{"id":8081,"date":"2022-11-03T07:15:42","date_gmt":"2022-11-03T07:15:42","guid":{"rendered":"https:\/\/outsourcing-today.ro\/?p=8081"},"modified":"2022-11-03T07:15:43","modified_gmt":"2022-11-03T07:15:43","slug":"companies-can-achieve-breakthrough-growth-during-uncertain-times-by-embracing-life-centricity-accenture-report-finds","status":"publish","type":"post","link":"https:\/\/outsourcing-today.ro\/?p=8081","title":{"rendered":"Companies can achieve breakthrough growth during uncertain times by embracing life centricity, Accenture report finds"},"content":{"rendered":"\n

Businesses that Embrace Life Centricity \u2013 a New Enterprise-Wide Approach to Growth \u2013 Are Likely to Outperform Peers on Revenue Growth by Nine Percentage Points Annually<\/span><\/strong><\/p>\n\n\n\n

\u00a0As the gap between what customers need and value and what businesses offer widens, businesses that put life-centric strategies into action and meaningfully contribute to customers\u2019 lives will see an annual growth rate of nine percentage points higher on average than their lagging peers, who are likely to shrink year-on-year, found a new report from Accenture (NYSE: ACN). In addition, the report also found these businesses are three times more likely to outperform their peers on speed-to-market and almost five times more likely to outperform on customer lifetime value.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The report, titled \u201cThe Life Centricity Playbook: Proven Strategies for Growth Through Relevance<\/a>,\u201d is based on research of over 1,700 of the world\u2019s leading c-suite executives. The research identified a nearly unanimous challenge globally, with 95% of executives saying their customers are changing faster than they can change their business.<\/p>\n\n\n\n

“As people face constant instability in their lives, they are continuously reassessing their values and sense of purpose,\u201d said Baiju Shah, chief strategy officer, Accenture Song<\/strong>.\u00a0“Businesses\u00a0need to adopt a life-centric approach, taking a broader view that allows them to see customers in their full lives and adapt to their ever-changing needs and priorities. Companies that pursue life-centric strategies will not only ignite growth but build long-term advantages becoming our new category leaders into the year and decade ahead.\u201d<\/span><\/p>\n\n\n\n

\u00a0
The report defines and details the life-centric strategies, highlighting the natural push and pull within customers\u2019 behavior today, noting increasingly unpredictable\u2014even paradoxical behavior\u2014driven by life forces such as economic, social, environmental, and political instability. While businesses once looked to a product-centric approach focused on performance and then shifted to a customer-centric strategy meant to prioritize experience, the report raises the need for a new playbook for growth, life centricity.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

 
Furthermore, while 95% of executives are accelerating digital transformation efforts, 97% feel that those efforts merely allow them to keep pace, not achieve new growth and customer relevance. Amid these findings, our study identified five distinct and proven ways that life centered companies are transforming to capture growth amid uncertainty. They:<\/p>\n\n\n\n

  1. Gain a profound understanding of people:<\/strong> High-growth companies utilize data, human ingenuity and machine intelligence to understand people\u2019s multi-dimensional lives more intimately, finding new opportunities to add value. According to the study\u2019s findings, companies that do this are 16% more likely to achieve the highest levels of profitability growth<\/strong> and 19% more likely to achieve the highest levels of employee retention.<\/li>
  2. Broaden the canvas for value creation:<\/strong> Companies that focus on sustainable growth by providing customer, social, environmental, and employee value are 26% more likely to achieve the highest levels of market share<\/strong> growth and 24% more likely to achieve the highest levels of customer lifetime value<\/strong>.<\/li>
  3. Creatively transcend industry norms:<\/strong> The report also found companies that creatively apply their technology and talent in new contexts, expanding beyond the structure of their industry and into a broader ecosystem of meeting people\u2019s needs, are 32% more likely to achieve the highest levels of revenue growth from new ventures<\/strong> and 29% more likely to achieve the highest levels of speed-to-market<\/strong>.<\/li>
  4. Design a delightful experience continuum: <\/strong>Companies that design for simple but significant interactions across a unified experience continuum, adding the most amount of value with the least amount of interruption, are 26% more likely to achieve the highlight levels of customer satisfaction<\/strong> and 26% more likely to achieve the highest levels of speed-to-market<\/strong>.<\/li>
  5. Build a fluid operation across functions: <\/strong>The report also found that companies that use human and machine teams to empower talent, unify workflow systems and platforms, as well as design agile organizations are 28% more likely to achieve the highest levels of revenue growth<\/strong> and 23% more lily to achieve the highest levels of profitability growth.<\/li><\/ol>\n\n\n\n

    \u00a0
    “Every business, within every industry, is now in uncharted waters – with new, complex challenges and opportunities coming at them from all sides and at pace. While growth is always the imperative, being and staying relevant is now harder than ever,” said David Droga, CEO and Creative Chairman, Accenture Song.<\/strong> “To succeed in the new reality, companies will not only need to make bold, creative changes to how they best serve their customers. They\u2019ll also need to do it at the speed of life.”<\/span><\/p>\n\n\n\n

    The report also provides examples of how some leading organizations have adopted life centricity amid the complex shifts in the relationship between businesses and customers. The full report can be found here<\/a>.<\/p>\n\n\n\n

    The \u201cThe Life Centricity Playbook: Proven Strategies for Growth Through Relevance\u201d global research<\/strong> is the second in a year-long series of research reports focused on helping businesses understand life-centricity as their new approach to long-term sustainable growth and relevance. The first report, \u201cThe Human Paradox: From Customer Centricity to Life Centricity,\u201d can be found\u00a0here<\/a>.
    \u00a0
    These reports can also be explored in\u00a0Accenture Foresight<\/strong>, Accenture\u2019s new thought leadership app, which provides a personalized feed of the latest reports, case studies, blogs, interactive data charts, podcasts and more. Visit\u00a0    http:\/\/www.accenture.com\/foresight<\/a>.<\/p>\n\n\n\n

    Research Methodology<\/strong><\/p>\n\n\n\n

    To study how companies are responding to evolving \u2014 and often paradoxical \u2014 demands of customers in today\u2019s rapidly shifting world, Accenture conducted both executive surveys and a series of executive interviews. The research included over 1,700 of the world\u2019s leading c-suite executives and was conducted between February and August of 2022. The study\u2019s participants spanned across 14 countries and 19 industries.                                                                                                     <\/p>\n\n\n\n

    About Accenture<\/strong><\/p>\n\n\n\n

    Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song \u2014 all powered by the world\u2019s largest network of Advanced Technology and Intelligent Operations centers. Our 721,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com<\/a>.

    Accenture Song accelerates growth and value for our clients through sustained customer relevance. Our capabilities span ideation to execution: growth, product and experience design; technology and experience platforms; creative, media and marketing strategy; and campaign, commerce transformation content and channel orchestration. With strong client relationships and deep industry expertise, we help our clients operate at the speed of life through the unlimited potential of imagination, technology and intelligence.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Businesses that Embrace Life Centricity \u2013 a New Enterprise-Wide Approach to Growth \u2013 Are Likely to Outperform Peers on Revenue Growth by Nine Percentage Points Annually \u00a0As the gap between what customers need and value and what businesses offer widens, […]<\/p>\n","protected":false},"author":2,"featured_media":8083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,18,6,3,5],"tags":[244],"_links":{"self":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/8081"}],"collection":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8081"}],"version-history":[{"count":1,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/8081\/revisions"}],"predecessor-version":[{"id":8086,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/8081\/revisions\/8086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/media\/8083"}],"wp:attachment":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}