A new report from IBM finds that midsize companies face significant challenges with change, and they report a sizable gap between their need for change and their past success in managing it. Titled “The Enterprise of the Future,” the study also shows that midsize companies are optimistic about growth opportunities, especially in developing economies, and are rapidly adapting their business models to become more competitive.
More than eight out of 10 – 86 percent – of midsize businesses anticipate substantial change, yet just over half – 57 percent – have had success in managing that change. Despite the challenges posed by this gap, CEOs of midsize organizations are making investments to evolve their business for today’s environment. The most frequently cited areas of new investment include growth through globalization, customer service aimed at more demanding and informed customers and increased corporate social responsibility activities.
"In today's rapidly changing global marketplace, CEOs of midsize companies recognize that the most effective path to sustained business success is through innovation, skills and active partnering," said Marc Dupaquier, General Manager, Global Midmarket, IBM General Business.
"It's clear that these firms are aggressively changing their business designs to expand into new markets and forge stronger relationships with a new class of informed and collaborative customer."
The report reflects findings from the IBM Global CEO Study, the largest study of chief executives ever conducted.