Growth, competition, technology advances and changing
stakeholder demands foster new business models, finds Frost &
Sullivan's Visionary Innovation Group
SINGAPORE, Feb. 20, 2017 /PRNewswire/ -- CEOs in
Asia overwhelmingly rank revenue
growth as their top growth objective for the next five years
following intense complexity, uncertainty and transformation of the
economic landscape. However, the majority indicate that they are
challenged by growth strategy implementation, growth strategy and
vision congruence, and annual growth rate acceleration.
The rising competitive pressures, changes in customer behavior
and demands, and digital transformation are the main disruptive
forces in the Asian market. As these forces collide, conventional
strategies and traditional business ecosystems will collapse,
creating a conducive environment for strategic innovation. Frost
& Sullivan's annual CEO survey offers insights into the ways in
which Asia's business leaders are
tackling market volatility and future-proofing their growth.
"The rising relevance of services-based business models is
upsetting traditional products-based approaches," said Frost &
Sullivan Visionary Innovation Research Analyst Michal Kurowski. "Personalization and
customization, and value-for-many, as opposed to value-for-money,
are perceived as having the highest potential for disruption."
CEOs' Perspectives on Growth, Innovation, and Leadership in
Asia, 2016 is part of Frost
& Sullivan's Visionary Innovation Growth Partnership
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Although digital transformation is cited as a dominant growth
and leadership catalyst over the next five years, more than one in
four respondents admitted that the breakneck speed of technology
change is an important challenge. Additionally:
- 47 percent of respondents identify big data analytics as the
leading factor that could potentially transform their
organizations
- More than 30 percent rate big data analytics as the most
compelling source of research information to design, develop and
deliver powerful growth strategies
- 55 percent of the respondents cite technology change as a
powerful driver of growth, innovation and leadership
"After revenue growth, ensuring customer satisfaction was the
most important goal for organizations. Yet, more than half of them
felt that their product/service innovation performance was not in
line with evolving customer demands," noted Kurowski. "Almost 49
percent of CEOs stated that they would rely on strategic
partnerships to drive their organization's growth in the next three
years. Mega Trends like connectivity and convergence are creating a
new business ecosystem, unlocking fresh growth opportunities for
organizations that use smart strategies to meet stakeholder
expectations."
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in
collaboration with clients to leverage visionary innovation that
addresses the global challenges and related growth opportunities
that will make or break today's market participants. For more than
50 years, we have been developing growth strategies for the global
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CEOs' Perspectives on Growth, Innovation, and Leadership in
Asia, 2016
K15B-CR
Contact:
Carrie Low
Corporate Communications – Asia-Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
http://www.frost.com