KUALA LUMPUR, 4 SEPTEMBER 2008 - A recent survey by consulting firm Frost & Sullivan shows that many chief executive officers (CEOs) believe they lack the required teams and resources needed to power growth in a softening economy.
This is according to the company’s annual CEO Growth Survey, which analyses the top growth objectives of chief executive officers in today’s economy.
Frost & Sullivan chairman David Frigstad said: “Growth is every business leaders’ number one priority, yet many believe that they lack the requisite teams, processes, human capital and resources to support their growth objectives.”
No confidence in subordinates
“The recent Frost & Sullivan CEO Growth survey revealed that 93 per cent of CEOs consider growth their number-one priority for the next five years – and yet 80 per cent have no confidence in their direct reports’ abilities to support their growth objectives,” Frigstad said.
“Frost & Sullivan shares these concerns of leaders globally and aims to support this vision by addressing all aspects influencing an organisation's growth.”
The company’s partner and Asia Pacific managing director, Manoj Menon, noted that against the backdrop of a softening economy, many companies are looking for strategies that increase growth, new ways to market, and solutions that enhance customer satisfaction.
Recognising best practice
Menon said solutions as well as further results of the annual CEO survey would be released at the Asian Edition of the Frost & Sullivan Corporate Growth Congress 2008 (www.frost-gil.com), to be held 15-16 October in Kuala Lumpur.
“The Congress aims to deliver fresh, innovative, and practical solutions for companies to stay ahead of the curve and grow faster than the market growth rate,” he said, adding that it would also examine the dynamics of growth and the tools and processes companies can use to grow their business and generate value.
Menon also said that there will be interactive sessions discussing and examining global market opportunities and insights in various industry tracks such as aerospace & defence, transportation & logistics, energy & environment, healthcare & life sciences and information & communications technology.
“We will also be hosting the 2008 Frost & Sullivan Growth Excellence Awards banquet on Oct 15 to recognize best practices and outstanding performance by companies and individuals in Asia Pacific across various industries,” he said.
