Eight out of 10 industrial companies are well-equipped to take on the challenges of digital transformation and decarbonisation as they come out of the pandemic, according to 300 global business leaders in a new report from Shell and Goldsmiths, University of London.
Shell, together with Goldsmiths University, published a joint research exploring industry perspectives on the COVID-19 pandemic. ‘Under Pressure: Leading in Paradox Industries’ investigates how accelerated change has prepared businesses for the future – while highlighting the areas where their confidence does not match their investment plans.
“Organisations – and their leaders – have been forced to accelerate their decision making in critical areas,” said Mario Viarengo, global industry marketing general manager, Shell Lubricant Solutions. “We have seen 75% of businesses deliver up to five years’ worth of change around digital transformation over the last 18 months. And 76% have achieved the same with their decarbonisation efforts. As a result, they are largely better equipped to address their next big challenges.”
Dr Chris Brauer, director of innovation at Goldsmiths, University of London, said: “Leaders have been thrust into a high velocity environment during the pandemic and forced to make decisions at speed that will have a significant impact on their businesses for years to come. This report will help them to make greater sense of this impact and continue building on the positive changes they have made as they look to address the next big challenges around digital transformation and decarbonisation.”
“We have seen 75% of businesses deliver up to five years’ worth of change around digital transformation over the last 18 months. And 76% have achieved the same with their decarbonisation efforts. As a result, they are largely better equipped to address their next big challenges.”
Mario Viarengo, global industry marketing general manager, Shell Lubricant Solutions
Key findings from the report include:
• 87% of decision makers believe their response to the pandemic has enabled them to unlock potential within their business.
• During the pandemic, 48% of leaders saw increased investment into digital transformation, with 41% seeing the same rise in budget for decarbonisation activities.
• 85% of businesses face a digital skills gap. However, while 81% of leaders believe they are already well-equipped to tackle this, only half of them expect to increase their budgets in this area.
• 82% highlight a lack of expertise in navigating the complexity of available decarbonisation options as a barrier to progress, despite 78% saying they are well-equipped to understand the long-term impact of new sustainability targets.
“Leaders have been thrust into a high velocity environment during the pandemic and forced to make decisions at speed that will have a significant impact on their businesses for years to come."
Dr Chris Brauer, director of innovation at Goldsmiths, University of London
Mario Viarengo, global industry marketing general manager, Shell Lubricant Solutions, said: “Our report shows that businesses have demonstrated great resilience during the pandemic, but there is still work to do. Leaders have stepped on the gas to drive rapid transformation, and they cannot afford to ease off now. At Shell, we are going through the same changes, so we understand the challenges they face. No one company, industry or country can do it alone. We must all work together to meet the need for sustainable growth – and we hope this new research provides leaders with insights that enable them to keep their foot on the gas.”
For further details, follow this link: https://Shell.com/perspectives
