Accenture Stock Climbs 3.08% as New Report Highlights Transformational Success Factors
1min read On November 6, Accenture (ACN) saw its stock rise by 3.08%, continuing a two-day positive trend with a cumulative gain of 3.56%. The company's revenue for the fiscal year ending August 31, 2024, was $64.896 billion, representing a year-on-year increase of 1.22%. Meanwhile, net income attributable to the parent stood at $7.265 billion, up 5.72% from the previous period.
Accenture recently released a report titled "Reinventing Change—The New Blueprint: Achieving Sustainable and Effective Transformations." The findings highlight that all surveyed Chinese companies plan to allocate over 5% of their revenue toward transformation initiatives in the next three years. This extensive study involved interviews and data collection from over 1,000 executives and 5,000 employees across 14 industries in 17 countries.
The report noted that 68% of the surveyed Chinese businesses have embarked on two or more organizational transformations in the past three years, focusing primarily on strategy, mergers and acquisitions, sales and marketing, human resources, finance, and supply chain management. Influenced by shifts in work methodologies and advances in generative AI technologies, Chinese firms are expected to concentrate their transformation efforts on strategy, R&D innovation, operations, and IT in the upcoming three years.
Accenture emphasizes the importance of six core capabilities for driving successful change. These capabilities are divided into "foundation" and "innovation" dimensions. The foundation comprises tried-and-tested methods, while the innovation dimension includes new approaches driven by technology, data, and artificial intelligence. Together, they form Accenture's "Change Architect" system, consolidating diverse transformation practices and utilizing data to establish a clear link between transformation capabilities and corporate performance. This system aids enterprises in assessing and propelling continuous transformation, thereby yielding more predictable and positive business outcomes.
The study revealed that globally, 16% of participating businesses are extensively deploying all six transformation capabilities. Companies with a higher maturity level in "Change Architect" practices are 2.1 times more likely to achieve successful transformations compared to their peers.