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Darrell Rigby, a partner with Bain & Company and leader of Bains Global
Retail and Global Innovation practices, has conducted Bains Management
Tools & Trends survey since 1993. Barbara Bilodeau is the director of Bains
Advanced Analytics Group.
Disagree
75%
13%
74%
9%
74%
10%
Over the next three years, our IT spending must increase as a percent of sales
64%
16%
62%
19%
60%
18%
59%
13%
58%
22%
57%
22%
The principles and passions of our founders still dominate our operating practices today
57%
22%
I am very concerned about the impact that a cyber attack could have on our business
55%
23%
55%
24%
Increased price transparency has had a major impact on our pricing strategy
54%
14%
Over the next three years, we will focus more on revenue growth than cost reduction
52%
27%
52%
14%
48%
24%
46%
29%
42%
32%
Our top management is unwilling to take greater risks for higher returns
39%
39%
29%
56%
2004
2006
2008
2010
2012
2014
81%
75%
75%
86%
79%
76%
81%
74%
74%
67%
62%
Over the next three years, our IT spending must increase as a percent of sales
65%
64%
64%
58%
68%
63%
60%
61%
54%
56%
53%
63%
57%
52%
74%
57%
55%
Im very concerned about the impact that a cyber attack could have on our business
50%
55%
65%
51%
46%
45%
50%
46%
49%
42%
Increased price transparency has had a major impact on our pricing strategy
Over the next three years, well focus more on revenue growth than cost reduction
As always, tool preferences and satisfaction varied significantly from region to region (see Figure 4). But this
years findings highlight a distinct split between North
American companies, which strongly prefer traditional
tools, and Chinese and Indian companies, which reported
greater use of new-school tools like Disruptive Innovation Labs.
Few executives are extremely satisfied with their organizations performance on any company metric, including
financial results, competitive positioning, customer equity,
long-term performance capabilities and organizational
integrationa result that tracked with 2013 findings.
Organizational integration ranked lowest, a result that
could be linked to executives concern about excessive complexity. Nearly 6 out of 10 executives said that
they favor long-term results over short-term earnings.
Reflecting the various stages of economic recovery underway around the world, companies in China, India and
North America were the most upbeat. When asked if
3
Asia. Globally, 57% of executives said they expect effective mergers and acquisitions to be critical to success
in their industry, with 74% of Chinese and Indian executives agreeing.
N. America
EMEA
APAC
L. America
1(t)
2(t)
Benchmarking
2(t)
2(t)
1(t)
14
2(t)
9(t)
Strategic Planning
2(t)
2(t)
5(t)
3(t)
5(t)
9(t)
Balanced Scorecard
6(t)
7(t)
3(t)
15(t)
6(t)
18
7(t)
10
2(t)
13(t)
6(t)
21
9(t)
Outsourcing
10
14(t)
6(t)
12(t)
Core Competencies
11(t)
10
11(t)
11(t)
16
Customer Segmentation
19(t)
10
15
Strategic Alliances
17
Digital Transformation
Note: (t)=tied
N. America
EMEA
APAC
L. America
48%
50%
48%
38%
Benchmarking
50%
50%
29%
42%
55%
41%
38%
31%
Strategic Planning
50%
31%
42%
52%
Outsourcing
42%
44%
42%
31%
Balanced Scorecard
39%
44%
28%
39%
45%
37%
27%
36%
39%
30%
48%
24%
37%
39%
24%
31%
Customer Segmentation
22%
39%
31%
34%
27%
24%
52%
17%
Core Competencies
36%
23%
39%
15%
22%
25%
47%
28%
34%
24%
28%
24%
22%
21%
32%
35%
23%
19%
34%
19%
Strategic Alliances
19%
19%
26%
32%
22%
17%
31%
14%
Digital Transformation
14%
14%
33%
15%
20%
15%
16%
17%
Complexity Reduction
15%
17%
26%
14%
15%
14%
28%
15%
7%
9%
22%
4%
Zero-based Budgeting
10%
6%
13%
9%
7%
6%
17%
3%
N. America
EMEA
APAC
L. America
68%
75%
88%
75%
63%
83%
84%
74%
76%
71%
76%
71%
Over the next three years, our IT spending must increase as a percent of sales
58%
56%
83%
65%
64%
60%
54%
68%
55%
67%
68%
53%
54%
56%
85%
46%
53%
49%
80%
56%
50%
58%
74%
54%
Principles and passions of our founders still dominate our operating practices
55%
43%
71%
64%
60%
47%
74%
36%
61%
44%
80%
31%
Increased price transparency has had a major impact on our pricing strategy
49%
54%
76%
43%
Over the next three years, well focus more on revenue growth than cost reduction
49%
45%
72%
49%
47%
45%
83%
38%
43%
39%
75%
45%
36%
56%
57%
40%
37%
40%
57%
40%
Our top management is unwilling to take greater risks for higher returns
35%
36%
49%
40%
28%
27%
34%
30%
loyalty/experience was their No. 5 priority in 2015, behind revenue growth, cost cutting, increased profitability,
and innovation/new products. Of course, developing
innovative products and services is one way companies
can differentiate themselves from the competition and
keep customers coming back. Another tool related to
improving customer loyalty, Customer Segmentation,
ranked 10th in usage and third in satisfaction in 2014.
