（英文）行业资料 he New Blueprint for Corporate Performance - Build for the Future 2023 -BCG

TheNewBlueprintforCorporatePerformance

BuildfortheFuture

APRIL04,2023

By

AmandaLuther

,

RomaindeLaubier

,

SaibalChakraborty

,

DylanBolden

,

SylvainDuranton

,TauseefCharanya,and

PatrickForth

READINGTIME:15MIN

Aselectgroupofleadingcompanieshavecrackedthecodeforwinninginaworlddefinedbydigital

engagement,embeddedartificialintelligence(AI),andlow-emissionsproducts,processes,andsupplychains.Theyhavemasteredtheabilitytorealizebusinessvaluefromtheirdigitalanddata

investments,avoidingthetrapoflengthyITprojectswithlargecostoverruns.Theirfinancialand

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nonfinancialperformanceisdramaticallysuperiortothatofcompaniesstillplayingbytheoldrules,which,asaresult,faceanexistentialthreat.

BCG’slatestresearchprovidesacompellingandpragmaticblueprintforhowCEOscanpropeltheir

companiestothefrontofthepackbyacceleratingandde-riskingtheirchangeagendastorankamongthewinners.

TheChangingBasisofAdvantage

EveryCEOfacesthechallengeofmeetinginvestors’expectationsforcurrentperformancewhile

dealingwithmyriadotherissuessuchasrisinginterestrates,supplychainshortages,geopolitical

tensions,cybersecurityrisks,andactivistinvestors.Currentcostpressuresaddtothechallenge.And

while60%ofcompaniesworldwideareplanningtoincreasetheir2023digitalinvestments,comparedwiththeirallocationsin2022,BCGresearchshowsthatmanyifnotmostCEOsarefrustratedbypoorbusinesscases,increasingdemandsforsignificantcapitalexpenditures,andunclearrealizedvalueforthebusiness.Almost85%citecumbersomecoordinationwithvendors,and74%believetheircompany

isimplementingcookie-cuttersolutions.Almost70%saytheircompanydoesnotprioritizeitsinvestmentswellinexecutingdigitaltransformationprograms.

Critically,thefundamentaldriversofbothsuperiorcurrentperformanceandsustainablecompetitiveadvantagearechangingbecausegrowthopportunitiesandthecapabilitiesrequiredtowininnew

marketsareshiing.

Growth,whichaccountsfor60%to70%ofshareholderreturnsinthemediumterm,hasplateauedintraditionalmarkets.Theactionhasshiedtonewmarkets,includingthosecreatedbytechnology

disruption,suchase-commerce,streamingmedia,cloud-basedinteractions,mobilitysolutions,andsmartenergysolutions.Growthopportunitiesareexpandinginareasrelatedtotheenergytransitionandlow-emissiontechnologyaswellasingenetherapy,themetaverse,andquantumcomputing.

Manyincumbentsstruggletojustifyinvestmentsinthesedisruptivenewopportunitiesand,instead,onlymakeincrementalinvestmentsintheircurrentbusinesses(ortheyinvestinthewrongareas).

Sincetheylackthecapabilities—thetalentandprocesses—thatarerequiredtoaccessthenew

marketsand

gainadvantagewithAI

andothertechnologies,theirfuturesarebleak.Growthwillslowandinsurgentswilltargettheirprofitpools.

Meanwhile,asmallnumberofcompanieshavebuiltwinningcapabilitiesandhavebrokenawayfrom

thepack.Theyhavefoundawaytoinvestnotonlyinsmarttechnologybutalsointheirpeople,

processes,andculturetorealizevaluefromtheirinvestments.Forexample,wheninvestinginAI,thesecompanieshaveadheredtothe10-20-70rule:10%oftheeffortliesinbuildinganadequateAImodel;20%involvesmakinghigh-qualitydataavailable;and70%focusesonpeople,developingnewbusinessprocesses,andtransformingthewaybusinessfunctionsoperate.Equally,thesecompaniesare

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addressingtherapidlychangingskillsmixrequiredtowininnewgrowthmarkets.Forexample,

considertheskillsthatwillbeneededforgenerativeAI.AnewstudyfromGoldmanSachssuggeststhatthistechnologycouldexpose300millionjobstoautomationworldwide.Atthesametime,newtechnologieswillcreatemanyotherjobs.Thesecompaniesunderstandsuchshisandareplanningforthefuture.

