Beyond the brand_2016_speech

GYRO RESEARCH: UNDERSTANDING BUSINESS DECISION MAKERS AND WHY THEY BUY INTO STRONG CULTURES

A survey of top business decision makers

produced in conjunction with

ABOUT THE RESEARCH

Requires research into human relevance Business decision makers - Only Human - 2014The role of culture, mission and purpose - Beyond the Brand - 2015

our mission is to create ideas that are humanly relevant

“IT’S IMPORTANT TO MOVE AWAY FROM THE VIEW OF LOGIC AND REASON AS THE CENTER OF GRAVITY OF ONE’S ACTIVITY. THINGS ARE FAR MORE COMPLEX.” - Antonio Damasio, Neuroscientist

HUMAN FACTORS ARE THE DECIDING FACTORS“We know that there’s a really strong relationship between companies that provide high quality products and services and those that have a strong reputation for an engaged work force.” -Peter Fasolo, VP @ Johnson & Johnson

Nearly two-thirds (65%) of executives believe subjective factors that can’t be quantified (including company culture and corporate values) increasingly make a difference when evaluating competing proposals. Only 16% disagree.

THERE’S A REASON GUT INSTINCT OFTEN PROVIDES A CLEARER PATH: DATA IS COMPLEX AND CONFUSING

Lack of analytical capacity to extract actionable information from data

Rapidly increasing variety of

information types

Excessive data volume

37%

34%

31%

ANXIETY

EMOTION AND SOFT FACTORS ARE EVOLUTIONARY ADAPTATIONS FOR MORE EFFICIENT DECISION MAKING

NEUROSCIENTISTS ESTIMATE THAT % OF OUR RESPONSES ARE BIOLOGICALLY DRIVEN. HISTORICALLY, SURVIVAL DEPENDED ON THE

ABILITY TO MAKE QUICK, SMART DECISIONS.

IN FACT, THOSE WITH BRAIN DAMAGE AFFECTING AREAS THAT PROCESS EMOTION HAVE DIFFICULTY MAKING BASIC DECISIONS.

99

EXECUTIVES RECOGNIZE THE BENEFITS OF “TRUSTING THEIR GUT”A majority (62%) of executives say it is often necessary to rely on gut feelings and soft factors.

“GUT REACTION IS ESSENTIAL TO ANY DECISION MAKING

PROCESS.” -Scott Beth, VP Finance & Operations @ Intuit

SO, WHICH SOFT FACTORS MATTER?

Sixty-eight percent of respondents agree with the statement that it is worth making short-term financial sacrifices to cultivate long-term relationships.

STRONG RELATIONSHIPS ARE IMPORTANT AND WORTH SACRIFICE

STRONG REPUTATIONS AND CULTURES WIN

When choosing companies to do business with, 70% of respondents cite company reputation as the most influential factor. Company culture is also a top driver according to 53% of executives surveyed.

“You must focus on the ‘why’ of the business, the pure idea. The overwhelming desire to connect to this essence has been, and always will be, incredibly powerful. You need to share it, celebrate it, and elevate it, beginning with the most important element of all: the people inside

the business.” - Christoph Becker, CEO & CCO @ gyro

KNOWING WHAT A COMPANY STANDS FOR IS AN IMPORTANT FACTOR FOR EXECUTIVES WHEN CHOOSING A CORPORATE PARTNER

More important than market dominance...

Is knowing what a company stands for

More important than a reputation for innovation...

20%21%

60%

NOTHING IS MORE POWERFUL THAN THE CULTURE OF A BUSINESS

EIGHTY PERCENT OF RESPONDENTS AGREE THAT A SUCCESSFUL COMPANY’S BIGGEST IDEA IS OFTEN THE ONE UPON WHICH IT WAS BUILT. LOSING YOUR CULTURE AND ORIGINAL SENSE OF PURPOSE MAY MEAN LOSING YOUR CUSTOMERS.

IF LONG TERM PARTNERSHIPS ARE THE GOAL

It’s worth making short term financial sacrifices in order to lay the foundations of a long term partnership, according to 71% of respondents.

“If we’re not making a connection, or there are any issues with company values, that might cause us to keep looking around for other people who are making a similar type of product. We could be in a relationship with a company for 20, 30 or 40 years. So we have to ask ourselves if we really want to hang out with them for all that time.”

-David Lannon, EVP Operations @ Whole Foods

% OF EXECUTIVES BELIEVE THAT COMPANIES THAT ARE SUCCESSFUL AT BUILDING LONG-TERM RELATIONSHIPS MAKE A DIRECT CORRELATION BETWEEN WHAT THEY BELIEVE IN AND THE WAY THEY CONDUCT THEIR BUSINESS.

98

MISSION AND PURPOSE ARE KEY TO BUILDING LONG-TERM RELATIONSHIPS

NEARLY ALL RESPONDENTS ( %) FEEL THAT MISSION STATEMENTS ARE BENEFICIAL, EVEN WHEN THEY SET GOALS THAT ARE HARD TO ACHIEVE, AND THEY HOPE MORE COMPANIES WILL BE PURPOSE-

DRIVEN IN THE FUTURE.

98

A CLEARLY DEFINED MISSION STATEMENT IS ESSENTIAL

60% SUPPORT COMPANIES THAT ARE TRYING TO DO WHAT’S RIGHT, EVEN WHEN IT DOESN’T MAXIMIZE REVENUE.

ONLY HUMAN - WHO DID WE POLL?

720 EXECUTIVES

88%director level or above

BEYOND TEH BRAND - WHO DID WE POLL?

500 EXECUTIVES

40% based in the United States

40% based in Europe

20% based in Asia