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Senior executives expect economic recovery and increased profitability
NEW YORK, July 7 /PRNewswire/ — Expectations about corporate growth turned positive this year, according to a new survey by Ernst & Young LLP that measures attitudes about key economic and performance indicators among US companies with $500 million to $3 billion in total revenues. Respondents were particularly optimistic about revenue, profitability, technology spending and hiring.
According to the Ernst & Young Growth Company Leadership survey, fully 75% of senior executives questioned indicate they are optimistic about achieving their companies’ growth expectations over the next two years. Among respondents, almost two-thirds (64%) expect their revenues to increase over the next 12 months by an average of 11.3%. Fifty-eight percent anticipate profit increases this year.
Further, 73% are optimistic that the current economic recovery will continue to expand this year.
“Growth companies are regaining confidence that they can deliver on their potential and their promise to investors,” said Maria Pinelli, Americas Director, Strategic Growth Markets, Ernst & Young LLP. “Their beliefs about hitting strong numbers are great news and a potential bellwether for the markets and the economy as a whole.”
More than half (55%) of all respondents say domestic operations solely will drive revenue growth, with another 39% indicating a combination of domestic and international operations. Regionally, firms in the East Central and West regions are most likely to expect revenue increases this year. Nearly three in four (73%) respondents in the West expect profitability increases over the next twelve months. Growth companies in the West are the most optimistic that the current economic recovery will continue to expand this year (88% optimistic). The Southeast has the fewest believers (56% optimistic).
The industries that are most likely to expect growth in both revenue and profits, according to the survey, are technology (74% revenue and 72% profitability), financial services and retail/wholesale (both 69% revenue and 63% profitability). Financial services companies report the highest average revenue growth rate (13%).
Growth companies plan to hire over next 12 months
Forty percent of executives surveyed anticipate an increase in hiring new employees over the next 12 months. Only 22% anticipate a decrease in hiring.
“Job growth – not just maintenance – represents a turning point from the past 12 months,” said Pinelli. “The largest of these growth companies – over $1 billion in revenue – are even more positive, with 46% projecting hiring increases. With so many companies looking to hire, we foresee a substantial contribution to the overall economy. Growth companies and entrepreneurs could represent significant engines to push jobs in the right direction.”
More than half (52%) of senior executives indicate that their expected increase in new hiring this year is the result of “new growth,” while almost as many (48%) indicate that it is more a “return to pre-economic downturn levels.”
-- Hiring is projected to focus on skilled professionals (68%), entry
level (45%) and middle management (39%).
-- Eighty percent of the hiring will be in the US.
-- The barriers to hiring expressed by the respondents focus far less on
economic uncertainty (only 8% said this is their biggest barrier), but
more on finding qualified candidates (22%).
-- Of those companies not planning to hire new employees this year, more
say they needed to see increased revenue (42%) or an improving economy
(27%) before they will consider hiring again. If the growth sector
optimism proves to be true, perhaps even those not hiring now will do
so in the near future.
Organic growth more likely than M&A
“While M&A activity can support the health and well-being of individual companies, new business development signals the potential for economic expansion,” said Pinelli. “It’s important to examine where revenue growth will come from, what the barriers may be and the likelihood of those barriers easing. Fortunately, we see a preference for organic growth. Also, the leading barrier, health care costs, seems to be factored into executives’ forecasts.”
-- Organic expansion of current operations is cited as the leading driver
(64%) of growth, followed by new products or services (56%) and
innovation of existing products and services (49%). Expense reduction
or mergers/acquisitions are seen as drivers of growth for far fewer
senior executives surveyed.
-- Respondents say health care costs are a more significant inhibitor of
growth in 2010 than access to or cost of capital - 45% indicate that
healthcare costs are a major impediment to their ability or
willingness to grow domestically.
Expect a rise in spending in the growth sector
Six in ten respondents are comfortable spending/investing in the current economic environment in order to realize growth in their businesses. When it comes to capital spending, respondents expect five key investments to increase:
-- Technology (51%)
-- Employee training (34%)
-- Risk management (32%)
-- The majority of financial service company respondents (54%)
indicate an increase in spending on risk management
-- Green initiatives (32%)
-- More senior executives in the West (52%) see increased spending on
green initiatives
-- Research & Development (30%)
Methodology
The Ernst & Young Strategic Growth Markets Growth Company Leadership survey was conducted in April 2010 and represents responses from 349 senior-level executives at US public and private firms, across multiple industries, with $500 million to $3 billion in total revenue.
