2024 Chief Strategy Officer (CSO) Survey has been saved
Perspectives
2024 Chief Strategy Officer (CSO) Survey
As the world faces heightened uncertainty, CSOs are optimistic, resilient, and evolving
Over the last year, uncertainty has been all over the news, with global markets sending mixed and occasionally confusing signals. These signals speak to the challenges facing strategy and business leaders today—how to create advantage and capture value in a landscape characterized by disruptive technologies, geopolitical and economic uncertainty, changing consumer and stakeholder expectations, and complex policies and regulations around sustainability, tech, and data. In this environment, we conducted our fifth annual global survey of chief strategy officers (CSOs).
CSOs offer unique perspectives that can resonate across many organizations, which is why we survey them year after year. Often reporting directly to the CEO, CSOs advise on special projects, collaborate cross-functionally on high-impact decisions, lead corporate development, keep a pulse on markets, and are increasingly responsible for the execution of these strategies.
In this year’s survey, we set out not only to pulse strategy leaders on their outlooks, growth agendas, and focus areas but also to better understand how they are adapting their approaches to strategy in the face of these pressures. In a recent Monitor Deloitte report, “Strategy Now,” we explored how strategy is changing and outlined the new options, challenges, and opportunities for strategy leaders. That report suggests strategy should be resilient, agile, inclusive, and bold to better match the challenges businesses face today. We wanted to explore this assertion in this year’s survey data.
Here’s what we found: CSOs surveyed offered optimism, resilience, and a commitment to evolution.
Key takeaways
- Optimistic outlook: Despite economic and geopolitical instability, most CSOs are optimistic that their organizations will successfully navigate the year ahead, a sentiment that may be indicative of planning for new capabilities, such as artificial intelligence (AI).
- Drastic shifts in investment areas: CSOs are investing in emerging areas, including AI and ecosystems, for competitive advantage. A lag in activation may be representative of the early stages these areas are in, which presents an opportunity for CSOs to take an active role.
- Evolving ways of approaching strategy: CSOs report increased confidence in their core strategic initiatives, a shift that could be related to changes in shaping, executing, and collaborating on strategy, consistent with traits outlined in “Strategy Now.”
- Obstacles to overcome: CSOs report facing real challenges as they navigate these forces and the evolution of their function, including managing across time horizons, talent shortages, and competing strategic priorities.
In the face of uncertainty, CSOs need to lean into new capabilities, investments, and approaches to strategy to position their organizations for sustained and future growth. Discover how CSOs can help their organizations create advantage and capture value in a quickly changing world.
Inside Deloitte’s 2024 Chief Strategy Officer Survey
Explore the priorities, investments, and gaps CSOs are managing today, and learn what they tell us about the strategic imperatives they’re facing.
${header-title}
100%
The outlook and priorities of CSOs in 2024
CSOs face geopolitical and economic uncertainty but remain optimistic about their organizational performance.
4 out of 5
Current investment areas and the CSO engagement gap
Investment priorities are changing but do not always align with CSOs’ roles and engagement, which is unexpected given the importance of their leadership on topics related to competitive advantage and growth.
Update
Embracing new approaches to strategy
CSOs surveyed reported new ways of leading strategy, consistent with the perspective in “Strategy Now,” and signaling their shift toward a more resilient, agile, inclusive, and bold approach to strategy execution.
365 to 5
What comes next for CSOs
Time, talent, and conflicting priorities pose challenges for CSOs and organizations in achieving their strategic priorities. The “Strategy Now” principles may help manage these challenges, and specific questions are offered to help guide CSOs and strategy leaders.
Explore previous years' surveys
About Deloitte’s Chief Strategy and Transformation Officer Program
The role of the CSO and the role of strategy as a corporate function continues to evolve, as CSOs are getting an increasingly important role in the C-suite and are expected to set the short- and long term direction for the business. Whether you are a CSO seeking to build your strategy function, enhance your organization’s strategic planning capability, or pursue a specific growth mandate, we can leverage our long heritage in strategy and a range of proprietary tools to help you succeed.
Get in touch
Gagan Chawla
Principal | Corporate & Business Unit Strategy Leader
Nick Jameson
Principal | Deloitte Consulting LLP | Monitor Deloitte (Strategy)
Recommendations
2023 Chief Strategy Officer Survey
Our fourth Chief strategy officer survey sheds light on how the Strategy function and the CSO role are modernizing in an unpredictable market.
Strategy Now
Agile, Inclusive, Resilient, Bold
