C-level tech execs express optimism about the business outlook. Their confidence is generating interest in increasing R&D spending, staffing and acquisitions.
80% of C-level tech industry execs said the global economy is improving, up from 52% a year ago.
52% said their tech company is primarily focused on cost reductions/operational efficiencies, while 32% said it is focused on growth.
35% said their companies will increase R&D/product introductions to drive organic growth over the next 12 months, and 24% said their organizations will exploit tech to develop new markets/products to do so.
56% said their companies will expand staffing within the next year, up from 46% who predicted this a year ago.
34% said the global marketplace will greatly impact core business for the next 12 months, while 22% cite digital trends.
32% said that increased global and regional political instability represents the single, greatest economic risk to their businesses over the next six to 12 months, while 24% cited increased volatility in commodities/currencies.
59% expect their companies to actively pursue acquisitions within the next 12 months, and 48% predict that their organizations will seek acquisitions outside of their own sector.
46% pointed to changes in customer behavior as the top driver in pursuing an acquisition outside their companies’ sector.
55% said their company currently has three or more deals in the pipeline.
27% said poor execution of strategy was the leading cause of recent acquisitions not meeting expectations, while 21% cited poor operating cost assumptions.