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.