Growth, competition, technology advances and changing stakeholder demands foster new business models, finds Frost & Sullivan’s Visionary Innovation Group

Singapore – February 21, 2017 – CEOs in Asia overwhelmingly rank revenue growth as their top growth objective for the next five years following intense complexity, uncertainty and transformation of the economic landscape. However, the majority indicate that they are challenged by growth strategy implementation, growth strategy and vision congruence, and annual growth rate acceleration.

The rising competitive pressures, changes in customer behavior and demands, and digital transformation are the main disruptive forces in the Asian market. As these forces collide, conventional strategies and traditional business ecosystems will collapse, creating a conducive environment for strategic innovation. Frost & Sullivan’s annual CEO survey offers insights into the ways in which Asia’s business leaders are tackling market volatility and future-proofing their growth.

“The rising relevance of services-based business models is upsetting traditional products-based approaches,” said Frost & Sullivan Visionary Innovation Research Analyst Michal Kurowski. “Personalization and customization, and value-for-many, as opposed to value-for-money, are perceived as having the highest potential for disruption.”

CEOs’ Perspectives on Growth, Innovation, and Leadership in Asia, 2016 is part of Frost & Sullivan’s Visionary Innovation Growth Partnership Subscription. Following extensive surveys, Frost & Sullivan has identified the most important tools and strategies to help organizations prepare for industry transformation triggered by technology change.

Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan’s thought leaders.

Although digital transformation is cited as a dominant growth and leadership catalyst over the next five years, more than one in four respondents admitted that the breakneck speed of technology change is an important challenge. Additionally:
47 percent of respondents identify big data analytics as the leading factor that could potentially transform their organizations
More than 30 percent rate big data analytics as the most compelling source of research information to design, develop and deliver powerful growth strategies
55 percent of the respondents cite technology change as a powerful driver of growth, innovation and leadership

“After revenue growth, ensuring customer satisfaction was the most important goal for organizations. Yet, more than half of them felt that their product/service innovation performance was not in line with evolving customer demands,” noted Kurowski. “Almost 49 percent of CEOs stated that they would rely on strategic partnerships to drive their organization’s growth in the next three years. Mega Trends like connectivity and convergence are creating a new business ecosystem, unlocking fresh growth opportunities for organizations that use smart strategies to meet stakeholder expectations.”

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

CEOs’ Perspectives on Growth, Innovation, and Leadership in Asia, 2016
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Contact:
Carrie Low
Corporate Communications – Asia-Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.

Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.

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