An overwhelming number of CEOs around the world are now more focused on growing revenue than slashing costs and want to be more flexible to keep up with changing customer needs, according to an IBM Business Consulting Services global survey.
Results of the study, released at a New York news conference Monday, also found that six out of 10 CEOs said limited internal skills or leadership are inhibiting their company's ability to change with the market.
"CEOs are genuinely looking to embark on big change," said Eric Pelander, global and Americas leader of strategy and change services at IBM's Business Consulting Services unit.
The IBM survey questioned more than 450 CEOs of midsize to large companies around the globe--mostly in face-to-face interviews--on a variety of issues surrounding their business plans and models. Executives from the Armonk, N.Y.-based computer giant said the survey found 80 percent of CEOs saying their business priorities have shifted from cutting costs to growing revenue.
The survey results also found that two-thirds of CEOs questioned said they expect growth to come from new products they'll develop over the next five years, and that eight out of 10 CEOs said their ability to respond rapidly to changing business environments over the next five years is a high priority.
Also according to the survey, 13 percent of CEOs said their own organizations are "very responsive" to changing business conditions, and less than 10 percent said their companies were responsive to their top three threats. In addition, less than 10 percent of CEOs said they believed their company was successful in implementing "change management," according to the survey.
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