Other key growth drivers cited by respondents were launching new products/services (76%); expansion of market share within existing markets (70%); expansion into new geographic markets (41%); entering new vertical markets (36%); and making an acquisition (35%).
Acquisition as a growth strategy was much more common among larger companies, according to the survey. Eighty-one percent of executives from companies with more than $250 million in annual revenue expected to make an acquisition in the next 12 to 24 months.
The survey was conducted online in the fourth quarter of last year. More than 500 executives responded, 85% of whom were C-level executives.