In today’s fast-paced business environment, mastering value creation has become a crucial competitive advantage. HBR Analytic Services (Harvard Business Review) has highlighted in the special report “Mastering Value Creation by Centering Strategy and Execution” the crucial importance of aligning and tying strategy with execution to drive business performance. The findings are backed by more than 30 quotes from leading experts including Prof. Rita McGrath, Columbia Business School, and Prof. Simon Grand, St. Gallen University, and data references from Boston Consulting Group and McKinsey.
At CovQ by 8W8, we believe in pushing the boundaries of knowledge and expertise by empowerment. We’re thrilled to announce the launch of our new specialized modules tailored to meet the unique needs of various functions, industries, and tasks. Dive deeper into Mastering Value Creation™ with our enhanced offerings that go beyond the CovQ Core 360 Degrees Value Drivers for CEO’s and management teams, bringing you the precision and insights needed for peak performance in specific domains. All modules can be customized by applying CovQ+.
CovQ by 8W8, in association with HBR Analytic Services, is thrilled to have produced in association with HBR Analytic Services the illuminating Special Report titled ‘Mastering Value Creation.’ This exclusive report, available for download from 8W8.com and HBR.org (Harvard Business Review), is the culmination of an intensive four-month research endeavor. It features insights gleaned from in-depth interviews with distinguished academics such as Prof. Rita McGrath from Columbia University and Prof. Simon Grand from St. Gallen University, as well as references to authoritative sources including BCG and McKinsey, along with insights from CovQ by 8W8 and CovQ clients.
8W8 Global Business Builders developed in collaboration with more than 70 entrepreneurs, executives, board members, investors, consultants, and academics the value-driver-based CovQ (Compound Value Creator Quotient) assessment system, or put simply: ‘the Corporate IQ of a Company,’ and is now releasing the CovQ Benchmarks Insights 2024. All companies included took the CovQ assessments with multiple participants of their management teams. Executive team alignment levels are measured as well and are part of the dataset.
Can a company have a corporate IQ? Yes, it can if you use data to assess, identify and deploy its attributes and value drivers through mission and value-creation-focused systems.
Two recent Harvard Business Review titles were about strategy: ‘Strategies for Turbulent Times – A new way plan for the unknown’ and ‘How good is your Company at Change? You can improve your ability to adapt.’ Strategies have the sole purpose of delivering the company’s mission so everything needs to be cascaded and implemented into the organization starting at the very top. Therefore it is essential that executive management and also boards are aligned as much as possible and are proactive because this is the basis for all internal and external communication and for defining mission-critical priorities, strategies, actions, and goals.
According to Gartner research, only 29% of strategy leaders believe their plans change quickly enough in the face of unforeseen change. In just the past few years, enterprises have had to navigate a global pandemic, economic volatility and generative AI — cosmic shifts that can affect everything from budgeting to staffing to supply chain. A nimble strategic plan is crucial for businesses to come out the other side unscathed — or better.
The Value Creation OS CovQ (Compound Value Creator Quotient) has been amplified by the new module CovQ+ allowing forward-thinking management teams and partners to develop customized value drivers, which can be added to the CovQ Assessment’s 60 core value drivers in order to address a companies’, business units’ or functions’ specific needs, domain uniqueness, data sources and competencies. The value creation OS CovQ encompasses a corporate IQ assessment system, a framework, method and knowledge for digital strategy management and team collaboration and alignment.
Hello Bard, could you please describe the Value Creation OS CovQ (Compound Value Creator Quotient) in your own words and lay out the related business building process and strategic planning steps and best practices? “Sure. CovQ is a value creation operating system (OS) that helps companies to improve their value creation capabilities. It does this by providing a framework for assessing the company’s current value creation capabilities, identifying areas for improvement, setting goals and objectives, developing a strategic plan, implementing the plan, tracking progress, and making adjustments as needed.