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Industry Update

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Accenture's annual survey of more than 900 C-level executives across the globe found that their main issue as their businesses become more global is to maintain a common corporate culture no matter where their offices are located. Surprisingly, 22% said they felt their organizations were poorly equipped to succeed globally, even though they are more global than ever before. Nearly half of the respondents from China said they faced difficulties in adapting to the world market.

"To succeed in today's global environment, companies must create a strong and diverse leadership team with knowledge spanning disparate markets," said Mark Foster, Accenture's group chief executive—Business Consulting & Integrated Markets. "The critical challenge for managements is to ensure that companies maintain their core values and corporate identity across many countries, especially as industry becomes more knowledge-based and increasingly work is handled by virtual teams. They also must build organizations that abandon the traditional geography-based operating models, which often fail to recognize dramatic differences in market needs and the resulting management challenges."

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