By Vinod Baya, Galen Gruman, and Bud Mathaisel at PWC.com…
After years of nearly 100 percent focus on cost-cutting due to the recession, company boards are now pushing their organizations to find ways to grow the business. In fact, most CEOs are looking to gain both efficiencies and differentiation at the same time. In a recent survey of CEOs conducted by PwC, 80 percent of CEOs believe innovation will drive efficiencies and lead to competitive advantage. (See Figure 1.) For most of them, technology is one way of capturing both. Close to 70 percent of CEOs are investing in IT to reduce costs and become more efficient, while 54 percent are also funneling funds toward growth initiatives. This sentiment is not limited to any particular industry sector, such as high-tech. It applies to enterprises of all sizes in all industry sectors.
via The strategic CIO’s new role in innovation: Technology forecast: PwC.