Future-ready companies are those that demonstrate cultural readiness, latest results show.
The IMD 2024 Future Readiness Indicator report ranks 93 of the world’s largest fashion, pharmaceutical, and technology companies in terms of their future readiness.
“The results reveal surprising shifts in what drives success. Market size is no longer enough, what is needed across all three sectors is cultural relevance.” Howard Yu, Director of the IMD Center for Future Readiness
This is amidst a backdrop of geopolitical uncertainty, in which the threats of tariffs are looming large for companies across the board, with fashion being the most affected.
“The ability to adapt quickly to changes as they happen, especially when it comes to being able to reorchestrate and reconfigure supply chains as required in the face of changing policies and a Chinese economic slowdown will become increasingly important in 2025,” says Yu.
Finally, integrating AI effectively into all aspects of business operations and putting sustainability at the forefront of business decision-making are no longer on the periphery but a business imperative.
- Hermès, LVMH, and Zara top this year’s indicator, by being deeply culturally relevant. Meanwhile, Nike slumped from first to fourth place, attributed to a loss of focus on its performance-focused brand identity and strained retail relationships, demonstrating how losing focus can be more dangerous than competition.
- In pharmaceuticals, Roche, Novo Nordisk, Eli Lilly, AstraZeneca, and Novartis top the list of companies that have harnessed AI adoption and delivered breakthrough therapies, notably GLP-1 medications, which have propelled Novo Nordisk and Eli Lilly into leadership positions. On the other hand, Pfizer saw a substantial drop from first to ninth position, highlighting the risk of over-promising on new technologies.
- Nvidia’s long-term investment in AI has paid off exceptionally well; it scored a perfect 100 in this year’s technology indicator. Meta Platforms’ aggressive investments in AI are also showing strong momentum, positively impacting almost all aspects of its operations.
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Fashion
Pharmaceutical
Technology
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