Fostering innovation is a main concern to chief executives of China in order to stimulate growth and development within headquartered companies.
A report recently released entitled 2016 China CEO Outlook-Now or Never, includes a variety of findings in which 1,268 CEOs were interviewed worldwide, 129 of them being from China.
Although the industries differ greatly, one aspect of the responses from the CEOs of China remained constant. Their priority is innovation so that it can drive growth over the three upcoming years.
Approximately 50 percent of the interviewees of China places “fostering innovation” as one of the three main strategic priorities for their corresponding companies, whereas only the mere 21 percent of CEOs overseas. It is evident that China is the leading country in which CEOs are confident about the growth and development of the company through innovation.
China co-chairman, Honson To, stated that China’s rapidly evolving market pushes CEOs to rethink about innovation and adaptation business strategies to secure that their products and services displayed are most attractive to the growing consumer pool.
The United States of America is no longer viewed as the area with the greatest growth potential. Nowadays, the chief executive’s view India, with 38 percent, and China, with 35 percent, as the most inviting areas for new growth over the next three years.
Approximately two-thirds of Chinese CEOs regard China as the market with the most potential for growth and development. It is then followed by ASEAN, with 37 percent, and then the United States of America, with 33 percent.
China’s CEOs are most concerned about the new technologies that are in the process of development as they worry that their company’s services and products might not be relevant three years down the line.