Diamond Management & Technology Consultants, Inc. has published 12-page report on their site, based on its survey of 174 business leaders. It has revealed a couple of interesting findings:
- 57% of firms have market penetration as primary objective while only 16% firms have indicated innovation as primary objective.
- Only 6% of surveyed managers feel they are focused on changing only the processes they view as most important in accomplishing their objectives. Almost half the respondents (46%) confess that the economic crisis has caused them to spread themselves too thin.
The authors have concluded that year 2010 will be a year of increased competitive intensity. The firms will try to hold on to their current market share while stealing customers from the competition.
Near the end of the report, the authors have made following three recommendations:
- Review your growth portfolio to make sure you have the right capabilities and investments to support a market penetration or innovation strategy.
- Conduct a scenario-planning exercise that can help to foster organizational agility and better planning.
- Create a growth team comprised largely of line executives who can help close the thinking/doing gap and focus the organization on profitable growth.