CEOs Call for Strategic Innovation through Partnering

In a recent IBM Business Consulting Services (BCS) global CEO study of 765 CEOs and thought leaders from 21 industries around the world – globalization, fierce competition and the rapid pace of technological change have CEOs scrambling to reinvent their businesses – and fast.

The survey results are startling, underscoring just how anxious top executives are about the need to innovate, reinvent their business models and, notably, collaborate with third-party partners on everything from technology needs to strategic planning.

Consider this statistic: Two-thirds of CEOs said competitive pressures and market forces will compel them to radically change their companies over the next two years. More interesting, only 20 percent of those CEOs said they felt they have a proven track record to undertake this kind of transformation. That leaves plenty of room for solution providers to lend their own consultative services when it comes to the technology elements that drive change and innovation.

One of the survey's most significant findings speaks to the importance of partners with respect to innovation. More than three-quarters ranked business partnerships and collaboration with both partners and customers as a top source of new ideas. Yet only half felt they were collaborating beyond a moderate level, again revealing an unfulfilled opportunity. External collaboration was considered indispensable by 60 percent of the CEOs, while 20 percent said that internal R&D accounted for a large portion of their companies' innovative ideas.

Among the other IBM CEO study findings:
This news couldn’t be more timely for HR suppliers as will be launching a new Community Forum feature very soon that will offer its members the ability to network about potential partnership opportunities (in a private, secure and closed environment) with other HRmarketer members – some of most senior, influential and intelligent marketing and management minds in the human capital industry.