In a briefing yesterday in New York, IBM Global Business Services leaders Peter Korsten, Marc Chapman and Anthony Marshall discussed the findings of their recent (and fifth annual) study of global CEOs opinions on business issues ranging from their top concerns to their strategies for growth and innovation.
The study focused on what results were typical of top performers, defined by the companies themselves and verified by IBM's own research of revenue and profits. Interestingly, what CEOs had to say about the market conditions they face did not vary significantly from out-performers to under-performers. But the big differences came in what they planned to do about it. Here are some of the highlights of what defined a top performer:
- Top performing organizations are 54 percent more likely than others to make rapid decisions. CEOs indicated they are learning to respond swiftly with new ideas to address the deep changes affecting their organizations.
- 95 percent of top performing organizations identified getting closer to customers as their most important strategic initiative over the next five years - using Web, interactive, and social media channels to rethink how they engage with customers and citizens. They view the historic explosion of information and global information flows as opportunities, rather than threats.
- Organizations that have built superior operating dexterity expect to capture 20 percent more of their future revenue from new sources than their more traditional peers.
Interestingly, the two top strategies identified for top performers for getting "closer to customers" were first, face-to-face interactions and close behind, at 57%, using social media.