Deloitte today announced the results of the fourth annual “Global Chief Strategy Officer Survey,” a study sponsored by Monitor Deloitte, the strategy practice of Deloitte Consulting LLP, that provides unique insights into how the strategy function and the chief strategy officer role have evolved and the proactive steps organizations are taking to keep pace with the shifting markets.
The findings in this year’s report center around three key themes:
The Strategy function and CSO role are modernizing and evolving
CSOs play a key role in guiding organization growth, profitability and in building resiliency. As organizations continue to adapt to the evolving environment, survey respondents noted structural and fundamental changes in their strategy functions. Specifically, they are more formalized (74% of respondents report a formal strategy function and personnel), larger in size (35% of organizations report having more than 10 dedicated personnel), and more agile.
The word for CSOs in 2023 is “Intersection”
CSOs are increasingly convening conversations at intersections both within and beyond their organizations. To drive actionable change and growth within their organization, CSOs have moved away from a centralized operating model and are increasingly operating at the enterprise level as well as the business unit and functional level. This federated structure, which increased in prevalence by 15% from 2021 to 2023, enables CSOs to work at the intersection of strategy and execution to drive business success and talent development. Outside of their organization, CSOs are active in determining their organization’s role and participation in the business ecosystems that their organizations participate in. The benefits of ecosystem involvement are increasing, and the survey data shows a strong correlation between organization performance and ecosystem participation — Top performing organizations are more likely to adopt an ecosystem mindset, with 81%…
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