Thesefuturewinnersshareacommonsetofattributes(six,tobeexact)that,regardlessoftheirsector,underpintheirsuccess.Theseattributesenablethemtooutperform,tobemoreresilienttoshocksanddisruptions,andtoexploitinnovationfasterforvalue-creatinggrowth.TheyarewideningthegapwiththeircompetitorsandgeneratingshareholderreturnsalmostthreetimesgreaterthanthoseoftheS&P1200,withtwo-thirdsofthevaluecreatedcomingfromrevenuegrowth.Theseleadingcompaniesare

builtforthefuture.

Aclearblueprint,orplaybook,hasemergedforhowtobecomeacompanythatisbuiltforthefuture.Theblueprintreconcilesthechallengeofwhatthesecompaniesneedtodo(identifyingwhichinitiatives

drivethemostvaluebysector)withhowtodoit(determiningwhichcapabilitiesdrivesuccessandhowtobuildthemfast).CEOscantailorthisnewplaybooktotheircompany-specificchangeagendas.Herearethedetails.

Performance,Advantage,andtheSixAttributesofSuccess

Againstthisbackdrop,CEOsneedtostrengthentheircompanies’competitiveadvantages,thebasisofperformanceforthefuture.Inthepast,advantagederivedfromstructuraldifferences,suchasscale,

thatoencanbereplicatedandneutralized.Thenewbasesofadvantagearerootedinsuperiorcapabilities,especiallythoserelatedtodigital,AI,andinnovation.

Thesecapabilitiesaremoredifficulttoestablishbutmuchmoreenduringfortworeasons.First,

technologiesthemselvesareevolvingrapidly.So,forexample,companiesthathavebuiltcapabilitiesarounddataandanalyticscanridethewaveasAIalgorithmsbecomemoresophisticatedandbettertrainedandthecompaniesdeployfurtherinnovationsaroundnewdevelopments(suchasgenerativeAI).Second,companiesthathavethesecapabilitiesbenefitfromaflywheeleffect—theycaninvent,deploy,adapt,andreinventmorequicklyandwithgreaterimpactthantheircompetitorscan.They

alsogetbetteratcocreatingwithcustomersandecosystempartnersandatdemocratizingtheuseofdatathroughouttheirorganization.

BCG’slatestresearch,cappingthreeyearsofempiricalstudyofdigitaltransformationsandthe

changingnatureofcompetitiveadvantage,offerstheblueprintCEOsarelookingfor.(See“AboutOurResearch”)Thenewresearchrevealstheattributes,orgroupsofcapabilities,thatbestcorrelatewithsuperiorcurrentperformanceandfutureadvantage.Sixspecificattributesareendemictocompanies

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thatarebuiltforthefutureandenablethemtomoveintonewhigh-growthmarketsthatarebeyondthereachofless-capableplayers:

•Leadershipthatisalignedaroundacorporatepurposethatintegratessustainabilityandsocialimpactgoals,buildingtrustandtransparencyamongstakeholders

•Aclearpeopleadvantagetoattract,retain,anddevelopworld-classtalent

•Anoperatingmodelthatenablesagilityandresiliencetocombatexogenousrisks

•Aninnovation-drivenculture

•Adecoupleddataplatformandflexible,scalabletechnologyplatformsandapplicationstofacilitatedataaccessandtosupportbusinessneedseasilyandflexibly

•FullyembeddedAIthatcancreatevaluefortheorganization

ABOUTOURRESEARCH

BCGhasbeenresearchingthesuccess—andthecausesofsuccess—ofdigitaltransformationsforthepastthreeyears.Thisworkledtoseveralprevious

publications:

•“

FlippingtheOddsofDigitalTransformationSuccess

,”October2020

•“

PerformanceandInnovationAretheRewardsofDigitalTransformation

,”December2021

•“

TheRiseoftheDigitalIncumbent

,”February2022

•“

AreDigitalNativesLosingSightoftheDigitalBasics?

