YPO Global Pulse Survey confirms customer always right

Pakistan News & Features Services

New YPO Global Pulse Survey has found out that customers were the primary inspiration for business innovation around the world.

The Young Presidents’ Organization (YPO), the premier global leadership organization for more than 27,000 chief executives, conducted a survey of its members in over 130 countries to get their latest thoughts on innovation and its implications for the future of their businesses. 

The YPO’s 2019 Global Pulse Innovation Survey, conducted between April 29 and May 6 with more than 1,600 chief executive respondents, confirmed that the majority of global business leaders (57%) felt an urgent need to innovate now. 

Where did they look to find inspiration to innovate? Their customers. 

The survey was conducted by the YPO via an online questionnaire with a representative probability sample of 1,661 YPO members. 

The sample included members in 105 countries and representing 34 industry sectors. Nearly half of global business leaders cited customers as their top source of innovation inspiration (48%) with employees (36%) ranking second. Consultants (10%) and think tanks (7%) lag far behind in the minds of respondents. 

The importance of keeping this key constituency happy was a focal point with nearly one in five respondents citing customer experience as their primary business area most needing innovation now. This ranked ahead of products, data/business intelligence and technology. 

According to additional YPO Global Pulse findings, location, geographic location, industry, company size and length of job tenure greatly inform business leaders’ opinions and go-forward innovation action plans. 

The YPO 2019 Global Pulse Innovation Survey followed on the heels of the YPO Innovation Week. Occurring last week, the YPO Innovation Week connected influential entrepreneurs, innovators and thought leaders to exchange ideas about inspiration, breakthroughs and transformation through signature and digital events around the world. 

The YPO members harness the knowledge, influence and trust of the world’s most influential and innovative business leaders to inspire business, personal, family and community impact. 

The YPO member-run companies, diversified among industries and types of businesses, employ more than 22 million people globally and generate USD9 trillion in annual revenues.