We’re already into the second month of 2022. After another incredibly difficult year of uncertainty, angst, constant change, health concerns and logistical backlogs, the C-suite has had to be agile and make difficult decisions without really knowing what the future might hold. The pandemic and the country’s response to it have created great splits. Some companies have profited enormously, and others are in survival mode as markets and settings are continually transforming.
But certain issues will continue to be on the minds of C-suites across the world, whatever industry they belong to.
1. Pervading uncertainty
People tend to seek reassurance and answers from leaders in times of uncertainty, however it isn’t always easy to provide them in this unpredictable day and age. The C-Suite are struggling to deal with their own anxieties of living in a tumultuous world. CEOs, CFOs and sales directors are increasingly concerned about cashflow – especially as orders continue to be cancelled or delayed, often with very little notice. For some this is pretty much all they are able to focus upon.
How to combat this? Making time to reflect and be present yourself while reassuring colleagues, clients and consumers will be a priority. Boards and executive teams need to create the space to think proactively and further than the current quarter.
2. Logistic delays
Before Brexit and coronavirus, most organisations could comfortably rely on supply chains. However, recent industry changes have seriously subverted this model; a small error in the supply chain can have disastrous repercussions for an entire operation. At the same time, the price of many commodities have risen far beyond any reasonable expectation, which has had considerable knock-on effects. All of this needs to be dealt with by CEOs and their teams.
How to combat this? Having to factor in unknown delays and stretch out the operational and completion process has meant you will need to plan more than you ever have before. You’ll also need to be able to manage customers’ expectations and be comfortable with not pleasing everybody.
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