America’s top business leaders are confident in their ability to outperform the competition. However, they are not acting with confidence when it comes to making business decisions or addressing specific obstacles, according to Deloitte’s inaugural Business Confidence Report. For more on the #CXOConfidence report, visit http://www2.deloitte.com/us/en/pages/operations/articles/cxo-confidence-survey.html

1. 72%
of CXOs who say
it’s a barrier aren’t
prioritizing investments in both technologies and incidence response
Deloitte Business Confidence Report 2014
The Gap Between Confidence and Action
The Research
C-suite Executives
(CXOs)
300
CXOs-in-waiting
(CXOWs)
300
Weighed in on their confidence in their organizations’ ability to grow, their leadership pipeline, and their ability to innovate
66% 63%
34% 37%
More than half of executives are very confident their organizations can outperform competition
But the survey revealed gaps between confidence
and action in:
•
Investments in barriers
to growth
•
Leadership development
•
Defining and driving
innovation
America’s top executives are not acting with confidence
67%
of CXOs who say it’s
a barrier aren’t prioritizing investments in both
employees and
business strategy
More than half are very confident they can address barriers to growth:
America’s business leaders lack confidence in future leaders
Less than half say their direct reports have the skills to assume greater leadership roles
48%
CXOs
41%
CXOWs
What’s holding them back?
44%
CXOs
50%
CXOWs
Say direct reports lack ambition and motivation
Say they have little or no access to leadership training
America’s top executives are confident in their ability
to innovate but are divided on how to drive innovation
CXOs and CXOWs are split
on the nature of innovation
50%
CXOWs
53%
CXOs
say it’s learned
and repeatable
say it’s spontaneous and random
49%
CXOWs
47%
CXOs
CXOs are divided on
how to best foster
and drive innovation
Allowing time for employees to innovate
— 45%
Building a culture that embraces innovation — 43%
Adopting new technologies
— 42%
Encouraging teamwork and
collaboration — 42%
Incorporating contributions to innovation in performance reviews — 36%
Implementing innovation processes and practices — 33%
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CXOs
CXOWs
CXOs
CXOWs
Very
confident
Have
some
doubts
But CXOs are not prioritizing investments in some barriers to growth they named, like:
35%
of CXOs who say it’s a barrier aren’t prioritizing investments in employees
48%
of CXOs who say
it’s a barrier aren’t
prioritizing investments in tax department
capabilities
Only 54% of CXOs say they display confidence in long-term business decisions...and even fewer CXOWs (43%) say their organization’s executives do that
Demonstrating willingness to take risks on innovation — 35%
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57% 43%
CXOs
56% 44%
CXOWs
Competition from Emerging Markets
Shortage of Skilled Workers
Cyber Risk
Tax Constraints