CEOs View Innovation as a Key to Business Growth

By Dennis McCafferty
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    55% of CEOs surveyed feel confident about growth prospects for the economy over the next three years, and 62% feel the same way about their company.

CEOs in the United States are increasingly viewing innovation as a prime key to future growth, according to a recent survey from KPMG. According to the accompanying report, "Setting the Course for Growth: CEO Perspectives," CEOs are generally confident in growth prospects for both their organization and the overall economy. And the vast majority of them are developing a formal companywide plan to increase innovation. Obviously, that benefits the IT organization because innovation almost always involves technology. These efforts are expected to lead enterprises through a make-or-break era of change, as it's time to transform "or wither away" into industry irrelevancy, according to KPMG. "Looking out on the next three years," the report states, "CEOs see opportunities in the steadily improving economy—but they remain focused on efficient growth and are wary of new challenges in a significantly different, post-recovery marketplace. Amid an unprecedented wave of transformative changes, setting the course for growth will require new strategies, new tools and new thinking." An estimated 400 U.S. CEOs took part in the research.

This article was originally published on 2014-09-03
Dennis McCafferty is a freelance writer for Baseline Magazine.
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