Core Four: BCG BrightHouse’s strategic priorities to thrive in a rapidly changing world
2023 is well under way, and we already see so many exciting possibilities. To make the most of this year of transitions, BCG BrightHouse has identified four key areas that cover the greatest need our clients must address in an evolving business world. Together they make up the Core Four and include Resilience, Purposeful AI, Sustainability, and Talent. Read on for a brief overview of the crucial importance of each area.
Resilience
The past few years have shown how uncertain the world can be. Between pandemics, wars, inflation, supply chain issues, and any other crisis, it’s crucial for businesses to prioritize resilience. By starting outside of disruptive forces and leveraging purpose as a guide, it’s possible to create a stable foundation on a landscape constantly in flux. Purpose serves as a decision-making lens and motivator for employees to understand how they are answering a need in the world. When a strong purpose is articulated, activated, and embedded within an organization, the business is no longer fragile to change. Rather, it makes the most of it by embracing it. For resilience to be most effective, it must be systemically integrated within an organization and espoused by the people who run that organization.
Purposeful AI
New endeavors are fueled by innovation and there is perhaps nothing more exciting in the innovation space right now than artificial intelligence. But as exciting as AI is, any innovation without careful ethical considerations is not acceptable. Move fast and break things is broken. So, let’s move smart and make good. That’s what Purposeful AI does through humane holistic design. Not only does it allow companies to operationalize their purpose through innovation, but it also gives them a competitive advantage while remembering their humanity. It’s crucial that we remember EQ when we are utilizing AI’s incredible IQ. Emotionally adept people make better friends, partners, leaders, and decisions. So, if people need to have empathy, AI technology must as well.
Sustainability
Another core strategic priority is sustainability. Growing data shows ESG leadership is a key to long-term performance. ESG should be central to every company and on every CEO’s agenda. To scale, it must be profitable, and to work, people must be open to cooperating over competing. Once again, purpose can help. By narrowing to relevant and timely issues for your business, you can identify meaningful bold commitments to act on. Embodying the change you wish to see inspires movement and activation to deliver on sustainability efforts. This could involve developing a compelling sustainability narrative that goes beyond simply reporting wins. With BCG and BCG BrightHouse working together, we bring both analytic rigor and human insights to help companies shape their ESG strategies beyond generic statements and towards authentic and achievable goals.
Talent
All work goes through talent. To cultivate the best talent, you need a purposeful organization. A strong activated purpose fulfills employees which leads to decreased turnover, increased engagement, and ultimately better business results. With purpose as a key lever across culture, operations, branding, and communications, you will attract talent who share your values and care about the company’s success.
Therefore, purpose must show up in your EVP and other talent management approaches to inspire and motivate. This includes real and urgent action on ESG and DEI issues which are desperately needed and highly motivating to the next generation of workers. Finally, culture and wellbeing cannot be neglected. A happy workforce is a motivated one that will improve your brand’s reputation and increase performance over the long term. Therefore, you should work to earn your employee’s loyalty the same way you would strive to satisfy a customer or client.
All of our Core Four strategic priorities are crucial, and each is worthy of a more detailed account at greater length. At BCG BrightHouse, we are dedicated to diving deep into these areas in 2023 while considering the breadth of all they cover. Tremendous potential can be realized by incorporating the Core Four into work and understanding how they relate to each other. BCG and BCG BrightHouse stand ready to assist others where help is needed.