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Execs Responding Too Slowly to Market Changes


A recently released report entitled "Competition at the Crossroads: Strategic Planning and Action in Disruptive Markets," which was prepared by the Business Performance Management Forum and Deloitte Consulting LLP's Technology, Media, and Telecommunications group, claims that technology executives need to improve their response to market changes.
"When it comes to developing winning strategies and taking effective actions to address disruptive market changes - whether it is introduction of a breakthrough technology, developing new business models, or entry of a nontraditional competitor - they are not meeting the challenge and may not have the tools, talent, and processes they require," said John Ciacchella, a principal with Deloitte Consulting.

The report concludes that executives' responses to market changes are slowed by insufficient investment in strategic planning, not getting the right information, and not having the required talent who can look beyond today's products and profits.

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