With an average tenure of 4.2 years,1 a new CPO is in the proverbial corporate ‘hot seat’ and under immense pressure to deliver immediate improvements and cost savings and to be seen as an enabler to an organization’s growth and change agenda.
According to KPMG’s 2017 Global CEO Outlook,2 one in four CEOs (26 percent) expects their business to be transformed into a significantly different entity within 3 years — down from 41 percent in 2016. This data point at first appears to go against CEOs’ stated drive for disruptive innovation. Yet a closer reading of the data suggests that the picture is more nuanced. We see CEOs’ appetites for transformation varying markedly by region, due to local market pressures and geopolitics. Respondents in China, India, Australia and Japan are more likely to expect their businesses to become significantly different entities within 3 years; those in the US and Europe are less likely to expect this. Organizations must respond to and, more importantly, set and execute strategic plans that meet the opportunities and challenges presented by external factors and disruptors, particularly in areas of accelerated change such as technological innovations and the rise of the new customer. Furthermore, according to KPMG’s Demand Driven Supply Chain 2.0, ‘these ‘new customers’ are more connected, informed and empowered, and continually demand more choice of product flexibility and speed of service.’3 So what does this mean for your role as the new CPO?
KPMG member firms have had the benefit of working across boundaries, geographic and organizational, supporting CPO’s to establish themselves up, build and maintain a momentum in the transformation journey. Regardless of how you came to this position, through internal promotion, as a lateral hire, or a lateral move, or even what you aim to do after your time in this role, the challenges faced by a CPO at any time, can be exacting. This paper aims to capture the learnings and create aspects for a CPO to remember in navigating and guiding their first 100 days of the new job, new structure, or new transformation objective.
The journey begins with three key aspects. The basis of the first 100 days lies in understanding, managing and developing the way forward.