Growing quickly and efficiently—what company doesn’t aim for something similar? The concept of Business Decisioning is a crucial ally in this process, guided by data and analysis to achieve more informed and accurate decisions.

In a landscape of rapid information and complex decisions, business decisioning strengthens itself as a process optimizer and risk reducer.

In the coming years, CEOs face significant challenges. Ensuring that the right decisions are made is essential.

A McKinsey survey evaluating the priorities and actions of top-performing CEOs worldwide identified three trends they believe will have the greatest impact on their leadership and business in 2023: the rise of digital disruption, the risk of prolonged high inflation and economic slowdown, and the escalation of geopolitical risks.

The survey also revealed actions being taken to better control the situation in light of the anticipated scenario. These initiatives provide inspiration for CEOs across industries to adopt a Business Decisioning approach, which can serve as a growth hack—a work model with growth as its core premise.

Business Decisioning Trends

‍To address the rise of digital disruption, CEOs highlighted three practices being implemented:

Development of Advanced Analytics

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The application of advanced analytics gives companies a competitive edge, making it highly valuable. An example is the use of geolocation data to personalize and target content for followers. Tools like ChatGPT are also emerging as drivers of advanced analytics.

Enhancing Cybersecurity

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Cyber threats and breaches pose significant risks to organizations, leading to substantial investments in modernizing structures and tools, incorporating security controls, and training employees to remain vigilant.

Work Automation

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Many companies have already embraced automation to reduce costs and boost productivity. Technology plays a key role in driving automated processes, bringing greater agility and benefits to businesses.

Economic uncertainty is also a concern for the interviewed CEOs, and measures are being implemented for protection.

Here are the actions taken in response to high inflation and economic contraction risks:

Reducing Operational Expenses

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Tax optimization, renegotiating the supply chain, enforcing expense policy restrictions, and improving employee productivity are some initiatives that go beyond job cuts and workforce reductions.

Redesigning Products and Services

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Supported by the reductions mentioned above, companies can improve their products and services, focusing on attracting and retaining customers. By offering more value, customers become more satisfied, leading to increased spending.

Reevaluating Strategic and Economic Assumptions

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Agile thinking, grounded in a systemic review of strategies, allows companies to adapt quickly to new environments, enhancing competitiveness and productivity.

The escalation of geopolitical risks highlights the need for companies to plan for various scenarios, ensuring they can act accordingly in each situation. Here are the key actions in this trend:

Developing Robust Compliance Resources

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It’s essential to enhance the way clients and companies are evaluated and invest in tools that assess the risk of business relationships. Although this may seem defensive, it is vital to remain competitive and avoid external interferences.

Building Resilience in Supply Chains

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Companies are continuously improving identifiable weaknesses in their supply chains.

Investing in Monitoring and Response Resources

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A company that seeks to turn threats into opportunities during crises understands it cannot be held back by negative indicators. Early warnings are needed to enable swift action.

Evaluating trends and knowing how to act in response is what will ensure a company’s competitiveness, especially one focused on growth. How is your decision-making process going?

It’s important to remember that wrong decisions can jeopardize the business and be costly. So, the more action and vision you have, the greater the chances for rapid and intelligent growth.

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