This report looks at how a Chief Strategy Officer (CSO) can plan for the future with so much uncertainty and volatility.
A once-in-a-century challenge has forced some companies into survival mode while others have accelerated their growth agendas. As the COVID-19 pandemic continues to dominate the news headlines, CSOs need to remain diligent in monitoring market shifts and unforeseen challenges, adjusting quickly. They must continue to strengthen their organisations’ ability to protect the core business whilst simultaneously nurturing future growth opportunities.
The 2022 Deloitte Global CSO Survey uncovers three prominent themes that strategy functions can embrace to lead their companies into the future by expanding their roles into non-traditional domains, embracing technology transformation, and embedding purpose in the core of enterprise and business strategies – which has catapulted to the top of the executive agenda.
CSOs are looking to position their organisation both in the short and long-term while playing a central role in helping to leverage advanced technologies. This will enable new strategic possibilities and drive a step-change in business performance.
They will help drive convergence between purpose-strategy and business strategy as a way of contributing to the general wellbeing of our planet and society, while delivering superior shareholder returns.
The future is clouded by the uncertainties surrounding the pandemic, it is technology-driven, and it is purpose-motivated—all at the same time. It is a future that is certainly exciting for strategy executives, although challenging, to say the least. It’s time for CSOs to thrive. It’s time for all hands on deck.
About this survey
To better understand the evolving role of the Strategy function, Monitor Deloitte, the Strategy practice of Deloitte Consulting surveyed 230 CSOs and senior strategy executives, from large and midsize companies, both public and privately owned, across a wide range of industries in 35 countries.