CEOs identify revenue growth as top objective over the next five years, finds Frost & Sullivan's Customer Research Group
SANTA CLARA, California, March 1, 2017 /PRNewswire/ -- The intense uncertainty, complexity and digital transformation of the economic landscape in the Americas is resulting in unprecedented, disruption-driven, innovation-focused growth. Traditional products-based approaches are rapidly giving way to business models like product-as-a-service, personalization and customization, and connectivity-as-a-key-enabler, creating opportunities for services-based businesses. Visionary CEOs that recognize the redundancy of conventional strategies are reshaping the business ecosystem to remain resilient in the face of churn.
"Nearly 43 percent of CEOs believe they would rely on partnerships to drive their organization's growth over the next three years," said Frost & Sullivan Content Transformation Global Head Sandeep Kar. "As technology strategies and strategic partnerships increasingly take center stage, customer strategies are expected to decline in importance."
CEOs' Perspectives on Growth, Innovation, and Leadership in the Americas, 2016 is part of Frost & Sullivan's Visionary Innovation Growth Partnership Subscription. Following extensive surveys, the analysis has identified the most important tools and strategies to help organizations prepare for industry transformation triggered by technology change. Mega Trends like connectivity and convergence are creating a new ecosystem, unlocking fresh growth opportunities for organizations that use innovative tools and strategies to deliver on stakeholder expectations.
Over 112 CEOs and business leaders across the Americas participated in Frost & Sullivan's Americas Annual Survey.
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Key insights reveal:
- Nearly 73 percent of survey respondents overwhelmingly voted revenue growth as the most important growth objective for CEOs over the next five years.
- 56 percent of them indicated that their organizations needed support in growth strategy and vision congruence. This highlights the need for companies to review, revise and rejuvenate their performance across all growth metrics.
- Currently, CEOs mostly target their products and services at the North American market, and have identified smaller pockets of interest in Asia-Pacific and Western Europe as well.
"Amidst transformation and collapse, 60 percent of CEOs can identify disruptive companies in their industries," noted Kar. "Amazon, GE and Google feature top-of-mind as the most disruptive innovators, and they offer constructive lessons on ways to drive growth in a fluid and increasingly complex business environment."
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CEOs' Perspectives on Growth, Innovation, and Leadership in the Americas, 2016
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SOURCE Frost & Sullivan