C-Suite Intelligence 3rd August 2020

Winmark's C-Suite Intelligence service provides news, content and research to help leaders across all C-Suite functions overcome the significant challenges they are currently facing

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Keeping staff and businesses safe when using AI in a crisis
Digital Pulse
Organisations need to find ways to help safely return employees to the workplace such as those provided by the use of AI tools. If misapplied, privacy and data ethics concerns could lead to negative results and damage employee trust. Businesses need to examine their ethics policies and be strategic about the tech and vendors they engage with.
Before sending employees back to the office, leaders should be sure they have responsible data, technology, and AI governance practices. Keeping the following three imperatives in mind will help organisations stay on the right track. 
  1. Evaluate your existing data and technology ethics practices - or create new ones. Be transparent and have clear guidelines up front to build trust with employees, customers, and business partners, and ensure that these policies and standards apply to both in-house solutions and externally developed ones.
  2. Be strategic in dealing with data and technology. Only collect the data your company actually needs, and limit the scope of its application and collection to the use cases at hand.
  3. Examine your vendor agreements. Consider the data requirements of any vendor solution and limit the scope of the employee and customer data you are willing to share. 


Strategies to keep ahead of the accelerated pace of change
McKinsey & Company
The COVID-19 crisis has intensified existing trends, widening the gap between those at the top and bottom of the power curve of economic profit. Will your strategy keep you ahead of the accelerated pace of change?
Decision making and execution are likely to be hampered by the high levels of uncertainty still present around the COVID-19 situation, but waiting for clarity may come at a high cost. Research on corporate resilience clearly demonstrates that companies that move early in a crisis often gain a lead that is maintained for years to come.
Creating a plan-ahead team can help. Task this small group of high performers with shaping option-rich plans that are stress-tested against multiple scenarios. Then, once you have developed a robust portfolio of moves, you can dynamically evolve your strategy as you learn more.
Actions to keep B2B service offerings relevant
Bain & Company
Half of B2B companies recently surveyed by Bain & Company said their approach to product offering management impedes success.

Asked what actions could be valuable, two-thirds of respondents chose refocusing their marketing messages to highlight the most relevant features for particular segments. Some 44% of respondents pointed to modifying the offering itself.

Amid great uncertainty about how customer demand will change over the next few years, success hinges on sensing how the market evolves, then quickly responding with features that deliver the right types of value to different customer segments.

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