A BCG Poll Highlights Striking Gaps Between Executives' Assessments of 15 Critical Business Challenges and Their Companies' Preparedness to Tackle Them
BOSTON, MA--(Marketwired - Dec 12, 2013) - Business leaders around the world feel least prepared to execute on strategies for driving growth -- among them, large-scale transformation, open innovation, digital channels, and talent management -- according to a global survey released today by The Boston Consulting Group (BCG).
More than 1,000 senior executives across varying regions and sectors assessed how important 15 business challenges are for their companies and how prepared they feel their companies are to address those challenges. BCG conducted the survey as part of the firm's fiftieth anniversary Game Changing program, a year-long effort to highlight the most pressing issues facing business leaders.
"This survey gave us an opportunity to hear directly from business leaders about how they view the requirements for success in a fast-changing, global economy," says Patrick Ducasse, a senior partner at BCG. "Growth, fitness, adaptability, connectivity, stewardship -- these are the things that separate the winners from the losers. It is clear from our survey that a significant proportion of top executives are not prepared for the biggest challenges."
Among the major findings:
Top Five Business Challenges by Level of Unpreparedness (Percent "Very Unprepared or "Unprepared") | ||||||||||
Global | U.S. and Canada | Europe | BRIC | Asia-Pacific | ||||||
Large-Scale Transformation | 20 | 18 | 17 | 23 | 21 | |||||
Open Innovation | 19 | 20 | 15 | 19 | 24 | |||||
Leverage Customer Data | 18 | 19 | 15 | 20 | 16 | |||||
Digital Channels | 17 | 12 | 16 | 27 | 15 | |||||
Distinctive Business Models | 14 | 11 | 14 | 16 | 18 | |||||
"BCG has always been at the forefront of deciphering the complex economic forces and trends shaping our world," says Ducasse. "If companies are to take advantage of the growth opportunities around the world, then they need to develop the requirements for success."
Methodology
This survey of more than 1,000 senior executives was conducted in 2013. European countries included France, Germany, Italy, Spain, and the UK. Asia-Pacific countries included Australia, Japan, Indonesia and South Korea. Leaders from Brazil, China, India, Mexico, and Russia were also surveyed.
Participants were asked to rate the level of importance and their companies' level of preparedness with regard to the following 15 challenges:
For information about the survey or BCG's Game Changing program, please contact Eric Gregoire at +1 617 850 3783 or gregoire.eric@bcg.com.
About the BCG Game Changing Program
For 50 years, The Boston Consulting Group has been helping leaders anticipate and respond to a changing world. Today, radical shifts in the global economy and a relentless rise in uncertainty have altered the competitive landscape. To help leaders capitalize on the emerging opportunities, we have condensed the results of our experience with companies and governments around the world into a series of publications devoted to five important requirements for success: the growth imperative, the fitness factor, the adaptive mindset, the two sides of connectivity, and the perpetuity principle. For organizations to own the future, they must change their game.
About The Boston Consulting Group
The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 78 offices in 43 countries. For more information, please visit bcg.com.
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Contact Information:
The Boston Consulting Group
Eric Gregoire
Global Media Relations Manager
Tel +1 617 850 3783
Fax +1 617 850 3701
gregoire.eric@bcg.com