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SHORT TAKES

SHORT TAKES The Rich Are partnership with their customers. pany strategy. When making cuts, Different Top-quartil e companies are well they preserved activities they ahead of their fourth-quartile peers believed would be important to in extending the longevity of their future growth and competitiveness— Companies that focus on "relation­ relationships with customers (66% 82% refrained from cutting back on ship-centric" activities are more like­ vs. 43%) and suppliers (68% vs. R&D, 76% did not curtail expansion ly to be top performers than those 57%). They also place a greater focus plans or close plants or offices. Look­ that focus on decreasing working on meeting customer expectations ing ahead, nearly 60% focus on two capital, supply chain efficiency, and (69% vs. 53%), while fourth-quartile probabilities: continuing stagnation spinning off non-core businesses, companies demonstrate more con­ in the global economy and the vul­ according to a joint study by Booz cern about future government regula­ nerability of global supply chains. Allen Hamilton and the Kellogg tion (57% vs. 47%). Pay's Off. Companies will be slash­ School at Northwestern University. ing employees' pay hikes this year, a More than two-thirds of top-per­ The survey also revealed that top survey by The Conference Board forming companies are focused on performers tended to be more rev­ found. More than 40% of the 77 meeting customer expectations and enue-driven, externally focused, and major companies surveyed are reduc­ extending long-term customer rela­ growth-oriented than bottom quartile ing planned pay increases in 2002. tionships, much higher than lower- companies. Executives in a wide range of indus­ performing companies. In contrast, tries will receive median pay hikes of nin e out of 10 lower-performing Just the Facts 4%, down from 4.5% in 2001 and a companie s are concerned with planned 4.2% earlier last year. Other reducing costs, and more than half Crisis Management. In response to salaried employees will see their pay­ are focused on divesting businesses. the September 11 attacks, nearly half check s grow by 4%, the same as Fully 79% of all survey respon­ the CEOs of multinational corpora­ promised and the same as last year. dents were shifting their focus from tions surveyed by Pricewaterhouse- Hourly workers will get 3.9% increas­ selling products and services to Coopers said they had created or es, down from an actual 4% last year developing value-added solutions in revised corporate disaster recovery and a planned 4%. plan s or im­ posed travel The Buyer's Market. ExecuNet's restrictions , Executive Talent Demand Index Labor Productivity Growth, 1990-2001 and 43% (ETDI) decreased 22% in the year United European All revised finan­ 2001. After climbing 1% in the first States Union Japan OECD cial forecasts quarter of 2001, demand for execu­ downward . tive talent dropped 20% in the sec­ Labor productivity Half the ond quarter, 27% in the third quarter, (average annual growth) CEO s report­ and 38% in the fourth quarter, when 1990-1995 1.1% 2.5% 1.8% 1.7% ed they had compared with each quarter of 2000. 1995-2001 2.0 1.8 1.8 1.3 laid off staff Women's Work. The number of and 46% out­ women-owned firms continues to 1995-2000 2.0 1.4 2.2 2.0 sourced non- grow at twice the rate of all U.S. 2000-2001 1.8 0.6 -0.3 0.9 core functions. firms, and employment and revenues Total hours worked Althoug h at those firms are growing at one and (average annual growth) those actions a half times the rate for all firms, 0.2% 1990-1995 1.2% -1.0% -0.4% were respons­ according to a report by Center for 1995-2001 1.6 1.2 -0.6 1.0 es to current Women's Business Research. The 1.2 economi c Center estimates there are now 6.2 1995-2000 2.0 1.2 -0.7 pressures , million privately held, women-owned 2000-2001 -0.7 1.1 -0.4 0.1 CEO s view firms, accounting for 28% of all pri­ Source: The Conference Board/Groningen Growth and Development them as long- vately held firms in the country. They Centre database, based on OECD National Accounts, Economic Out­ term adjust­ employ 9.2 million people and gener­ look, Employment Outlook, and Labour Force Statistics. ments to com­ ate $1.15 trillion in sales. ♦ Journal of Business Strategy │3 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Business Strategy Emerald Publishing

SHORT TAKES

Journal of Business Strategy , Volume 23 (2): 1 – Feb 1, 2002
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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0275-6668
DOI
10.1108/eb040226
Publisher site
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Abstract

