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- Findings of a recent study[1] consisting of interviews with more than 1500 CEOs from 60 countries and 33 industries show that the biggest challenge for organizations at the moment is managing the ever expanding complexity of doing business, which poses increasing demands regarding creative management, customer relations, operative knowledge and excellence. 79% of the respondents believe that the complexity of doing business will only increase in the following years.
- The economic downswing and ruthless competitiveness are the reason behind the increasing intensity of searching for new business opportunities, which requires organizations to be more and more innovative in discovering new business models and strategies. The European Commission tackles these challenges in its newest strategy, called Europe 2020, which states that the development of EU economy will be based on knowledge and innovation.
- Organizations need to quickly transfer their remodeled strategies to day-to-day operations - more than ever before. This requires improvements in process management, project portfolio management, faster completion of priority projects and active cooperation between employees on all levels;
- Organizations must continually improve their capabilities of quickly adapting and reacting to customers' demands, while optimizing costs and increasing the quality and flexibility of their offers. This can only be achieved by optimizing the internal resources while simultaneously raising their skills, knowledge and capabilities.
- If organizations are to be recognizable and competitive, they must continuously and universally encourage employee creativity. This should lead to quicker development and realization of innovative products and services, under the condition that the creative environment and high performance efficiency of all business functions and processes in the organization's business is guaranteed.
- Searching internal and external win-win synergies by breaking the internal and external boundaries of the organization, implementing the internal and external process orientation, and enabling cooperation in searching additional competitive advantages and new customers.
Businesses and organizations are therefore forced to constantly look for new, different or unique ways of doing business, which would enable them to stay competitive and be recognized by current and future customers. Advanced business approaches provide directions and answers to these challenges.