,”November2022

Inthelatestphaseofourstudy,weundertookasystematicandforensicanalysisof

morethan100BCG-supporteddigitaltransformationsandsupplementedthisanalysiswithexternalresearchamong725executivesatcompaniesthathaveundertaken

digitaltransformations.Thecombineddatasetcoversallgeographicregions,industrysectors,andtypesofdigitaltransformation.

Ourlatestsurveyaskedallparticipantsaboutfiveareasthatarefundamentalto

success,theemphasisoftransformationefforts,howsuccessfultheyhavebeen,and

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thedegreetowhicheachofmorethan50potentialinfluencingcapabilitieswerein

place.(Seetheexhibit.)Wethenusedtheresultingdatasettoanalyzewhich

combinationofcapabilities,ifbuiltsufficientlywell,hadthebiggestimpactonfuturereadinessandwhichcombinationdifferentiatedfuture-builtorganizationsfromthosefacinggreaterriskofdisruption.Sixattributesemergedfromthisanalysisand,inourjudgment,serveasthebestdescriptorsforleadingcompanies.

Todeterminethemosteffectivecombinationofcriticalcapabilities,weconducteda

multivariateanalysisofthefulllistofpotentialinfluencingfactors.Weemployeda

multivariatelinearregressionapproach,runusingtheRprogramminglanguage.All

inputcapabilitieswereincludedintheinitialregressionanalysis,withthecombined

successscorebeingthetargetoroutputvariable.R2andadjustedR2valuesforthis

initialregressionanalysisweremeasured,aswellasthecoefficientsandstandard

errorsforeachinputfactor.Thisanalysisdeterminedthatthisparticularcombinationandconcentrationofattributesexplainedmoreofthevarianceofthedatapointsthananyothercombination.Forexample,addingthesixthattributeincreasedthe

likelihoodofdeliveringonorganizationaloutcomessignificantly(byabout20%),while

addingaseventhattributehadanegligibleadditionalimpact.Thus,wecansayconfidentlythatourcombinationofsixattributesbestreflectsfuture-built

organizations.

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TheJourneyRevealsaWideningChasm

Thejourneytoacquirethesesixattributesissimilarforallcompanies,butsincesectors,companycontext,andstartingpointsdiffer,itrequirestailoring.BCGsurveyed725C-suitemembersto

understandhowtheircompaniesarebuilding(orhavebuilt)morethan50differentcapabilitiesinfive

areasthatpreviousresearchhasshownarefundamentaltosuccess:seniormanagement

commitment,strategyandapproach,governance,people,andtechnology.Wethenanalyzedwhichofthesecapabilitiescontributemosttoanorganization’sfuturereadiness,whichwecanlinktofinancialandnonfinancialmetricsthatinvestorsvalue,suchasshareholderreturns,growthinearningsbeforeinterestandtaxes,customersatisfaction,andtalentattraction.Wescoredeachsurveyedcompanyonitspositionalongthejourneytowardbecomingfuturebuiltandidentifiedfourgroupsofcompaniesonthebasisoftheirprogress:stagnating,emerging,scaling,andfuturebuilt.(SeeExhibit1.)

Stagnatingcompanies(asobering30%ofoursample)remainatthestartinggate—theyarestill

decidinghowtomoveforward.Somehaven’tyetalignedexecutivesaroundtheneedforfundamental,asopposedtoincremental,change.Manyarewaryaboutwritingbigchecks(thoughsomehave)to

systemsintegratorsandplatformprovidersformultiyeartechnologyupgradesthatarewellknownto

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havehighratesoffailure.Stillothershavedigitalinitiativesthathavegonenowhere—theyhavelittletoshowforthetimeandmoneytheyhaveinvested.

Emergingcompanies(45%ofthesample)havecreatedvaluefromadigitaltransformation,butthey

continuetofacechallengesineffectivelyscalingsolutions,andtheyhaven’tevolvedmuchbeyondfixingthebasicsintheircorevaluechain.Theyriskbecomingstuckwithpocketsofdigitalcapabilitiesbutfailtocreatesystemic,organization-widechangestotheircultureandoperatingmodel.

