Our survey finds CEOs to be increasingly drawn to start-ups as a source of insight and idea origination
It is often reported that 62% of the Fortune 500 didn't exist 20 years ago. Our annual study of CEO viewpoints illustrates leaders of large established companies are increasingly drawn to start-ups as a source of insight and potential partnership opportunities.
KPMG’s CEO Report reveals that UK CEOs are twice as likely to see recent market entrants rather than existing competitors as a more disruptive threat to their business model. It is no wonder then that 70% of CEOs consider opening dialogues with new entrants and start-ups to better understand new technologies, disruptions and opportunities in their marketplace.
From cyber risks, through to shifting consumer dynamics, today’s CEO must understand current issues and uncertainties that were not previously high on the boardroom agenda - and then they must interpret the impact on the fortunes of their own business and the wider macro-environment.
To stay ahead of the competition it is clear that CEOs need to be more farsighted than ever before.
Bite-sized considerations for your boardroom agenda
• Do you actively look outside of your organisation and your industry for ideas and inspiration on innovation?
• To what extent is your organisation taking steps to be a disruptor, rather than be the disrupted?
• Are you harnessing disruption and uncertainty as an opportunity to transform your business model?
• What techniques have new entrants deployed in focusing and understanding the needs of your customers – are there things to be learnt?
• Have you explored your USPs and how they may intersect within your wider organisation or with third parties - enabling you to create value or new solutions for customers?
• 77% of UK CEOs are planning to increase investment into recruitment, and 42% not planning to invest in new workforce training over the next 3 years, is your strategy to encourage innovation projects from within, or collaborate and attract the best talent from outside your organisation?
For more insights, download our full report (20 minute read)