Tapping new markets and adopting new technologies is key to growth, say business leaders
‘Shaping Europe’s Future’, is a recent study conducted by the European Business Awards. The detailed study is based on interviews with 80 business leaders of European companies with revenues in excess of $1 billion. These are mostly successful companies with over 60 percent reporting better performance than their competitors .
According to the study, growth is back on the agenda for businesses across Europe. It is also revealed that nearly two thirds (68 percent) of business leaders believe new ideas and innovation will be vital to driving business growth. Coming in a close second, 44 percent of these leaders believe that more than any other growth strategy, entering into and sourcing from new markets would serve as a leading driver of growth over the next two years.
However, in order for businesses to continue investing in new innovative technologies, the study found that more work is required to prove return on investment (ROI) on new ideas.
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