Scalers(19%)havedeliveredasuccessfulwaveorwavesofdigitalandAItransformationsandcreatedsustainablechangeintheorganization.Theyarefocusingonembeddingthesesolutionsacrossthe

enterpriseandpivotingtowardgrowthfrominnovation.Thesecompaniesaredelivering(insomecases,eye-popping)results.(SeeExhibit2.)

Future-builtcompanies(6%)exhibitallsixattributesatscale.Theyareontheleadingedgeof

disruptionintheirsectors,demonstrateresilienceinthefaceofuncertainty,andarebestplacedtobenefitfromtechnologydisruption.

Themoreadvancedcompanies(scalersandfuture-builtfirms)areopeningbigchasmswiththestagnatingandemergingcompaniesincriticalcapabilitiesthatcementadvantage.Forexample:

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•FivetimesasmanyadvancedcompaniesarescalingAIsolutionsasopposedtorunningpilotsatasubscalelevel(72%versus14%).

•AdvancedcompaniesinvesttwiceasmuchinAIsolutionsandrealize3.5timesgreaterROI.

•Threetimesasmanyadvancedcompanieshavestrongercapabilitiesintheoperationalvalue

chain,forexample,intelligentassetmanagement,smartfactories,automatedmaintenance,andIndustry4.0.

•Morethantwiceasmanyhavestrongercapabilitiesinsalesandmarketing,andtwiceasmanyhavestrongercapabilitiesincustomerexperienceandjourneys,forexample,personalization,consumer-centricservices,andcustomersupportandservices.

•Twiceasmanyhavestrongercapabilitiesindigitalecosystems,suchasleveragingplatformsandpartnershipstodrivesustainablerevenuegrowthbeyondtheircore.

•Advancedcompaniesshowagreaterproclivityforearlier-stageinnovation,launching1.6timesmoreventuresornewcompaniescomparedtoless-advancedfirms.

ThePlaybookforMovingUptheCurve

SohowdoCEOsfocustheirmanagementteamsonembeddingthesixattributesacrosstheir

organization?BCGhascreatedapragmaticplaybookthatcompaniescantailortotheirsector,currentattributematurity,andstakeholderrequirementstodrivebothperformanceintheshorttermand

sustainableadvantage.Itshowshowtoachievevaluefromnewinitiatives,especiallyfromAIusecases,growthfrominnovation,andESGinitiatives.(See“HowDigitalandAICapabilitiesDeliverESG”)

HOWDIGITALANDAICAPABILITIESDELIVERESG

Whileenvironmental,social,andgovernance(ESG)issuesarenotyetshowingupempiricallyasmajordriversoffinancialandnonfinancialsuccess,thereisa

correlationbetweencompanieswithhigherfuture-successattributescoresanda

greaterfocusonESG.Weexpectthatthisconnectionwillbecomemoreimportantinthecomingyears.OurresearchrevealssomeimportantinsightsthatcanhelpCEOsdelivertheirESGpriorities.

Atadvancedcompanies,theESGagendaistightlylinkedtodigitalandAImaturityandtheattributesforfuturesuccessgenerally.Thedatashowsthat60%ofESG

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innovators(companiesscoringhighestonESGcapabilitiesandoutcomes)arescaling

orfuture-builtcompanies(whichmakeup30%ofcompaniesoverall),andthe

remaining40%ofESGinnovatorsarespreadacrossthe70%ofstagnatingand

emergingcompanies.Thismakesintuitivesense:forexample,itishardtobaselineemissionswithoutarobustdataarchitectureandAIcapabilities.

Stagnatingandemergingcompaniestendtofocusonsocialandgovernanceissuesversusenvironmentalones.Theyprioritizefoundationalcapabilities,suchasdigitalaudittrailsforcompliance,digitalhealthandsafetyreporting,anddatacollectiontofulfillregulatoryrequirements.

Scalingandfuture-builtcompaniesdotwoadditionalthings.Theyextendthesesocial

andgovernancecapabilitiestomoreadvancedusecases,suchascreatingdigitalreskillingandupskillingprograms;improvingdiversity,equity,andinclusion

outcomes;andadoptingpredictiveriskanalytics.Andtheyfocusmoreonthe

environmentalagendawithinitiativessuchasAI-drivenemissionsmonitoringandpredictiveassetmaintenanceandintegratingsustainabilityintoallfunctionsandoperations(suchasproductdevelopment,sourcing,andmanufacturing).

