Executive search firm Stanton Chase International has released highlights from a survey of senior global industrial sector executives that suggests that the global industrial sector is undergoing a resurgence despite ongoing financial and economic uncertainty and intense global competition. It also reveals several new strategic directions for global industrial firms as well as some significant challenges.
The survey shows an industrial sector with a confident and positive outlook. Responses also suggested three strategic trends that are driving growth: a shift away from growth by acquisition and towards organic growth driven by investments in core business and related core competencies; investments in technology driven by goals in core competency development, customer experience, and quality and efficiency; and the beginnings of a trend to reshoring in the manufacturing sector.
The survey also reveals details of a significant leadership shortage, which will have a detrimental effect on growth and profitability of the sector if it is not addressed.
Taking place in North America and Europe in June and July of 2013, the survey engaged more than 450 senior industrial sector executives from around the world.
Highlights of the survey findings are available at www.stantonchase.com. The complete report is available in a white paper, “2013 Global Industrial Strategy Survey: Leadership Strategies for Accelerating Growth,” which is available on request.