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In a VUCA Environment, Empower Your CMO to Collaborate and Lead
There is no question that we are doing business in a VUCA environment. VUCA is an acronym we don't often hear in the legal industry. It stands for volatile, uncertain, complex and ambiguous, and was coined by the U.S. Army to describe the post-Cold War world. When you think about what has been happening in the legal services industry for the last decade, you could say we have been operating in our own VUCA environment. Buyers of legal services are more sophisticated than ever and are redefining the meaning of value, some are involving procurement professionals in the buying process. At the same time, we see the rapid advancement of artificial intelligence and its applications to our industry. And competition is accelerating and coming from new entrants to the marketplace.
So how do law firm leaders tackle a VUCA environment? Engage and empower their CMOs collaborate and help lead change.
According to a 2018 study “Rethink the Role of the CMO” commissioned by Accenture and conducted by Forrester Consulting, 90% of organizations view the CMO as the connective tissue between different lines of business and as central to filling the gap in the C-Suite and technology ecosystem to drive growth.
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