Redwood Shores, Calif.—A majority of North American companies are not keeping pace with global competition, according to a new study released by the CMO Council and the Business Performance Management Forum.
The study, titled "Crunch Time: The Competitiveness Audit," was conducted by management consulting firm A.T. Kearney and was released Thursday at the A.T. Kearney Global Tech+Telecom Competitiveness Summit. According to the study, two-thirds of respondents said they have no formal practices for tracking and analyzing their competition.
The study was based on a survey of more than 300 North American executives.
It found that approximately 90% of respondents said they expect competition in their sector to intensify in the next two years.
Also according to the study, U.S. executives point to China as a source of competition over the next two years nearly as often as they point to other U.S. companies.