SINGAPORE – Media OutReach – October 9, 2023 – Analysis from a global consulting firm
Kearney found that nearly half (48%) of executives say their company’s current transformations are not working. Although businesses have shifted from a focus on resilience during COVID to a new “regeneration” perspective, currently only 51% of businesses are actually operating this way. More must be done and more can still be done.
What is a “regenerative business”?
Integrating new digital models and advanced analytics, while making supply chains and human models sustainable for business and society, is now essential. Businesses that want to meet these commitments will need to take a long-term approach to becoming truly “regenerative”. This means looking beyond resilience and proactively asking where value can be added to society and the world at large.
Instead of optimizing for efficiency, the next generation of businesses will regenerate for speed, using external data as well as analytical and advanced AI to see and make sense of what’s happening outside their four walls, quickly and accurately.
By regenerating the entire business system, from the supply chain to customer experience and organizational culture, businesses and the public sector can ensure that our teams, businesses and the wider environment can achieve and maintain their full potential.
The view from the C-Suite
Kearney’s new research report
Regenerate: For a future that benefits everyone surveyed 800 business leaders from around the world (including 159 in the APAC region) and found that 99% of regional business leaders believed it was important to become a regenerative business. Additionally, in the study, more than half (51%) of APAC executives said their business was already operating in an efficient and regenerative way. Although this figure is higher than the global average (44%), there is still room for improvement and further guidance is needed on this new business paradigm.
Similarly, 43% of companies in APAC said they had effectively implemented a regenerative culture and 46% said they were already operating a regenerative supply chain very effectively.
Attitudes within senior management also differ. More than half (55%) of APAC CEOs said their business is very effective at operating in a regenerative way, and 41% of them believe there is still much room for improvement.
The region’s operational managers are slightly less optimistic: only 48% say they are currently very effective in their regenerative operation, and a further 48% say there is still room for improvement.
Research shows that most senior executives in APAC adopt leadership styles that support regenerative businesses. They focus on action and empowering others to create their own positivity and change. 49% of CEOs say they are currently operating very effectively with regenerative leadership.
Arjun Sethi, Partner and Regional President APAC at Kearney, comments:
“Our survey results clearly show that businesses in the region are keen to move from a merely resilient strategy to a fully regenerative and fundamentally more transformative strategy, whether or not this requires truly digitizing their outdated global supply chains, integrating analyzing the whole operating model or improving how they develop and inspire diverse and sustainable workplaces. The expected news is unexpected, there is no normal as we go through these necessary self-disruptions. More is needed and more is possible.
“A regenerative business model fills this gap and takes businesses one step further, facilitating fundamental change, at the core. Companies need to take a step back and review their business models, evaluate their products or services and generate maximum value for all stakeholders and the broader ecosystem in which they operate.
Arjun Sethi adds:
“Our research shows that APAC businesses are on the right path towards regenerative models and are operating regeneratively in a more efficient manner than global respondents. While this is positive, it is equally important that our leaders do not lose sight of the end goal. Becoming regenerative is not just about restructuring and ironing out problems. It’s important that any plan sets the pace for long-term success and actually adds value to the world in which you operate.
“Businesses must build on their strengths and identify new opportunities for growth and impact in the future. Resilience was the watchword of recent years, now it will be ‘regenerative’.”
Hashtag: #Kearney #Regenerate #ForAFutureThatWorksForEveryone
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Source: Media Outreach Newswire