Photo: Cover of Panorama magazine Italia
While uncertainty continues, focusing on innovation is your best chance of success. British Prime Minister Theresa May has repeatedly said, "Brexit means Brexit." This statement ensures that every business operating in the UK will experience an uncertain and volatile market environment for some time. In our conversations with CIOs and chief technology officers (CTOs) since the Brexit vote, Forrester has retained its view that only if companies retain a focus on customers will they ensure growth and innovation, especially in times of uncertainty. All CIOs and CTOs at businesses operating in the UK should:
- Make the business case that innovation can help their firms deal with uncertainty. Top management will be distracted by many short- term tactical considerations relating to Brexit. Make the case that innovation will move you closer to your customers and help to deal with underlying uncertainty.
- Partner with their risk managers. Developing innovations that rely on customer and machine data will expose businesses to regulatory and compliance risks. Plan your business technology and innovation strategies with the risk manager on your side.
The report Brexit Makes Customer-Focused Innovation Imperative summarizes Forrester’s recent discussions and outlines how companies can best drive their innovation in the wake of Brexit.