Almost half (49%) of UK business leaders are updating their strategies every three months or faster due to the rapid rise of AI, global instability and sustainability pressures, according to research by the Association for Project Management (APM), the chartered membership organisation for the project profession.
The survey of 500 senior business leaders in the UK revealed a significant shift away from traditional long-term planning and a growing reliance on rapid short-term strategy updates, driven by the urgent need to adapt quickly to emerging trends and increasingly complex challenges.
One in seven (15%) update their business strategy more often than quarterly while a further 34% said every quarter, the research found. Another 28% said bi-annually and 16% said annually.
Medium-sized companies with 500-1,000 employees had the highest frequency with 63% revisiting their business strategies at least every three months. By sector, healthcare and pharmaceuticals led with 68% followed by financial services and technology (both 56%).
AI and automation, along with global instability, were top ranked for underlying predicted impacts on businesses over the next three years (both 42%). Another 38% identified sustainability and environmental regulations as critical factors likely to affect strategic focus.
Professor Adam Boddison OBE, Chief Executive of APM, said: "With nearly half of UK businesses now updating their strategies at least every quarter amid a staggering pace of change, it's evident that leaders are actively embracing strategic agility to stay competitive and remain prepared for both disruptions and new opportunities.
"Our research underscores the pivotal role project management professionals play in helping leaders navigate these complexities, whether it's leveraging new technologies, addressing sustainability demands or managing cultural shifts. Project managers are not just facilitators they are strategic enablers, turning ambitious visions into tangible results and reality."
The findings, carried out by national research company Censuswide, also showed that 34% of respondents cited cultural resistance and uncertainty as the biggest barriers to delivering transformational investments.
Graham Harle, CEO of Gleeds, a leading property and construction consultancy, said: "We regularly update our business strategy, staying mindful of external factors such as global events like Covid, Brexit and the Ukraine crisis. With a new government, we're focused on staying ahead of potential policy changes to remain proactive and adaptable."
He said AI has become a significant part of the wider business landscape and expects its role to grow "exponentially" to bolster their offering and help drive organisational growth.
"We are digitally augmenting our service offer to enhance service delivery and add value, aligning with the evolving needs of our clients," he added.
He expects corporate culture and identify to grow in significance by 2030, saying: "Corporate culture is at the heart of what we do and drives how we operate. Sustainability is essential for our clients and we work closely with them to support their ESG (environmental, social and governance) requirements."
APM has launched a white paper entitled The difficult questions you must ask of your strategy, which examines how project management can help businesses stay resilient amid a volatile landscape.
The white paper's contributors Dr Paul Chapman, former Vice President of APM (2020-24) and Director of the UK Government's Major Project Leadership Academy, and Alistair Godbold, Vice President of APM and Director at The Nichols Group, both urge UK business leaders to critically evaluate if their strategies are deliverable and underscore the importance of integrating transformation initiatives with ongoing operations to drive sustainable success.
Alistair Godbold said: "Whether it's AI, sustainability or navigating cultural shifts, senior UK business leaders need to be constantly re-evaluating their strategies. But strategy alone isn't enough. Effective project sponsorship and integration with ongoing operations are critical to success. Project management professionals are increasingly playing a pivotal role in ensuring that transformations don't derail existing day-to-day business functions."
Register now for APM's webinar Leading successful transformation taking place on 7 February 2025.
About APM
- APM (Association for Project Management) is a professional membership organisation that sets the standards for the project profession and raises its profile.
- As a registered charity, APM delivers learning and networking opportunities, qualifications, research, resources, events and best practice guidance for the project community, helping the profession deliver better.
- APM is the only chartered organisation representing the project profession in the world with over 45,000 individual members and more than 470 corporate partners based across 140 countries.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241211770440/en/
Contacts:
Contact Hayley.mountstevens@apm.org.uk for further information
