Appointing and Retaining Leaders Ranks as Top Priority for Senior Executives in the Middle East, Visionary Embassy Study Finds
Dubai, United Arab Emirates, February 09, 2007 --(PR.com)-- ‘Appointing and retaining leaders’ ranked highest on executive agendas for 2006, according to a regional (Middle East) study released by Visionary Embassy. The study, which Visionary Embassy conducted, comprised interviews with dozens of senior executives at leading organizations to identify and prioritize the issues of greatest concern to senior management, understand how their priorities shift over time and identify key forces behind the issues. The interview encompassed a dimensional focus on HR Capital, Personnel Management and thorough Sales Performance.
Workforce improvement-issues dominated the top priorities, comprising 4 of the 10 most-selected concerns, including the top 2. For instance, the greatest number of respondents, 42 percent, selected ‘Appointing and retaining leaders,’ followed by 37 percent who selected "changing organizational culture and employee attitudes." Other workforce issues in the top 10 are ‘enhancing workforce performance’ (selected by 28 percent to rank 7th) and ‘developing employees into capable leaders’ (selected by 23 percent to rank 10th).
"The most powerful theme emerging this year is a strong and consistent focus on people," said Farid Gasim, Chief Economic Ambassador of Visionary Embassy. "Even though the business conversations have centered on global competition and the need for execution, business leaders are increasingly aware that nothing happens unless people-talent is engaged in the right way."
Customer-retention issues also occupy top spots on executive agendas. Of the factors both ‘acquiring new customers’ (34 percent) and ‘increasing customer loyalty and retention’ (29 percent) were popular responses across all boards surveyed.
Innovation also rose on the executive agenda, ranking relatively higher on executives' list. ‘Investing in R&D to stay ahead of competition’ is the fourth-highest-ranked executive concern, selected by 29 percent of respondents. Another top 10 issue is ‘being flexible to market changes or volatility,’ selected by 26 percent.
"Innovation, like expansion, seems to be an issue that rises in importance when the economy improves. That may be organic, but it is also short-sighted," said Farid. "Innovation should never be de-prioritized, possibly even more so in tough times. Staying ahead of competing trends is most notably achievable through innovation."
The only IT issue in the top 10 is ‘integrating IT to minimize costs and create value,’ selected by 27 percent of respondents to rank 8th on the list.
"Although ranked relatively lower, the use of IT continues to be a major focus, as businesses are becoming more demanding in driving value from IT in the form of improving employees' productivity, engagement and capabilities. IT is playing a vital role in ever expanding corporate operations, in an era of robust development ‘technology’ is an aspect organizations must adopt," said Farid.
About the study
As part of the study to identify senior executives' top concerns, Visionary Embassy conducted a survey of 420 senior executives at many of the Middle East’s largest organizations across all major industries. Respondents included executives at the highest levels of senior management ("C-suite" executives) as well as heads of key functional areas, such as human resources and marketing.
About Visionary Embassy
The Visionary Embassy is a dynamic strategy and general management consulting firm. The firm strives to guide leading corporations to create and sustain competitive advantage. Visionary Embassy pioneers in its industry with proactive consulting and corporate training solutions. The firm empowers businesses to expand into diverse markets and fortify their envisioned brands globally. With strong industry and business process expertise, extensive global resources and an esteemed brand presence, Visionary Embassy can assemble the key people, skills and focal aspects to help clients elevate their performance.
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Workforce improvement-issues dominated the top priorities, comprising 4 of the 10 most-selected concerns, including the top 2. For instance, the greatest number of respondents, 42 percent, selected ‘Appointing and retaining leaders,’ followed by 37 percent who selected "changing organizational culture and employee attitudes." Other workforce issues in the top 10 are ‘enhancing workforce performance’ (selected by 28 percent to rank 7th) and ‘developing employees into capable leaders’ (selected by 23 percent to rank 10th).
"The most powerful theme emerging this year is a strong and consistent focus on people," said Farid Gasim, Chief Economic Ambassador of Visionary Embassy. "Even though the business conversations have centered on global competition and the need for execution, business leaders are increasingly aware that nothing happens unless people-talent is engaged in the right way."
Customer-retention issues also occupy top spots on executive agendas. Of the factors both ‘acquiring new customers’ (34 percent) and ‘increasing customer loyalty and retention’ (29 percent) were popular responses across all boards surveyed.
Innovation also rose on the executive agenda, ranking relatively higher on executives' list. ‘Investing in R&D to stay ahead of competition’ is the fourth-highest-ranked executive concern, selected by 29 percent of respondents. Another top 10 issue is ‘being flexible to market changes or volatility,’ selected by 26 percent.
"Innovation, like expansion, seems to be an issue that rises in importance when the economy improves. That may be organic, but it is also short-sighted," said Farid. "Innovation should never be de-prioritized, possibly even more so in tough times. Staying ahead of competing trends is most notably achievable through innovation."
The only IT issue in the top 10 is ‘integrating IT to minimize costs and create value,’ selected by 27 percent of respondents to rank 8th on the list.
"Although ranked relatively lower, the use of IT continues to be a major focus, as businesses are becoming more demanding in driving value from IT in the form of improving employees' productivity, engagement and capabilities. IT is playing a vital role in ever expanding corporate operations, in an era of robust development ‘technology’ is an aspect organizations must adopt," said Farid.
About the study
As part of the study to identify senior executives' top concerns, Visionary Embassy conducted a survey of 420 senior executives at many of the Middle East’s largest organizations across all major industries. Respondents included executives at the highest levels of senior management ("C-suite" executives) as well as heads of key functional areas, such as human resources and marketing.
About Visionary Embassy
The Visionary Embassy is a dynamic strategy and general management consulting firm. The firm strives to guide leading corporations to create and sustain competitive advantage. Visionary Embassy pioneers in its industry with proactive consulting and corporate training solutions. The firm empowers businesses to expand into diverse markets and fortify their envisioned brands globally. With strong industry and business process expertise, extensive global resources and an esteemed brand presence, Visionary Embassy can assemble the key people, skills and focal aspects to help clients elevate their performance.
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Contact
Visionary Embassy
Adam Gafarli
9714 345 3033
www.vembassy.com
Adam Gafarli
9714 345 3033
www.vembassy.com
Contact
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