New Survey Finds Local Tech CEOs Confident About Recovery and Growth of Technology Sector in Chicago; Deloitte Releases Results of the Chicagoland Fast 50 CEO Survey.Business Editors CHICAGO--(BUSINESS WIRE)--Nov. 5, 2003 Results of the Deloitte Chicagoland Fast 50 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. Survey were released today with three out of four respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. indicating that the technology sector in Chicago has begun its recovery, citing the software and the wireless industries as those having the greatest potential for future growth. The vast majority of respondents stated that it will take time and confidence that the economy is growing before they start buying sizable siz·a·ble also size·a·ble adj. Of considerable size; fairly large. siz  a·ble·ness n. amounts of technology products and services.
The survey queries CEOs of Deloitte's ranked list of Chicagoland Technology Fast 50 Winners, the fastest-growing technology companies based on revenue growth, headquartered in the metropolitan Chicago area. In addition to gaining CEO's perspectives on the future of the technology industry in Chicago, the survey gathers strategies that these CEOs are using to further develop their local technology businesses. Among other findings, the survey reported: -- 71 percent of respondents are very to extremely confident that their company will sustain a high level of growth over the next 12 months -- Three out of four companies plan to "stay the course" and grow internally over the next year -- The vast majority of respondents expect their headcount to increase - 58 percent by fewer than 25 employees and 25 percent by 25-49 employees The Fast 50 winners also reported on "biggest" challenges moving forward: -- Well over 75 percent of respondents reported managing cash flow -- 38 percent reported developing a strong marketing & sales strategy -- 33 percent reported finding, hiring and retaining qualified employees "Results of this survey clearly indicate that tech CEOs in the Chicagoland area are confident about the recovery and growth of the sector locally, which is illustrated by their plans to increase headcount and focus on internal growth," said Jerry Sullivan, partner-in-charge of Deloitte's Technology, Media & Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. Practice in Chicago. "Despite this optimism, however, CEOs acknowledge that managing cash flow remains an issue, and will most likely have a significant impact on growth and success in both the short and long-term." The results of the survey were announced at an awards event honoring the Chicagoland Technology Fast 50 winners held late last week at the Ghost Bar in Chicago. The Fast 50 program is hosted by Deloitte and is sponsored by The American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , the law firm of Gardner, Carton & Douglas and LaSalle Bank LaSalle Bank Corporation is the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. With $116 billion in assets, it is headquartered at 135 South LaSalle Street in Chicago, Illinois. , and in association with the Illinois Coalition, the Technology Executives Club and Tech Image Limited. Winners are selected based on the percentage of growth in revenues from 1998 to 2002. To be considered, Fast 50 entrants must have met the following criteria: Have operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. of at least $50,000 in 1998 and at least $1,000,000 in 2002. Be public or private companies, headquartered in the metropolitan Chicago area. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded. A "technology company" is defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology. A special category called "Rising Stars" recognizes the two fastest growing technology companies based on revenue growth over three years (2000-2002). For a complete list of the Deloitte Chicagoland Technology Fast 50 winners for 2003 and past years, please visit www.fast50.com. About Deloitte Deloitte, one of the nation's leading professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. firms, provides audit, tax, financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal and consulting through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. programs, Deloitte has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for six consecutive years. "Deloitte" refers to Deloitte & Touche LLP LLP - Lower Layer Protocol and affiliated entities. Deloitte is the US member firm of Deloitte Touche Tohmatsu Deloitte & Touche (also referred to as Deloitte Touche Tohmatsu, and branded as Deloitte.) is the second largest professional services firm in the world, and one of the Big Four auditors, along with PricewaterhouseCoopers, Ernst & Young and KPMG. . Deloitte Touche Tohmatsu is a Swiss Verein A Swiss Verein ("Verein" is German for "Union") is a legal structure in Swiss law. It is similar to the Anglo-American voluntary association. Unlike Germany, a Swiss Verein does not need to be registered in order to have a separate legal personality. Most Swiss NGOs resp. (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the name "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names. The services described herein are provided by the US member firm and not by the Deloitte Touche Tohmatsu Verein. For more information, please visit Deloitte's web site at www.deloitte.com/us. |
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