Top 3 Priorities for CEOs in 2019
Even with 2019 nearly half over, CEOs must start looking to finish this year strong and strategically position their organizations to thrive in 2020. When it comes to propelling your business forward, regardless of your industry, staying on top of industry-changing trends is a must. According to the CEO development consultants at The Brain Trust, here are the top 3 priorities you should have through the remainder of 2019 and beyond.
- Make investing in new technology a must. Some tech experts assert that we are on the verge of what they deem the Fourth Industrial Revolution, where the immersion of technology in all we do is inevitable. From the use of artificial intelligence to the rollout of 5G technology, finding ways to leverage cutting-edge technology to both streamline business operations and enhance the customer experience will be a requirement to compete. In addition, revamping cybersecurity measures and creating new ways to use technology to better learn your market and customer preferences are enabling leading organizations to reduce the business development cycle and quickly expand their market reach.
- Pay attention to geopolitical issues. Defined as the threat of political disruption or impact on international trade or investment, geopolitical risk is at the forefront for many domestic businesses. Even if you do not have international offices or locations, the continued turmoil and potential threat of tariffs on a host of American imports and exports are serving to make things difficult for businesses. Trying to proactively plan to reduce the business impact is key, if at all possible. To best manage this rising geopolitical risk, it is crucial for CEOS to hone their global political knowledge and skills and consider engaging with politicians and interest groups, while remaining politically neutral.
- Make data collection part of how you do business. Whether it is using tools to analyze workplace productivity or implementing new systems to measure marketing effectiveness, finding ways to collect real-time data on your business operations will provide incredible business insight. To compete in the ever-fragmented business landscape, organizations will need to make sound business decisions and pinpoint business opportunities that are rooted in quantitative data. By having protocols in place to track your business’ success, in all departments, CEOs will be able to respond quickly and pivot strategies as needed without sinking significant investments with minimal return.
What are your top priorities through the end of 2019? Now is the time to assess your organization’s progress and strategically plan how to finish the year off strong and be well positioned to grow in 2020.
