executive leaders reveals purpose-driven organizations are achieving
transformation through building multi-functional teams, making effective use of
technology, fostering a growth mindset and focusing on training
PLANO, Texas – Feb. 13, 2018 – New research from Capital
One reveals what industry executives believe to be the critical factors for
successful business transformation in 2019. These key aspects include being
purpose-driven, fostering a growth mindset among employees, using the right
technology and implementing more effective organizational structures and ways
This is the second in a series of studies surveying more
than 400 U.S. business decision-makers, including business owners, C-suite
members and company presidents, on the role of purpose, leadership, technology
and training in an organization's ability to transform.
Down on Purpose
majority of leaders (93%) believe that their company will be more
purpose-driven in 2019 compared to 2018, and 90% are confident purpose-driven companies outperform their peers over the
long term . Purpose-driven companies define their aspirational reason for
existing as something that inspires and provides a call to action for the
organization, as well as delivers a benefit to society.
Executives who rate
their transformation in the past six months as "excellent" (73%) are
particularly adamant that having a clear purpose is essential to their future
"To survive and thrive, leaders must fundamentally
reimagine their businesses," said Sanjiv Yajnik, President, Financial Services
at Capital One. "The most successful leaders know that a clear purpose is the
catalyst for driving transformation. Purpose - made real through impactful
coaching, a collaborative culture, empowered employees and integrated
technology - enables your entire organization to rise up and create incredible
things together for the end customer."
Fostering a Growth Mindset is
Nearly all surveyed
business leaders (96%) believe that possessing
a growth mindset is important in achieving business transformation in 2019. A
growth mindset is the belief that employees can develop abilities through
continual learning, hard work and perseverance to see failures and challenges
as opportunities to improve skills.
Executives who gave
their companies excellent ratings for their ability to evolve within the past
six months (85%) are more likely to strongly agree with this view, compared to the
56% who gave their companies lower ratings.
of business leaders overwhelmingly agree more business-related training leads to a
growth mindset for all employees.
Executives cited the
three most effective training programs in developing a growth mindset in
employees are digital training to improve
technology knowledge (64%), customer experience training (62%) and coaching on
how to effectively problem solve and experiment with new solutions, product or
ways of working (60%).
Tools and resources to
aid self-learning, such as books, videos and computer-based training, are the methods most often used to deliver
training to employees (82%), followed by conferences (60%) and stretch
assignments (51%). Stretch assignments involve an employee taking on a larger
role within a current role to determine a promotion.
94% of business
leaders believe that their employees are successfully using new technology to
transform their company.
The most cited use of
technology to drive
transformation by employees includes data analytics/software (65%) and cloud technology
(65%), while the least utilized are virtual reality (17%) and blockchain/crypto
Businesses Are Organizing for
finding new ways of working (95%) as important in achieving
transformation in 2019.
Successfully transformed businesses most often
build multi-functional teams that have strong technical and business
capabilities (61%) and implement new technology and digital tools to improve
the customer experience (55%).
Businesses still have work to do, however.
Despite the perceived value of collaboration and test-and-learn strategies,
less than half (49%) strongly agree their company has a culture that rewards
test and learn experimentation and encourages employees to work in different
For more information, visit http://press.capitalone.com/.
In January 2019, Capital One commissioned Zogby Analytics to conduct an
online survey of 408 business decision-makers. Based on a confidence interval
of 95 percent, the margin of error is +/- 4.9 percentage points.
About Capital One
Capital One Financial Corporation (www.capitalone.com)
is a financial holding company whose subsidiaries, which include Capital One,
N.A., and Capital One Bank (USA), N.A., had $249.8 billion in deposits and
$372.5 billion in total assets as of December 31, 2018. Headquartered in
McLean, Virginia, Capital One offers a broad spectrum of financial products and
services to consumers, small businesses and commercial clients through a
variety of channels. Capital One, N.A. has branches located primarily in New
York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of
Columbia. A Fortune 500 company, Capital One trades on the New York Stock
Exchange under the symbol "COF" and is included in the S&P 100 index.