European companies were the biggest users of Customer Segmentation.
The urge for a more sustainable economy also may be
spurring investment in innovation. Governments, companies and consumers increasingly are embracing sustainable products and processes. Globally, 59% of executives said sustainability initiatives are improving their
growth and profits. In particular, midsize companies
concurred, with 71% of executives seeing growth opportunities linked to sustainability initiatives. Regionally,
China and India had the strongest response, with 85%
agreeing, compared with 54% in North America and
46% in Latin America.
As companies battle with complexity, Zero-based Budgeting may be another tool poised to rise in usage: A
more radical approach much under discussion in boardrooms, it starts with reenvisioning the business from
top to bottom. By starting with a blank sheet of paper,
Zero-based Budgeting helps managers look beyond their
existing organizationparticularly those with complex
structures following mergers or acquisitionsand design
an ideal structure based on strategic goals. Zero-based
Budgeting has relatively low usage and satisfaction, but
47% of executives said they plan to use it in 2015, with
particularly strong consensus (80%) in China and India
and among midsize companies (60%).
CUSTOMER RELATIONSHIP
MANAGEMENT
BENCHMARKING
USAGE
SATISFACTION
USAGE
SATISFACTION
46 %
3.93
44 %
3.80
The ranking of the Big Data Analytics tool in 2015 underscores the management trend. The tool helps companies
glean valuable insights from massive quantities of data
that can fuel growth. Introduced to the survey in 2012,
it ranked first in satisfaction in 2014 and 11th in usage.
Executives at midsize companies were the most concerned (61%) about an attack, followed by large companies (59%) and smaller companies (45%).
Why are companies so ill-equipped to deal with the
growing threat of cyber attacks? In our experience,
companies often suffer a disconnect between their risk
management efforts and the development of cybersecurity
capabilities. We also see inconsistency in the way companies approach security planning, operations and funding.
EMPLOYEE ENGAGEMENT
SURVEYS
STRATEGIC PLANNING
USAGE
SATISFACTION
USAGE
SATISFACTION
44 %
3.75
44 %
3.93
Another trend linked to growth and the digital transformation is the desire to better understand customers.
Leading companies know that improving customer
loyalty can help raise revenue and profits. The desire
cuts across industries, as retailers, bankers, insurers,
manufacturers and utilities search for ways to better
understand their customers desiresand prevent them
from defecting to rivals. In this years survey, 62% of
executives expressed concern that customers are less
loyal to brands than they used to be, and 46% said insufficient consumer insight is hurting their performance.
OUTSOURCING
BALANCED SCORECARD
USAGE
USAGE
SATISFACTION
SATISFACTION
41 %
3.61
38 %
3.90
10
SUPPLY CHAIN
MANAGEMENT
USAGE
SATISFACTION
USAGE
SATISFACTION
38 %
3.82
36 %
3.85
11
10
CHANGE MANAGEMENT
PROGRAMS
CUSTOMER SEGMENTATION
USAGE
SATISFACTION
USAGE
SATISFACTION
36 %
3.69
30 %
3.96
determined to increase investment in IT (83%) compared with North America (58%), Europe (56%) and
Latin America (65%).
Summing up
The six most popular tools of 2012 remained in the top
six for 2014, with Customer Relationship Management
the No. 1, followed by Benchmarking, Employee Engagement Surveys, Strategic Planning, Outsourcing and
Balanced Scorecard (see Figure 7). Core Competencies
was the only tool to drop out of the top 10 from 2012.
Comparing the top 10 tools over a 10-year period, Strategic Planning, Benchmarking, Outsourcing, and Mission
and Vision Statements consistently remain in the top 10.
