Telecom CEOs retain an optimistic view of their companies’ growth prospects, driven by favorable economic conditions and attractive new technologies. Innovation and market turbulence are nothing new for Telecom companies, and CEOs remain confident about their ability to respond to, and even drive, industry disruption.
As global momntum remains strong, Telecom CEOs are expressing strong confidence in their ability to generate and maintain top-line growth. Innovation, mergers and acquisitions (M&A), and strategic alliances are among the leading strategies these CEOs are embracing to position their companies for market expansion. Strategic alliances are a key to growth, particulary for partnerships in emerging technologies such as artificial intelligence (AI) or the Internet of Things (IoT) - key areas that provide attractive opportunities, but also require specialized talent to deploy successfully.
Overall, Telecom CEOs expressed confidence in their organizations' abilities to outgrow the broader sector, as well as the domestic and global economy. Time will tell if this strong confidence is borne out as the sector consolidates and new competition emerges from non-Telecom companies.
Not surprisingly, M&A remains a popular strategy for generating growth as firms recognize a need to change their business models more rapidly than organic growth can deliver alone, and to take advantage of favorable valuations. Telecom leaders recognize M&A can provide a fast track to acquiring new technologies or eliminating direct competitors, among other reasons and expected benefits. CEOs believe the deal-friendly climate of recent years will continue.