Technology CEOs have a high degree of confidence in their ability to grow —84% expect revenue growth to accelerate in the next year.
Primary driver of growth – New products and services
While stepping up their focus on acquisitions and joint ventures, technology CEOs continue to view new products and services (37%) as the primary driver of growth in their business.
Top investment priorities - Customer growth, R&D and innovation
Customer growth (61%) and investing in R&D and innovation (48%) remain top investment priorities. In pursuit of new customers, 84% of technology companies are enhancing their focus on social media.
Global expansion opportunities
Technology CEOs continue to view Latin America (83%), South East Asia (76%) and North America (70%) as the key regions for expanding their global operations. China tops the list of countries with the highest new revenue opportunities, though China’s attraction seems to be declining year over year.
In line with their peers across industries, 44% of Technology CEOs expect to increase headcount, and just 16% expect to decrease headcount in contrast to 23% across all industries.
Disruptions caused by technological changes (57%), new market entrants (48%) and shifting consumer spending and behaviour (47%) top the list of market threats to growth. Technology CEOs view prevailing economic uncertainty (87%) and the government response to fiscal deficits (62%) as the biggest risks to growth.
CEO interview quotes
"...we have developed new activities in recent years to satisfy customers’ need for closer relationships with manufacturers, which have donned the mantle of solutions providers. We have created an adjunct to Schneider Electric’s traditionally intermediate business model with the aim of cementing relationships with customers."
"We need resilience, adaptability and agility to keep on challenging the market, reducing costs where necessary, channelling the resulting savings to other areas, and keeping up with change. This implies an ongoing emphasis on the change process."
"One of the most important ways that we see to drive disruption is to focus on unique and differentiating consumer experiences. That’s a fancy way of saying, ‘how can we help you do something you couldn’t do before?’ ...when you look at the patterns of disruption, particularly in the area of technology, it’s often something relatively focused, relatively simple that allows you as a person to do something you couldn’t do before, or to do it faster or more efficiently. And it’s those types of innovations that we’re focused on today."
"What that local focus does is it connects us as an organisation more deeply into the local fabric, giving us a better understanding of what consumers might need in those environments and how to better support them."