Nearly 25% of Global CxOs Expect Operational Strategy to Deliver Breakthrough Performance, PRTM Survey Shows.Global Management Consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects Firm's Study Finds Senior Executives Plan to Use Operational Strategy to Improve Profitability, Revenue Growth WALTHAM, Mass. & MOUNTAIN VIEW, Calif. -- Nearly one-fourth of global executives expect operational strategy to deliver game-changing competitive performance, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent survey by PRTM PRTM Parks, Recreation, and Tourism Management PRTM Printing Response Time Monitor PRTM Pittiglio, Robin, Todd and McGrath (management consulting firm) management consultants. In addition, operational strategy is one of the top three strategic weapons senior executives will deploy to improve profitability and revenue growth. The survey of more than 300 C-level executives from North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia, and Australia showed how these executives view the definition, scope, and challenges of a successful operational strategy, or new ways to structure business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets and business economics for competitive advantage. It also provides insight into the competitive reasons senior executives should devote time and energy to it now. "Our survey underscores that operational strategy is critical to business performance," said Gordon Stewart, managing director, PRTM's Atlantic Region. "Increasingly demanding customers, globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation , ever-increasing market velocity, and pressure for new sources of innovation require strategic weapons in today's business Today's Business is a show on CNBC that aired in the early morning, 5 to 7AM ET timeslot, hosted by Liz Claman and Bob Sellers, and it was replaced by Wake Up Call on Feb 4, 2002. environment. Consequently, the C-suite is turning to operational strategy as a key way to turn global challenges into competitive differentiation." Michael Aghajanian, managing director, PRTM's Pacific Region, agreed. "Nearly 25% of the survey participants expect to use operational strategy for game-changing results in their industry. Because PRTM's survey covered all key industries in leading and emerging markets worldwide, this finding should concern those companies not aiming as high." Regardless of industry, geography, or competitive strategy, C-suite respondentsCoincluding CEOsCooverwhelmingly said that leadership of operational strategy comes from the top: 78% said that the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. is one of the top three drivers of operational strategy. Ninety-seven percent of respondents cited talent, culture, and leadership as critical to the successful execution of operational strategy. "A traditional view of operations" was cited by 62% of participants as a major barrier to effectively devising, innovating, and executing game-changing operational strategy. Survey participants most frequently cited the following as representing quintessential "operational CEO's" (in alphabetical order): Steve Ballmer, Jeff Bezos, Michael Dell, Larry Ellison, Bill Gates, Mark Hurd, Jeff Immelt, Steve Jobs, Alan Lafley, Lee Scott, Alan Sugar, Donald Trump, Jack Welch. In addition, the CXOs surveyed most frequently cited the following companies as representing quintessential "operational companies" (in alphabetical order): Apple, Dell, Ford, GE, Google, HP, Home Depot, Intel, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Microsoft, 3M, Toyota, Virgin, Wal-Mart. About PRTM Management Consultants Since 1976, PRTM has created a competitive advantage for its clients by changing the way companies operate. PRTM management consultants work with senior executives to develop and implement innovative operational strategies that deliver breakthrough results. The firm is a leader in operational strategy, supply chain, product development, and customer management. PRTM has 16 offices worldwide and serves major industry and government sectors. |
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