Press Release |
The 9th Annual Forbes and Gartner Study Reveals C-Level Optimism, and Confirms Web as Most Important Source for Business Information
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NEW YORK--(Business Wire)-- Executives are optimistic and preparing for growth, according to the Ninth Annual Forbes/Gartner C-Level Executive Study with C-Level and senior management executives. The study also confirmed that the Internet is by far the most important source for business information, followed by daily newspapers, trade publications, magazines, TV and radio, respectively. More than 650 executives participated in the study, "Preparing for Growth in the Current Economy," conducted between April 21, 2009 and May 6, 2009. The complete study is available at http://www.forbes.com/adinfo/research.html. The first of four white papers about the study, "Preparing For Recovery," is available at: www.forbes.com/forbesinsights. Some key findings: MEDIA CONSUMPTION * The Internet was again by far the most important business information source, picked by six out of ten (60%) executives, four times the number that chose the next most valuable, daily newspapers 15%). They were followed by industry trade publications (9%), magazines (6%), TV (5%), and radio (2%). * Executives spend an average of 15.9 hours per week on the Internet (excluding email) for work and non-work activities. That`s over five hours more than they spend watching TV (10.3 hours), listening to the radio (6.9 hours), and reading newspapers (6.1 hours) and magazines (6 hours). * Senior executives start their day getting their news and updates from the Web, not from newspapers, as part of their daily work routines. Nearly six out of ten (58%) respondents said they access the Internet before they go to work, compared to 47% who indicated they read a newspaper before going to work. * The Internet continues to be seen by the C-suite as the media channel providing the most informative advertising for products for business or personal life; it is the only media channel to have gained significant ground since 2006. EXECUTIVES ARE OPTIMISTIC FOR GROWTH * Seven out of ten respondents said they were confident about their organizations` prospects for revenue growth in 2010 (26% were very confident and 44% were somewhat confident). * Large companies (those with 1,000-plus employees) were the most optimistic - 78% were somewhat or very confident in 2010 revenue growth. * Small businesses (under 100 employees) were the least positive, with 67% expressing confidence in 2010 growth. * Looking beyond 2010, 87% of executives were very (46%) or somewhat (41%) confident in their prospects for growth through 2012. More than 92% of large-company executives expected revenue growth to occur before the end of 2012, with more than half (53%) being very confident. EXECUTIVES ARE PLANNING FOR THE UPTURN * More than half of large-company executives (53%) said they are preparing strategies to be ready for the economic upturn, compared to just under half of midsize businesses (49%) and 41% of small businesses. * Large companies are investing for growth in 2009- including technology, new products and services, and marketing initiatives. * Small businesses, meanwhile, are putting more emphasis on increasing their marketing and advertising expenditures. On the technology front, executives see digital marketing and communication as the best tech investments for business growth, followed by customer relationship management and digital collaboration technologies. About Forbes Insights Forbes Insights is the custom research practice of Forbes Media, publisher of Forbes magazine and Forbes.com, whose combined media properties reach nearly 50 million business decision makers worldwide on a monthly basis. Taking advantage of a proprietary database of senior-level executives in the Forbes community, Forbes Insights` research covers a wide range of vital business issues, including: talent management; corporate social responsibility; financial benchmarking; risk and regulation; and doing business in emerging markets. Forbes Insights Debbie Weathers, 212-366-8848 firstname.lastname@example.org Copyright Business Wire 2009