ThelanguageusedtodescribeESGaspirationsdiffersbetweenlessadvancedand

moreadvancedcompanies.Theformergrouptendstotalkaboutcomplianceandriskmanagement,whilethelatterdiscussesintegrationintotheoveralloperatingmodel

withexpectationsforgrowth,valuecontribution,andimprovedcompetitive

differentiation.Furthermore,advancedcompaniesaremovingfasterandusingESGtoprioritizedigitalinitiativesandviceversa.In2021,45%ofstagnatingandemerging

companies,versus60%ofscalingandfuture-builtcompanies,reportedthatESGisaprimaryfocusorkeycriterioninprioritizingdigitalinitiatives.Oneyearlater,thesenumbersroseto71%ofstagnatingandemergingcompaniesandtoawhopping87%ofscalingandfuture-builtcompanies.

StagnatingandEmerging.In2020,wedescribedthe

sixsuccessfactors

thatarecriticaltothe

successofadigitaltransformation.Embeddingthesuccessfactorsenablesaprogrammaticstep

changeindigitalcapabilitiesthattypicallyfixesthebasicsbydigitizingthecorevaluechain,improvingthecustomerexperience,andsupportingend-to-endcustomerjourneys.Inthetwoyearssince,the

companiesinallsectorsthathave

deployedthisapproach

havedeliveredindividualsolutionsinsuch

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diverseareasasimplementingagileoperatingmodels,replacingagingtechnologystacks,and

achievingdigitalexcellenceintargetedcorporatefunctions.Thesecompanieshavebeenfocusedonbusinessvaluethroughprioritizedusecasesandhaveavoidedspendingyearsandlargeamountsofcapitalongenericfoundationalcapabilities.Forexample,theyhavenotbuiltallthelarge-scale

infrastructurefordataandanalyticsupfront;instead,theyhaveworkedbackfromtheusecasesandbuiltwhatisnecessaryforimpact,recognizingthatscalingtheinfrastructurewillgohandinhandwithscalingthebenefits.

The2022datashowsonlyamodestimprovementinscoresforstagnatingandemergingcompanies,

farfromwhatisrequiredforthesefirmstoremaincompetitive.Toomanyfirmsareapproaching

digitaltransformationwithacautious,evolutionarymindset,whichisholdingthembackandwideningthegapwiththecompaniesthatareprogressingatafasterpace.

Forexample,onetenetoftheCEOplaybookisthatcompaniesneedacertainlevelofdigitalmaturityinordertocreatevaluefromAIinitiatives.AImaturitytendstolagdigitalmaturity,sincesuccessfulat-scaleAIdeploymentrequiressomefoundationalcapabilities,includingclean,accessibledataandanopennessinthebusinesstoexperimentwithandcommittousingAI.Ourlatestresearchshowsthat46%ofcompanieshavenotbuiltstrongdigitalfoundations,andnoneofthesehasastrongAI

capability.Another42%arerelativelyadvanceddigitallybutdon’tfeelthattheyareAImature.Only12%ofthecompanieshaveachievedstrongdigitalandAImaturity—and,thus,arepositionedto

capitalizeonthenextwaveofadvances.

ScalingandFutureBuilt.Ourlatestresearchyieldscriticalinsightsintohowmore-advanced

companies,irrespectiveofsector,pivottheirpriorities.Onceastepchangehasbeenachievedthroughasuccessfuldigitaltransformation,thenextquestionishowbesttokeepbuildingtheattributesthat

willunderpinfuturesuccess.Typically,companiestireoflarge-scalechangeprograms,somanagementlooksforsolutionsthatareimplementedbybusinessunitsunderthemantraofcontinuous

improvement.Thisapproachhasrisks:itcanleadtolinemanagersprioritizingshort-termresultsovermoresystemicchange,anditrisksalossofmomentuminthetransitionandafailuretocapitalizeonearlygains.

