A study of 1,400 listed companies, by strategy consultancy Cognosis, has identified four behaviours, 'Future Focus', 'Adaptability', 'Customer Centricity' and 'Purpose' as key to long-term success over the coming decade.
The Cognosis Sustainable Growth Index (SGI) sought to determine what factors businesses focused on the most, and what management practices they employ, in order to drive sustainable growth.
Four Key Pillars
With regard to 'Future Focus', Cognosis found that looking beyond the immediate term 'has never been more critical', with businesses that were focused on the future driving greater business growth.
As the study found, companies who disproportionately invest in future growth opportunities create on average a 32% revenue benefit to companies focused on current business.
Elsewhere, Cognosis' research found that the ability a company has to pivot its focus whenever needed is key to achieving sustainable growth, highlighting the importance of 'Agility'.
With regard to 'Customer Centricity', Cognosis determined that a switch from product-centric to customer-centric is essential to achieving sustainable growth, and was the main driver of the most improved businesses in the index.
Lastly, 'Purpose' needs to be at the centre of the framework for sustainable growth, inter-relating all behaviours, enabling and empowering effective Future Focus, Adaptability and Customer Centricity, according to Cognosis' SGI study.
Bringing Value To An Organisation
“A lot of businesses talk about purpose, but don’t truly understand it," commented John Hosking, managing partner at Cognosis. "It is critical that a business purpose has a direct link to the value you bring to your customers for it to truly be embedded in the organisation. Bringing these four behaviours together, with purpose at the centre gives a model for sustainable growth.
"No company may be excelling in all four of these areas but benchmarking where you stand can help you focus on your future and find the areas to prioritise.”
As well as researching 1,400 companies, Cognosis called upon 250,000 financial data points, contributions and an advisory panel of 25 c-suite executives in determining its findings.
Further information on the data, the companies listed and how they compare can be found via this link: https://cognosis.co.uk/horizon/data
© 2021 European Supermarket Magazine. Article by Stephen Wynne-Jones. For more A-Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.
