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IT Management Slideshow:
When Convergence Attacks

By Dennis McCafferty on 2011-03-02


Convergence can take many forms. It can be a result of a merger or acquisitions, or a byproduct of cross-industry collaboration. In any case, convergence requires executives to take a nimble approach to business models and structural transformations in order to succeed. A survey from consulting firm Egon Zehnder International reveals that many corporate leaders in IT and business are in danger of becoming overwhelmed by the complexities of convergence. And, the trend is gaining ground as a dominant catalyst for change in industries such as IT, energy, automotive and healthcare, according to the report. Executives who are vigorous and persistent, and offer a strong base of generalist knowledge, are emerging as most in-demand during periods of convergence. And the talent wars over IT managers and other professionals who offer such skills look to continue unabated for the indefinite future. A total of 515 executives took part in the global survey. Here are selected highlights:

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70 percent of respondents say there is a present danger in their leadership being overwhelmed by the complexities of convergence.

Only 14 percent of these execs rate their leadership as “excellent” with respect to managing convergence.

63 percent of respondents believe their organizations lack sufficient personnel resources to implement changes required by convergence.

78 percent of respondents say teamwork at the management level has grown significantly more important in light of the challenges of convergence.

74 percent of respondents say business models in their particular industry are opening up due to convergence.

56 percent of respondents say their companies have either developed a new business model, or are planning to do so, due to convergence.

Top factors driving convergence (percent respondents):Changes in customer behavior/expectations (58.9 percent)Tech innovation (53.6 percent)Economic factors (46.2 percent)Growth expectations (41.5 percent)

54 percent of respondents say their companies have either developed, or plan to develop, products or services in partnership with other companies, demonstrating the need for collaboration due to convergence.

Most valuable resources for managing convergence (percent respondents):Colleagues (89.7 percent)Professional networks (76.5 percent)Technology platforms (29.9 percent)Trade/specialist media (17.7 percent)Friends/family (16.7 percent)

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