Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 279

C-Suite Study Reveals Gaps in UK plc’s Ability to Remain Competitive

Posted by fidest press agency su mercoledì, 23 maggio 2012

London, (PRNewswire) Business leaders in the UK have admitted that companies are failing to keep up with the increasing rate of change they face, placing businesses at risk from factors such as reduced turnover and hostile takeover. With an economic climate that remains threateningly unclear, the findings of the ‘Fit to Change’ report, carried out on behalf of Fujitsu, call into question UK plc’s ability to adapt and succeed in the uncertain environment they operate within today. The study, which included interviews with 150 c-suite executives[1] and input from the Fit to Change[2] panel, reveals that two thirds of executives believe that the current rate of change, driven by factors such as customer demand and new competitive threats, is too quick for UK organisations to keep pace with and 57% agree that an inability to respond rapidly and effectively to change is one of the most significant risks their organisation faces today. Commenting on the findings, Professor John Kotter, Harvard Business School said, “Only 32% of those in private sector firms are at all optimistic that they are actually ‘fit to change’. In a world that is changing more and more rapidly, these are highly distressing numbers.”
Today, 33% believe they can plan one year ahead, and a quarter feel it is only possible to plan ahead six months with any degree of certainty The most likely consequences of failing to adapt to change are financial. Overwhelmingly, 96% of executives believe decreased turnover would be a consequence of not reacting appropriately to change. Similarly, respondents felt that the ability to get finance would be severely impacted by a failure to appear responsive to the market. 62% believe that a drop in share price would be a likely outcome and 59% fear hostile takeover.
To tackle change successfully, respondents were clear that strong leadership is the key ingredient – 97% felt this. Additionally, the capacity to change and available resources topped the list of ingredients required to be fit to change. However, when comparing the ingredients that business leaders believe are essential to being fit to change with those they believe are most lacking across UK plc, the gaps occurred in three areas – a robust ecosystem of suppliers; a long term vision and the right technology solutions.

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