CEO survey: partnerships and Big Data are keys to success

"Innovation must start within one's own organization, early and consistently. This is one of the most important conclusions from the current Frost & Sullivan survey.

The digitization of products, services and solutions is leading to disruption, collapse and radical change in some industries and business ecosystems. The rapid pace of technology change in particular is shattering traditional product-based business models and forcing a more agile and service-based approach. How do organizations and businesses respond to this ongoing uncertainty? Which concepts are justified and lead to long-term and sustainable growth?

International CEO Survey

More than 300 CEOs and business leaders in the Americas, Asia Pacific, and Europe and the Middle East participated in the latest Frost & Sullivan Annual Survey, titled "CEOs' Perspectives on Growth, Innovation and Leadership."

• Companies that refuse to embrace disruption or fail to adapt to innovation, new business models or the needs of their customers are increasingly marginalized. Companies face challenges from both external and internal factors, as the following findings show:
• Fifty-three percent of the CEOs surveyed cited an intensifying competitive environment as the greatest external threat to their company's growth. However, most organizations are unable to deploy skilled competitive analysis or business strategy teams to adequately address this challenge.
• Digitization is seen as the preeminent catalyst for growth, innovation and leadership over the next five years. But nearly 34 percent of CEOs say the pace of technology change presented is a real and immediate challenge.
• Together with strategic partnerships, technology strategies are seen as central to growth within the next three years. However, half of the CEOs surveyed indicate that they will not be able to successfully implement either technology and IP strategies or strategic partnerships.
• The transition from products to services, personalization and customization, and the concept of "Value for Many" (as opposed to "Value for Money") are identified as the three most significant disruptive business models. Again, 50 percent of CEOs said they were unable to integrate these new business models into their companies.

What is innovation?

"Digitalization, including smart data analytics, convergence, networking and connectivity, respectively, and digital customers are forcing business leaders and CEOs to develop innovative tools and strategies to meet the dynamic demands of stakeholders," explains Frost & Sullivan's Global Head for Content Transformation, Sandeep Kar.

"However, implementation must start within their own organization, and it must start early and consistently. That is one of the most important conclusions from this survey."

More details about the CEOs' Perspectives on Growth, Innovation and Leadership survey can be found at this Link
http://www.frost.com