Business leaders at the CBI Annual Conference gave their tips for boosting resilience and capitalising on opportunities ahead
It may seem like the challenges of going after global growth have never been so hard. In 2022, businesses have faced ongoing Covid lockdowns, sanctions regimes, and supply chain snarls as they’ve navigated international markets. But by focusing on resilience, globalisation, and diversification as we head into 2023, you’ll be best placed to capitalise on the opportunities a dynamic global landscape can create – and our speakers at this year’s CBI Annual Conference helped us to understand how.
Building resilience in the face of global headwinds
If anyone can give us a lesson in resilience, it’s Pfizer’s Susan Rienow. Mission-driven leadership and commitment from the top down meant the company could turn around the Covid vaccine in nine months, rather than nine years. But innovation and new ways of working also meant there were no interruptions to the supply chain of other essential medicines. Those disciplines have given Pfizer a new edge both for product development and its operations which it can take advantage of in a post-pandemic world too.
Globalisation and diversification
Total onshoring of supply chains in the UK is impractical – at best – if you have a truly global supply chain. But whether you’re multinational or multi-local (as in PZ Cusson’s case), strong relationships in each market and region are essential if you’re to deal with issues as they crop up.
PZ Cussons takes a market-led approach across its highly diverse product lines, which allows teams with regional expertise to address competitive pricing and supply chain issues.
Finding new sources of trade opportunity and expanding supply chains
Our conference speakers each had a different perspective on where global opportunities for expansion lie – whether it’s the potential of Free Trade Agreements, harnessing national strengths or going after green growth.
And the good news from Shaun Doyle of British Airways is that international business travel is heading back to pre-Covid levels, and the airlines are using the opportunity to rethink their routes, based on customer demand. BA has just opened a new business route into Cincinnati, for example.
