Latest results from worldwide study show IT sector still relatively reticent towards globalisation
For immediate release:
IT executives are less likely to take advantage of the business strategy opportunities created by globalisation than that c-suite counterparts according to the recent findings of an in-depth study by leading business process and IT advisory firm, EquaTerra.
The findings have indicated a surprisingly reserved approach to globalisation from top IT executives from around the world, despite the sector continuing to benefit from substantial investment caused by its effects.
The ‘EquaTerra Globalisation Study’, conducted by the Economist Intelligence Unit on behalf of EquaTerra and World 50, a knowledge sharing community for C-level executives, assessed in detail the perceptions of global competition and the challenges of expanding ones’ global footprint, according to over 200 leading executives and senior managers from the Americas, Western Europe and the Asia Pacific.
The study revealed that while close to 90 per cent of study participants viewed globalisation as an inevitable but positive business challenge, IT - related respondents were 14% less likely to indicate that their organisations favoured globalisation, and 17 per cent less likely to see it having an overall positive effect on their company.
IT - related study participants were also more focused on cost reduction overall; more focused on globalisation as a means to reduce costs and more focused on investing further in IT to respond to the impact of globalisation. This is opposed to expanding into new markets, making business processes more efficient or locating and recruiting local, qualified talent.
The disruption of IT operations; a perceived ‘loss of control’ through the impact of global sourcing; a decline in the “traditional” IT career model and fears over future leadership were also cited as key concerns.
“Whilst some of the sector’s concerns about bearing the brunt of major change are valid, the industry has also been presented with a golden opportunity to lead the way, and the IT sector should really view itself as the front of the globalisation ‘arrow’ rather than shying away from the opportunities being presented” said Phil Morris, Managing Director of EquaTerra Europe. “Globalisation is a broad and multi-faceted area, often requiring expert input in order to understand and utilise it to best effect,” he continued.
For full results of the ‘EquaTerra Globalisation Study’ please visit: http://www.equaterra.com/kr/research/The-Benefits-and-Challe...
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Notes for Editors:
Study methodology and demographics
This study, conducted by the Economist Intelligence Unit on behalf of EquaTerra and World 50 in February 2008, polled 217 C-level and other senior executives from 19 industry groups worldwide about the benefits and challenges of globalisation. Forty six per cent of respondents came from North America, 39 per cent from Western Europe, 5 per cent from Asia-Pacific, and 10 per cent from the rest of the world. Sixty two per cent worked for organisations with annual revenue greater than U.S. $1 billion, and 19 per cent for organisations with annual revenue below U.S. $500 million. Thirty five per cent of respondents were Board members and Chief Executive Officers (CEOs); Chief Financial Officers (CFOs), Chief Technical Officers (CTOs) and other C-level executives made up an additional 28 per cent. The remaining respondents were divided among a range of senior and middle management titles. All major industries were represented, led by financial services, high-tech and consumer packaged goods.
EquaTerra sourcing advisors help clients achieve sustainable value in their IT and business processes. Our advisors average more than 20 years of industry experience and have supported over 2000 transformation and outsourcing projects across more than 60 countries. Supporting clients throughout the Americas, Europe, Middle East, Africa and Asia Pacific, we have deep functional knowledge in Finance and Accounting, HR, IT, Procurement and other critical business processes. EquaTerra helps clients achieve significant cost savings and process improvement with internal transformation, shared services and outsourcing solutions. www.equaterra.com
About World 50
World 50 provides senior-most executive peers from globally respected organisations a trusted resource forum for candidly sharing ideas, solutions and collaborative discovery in a forum free from competition or solicitation. World 50 operates Marketing 50 for chief marketing officers, Human Resource 50 for chief human resource officers, Global 50 for enterprise leaders, Supply Chain 50 for supply chain officers and Sustainability 50 for corporate social responsibility officers. Each private community provides its members intimate access to industry-leading peer practitioners, extraordinary business and world leaders, and facilitated knowledge sharing on topics members deem most critical to their businesses and their careers. www.world50.com
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