In this issue: Staying Ahead of the Game: the Latest Trends in Strategy, Stretch Healthy Stacy Delk, Stretch Academy, August 10 Stretch Chat

Today’s world of strategy is evolving to incorporate the “latest and greatest tactics” to get ahead of the competition. Here are four key points of differentiation and how they are changing the consulting landscape as we know it.

The Dawn of Artificial Intelligence

According to a recent CxO Pulse Survey conducted in June 2023, 97% of executives said generative AI will be transformative to their company and industry, yet many of its capabilities remain a mystery to most. AI is no longer a secret stowed away by the biggest and most powerful corporations; it’s now reaching all facets of society with the help of accessible models like Chat GPT and even art-generating AI like DALL-E, both created by OpenAI. Now that accessibility to AI is easier than ever, industry leaders provide fascinating insights into the tremendous capabilities specifically for the field of consulting. In fact, the CxO survey provides great data suggesting these trends regarding Artificial Intelligence: 67% of organizations plan to increase their level of spending in technology and are prioritizing investments in data & AI. Seven out of ten organizations have specific training programs planned for 2023 to ensure workers are prepared to use generative AI tools. Ultimately, companies must pivot to using AI to keep up with competitors whether they like it or not. Knowing this gives consultants a great opportunity to get ahead of their opponents as well. By adopting these AI practices in their organization, they can learn how to apply the same practices to their clients’ companies – a win-win for both consultants and their clients as both ultimately become more efficient and productive.

Embracing the Digital Shift

Another key trend in consulting is that independent firms have begun to differentiate themselves by no longer suggesting digitization for clients, but rather being the ones to implement the game-changing services themselves. Like Artificial Intelligence, digitization is a revolutionary shift in the field of consulting. In an April 2023 survey conducted by RSM, 82% claimed that implementing digital technologies has improved the analytics available to the board. This one example displays the great amount of potential in digitization that we are just beginning to exploit. Even simple adjustments – like transferring copies from paper to a database – can create significant value. For example, rather than spending hours searching for a specific document, with simple search workers can dig up files with a few quick keystrokes. Additionally, digitizing these files helps make the creation of a summary (or any further directive) easier to tackle with AI. This is a dramatic timesaver for companies; simple reports can be generated within a minute rather than hours of research and typing. And, because of this increase in digitization, SEO and data, is more powerful than ever when thought about as a strategy. Winning in the digital age can be difficult to maneuver, but leveraging SEO and data to defeat competitors can become a key advantage. In fact, the earlier mentioned RSM survey also mentions an additional two data points that provide valuable insights.

CONTINUE READING ARTICLE

Spots remain for September's Stretch Academy! Stretch Academy is a six-session in-person training that equips leaders with strategy and holistic leadership. Our next training starts September 13th. Call us at 513-807-6647 or email at info@stretch-sl.com to save your seat.

DOWNLOAD  BROCHURE

DOWNLOAD  TRAINING DATES

REGISTER FOR AUG 10 WEBINAR

What makes Stretch Academy different? Cyndi and Darcy bring passion along with 50+ years of combined experience supporting companies and people who want to grow. Stretch Academy integrates Leadership development with Strategy to deliver High Performance Teams. Learn more in this video!

Culture fuels strategy in a thriving business. And that's precisely how we help clients succeed. Working with mid-size, growth-oriented companies, we bridge the gap between culture, strategy & implementation. Stretch co-founders Cyndi Wineinger and Darcy Bien also serve clients through The Wineinger Company and Partners in Change.

‌ ‌

View as Webpage