“Get loose and grow”: the secrets of companies listed on the Fortune

Most recently at Business Wisdom Summit we Ukrainian managers discussed the challenges to business growth in our country, comparing them with the calls for international top managers.

What distinguishes the largest companies, heads the ratings and our businesses? What we should learn from the global giants?

The key is breakthrough changes that major companies and managers ready to implement in their businesses to grow quickly. Our global survey of trends in business development which includes over 1,200 managers worldwide, this year called “Disrupt and Grow” — in other words “get loose and grow.”

An important aspect of business development is the ability to identify key challenges and to find in them opportunities for growth. In 2016 the world of SEO has called such underlying business risks in order from most important: cybersecurity; regulatory environment; latest technology; strategic aspects; geopolitics.

In 2017, we saw an interesting reshuffle in the lists of priority risks. The five most significant risks in 2016 dominated the cyber security threats and regulatory risks that is associated with a significant increase in the level of government control in recent years, and with constant powerful attacks and hacker invasions, information on which is published on the front pages of Newspapers. In 2017, the focus has shifted, and critical challenges are: operating activities; latest technology; reputation and brand; strategic aspects; cybersecurity.

It is interesting that Ukrainian top-managers as a key risk for business in 2017, also called operations. The most important challenge for them is attracting talent and competency development of staff.

Analyzing global and local approaches, I have identified 5 key skills for the Ukrainian Manager that will allow you to grow your business and move forward. This: Agile — flexibility and speed at the same time, the ability to respond quickly to change. Developing such qualities requires the following skill, such as understanding their strengths and weaknesses, and a willingness to learn and develop missing qualities. The absolute most successful CEOS are open to new experiences and learn every day. But your growth is not enough, you must also develop your team. Therefore, another important skill is the ability to find talents and to raise qualified staff, which is ready to accept today’s challenges. It is equally important to be closer to the people — that means to keep abreast of developments both within the company and in the external environment, have the necessary and relevant information on the market and economic environment. For any Manager is a risk of being trapped in a scheme of processes, meetings, decisions and break away from reality. And to avoid this you also need to Keep in focus the customersand their needs and not to forget that your business works for them. To do this, to communicate with partners and customers as often as possible, both directly and through new communication channels, tracking their priorities and offering the best solutions.

Of course, business growth also needs to fit in with market trends. And in order to stay relevant Ukrainian environment, you need to consider such trends as the rapid technological changes that affect any multi-faceted business. They have an impact not only on our operating performance, which, recall, is the high-risk zone, but also on relationships with employees and customers. Yet for many, the phrase “big data” and “big analytics” are beyond comprehension, but it is already clear that they are the future. Big data Analytics allows us to study the consumer and employee as fully as possible — his preferences, sleep time, lifestyle, nutrition, etc.

Taking into account the market situation, don’t forget to believe in yourself. Many Ukrainians inherent flexibility of mind and innovative thinking, and the absence of some established traditional approaches due to the historical factors, gives us a certain advantage over Western companies. Therefore, I am confident that Ukraine, having highly talented professionals in IT and other fields, has the potential to leapfrog several steps of the classical development of the economy, implement technologies and innovative business models.