At Ephor Group we forecast economic growth for 2011 to be modest overall; however there are certainly niche sectors that will see double and triple digit growth such as healthcare services, safety and security, and more (contact us for 2011 intelligence for your industry).
Accordingly, leading companies and executives are shifting their priorities towards growth initiatives and away from survival mode strategies like cost reduction.
Our quarterly research survey findings reveals that executives’ top objective is the alignment of strategy, people, and operations to current demand.
- A majority of executives (2 out of 3) say that their biggest frustration today is either to "revenue challenges” or “labor productivity.”
- In addition, nearly half of the executives (4 out of 10) do not think they have the necessary people or capabilities to be able to effectively execute their growth strategies.
The ability to match resources and personnel to current demands is imperative to achieving economic efficiency. Several of the following tactics enable matching resources to demand:
- Use of contractors, outsourcing providers, and/or shared service centers
- Real-time alerts, analytics, and intelligence regarding client and buyer demand
- Portfolio of offerings, partners, alliances
As leaders and executives in our sector, we must come to the realization that we as a community must create the capability to match resources/personnel to real-time demand.
What worked pre-2008 and what works post-2010 are very different things, to say the least.
It’s more important than ever to validate your strategy and align your capabilities and people in real-time to changing market demands, buyer trends, and competition.
Our research reveals the three most common avenues for growth:
- Portfolio Optimization. If you are not already doing this, you are behind everyone else.
- Expansion into new solutions or markets. Check out our expansion validation approach: Market Research Intelligence.
- Acquisition. Of course any potential acquisition(s), needs to meet the following criteria in addition to cultural fit. First, the ability to upgrade to the “platform and portfolio”, quality controls that match the firm’s standards and a financially attractive opportunity for clients and employees. Read more about effective acquisition strategies here: GrowthStep.
Contact us for complimentary 2011 intelligence for your industry sector.
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