The Rich Are partnership with their customers. pany strategy. When making cuts, Different Top-quartil e companies are well they preserved activities they ahead of their fourth-quartile peers believed would be important to in extending the longevity of their future growth and competitiveness— Companies that focus on "relation­ relationships with customers (66% 82% refrained from cutting back on ship-centric" activities are more like­ vs. 43%) and suppliers (68% vs. R&D, 76% did not curtail expansion ly to be top performers than those 57%). They also place a greater focus plans or close plants or offices. Look­ that focus on decreasing working on meeting customer expectations ing ahead, nearly 60% focus on two capital, supply chain efficiency, and (69% vs. 53%), while fourth-quartile probabilities: continuing stagnation spinning off non-core businesses, companies demonstrate more con­ in the global economy and the vul­ according to a joint study by Booz cern about future government regula­ nerability of global supply chains. Allen Hamilton and the Kellogg tion (57% vs. 47%). Pay's Off. Companies will be slash­ School at Northwestern University. ing employees' pay hikes this year, a More than two-thirds of top-per­ The survey also revealed that top survey by The Conference Board forming companies are focused on performers tended to be more rev­ found. More than 40% of the 77 meeting customer expectations and enue-driven, externally focused, and major companies surveyed are reduc­ extending long-term customer rela­ growth-oriented than bottom quartile ing planned pay increases in 2002. tionships, much higher than lower- companies. Executives in a wide range of indus­ performing companies. In contrast, tries will receive median pay hikes of nin e out of 10 lower-performing Just the Facts 4%, down from 4.5% in 2001 and a companie s are concerned with planned 4.2% earlier last year. Other reducing costs, and more than half Crisis Management. In response to salaried employees will see their pay­ are focused on divesting businesses. the September 11 attacks, nearly half check s grow by 4%, the same as Fully 79% of all survey respon­ the CEOs of multinational corpora­ promised and the same as last year. dents were shifting their focus from tions surveyed by Pricewaterhouse- Hourly workers will get 3.9% increas­ selling products and services to Coopers said they had created or es, down from an actual 4% last year developing value-added solutions in revised corporate disaster recovery and a planned 4%. plan s or im­ posed travel The Buyer's Market. ExecuNet's restrictions , Executive Talent Demand Index Labor Productivity Growth, 1990-2001 and 43% (ETDI) decreased 22% in the year United European All revised finan­ 2001. After climbing 1% in the first States Union Japan OECD cial forecasts quarter of 2001, demand for execu­ downward . tive talent dropped 20% in the sec­ Labor productivity Half the ond quarter, 27% in the third quarter, (average annual growth) CEO s report­ and 38% in the fourth quarter, when 1990-1995 1.1% 2.5% 1.8% 1.7% ed they had compared with each quarter of 2000. 1995-2001 2.0 1.8 1.8 1.3 laid off staff Women's Work. The number of and 46% out­ women-owned firms continues to 1995-2000 2.0 1.4 2.2 2.0 sourced non- grow at twice the rate of all U.S. 2000-2001 1.8 0.6 -0.3 0.9 core functions. firms, and employment and revenues Total hours worked Althoug h at those firms are growing at one and (average annual growth) those actions a half times the rate for all firms, 0.2% 1990-1995 1.2% -1.0% -0.4% were respons­ according to a report by Center for 1995-2001 1.6 1.2 -0.6 1.0 es to current Women's Business Research. The 1.2 economi c Center estimates there are now 6.2 1995-2000 2.0 1.2 -0.7 pressures , million privately held, women-owned 2000-2001 -0.7 1.1 -0.4 0.1 CEO s view firms, accounting for 28% of all pri­ Source: The Conference Board/Groningen Growth and Development them as long- vately held firms in the country. They Centre database, based on OECD National Accounts, Economic Out­ term adjust­ employ 9.2 million people and gener­ look, Employment Outlook, and Labour Force Statistics. ments to com­ ate $1.15 trillion in sales. ♦ Journal of Business Strategy │3

Journal

Journal of Business Strategy – Emerald Publishing

Published: Feb 1, 2002

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