Caught up in the latest crisis, it can be all too easy to turn inwards and forget about what your competitors and the market are doing. Emma Carroll asks business leaders how they create the time to reflect.
It’s not just CFOs who are struggling to make time to draw inspiration from beyond their organisations. According to the research, 94 percent of management teams are deemed to be too inward-looking and prone to naval gazing. Members of the Criticaleye Community explain how they are avoiding this pitfall.
Featuring Commentary From:
Martin Grieve, SVP, Corporate Business Planning, Reckitt Benckiser Group: "It’s super important that senior leaders are looking externally from a 360-degree perspective, however there is a particular risk when businesses are undergoing internal change, such as an acquisition or internal restructuring."
Matthew Lester, Chair, Kier Group and Board Mentor, Criticaleye: "Leaders will often have come through the organisation and be very good at managing the internal agenda, because that’s what they have been assessed against. But their role needs to change."
Jerzy Nagorski, Senior Relationship Manager, Criticaleye: “While you are focusing on your latest internal project the world is changing. Competitors emerge, customer expectations evolve and new regulatory requirements rewrite the rules of the game."
Barbara Richmond, Group Finance Director, Redrow: "A lot of people are very insular, not just about their organisation but also their industry, that’s a mistake."
Mike Dugdale, former CFO, Personal Group: "You should allocate time at each Board and Executive team meeting to really focus on strategy and customers – review what’s happening externally with competitors, customer requirements and how the marketplace is changing."
Criticaleye’s Virtual CFO Retreat 2020 is being held in association with Capita Consulting and will take place on 12 November. Speak to your Criticaleye contact or Emma Carroll to reserve your place.
Community articles are produced directly by and for the Criticaleye Community.