Large, established organisations – which are built to drive an advantage from scale – are finding that smaller, more agile players have a competitive edge. As industries such as financial services have seen, disruptors are targeting key elements of the value chain, such as fintechs’ moves into the payments industry.
Today, more than ever before, leading a business is about challenging convention and driving radical change. Eighty-six percent of CEOs in the survey say that they have to act with agility and champion new ways of creating value to ensure that they are not left behind. They cannot be slow and cumbersome in a fast-moving age. This means being more customer-centric, increasing the speed of innovation and collaborating across organisational boundaries.
CEOs are aggressively trying to position their companies to remain agile and survive amongst incredible technology-driven disruption. Nigerian CEOs rank driving growth via strategic alliances (35 percent) as the number one priority to achieve growth objectives over organic growth (22 percent) and joint venture (20 percent).
This is further underpinned by the fact that Nigerian CEOs are more likely than their African and global peers to undertake a number of actions relating to innovation and collaboration to drive growth. Three-quarters intend to set up accelerator or incubator programmes for start-up firms and 68 percent intend to collaborate with innovative start-ups.