Executive Leaders Are Unprepared for Emerging Tech

 
 
By Dennis McCafferty  |  Posted 11-25-2014 Email
 
 
 
 
 
 
 
 
 
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    Feeling Confident
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    Feeling Confident

    Two-thirds of CIOs and other C-level execs surveyed are very confident that their organizations will outperform the competition during the next 12 months.
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    Glowing Report
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    Glowing Report

    54% of the respondents are confident in their long-term business decisions.
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    Vulnerability Assessment
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    Vulnerability Assessment

    43% do not feel completely prepared to address emerging technologies, and 46% said the same about new business models.
  • Previous
    Likely Obstacles to Company Growth
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    Likely Obstacles to Company Growth

    Market slowdown: 33%, Cyber-risks: 32%, Shortage of skilled workers: 32%, Tax constraints: 31%, Regulatory constraints: 31%
  • Previous
    Vote of Confidence
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    Vote of Confidence

    61% of C-level execs surveyed are very confident that their direct reports will meet their business goals for the next 12 months.
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    Not Ready for Primetime
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    Not Ready for Primetime

    52% do not think their direct reports have the skills to assume greater leadership roles, and 44% said they lack the needed personal ambition and motivation.
  • Previous
    Mixed Message
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    Mixed Message

    While 56% said their company creates opportunities for employees to succeed, less than half said it is committed to developing leadership skills at all levels.
  • Previous
    Built for Speed
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    Built for Speed

    73% of the respondents think their organization has the ability to innovate faster than the competition.
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    Contrasting Perspectives
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    Contrasting Perspectives

    53% believe innovation is learned and repeatable, while the rest think it's spontaneous and random.
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    Top Ways to Foster Innovation
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    Top Ways to Foster Innovation

    Allow time for employees to innovate: 45%, Build a culture that embraces innovation: 43%, Adopt new technologies: 42%
 

A significant share of CIOs and other C-level executives surveyed said they may not be prepared for today's rapidly developing technology and business changes, according to a recent survey from Deloitte. The accompanying report, "Business Confidence Report 2014: The Gap Between Confidence and Action," reveals that these executives are generally confident that their organizations will outperform competitors. But they're well aware of the potential obstacles ahead, including cyber-risks and a lack of qualified workers. They're also not optimistic about whether their direct reports are capable of stepping up to larger leadership roles. So CIOs and their C-suite colleagues need to invest their time and budgets to address these and other areas. "In order to drive long-term business growth, leaders need to make courageous decisions and invest in areas such as innovation, R&D and talent," says Jim Moffatt, CEO and chairman of Deloitte Consulting. "They must also better detect and anticipate disruptions, quickly decide which ones matter and which ones don't, and effectively prioritize investments. To do that requires confidence—not just in words, but also in actions." An estimated 300 C-suite level executives took part in the research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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