Figure 6: North American executives were much less satisfied with the majority of tools, Asia executives
much more satisfied
Global Avg=
3.84
Global
N. America
EMEA
APAC
L. America
4.01*
3.69
3.87
4.43
3.94
3.97*
3.81
3.83
4.18
4.05
Customer Segmentation
3.96*
3.91
3.94
4.17
3.87
3.95
3.63
4.00
4.19
3.83
Digital Transformation
3.94
3.73
3.81
4.28
3.73
3.93*
3.86
3.82
4.24
3.87
Strategic Planning
3.93*
3.83
3.89
4.20
3.92
3.92
3.62
3.79
4.24
3.56
Balanced Scorecard
3.90
3.78
3.86
4.28
3.91
Strategic Alliances
3.90
3.92
3.80
4.11
3.80
3.87
3.81
3.83
3.95
3.98
3.87
3.67
3.64
4.29
3.73
3.86
3.76
3.76
4.13
3.71
3.85
3.70
3.77
4.09
4.00
3.82
3.72
3.71
4.07
4.05
Benchmarking
3.80
3.74
3.86
4.15
3.61
3.80
3.69
3.60
4.27
3.82
3.78
3.58
3.66
4.21
3.72
Core Competencies
3.78
3.75
3.62
3.95
3.81
3.76
3.55
3.66
4.08
3.89
3.75
3.64
3.89
3.84
3.79
Zero-based Budgeting
3.72
3.56
3.71
4.00
3.67
3.69**
3.59
3.67
3.96
3.76
Complexity Reduction
3.67**
3.34
3.45
4.09
3.89
Outsourcing
3.61**
3.60
3.39
3.98
3.51
13
Significantly lower
Satisfaction
CRM
Benchmarking
46%*
44%*
3.93*
3.80
44%*
44%*
41%*
38%*
38%*
36%*
34%*
30%
3.75
3.93*
3.61**
3.90
3.82
3.85
3.69**
3.96*
29%
29%
29%
28%
26%
24%**
22%**
21%**
18%**
4.01*
3.78
3.97*
3.87
3.78
3.86
3.90
3.76
3.94
18%**
17%**
17%**
10%**
10%**
8%**
3.80
3.67**
3.87
3.92
3.72
3.95
Significantly above the overall mean **Significantly below the overall mean (usage=28%, satisfaction=3.84)
Strategic Planning
Benchmarking
Outsourcing
Balanced Scorecard
Change Management
Customer Segmentation
Core Competencies
Reengineering
TQM
Loyalty Mgmt
Strategic Alliances
Scenario Planning
Digital Transformation
Price Optimization Models
20
Complexity Reduction
Zero-based Budgeting
4.10
Satisfaction
14
42%
60%
18%
Complexity Reduction
40%
57%
17%
40%
61%
21%
39%
63%
24%
Strategic Alliances
38%
60%
22%
Core Competencies
38%
67%
29%
37%
37%
54%
47%
17%
10%
Customer Segmentation
37%
67%
30%
37%
63%
26%
35%
35%
64%
64%
29%
29%
Digital Transformation
35%
53%
18%
34%
44%
10%
33%
79%
46%
33%
67%
34%
Strategic Planning
33%
77%
44%
33%
71%
38%
Benchmarking
Employee Engagement Surveys
33%
30%
77%
74%
44%
44%
28%
36%
8%
27%
55%
28%
Balanced Scorecard
Supply Chain Management
27%
27%
65%
63%
38%
36%
Outsourcing
26%
67%
41%
4.22
3.65
4.22
3.70
Balanced Scorecard
Total Quality Management
4.19
4.19
3.53
3.57
Customer Segmentation
4.17
3.69
Digital Transformation
4.17
3.52
Strategic Alliances
4.12
3.64
4.11
3.70
4.09
3.63
4.09
3.62
4.08
4.07
3.64
3.55
Strategic Planning
4.07
3.63
4.03
3.59
4.02
3.52
4.01
3.51
4.00
3.53
4.00
3.58
4.00
3.54
Zero-based Budgeting
Core Competencies
3.93
3.91
3.43
3.59
3.87
3.59
3.82
3.53
Complexity Reduction
3.82
3.49
Outsourcing
3.72
3.50
15
2.
3.
4.
The larger the company, the more likely it is to use the vast
majority of tools. But tool use increased in midsize
companies.
On average, large companies used 8.1 tools in 2014 compared with midsize firms usage of 7.6 tools (up from
6.8 in 2012) and smaller companies usage of 5.3 tools.
Regional variation in tool use is significant. China and
India used the highest average number of tools in 2014
(8.0) compared with North America (7.2), Europe (6.6)
and Latin America (6.2). Industries with the heaviest
tool use are transportation and tourism, manufacturing,
and technology and telecommunications.
The tools projected to have the biggest gain in usage in
2015 are Scenario and Contingency Planning, Complexity
Reduction, and Organizational Time Management.
As companies seek to grow and innovate in an era of rapid
technological change, we offer the following four suggestions based on our research to help managers get the
most out of the tools they choose.
1.
Get the facts: Every tool has strengths and weaknesses. And tools usefulness can change over time.
To succeed, companies need to understand the full
effects of each tool and then combine the right ones
in the right ways at the right times. Peruse the research
and talk to other tool users. Dont naively accept
hyperbole and simplistic solutions.
16