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The answer, our findings suggest, is adaptability. Like successful creatures in nature, WMACs are quicker than others to find new opportunities. And they are more prepared to innovate, too. Finally, WMACs work hard to make themselves more effective, notably by harnessing their employees' insights and looking after their interests.
So WMACs are not only better at finding opportunity, they are also agile enough to exploit it. This is what keeps them adaptable – and consistently ahead of their peers.
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Actively looking for growthOur research shows WMACs seek growth more actively than peers. Emerging markets are 'very important' or a 'top priority' for 79 per cent of them, while only 59 per cent of their peers are in step with this. Supporting and managing high-growth business units is a high priority for 82 per cent of WMACs, compared to 68 per cent of their peers.
Even when conditions are tough, WMACs prioritize growth. It might seem counterintuitive when protecting core business is the pragmatic option. But it's helping WMACs stay ahead.
Innovation 'baked in'
Innovation is part of the way WMACs operate. Naturally, they give it high priority: 88 per cent see innovation and product development as very important (compared to 79 per cent of peers). What's interesting, though, is how they innovate:
 | 87 per cent capture and disseminate innovative ideas and best practices. | |
| 83 per cent innovate in areas of current strength – working to fix things that aren't broken. | |
| 83 per cent proactively address potential problems before they occur. | |
| 81 per cent leverage new technologies and creative approaches to improve effectiveness. |
WMACs involve everyone in the innovation process. If employees are encouraged to proactively spot problems, fire off ideas and strive to improve things that already work just fine, the company is in a state of constant innovation. This makes WMACs highly adaptable to fluctuating conditions.
Everyone is part of the solution
There's no point driving new business and innovating if you can't then execute. WMACs stand out with the degree to which they involve their employees in improving efficiency and effectiveness. Ninety-one per cent of them regularly reach out to employees for ideas on how to increase efficiency. Only 76 per cent of their peers do likewise. One of the biggest gaps between WMACs and peers in our survey was on the issue of encouraging managers and employees to take reasonable risks to improve effectiveness. Ninety-four per cent of WMACs were prepared to do this, compared with only 77 per cent of peers.
Just as they do with innovation, WMACs leverage their employees by helping everyone to be part of the solution. As a result, they strike a balance between growth and running efficient operations.
Looking after themselves
Survival of the fittest may be a cliché but it holds true for organizations. WMACs keep in shape by looking after their people. Nearly 50 per cent see employee work/life balance as an important issue, compared to only 30 per cent of peers. And 44 per cent think it's a priority to address work conditions that inhibit success, while 34 per cent of peer firms share this view. WMACs put more emphasis on integrating new staff into the organization and they are more sensitive to the needs of different generations of employees.
They keep their employees sharp, too: 89 per cent of WMACs make sure skills keep pace with job demands, whereas only 76 per cent do the same. And they manage performance more actively. Eighty-nine per cent of WMACs both actively provide coaching, compared with 78 per cent of peer firms.
By actively looking after their employees, WMACs create organizations that are more fit and agile.
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