Tuesday, July 03, 2007

Global Executive's view on Technology and Innovation

Recently, McKinsey Quarterly published interesting survey Global Executive's view on Technology & Innovation and its role for future growth in their business. Study was done across many industries.

Most important action for growth over next five year (order by highest%):
  • Innovation with current product,
  • New products,
  • M&A,
  • Efficient distribution,
  • New markets.
Most important capablity for growth(order by highest%):
  • ability to innovate,
  • ability to manage/allocate talent,
  • ability to manage global organization,
  • locating capital,
  • managing increasing regulation cost,
Action required for operational efficiency(order by highest%):
  • Business Process Automation,
  • Economy of scale,
  • Reducing overhead costs,
  • Moving to low-cost suppliers/service providers,
  • better managing sales & marketing cost.
Clearly, Innovation is highest priority and Talent management is biggest challenge across industries. and That's seem to reflect in this survey.

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