About Ernst & Young’s Strategic Growth Markets Practice
Ernst & Young LLP’s Strategic Growth Markets (SGM) practice guides leading high-growth companies. Our multi-disciplinary team of elite professionals provides perspective and advice to help our clients accelerate market leadership. SGM delivers assurance, tax, transactions and advisory services to thousands of companies spanning all industries. Ernst & Young is the undisputed leader in taking companies public, advising key government agencies on the issues impacting high-growth companies and convening the experts who shape the business climate. For more information, please visit us at www.ey.com/us/strategicgrowthmarkets.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit www.ey.com
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
This news release has been issued by Ernst & Young LLP, a US client-serving member firm of Ernst & Young Global Limited.
Source: Ernst & Young LLP
IRVINE, Calif., June 9, 2010 — Today’s workplace environment reflects the excess that has occurred in the country, which has finally caught up with us.
“Whether it is obesity, taking medications, rampant healthcare costs or failed budgets at the personal, state or federal level – we can no longer ignore our lack of self control,” said J.R. Slosar, a psychologist and author of “The Culture of Excess: How America Lost Self-Control and Why We Need to Redefine Success” (ABC-CLIO: Praeger). “Nor can we ignore the reasons that contribute to it. Financial collapse and the great recession have forced workers to make changes for economic survival and to stay employed.
Companies that are rebounding are now faced with a rapidly changing culture that must redefine what ’success’ is. These cultural forces include the speed of technology, technology coupled with media and the risk-taking that comes with excessive capitalism.”
Understanding these trends and their impact on behavior has profound implications for the workplace.
Slosar explores and discusses these cultural trends and offers recommendations for everyone to develop a focused self-control and utilize good judgment and effective decision-making skills.
Here are some key points of the book that can help offset the fast and uncontrolled pace of today’s workplace.
1. Develop Quantitative Skills.
Today’s workers have much avoidance of numbers and anxieties surrounding math. This is reflected even with overall U.S.
scores in school in math and science. Employers desperately need people with math and quantitative skills. It is paramount for employers to help workers develop quantitative thinking and skills. The development of these skills has a carryover effect: the use of analytic thinking and better decisions. This is because this thought process is slower, more deliberate, and avoids the fast screen media impulsivity that leads to poor decisions.
2. Establish Boundaries and Limits.
Surveys show that one of the most prized workplace issues today is to have flexibility. Workers constantly want to not have fixed hours, to work at home, and to have much flexibility in their schedules. Unfortunately, this contributes to a less structured and diffuse environment that contributes to less self-control. Employers (like
parents) have to set boundaries and limits. A young employee cannot grow and develop without boundaries and limits.
Employers seem to think that productivity increases with flexibility because workers are happier. Slosar points out that the primary culprit in declining self-control reflected in increased risk-taking and cheating, is the lack of boundaries and limits. He states: “In an era that prized deregulation, we have deregulated our internal mechanisms of self-control.”
3. Develop New Measurements of Success.
Total emphasis today in business is usually on quantity and dollar figures, that is, the proverbial bottom line. It is important for decision makers to develop qualitative measures and show how they relate to workplace improvement.
Today’s new model of success is more refined and qualitative. It results in finding ways to improve efficiency, develop better customer relations, and making things safer, easier, and more efficient at work. If it makes life easier, it will surely be noticed and improve the “bottom line.”
The dramatic changes that have come from The Great Recession demand a new perspective and a new model of success. What is more important is that improvement in the above areas will develop an efficient, healthy and productive workplace.
The Culture of Excess is available on Amazon in hard cover and Kindle. It is also available from the publisher (http://www.ABC-CLIO.com). Discussion and blogs are available at his web page: http://www.cultureofexcess.com
MITRE Appoints Gary Gagnon to Cyber Security Role
Posted by: | CommentsBEDFORD, Mass., and MCLEAN, Va., April 26 /PRNewswire-USNewswire/ — The MITRE Corporation’s President and CEO, Alfred Grasso, has announced the appointment of vice president Gary Gagnon as corporate director of cyber security. In this newly formed position, Gagnon will work closely with MITRE’s leadership to develop and implement MITRE’s overall cyber security strategy and cyber work program activities performed for all government customers. In addition, he will be responsible for MITRE’s internal cyber security program and the use of company systems as a test bed for providing recommended actions to government customers.
