MXO June 2020 Summarised Extracts: What to expect from the new environment

MXO is a private peer group forum for leaders. The intention is to create an open forum for debate in which leaders from a range of sectors around the world have the opportunity to come together on a regular basis in a confidential environment and share, learn and grow together.

In June’s sessions, we focussed on the topic: What do we need to do now to deliver sustainable growth over the next five years. Through a series of workshops the conversations tackled the question and raised a broad array of themes. These included:

• • What to expect from the new environment
    
  • Leadership and unpredictability
    
  • COVID19 as a catalyst for cultural and organisational transformation
    
  • Digital Transformation and Sustainability
    
  • The importance of themes such as coopetition
    

In a series of shorts, we have highlighted critical outputs.

THE NEW ENVIRONMENT – WHAT TO EXPECT

By way of introduction, our group analysed what they are expecting in their markets. What it is likely to mean for consumer behaviour, supply chains and what impact sustainability and coopetition can have on business resilience. Below is an overview of the key comments and conclusions:

• • The old normal is gone and is not coming back, so take the time understand your new environment
  • Approaching this uncertain period, first understand what you need to do to survive, then understand where you need to innovate in order to thrive. If you don’t innovate, expect to decline.
  • For 20 years we have focussed on global productivity, now we need to build resiliency in our supply chains. This means more regionalisation and localisation, at least in the short term.
  • Geopolitics, regulatory drivers and trade war will likely have a major influence in the coming years with significant impact on supply chains
  • There will be funding inhibitors but there will also be catalysts for transformation with digital and sustainability at the core of that
  • Collaboration is key – look out for coopetition and corporate venturing to enable corporates to learn fast and accelerate growth and innovation
  • Sustainability will play a key part in consumer behaviour alongside a focus on hygiene, health and nutrition
  • More time at home will influence consumer behaviour, the products and services we buy and where we choose to spend our money
  • Less is more, this is the time to re-focus on core offerings and how that plays into coopetition