While that may not be surprising, a “significant lack of confidence in senior leadership’s strategies” is disturbing, and suggests the need for greater C-suite outreach among key stakeholders, namely employees, customers and investors. The numbers:
- 34% of respondents are “skeptical of plans being put forth by senior executives.”
- 51% of managers not reporting to the C-level manager expressed similar doubts.
The Booze&Co. report concludes that these numbers may result form:
- “Executives inability to communicate the elements of their plans,” or
- “The plans simply don’t resonate with many of the people who must make them happen.”
The study suggests the existence of a significant gap between logical actions and actual actions of senior executives, which is creating a world view that “isn’t always realistic.” Booz researches suggest three steps to remedy this problem.
- First, executives should get “an accurate read” on their business environment and their company’s relationship to it.
- Second, they then must pick an appropriate response to the situation, thus “there are many different ways to strengthen the balance sheet….”
- Finally, essential to regaining wary stakeholders’ confidence is effective communications and decisive action.
[The full study is available at the Booz&Co. Web site.]
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