“An increased focus and coordinated approach on cyber security and assurance underlie successful outcomes for all of our government customers,” said Grasso. “Gary brings a wealth of experience in cyber, and he will make sure that we’re delivering the strategies that enable our customers to effectively deal with advanced cyber threats.”
In establishing this new position, MITRE is taking an unprecedented approach on cyber security research and development. Rather than have separate organizations with separate leadership for internal and customer programs, MITRE is appointing Gagnon to oversee both cyber portfolios. In doing so, the company is able to integrate its own infrastructure protection efforts with ongoing cyber work for government customers.
Gagnon, who joined MITRE in 1986, has more than 25 years of experience in the field of computer security and critical infrastructure protection, serving a broad range of federal government agencies. He has helped pioneer investigative approaches to emerging cyber threats since 1998. Notably, he worked with a team that formulated the technology to investigate the earliest large-scale denial of service attack in early 2000–an attack that exposed widespread Internet vulnerabilities.
During the millennium roll-over, Gagnon led a team of experts from 24 private sector companies in support of the Cyber Assurance National Information Center (NIC) for the Y2K Information Coordination Center, which provided the federal government with computer intrusion and malicious code release information from the private sector.
In addition, Gagnon has held several leadership positions within MITRE where he concentrated on solving information security issues for a variety of Department of Defense organizations, including the U.S. Army, U.S. Navy, and the National Security Agency (NSA). As part of this work, he investigated technologies such as intrusion detection systems, firewall technology, computer forensics, and virtual private networks, as well as “NSA-Grade” quality security countermeasures.
Concurrent with his cyber security responsibilities, Gagnon serves as a vice president in the Center for Integrated Intelligence Systems within MITRE’s Department of Defense Command, Control, Communications, and Intelligence FFRDC. In this role, he focuses on support to the U.S. intelligence agencies, military intelligence organizations, and the combatant commanders, with a particular emphasis on cyber issues within the Intelligence Community.
MITRE has been a leader in helping government and industry in developing standards that give information technology vendors a common platform for defining and guarding against software vulnerabilities. The company’s open source programs, including Common Vulnerabilities and Exposures (CVE®), Open Vulnerability and Assessment Language (OVAL®), Common Platform Enumeration (CPE(TM)), and Common Configuration Enumeration (CCE(TM)), are widely used tools to protect data and information.
About The MITRE Corporation
The MITRE Corporation (www.mitre.org) is a not-for-profit organization that provides systems engineering, research and development, and information technology support to the government. It operates federally funded research and development centers for the Department of Defense, the Federal Aviation Administration, the Internal Revenue Service and Department of Veterans Affairs, and the Department of Homeland Security, with principal locations in Bedford, Mass., and McLean, Va.
Source: MITRE Corporation
Counterterrorism, Counterespionage, Forensic Training for Advanced Professionals
UTICA, N.Y. The threat of cyberterrorism is real and rapidly expanding, warned FBI Director Robert S. Mueller, speaking at a conference recently.
Cyber crime — including cyber terrorism, cyber espionage and online fraud — poses a grave threat to national security, economic health and even personal safety. Utica College has designed a new master’s degree that will answer these critical national needs and arm professionals with the skills they need to prevent and counter the growing threat of cyber attacks.
The new degree, Cybersecurity – Intelligence and Forensics, is the first of its kind with an emphasis on intelligence and the global complexities of infrastructure operation and protection.
A pioneer in economic crime, cybersecurity and criminal justice education, Utica College addresses a growing need for professionals with advanced knowledge on how to proactively safeguard computer systems and online data against increasingly sophisticated attack and infiltration techniques.
“Dependent on systems that are vulnerable to attack, private industry, as well as government and military officials, are in serious need of professionals with this highly specialized education,” said George Curtis, dean of the School of Business and Justice Studies. “Utica College, with an outstanding track record in economic crime, criminal justice and cyber security and information assurance programs, is ideally positioned to offer this degree.”
