As the world’s economies move into a recovery phase, few business leaders around the world expect their companies to get back to the way things were before the global financial crisis.
In a global survey of 1,677 executives, representing all regions, industries, company sizes, and functional specialties, findings showed that most organizations were planning for a “new normal” with “lower long term growth expectations.”
The majority of the executives report than innovation is more important than ever. Among their top priorities are responding rapidly to changing economic conditions, developing new products and services to respond to changing customer needs, and restructuring the company to reduce costs and position them for growth.
Not discussed in this report, however, is the underlying need for innovation at the leadership level. If leaders themselves are unwilling to change the way they operate – the way they make decisions and manage people – the changes listed above will never happen.
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