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Thriving on Disruption:How utilities can become fearless in the face of devastating innovation
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Only 30% of Chief Strategy Officers from utilities organizations believe their company is prepared for sudden industry disruption.
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What can utilities do to prepare?
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New Accenture research, of more than 560 Chief Strategy Officers representing 10 industries and 11 countries, found that disruption-ready companies are both strategizing and operating in remarkably different ways—an approach Accenture calls thriving on disruption.
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Don’t face disruption alone. Deepen and broaden alliances with a diverse array of companies in and beyond the industry.
Make yourself indispensable. Become a critical part of the integrated solutions that customers demand.
Embrace operational flexibility. Consider what organizational changes will be needed to be more collaborative and open.
Copyright © 2016 Accenture All rights reserved.
What it takes to thrive in the face of devastating disruption
Three new imperatives:
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Don’t face disruption aloneA growth agenda based on collaboration with partners
Take action:• Collaborate with greater intensity • Embrace a wide range of partners• Seek out non-traditional partnerships to help evolve into new market
opportunities• Use collaborative partnerships to pivot on core strengths—with the
potential to grow into entirely new offerings
50% of Utilities CSOs state* that their company’s growth agenda will rely on collaborative partnerships in the next 5 years (*significant/to a very large extent)
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Make yourself indispensable A key ingredient for disruption preparedness: Platform investment
Invest in new platform business models that can unlock hidden value for customers, partners and the organization.
% of Utilities CSOs stating that their company engages in this practice somewhat more/significantly more than five years ago
78%Integrate new technology, techniques and knowledge into the business
76%Use acquisitions to bring new technology, techniques people into the business
71%Integrate the company’s offerings into a larger network of offerings
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Break through complex business processes and traditional corporate cultures, accelerating operational changes to nurture external collaborations simply and effectively.
Embrace operational flexibility A rethink of operations to build greater flexibility
Implement new operating procedures in collaboration with partners
Change internal processes to ensure the company can quickly shift resources to address critical needs
Provide incentives for employees to engage in alliances with other companies
Copyright © 2016 Accenture All rights reserved.
% of Utilities CSOs stating that their company engages in this practice somewhat more/significantly more than five years ago
73%
68%
71%
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About AccentureAccenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 373,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
About the ResearchThe Accenture Institute for High Performance surveyed 561 chief strategy officers between November 2015 and February 2016. Our goal was to identify the attitudes and behaviors of companies that reported being most prepared for disruptive innovation in their industries. The questionnaire was a combination of open-response interview questions as well as closed-response single- or multiple-choice selections. Participating CSOs represented companies headquartered in 10 industries and 11 countries, all with reported revenues of over US$1 billion. Learn more about Thriving on Disruption.
Copyright © 2016 Accenture All rights reserved.
Copyright 2016 @ Accenture. All rights reserved. Proprietary and Confidential of Accenture. Accenture, its Logo and High Performance Delivered are trademarks of Accenture.
