The global industrial sector is changing its approach to growth, shifting away from growth through acquisition and towards a more organic growth model. This finding was released in a new paper by executive search firm Stanton Chase International. It is one of the key findings from a survey of more than 450 senior industrial sector executives carried out last summer.
With growth through acquisitions ranking as the lowest priority, industrial firms are placing greater emphasis on investments in new products, markets and technology. According to Mickey Matthews, vice-chairman of global practice groups and managing director of Stanton Chase Baltimore, industrial companies are moving more towards investments in their "core businesses and core competencies for success." He also noted that the sector seems to be entering a period of resurgence.
According to the survey, the top-four planned technology investments are customer relationship management, research and development, supply chain management, and manufacturing robotics and automation. The survey also provided other insights related to customer experience, quality, effectiveness and efficiency, and the global regions being targeted for growth.
Highlights of the survey findings are in reports available at www.stantonchase.com. The complete report on the survey findings and analysis is available in a white paper entitled "2013 Global Industrial Strategy Survey: Leadership Strategies for Accelerating Growth," which is available by request from a local Stanton Chase office.