Is change and unpredictability the new normal?
McKinsey Quarterly’s Allen Webb discusses what has and hasn’t changed this past year with Chief Strategy Officers Rik Geiersbach of Boeing, Peter Jueptner of Estée Lauder, Peter Pintar of Smith International, and Niki Manby of Visa.
So is there a new normal?
Seems like shorter planning cycles and structural adaptability are central to surviving what used to be a predictable market.
Here are some key take-aways from the discussion:
Niki Manby, CSO – Visa.
- You want to be nimble.
- The word we have to pair with that is alignment. You have to make sure your corporate processes and structure you have in place are in line with where you want to go strategically.
Peter Joeptner, CSO – Estee Lauder.
- From a global perspective, the new normal in the North American is normal.
- We stopped predicting growth rates. Its very difficult to predict how much the market can grow. It’s impossible to predict here in the downturn.
- Adaptability is front and center [in running your company]. Now we are changing quarterly and adjusting quarterly.
- Alignment in the company around the leadership of the company is critically important.