Successfulchangerequiresapurposefulapproachtoboththewhat(thespecificinitiativestoprioritizeforhighestimpact)andthehow(themechanismsandgovernanceprocessestodeploytomake

continuouschangeanintegralpartofthenewoperatingmodel).Advancedcompaniesreducethe

emphasisonprocess-digitizationfixes(sincetheircoreprocesses,channels,andcustomerengagementaremuchimproved)andshithefocustogrowthfrominnovation.(SeeExhibit3.)Theytypically

prioritizescalingAIsolutions(forexample,inordertodriverevenuegrowthfrompersonalization)andorchestrateandcontributetobusinessecosystems.

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Thereisaremarkablesimilarityamongadvancedplayersinallsectorsintheirfocusonthesix

attributes.(SeeExhibit4.)Atamoregranularlevel,however,thedetailsofthecapabilitiesthat

companiesprioritizevarybysectorandcompanycontext.Thevalue-drivenportfolioofinitiativesforscalingandfuture-builtcompaniesalsovariessignificantlybysector.(SeeExhibit5.)Asanexample,

retailerstendtogetthehighestvaluefromnew-businessopportunities,suchasride-sharing

partnerships,ande-commerceinitiatives,suchaspersonalization.Advancedautomotiveandmobilityplayerstendtoseethemostvaluefromintegratedcustomerexperiences(usingcustomer-facingapps,forexample)andworkforcemanagementsolutions(suchasanautomatedwarehouse).Companiesneedtodecideonthebusinessoutcomestheyseekandthespecificusecasestheyneedtobuild.Theyalsoneedtodeterminetheminimumviablefoundationsoftechnologyanddatathatwillenablethemtoscalesolutions.Advancedcompaniesaredoingthisandincorporatingacontinuousimprovementagendawithnewinitiativesthatleveragetheprogressalreadymade.

CompaniessuchasAnheuser-BuschInBev,Apple,BMWGroup,Microso,andWoolworthsprovideusefulinsightsintohowtoexecutethisplaybook.Herearesomeexamples:

•LeadershipandPurpose.Topleadershipteamsinadvancedcompaniescommunicateaclearvisionandpurpose;createanenvironmentofinclusion,access,andequality;andempower

peoplethroughouttheorganizationtomakedecisions.Theygobeyondjustalignmenttoensurethatmiddlemanagementisdrivingdeliveryoftheambitionandtheadoptionofindividual

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initiatives.AsMicroso’sCEOSatyaNadellawroteinhisbook,HitRefresh,“TheCEOisthe

curatorofanorganization’sculture.Anythingispossibleforacompanywhenitscultureisaboutlistening,learning,andharnessingindividualpassionsandtalentstothecompany’smission.

CreatingthatkindofcultureismychiefjobasCEO”

•PeopleAdvantage.Therearemanyaspectstodeliveringsuperiorpeopleperformance,includingbetterrecruitment,retention,development,andengagementoftherighttalent.Thebest

companiesinnovatearoundtheiremployeevaluepropositions.Forexample,Anheuser-Busch

InBevhasdifferentiateditsemployeevaluepropositionfordigitaltalentinmanymarketsby

creatingseparatepaystructures,equityarrangements,andworkpatternsforpeoplefocusedondrivinginnovation.MichelDoukeris,CEOofAnheuser-BuschInBevsaid,“Alignedwithour

strategyasatech-firstfast-movingconsumergoodscompany,wehavedevelopedadifferentiatedemployeevaluepropositiontoattractandgrowleadingdigitaltalent.Ourteamhasaunique

opportunitytodrivegrowthforourecosystembyworkingoninnovativetechproducts,suchasBees,TaDaDelivery,andZéDelivery,whichreachmillionsofmonthlyactiveusers,andsolveconsumerandcustomerproblemsatscale”

•AgileOperatingModel.Thisbringsadvantagessuchasfasterdecisionmaking,betteradoptionofinnovations,andmoreresilience.Forexample,alargeAsianinsurancecompanytransformedfromahierarchicalorganizationmodeltoaplatform,data,andtechnologymodelthatcoversthefullinsurancevaluechainandmakesdataandanalyticsavailablethroughouttheorganization

(themuch-soughtaerdemocratizationofdata).Theplatformmodelputsdecisionmakingatthefrontlinewithacontinuousfeedbacklooptothecenter.

•Innovation-DrivenCulture.Appleisfamousforinnovation.Itsorganizationisrootedin

functionalexpertise,onefactorthatdrivess