Business Management and Operations Trends 2016. Research identifies management is focus on growth strategy, customer service and employee engagement.

Business Management and Operations Trends 2016

Business Management and Operations Trends 2016

The purpose of our Business Management and Operations Trends 2016 survey is to identify the upcoming hot business management trends and themes in 2016, as well as some striking initiatives of the global operating companies across several industries. WGA conducted the Business Management and Operations Trends survey between October 1 and November 15, 2015, in which we had a total of 1195 responders to our Business Management and Operations Trends survey. Participants of the Business Management and Operations Trends survey were executive officers and vice presidents of publicly traded companies, operating in the United States. The majority of the companies were publically traded with a >$50B market capitalization.
2016 Business Trends: Management and Operations

2016 Business Trends – In 2016, Executive Officers are focusing on the following Top 3 Initiatives. Customer Service, Employee Engagement and Strategic Planning

 

Business Management Trends

According to our findings the hot 2016 business trends are the focus of companies in employee engagement and customer satisfaction, the concern of future cyber-attacks and the negative impact for the companies, and the direction of companies over the next two years towards expansion for growth instead of cutting costs. The 2016 Business Trends survey also presented consistency since the emerging themes of 2016 were connected with the business themes below. In fact, almost 9 out of 10 participating executives strongly believe that an ongoing trend for all industries will be the focus on customers and on employee engagement, while a surprising big percentage, 77% are afraid of a cyber-attack or data breach in 2016 and the implications of such an incident for their organization. Thus extra efforts are going to be put for the security of the companies’ networks and data or confidential information. (Protect their competitive advantage). Moreover, as many financial analysts have said this year, companies are expected to grow globally the following years and this is verified from our survey where 77% stated that companies will chase expanding for growth instead of cutting costs. In the same question 13% believe that this should be a top priority
2016 Business Trends - Management and Operational Hot Trends. Business strategy - Focus on growth, 79% are planning to focus on expanding their organization over the next 2 years rather than simply cutting costs to improve performance. Improving employee engagement, 89% strongly believe that employees in their organization should be engaged and customer-focused. Preventing Cyber Attachs, 77% are strongly concerned about the impact of a cyber attack, privacy data breach, or theft of confidential data on their organization in 2016

2016 Business Trends – Management and Operational Hot Trends

 

Business Management Themes

What we identified from analyzing the 2016 Business Trends results was the consensus on the need to focus on customer relationship management in 2016. In order to retain or increase their customers and protect, build and grow their brand equity, 88% of respondents noted that companies have customer relationship management on the top of their list for 2016. Another striking theme is that 93% of respondents noted that employee engagement, which many noted as the importance of employees to feel safe in their position, well trained, passionate and satisfied with their current position and prospects for the future. Last but not least, companies must identify objectives, define a strategy, design a plan, and set goals required to achieve success and grow. Therefore it is not to wonder why 92% of the executives said that strategic planning is a hot theme for 2016. Especially now that companies are trying to grow and expand globally, taking advantage of emerging/ niche markets or targeting additional audiences. It is important to underline, however, the strategy disconnect that was identified in the survey results. 8 out of 10 executives are satisfied with their strategic planning, believe they have mechanisms to easily adapt to changes or unexpected events, but only 1 out of 10 gives importance to scenario and contingency planning. Additionally, only 8% of the executives that responded to the 2016 Business Trends survey believed that disruptive innovations represent a threat to their organizations. Clearly, executives are underestimating the impact and growing momentum of disruptive innovations (e.g. Tesla, SpaceX, Bloom Energy, Moderna Therapeutics, Palantir).
2016 Business Trends: Themes, 88% say that customer relationships are essential to company success, 93% say that employee engagement is essential to company success, 92% say that strategic planning is essential to company success

2016 Business Management Themes

 

Top Business Management and Operations Initiatives

What we noticed from looking at the hot themes in 2016 was the consensus of most of the participants about the turn to customer relationship management, in order to retain or increase their customers and protect, build or retain their brand equity, 88% claim this theme is on the top of their list for 2016. Proceeding, another striking theme by 93% was employee engagement, a focus on employees feeling safe, are well trained and satisfied they are more productive/efficient. Last but not least, companies have to have set goals, define a strategy and plan before they take action to be successful. As a result, 92% of the executives surveyed said that strategic planning is a hot theme for 2016. Especially now that companies are trying to grow and expand globally, taking advantage of emerging / niche markets or targeting additional audiences, strategy acts like a compass that shows the way. However, what is important to underline is the strategy disconnect that was identified in the survey results. 8 out of 10 executives are satisfied with their strategic planning, believe they have mechanisms to easily adapt to changes or unexpected events, but only 1 out of 10 gives importance to scenario and contingency planning. 2016 is the year to actually focus on alternative plans in case of adversities in order to assure a prolonged success for organizations.
2016 Business Trends: Management and Operations

Strategy disconnect – Majority of companies don’t believe disruptive innovations represent a threat

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