The degree will be offered on line beginning this fall, with two residencies in the world-class Economic Crime and Justice Studies building at Utica College. UC is home to the Computer Forensics Research and Development Center (CFRDC); the Economic Crime Institute (ECI); and the Center for Identity Management and Information Protection (CIMIP) of Utica College, which has garnered national attention for its landmark study of perpetrators of ID theft.
The program offers two specializations:
- Cybersecurity: Designed for professionals interested in cyber intelligence and counterintelligence, cyber counterterrorism, and cyber countersabotage, the curriculum covers analysis of global and national cybersecurity policies, the study and protection of critical infrastructures, as well as operations involving cyber threats and defense.
- Computer Forensics: Designed for professionals interested in the investigative side of major cyber crime, the curriculum emphasizes a comprehensive understanding of the forensic tools and techniques used to investigate and analyze network-related incidents and digital devices. Coursework also focuses on the important task of collecting and preserving digital evidence.
Students in the program may wish to explore new careers or expand their current knowledge base in counter intelligence, defense, homeland security, law enforcement, and computer forensics.
“Utica College designed this program in response to an appeal from cybersecurity professionals in the public and private sectors for the development of a graduate program in cybersecurity,” said Randall K. Nichols, director of the new program. “The addition of the master’s program to our suite of economic crime, computer forensics, cybersecurity and information assurance programs reflects the burgeoning needs in the field.”
More information about the online Master of Science in Cybersecurity – Intelligence and Forensics is available atwww.onlineuticacollege.com/programs/masters-cybersecurity.asp
About Utica College
Located in the heart of Central New York, Utica College is a comprehensive, independent, private institution. Utica Collegeoffers regionally accredited campus-based and online bachelor’s, master’s, and doctoral degree programs, with options for study in a variety of fields, including business administration, economic crime management, criminal justice, and health care. All courses are taught by highly experienced, credentialed faculty whose accomplishments are renowned throughout their respective industries.
Winners Honored at Gala on January 20
HARTFORD, Conn.–(BUSINESS WIRE)–Nine innovative, outstanding women from across Connecticut were honored January 20 during the sixth annual Women of Innovation awards dinner at the Aqua Turf Club in Southington. The awards program, sponsored by the Connecticut Technology Council, recognizes women in the workforce who are innovators, role models and leaders in the technology, science and engineering fields. Students at both the high school and college level are also recognized. Nearly 600 guests attended this year’s event.
“connect people, ideas and opportunities to the global technology and innovation community.”
United Technologies Corporation, one of the event’s three major sponsors, announced at the dinner that they would be sponsoring another all-girls FIRST robotics team. This is the second consecutive year that UTC has supported such an initiative.
The 2010 Women of Innovation winners are, by category:
Academic Innovation and Leadership
Dr. Marja Hurley, professor of medicine, University of Connecticut Health Center, Farmington.
Collegian Innovation and Leadership
Claire Weiss, doctoral student, Institute of Materials Science, University of Connecticut, Storrs.
Community Innovation and Leadership
Seema Winsor, principal engineer, Pitney Bowes Inc., Stamford.
Entrepreneurial Innovation and Leadership
Heidi Douglas, founder, Nuventus LLC, Groton.
Large Business Innovation and Leadership
Christine Marsh, vice president, business analysis, Boehringer Ingelheim Pharmaceuticals, Inc., Ridgefield.
Research Innovation and Leadership
Baikun Li, assistant professor, department of civil and environmental engineering, University of Connecticut, Storrs.
Small Business Innovation and Leadership (two winners)
Julie Pellegrini, vice president, Graph Logic, Inc., Branford.
and
Linda Stahl, director, strategic products, COCC, Avon
Youth Innovation and Leadership
Neeharika Krothapalli, student, Farmington High School
About the Connecticut Technology Council
The Connecticut Technology Council is the state’s industry association for the technology sector. CTC’s mission is to “connect people, ideas and opportunities to the global technology and innovation community.” CTC provides members with business assistance and specialized programs, in addition to promoting and supporting public policies that position Connecticut to have a globally recognized “culture of innovation” that helps attract great ideas and entrepreneurs to in turn develop new jobs and wealth for the state.
