One of my favorite life-lesson quotes is from Michelangelo who said: “The great danger for most of us lies not in setting our aim too high and falling short, but in setting our aim too low and achieving our mark.” It’s a sentiment that applies to how I approach my own work and is reflected in our recent research study where we looked at the connection between business operations’ maturity and performance.
Lately, we’ve all had to work out how to make the best of our operations to keep the wheels of business turning. But we still want to innovate and grow.
For some business leaders, running a steady ship means caution first. But I think a bolder approach is more effective. In fact, there’s never been a better time to go all out for operational transformation.
We identified four levels of operational maturity: stable, efficient, predictive and future-ready. We found that the future-ready organizations—those that make operations more intelligent—can flex and gain staying power for better business results.
In fact, there’s money on the table—global profits could be US$5.4T higher if organizations moved up from stable, efficient, or predictive to future-ready.
Does this mean most organizations are aiming too low? Well, only 7% of organizations are future-ready. Almost two-thirds (62%) are accelerating digitization to support the drive for speed to innovation for processes, products and services—compared with just 36% of the rest.
By aiming high, future-ready organizations are on the fast track to operational transformation. In this way, they can maintain business continuity while turning organizational change into value.
Here are three ways that I think CEOs can aim high to achieve intelligent operations:
As the group operating officer for Nomad Consulting Firm Operations, I’d be the first to admit running a business is complex. It’s a balancing act between technology, talent and processes and being resilient in the face of disruptive changes.
But I believe that nothing worthwhile is ever achieved without aiming high and testing the limits of what we can do. By transforming their operations, CEOs can make better business decisions to find more value and grow in the long term.
Read more fascinating insights from our research. Look out for more blogs from me on the impact of intelligent operations in certain industries, as well as further insights from the research and our experience.
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