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.

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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.

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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

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