The EY 7 Drivers of Growth

Technology is transforming every aspect of the business. It enables business leaders to make better, quicker and smarter decisions that respond to rapidly changing customer needs, improve business performance and manage risk.

Digital, technology and data analytics are all having a profound impact on businesses in every industry, presenting significant opportunities and challenges. Digital technologies are fundamentally changing how customers interact with these businesses and opening up new business models that embrace sector convergence.

Organizations that are successfully harnessing the power of technology are using AI and RPA to enhance human potential, enable increased focus on innovation, creativity and strategic thinking and create a powerful competitive advantage. 

An organization’s operating model is the link between its strategic intent and the ability to deliver on that intent. Having a clear approach that aligns operations with strategy will increase a company’s ability to achieve success as they contend with changing customer needs and buying patterns, sector convergence, and new market entrants.

Market leaders drive a culture of continuous improvement, considering all aspects of operations at a macro and micro level. Focused on the details, they understand that every aspect of their business must hold up to scrutiny and be constantly improved to stay ahead of the pack.

Operations need to be highly flexible so they can adapt quickly to changing circumstances to seize business opportunities as well as mitigate key risks.

All businesses need funds to grow. How a business manages its money — and its new investors — will determine its course for the future.

Driven by their growth strategy, leading businesses determine the best financial approach at every stage, deriving maximum benefits from their management of available funds.

To achieve this, they transform their finance function into one that acts more strategically and commercially, where the CFO becomes an economic advisor who helps improve performance by delivering critical insights to decision-makers. 

Market-leading businesses rarely evolve by organic growth alone. To rise to the top, they seek successful partnerships and strategic acquisitions capable of enhancing their growth, competitiveness and profitability.

Leading businesses are quick to grasp the value of transactions and alliances in today’s dynamic markets. They appreciate that landing the right deal or finding the right partner is not about luck. They make a concerted effort to align their transactions and alliances to their overall growth strategy, remaining alert, building profile in their markets and positioning themselves to successfully seize opportunities as they arise. 

Good risk management delivers reduced volatility within the business. There is a strong correlation between the maturity of risk management and both top- and bottom-line growth.

At every stage of a business’s growth, the ability to identify and manage risk stands out as a vital element of success. Market-leading businesses find the right balance between risk management and risk taking to navigate change and drive sustainable growth.