Your Business Ambition: Are You a Thriver, a Striver, Despondent or Contented?
LONDON, July 23, 2013 /PRNewswire/ --
In a recent investigation carried out by TalkTalk Business and economia, findings revealed that over 60% of SMEs in the UK craved growth for their business, with 22% stating that improved access to technology would help this.
To view the Multimedia News Release, please click:
http://www.multivu.com/mnr/62390-TalkTalk-business-economia-SME-growth-study
The report, named Geared for Growth, looked into UK business ambitions and identified four clear groups of respondents: Strivers (52%), Contented (34%), Thrivers (10%) and Despondents (5%).
The report drew attention to how businesses analyse their growth factors, offering enterprises an understanding of how their attitudes could help or hinder company growth.
What did each group of respondents prioritise?
Strivers (52%)
Strivers were classed as having modest growth ambitions but weren't keen on taking unnecessary risks.
- They placed the most importance on operational improvement factors, such as having clear marketing and developing new products.
- Strivers also claim to be better at these things than other respondent groups.
Contented (34%)
Contented respondents were happy with their business and didn't have any expectations for growth.
- These respondents placed less importance on technology than Thrivers or Strivers.
- 23% rank 'opportunism' as a crucial success factor.
Thrivers (10%)
With rapid growth as their number one business objective, these respondents will take high risks to be successful.
- More likely to accept responsibility for results and business growth than the other groups.
- Most positive about what the year ahead holds for their business - 50% said things would get better
- 18% of Thrivers claim international expansion is very important compared to the 11% average.
- 1/5 Thrivers think technology is important for a firm to expand.
Despondents (5%)
Despondents were least likely to see their business thrive, expecting their business to shrink in the future.
- 53% claimed that the domestic economy was to blame for their decline.
- Despondents poorly rated the people management in their business.
Thrivers showed a greater appetite for technology, and Strivers placed more importance on technology than the Contented, showing how important technology is as a tipping point for success. Managing director of TalkTalk Business, Charles Bligh, said that "in a fast-moving digital economy, the companies most likely to succeed and grow are those with technically-skilled staff."
Where does your business fit in?
These key takeaways can be explored in more detail by downloading the whitepaper featured in this release.
Video: http://www.multivu.com/mnr/62390-TalkTalk-business-economia-SME-growth-study
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