USPTO to Hold Live Online Chat for Independent Inventors
Posted by: | CommentsAlexandria, Va. (Jan. 11)—Senior officials of the Commerce Department’s United States Patent and Trademark Office USPTO) will be available live online Tuesday, Jan. 12, 2010 from 2:00 to 3:00 p.m. (EST), answering questions and offering tips for independent inventors. Instructions for taking part in the online chat will be posted on the USPTO Web site at 10 a.m. (EST) Tuesday. Inventors can begin logging on for the chat at 1:30 p.m. The independent inventor on-line chat is part of the USPTO’s continuing effort to promote and protect America’s independent inventor community. (More)
How long will it take to get 14 million people back to work?
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On Friday the jobs report stated that “In July, the number of unemployed persons was 14.5 million.” What expectation even under the best of scenarios do you have for what time frame it will take to get 14 million people back to work?
When we begin to look at the facts and focus into reality the absolutes that we face, the unemployment numbers combined with a still struggling housing market, Americans with decreased credit worthiness to have access to any capital and the loss of retirement and investment funds by schemes the probability of a recovery looks more like it will be 2 years away.
We will need to pull together as a country and disallow the division within our government to trickle down to our neighborhoods one sad story is bad enough one in ten becomes overwhelming.
Although we were scolded for the crisis because it was stated that Americans borrowed too much then watch while we funded the greed, bailing out corporate companies that were “too big to fail” with tax dollars we worked honestly for we are now subjected to funding programs and bills with money the government is borrowing.
We could play a blame game all day long but it won’t solve the problem we have getting these 14 million people back to work. It is time to stop whining about the problems and be focused on solutions we can afford and that will begin making a difference. I didn’t vote for Change but I want Change that will make a difference and a government that is working together.
Building Strong Partnerships
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Projects and goals can survive the difficult times ahead if you build strong partnerships and cross pollinate with like-minded individuals. The right combination of people will contribute knowledge and resources necessary for success. Strong partnerships can minimize weaknesses and maximize strengths as well as combine assets to improve the partnerships chances of success.
Architecting a successful partnership takes skill. It is important to take the time to define roles only after every potential partner has the opportunity to express their vision, skill set and availability.
Combining a strong group of potential partners is not always easy. Having a group of intelligent people with strong opinions can often lead to control issues. Partnerships require compromise. It is important that every potential partner in the room set aside what they think they know and be open to a new experience. They must be as good a listener as they are a talker.
At the onset of partnership building don’t demand that you’re way is the only way. Successful partnerships require give and take which may require giving up control of things that may be really important to you. Many times this is the point of contention, letting go of certain roles and responsibilities to someone in the partnership is not always easy for those set in their ways.
It can be helpful to bring in a facilitator to the partnership building process. A business coach can help mediate and work through the process of building a strong partnership agreement bringing objective input and helping each person realized the benefits the others to the success of the group.
Finding good partners is not always easy but many highly networked business coaches and consultants often have the ability to put people together that fit and may have the partner you need in their network. We have successfully brought together many of our clients this past year creating strong partnerships that led to faster goal achieving.
You Faked it Long Enough – It’s Time to Really “Make” it!
Posted by: | CommentsYou often hear people say “fake it til you make it.” Well it is time to stop faking it and really make it. The saying was meant to be an internal thought not an external claim to keep you focused on the goals. The misuse of this by externally faking it to others is just plain old fraud and not what this statement was originally intended for. It was really a creative manifestation motto not a means to manipulate anyone externally.
Stop faking it and really start making it. If you continue to say you are something and doing absolutely nothing to actually achieve becoming that claim you’re not living in reality. For example, if you have been telling people you graduated from college and you never did, go get that degree and become what you said you were.
Too many people took advantage of this statement “fake it til you make it” and used it the wrong way. It is not too late to make your past statements true. Put in the work and effort to follow through on your claims or stop making untrue statements.
If you have regret fix it now
Posted by: | CommentsIf there is any regrets in your life there is no time like the present to fix it. The energy wasted on regrets is draining and it is important to take time to make right any wrong you still hold on to. Once you fix the past the present because a more relaxed state of awareness and new opportunities open allowing you to strengthen your passion and conviction to embrace and take hold of your future.
One lesson we all learn when we look back over our regrets and resentments is that patterns begin to show themselves and lessons are revealed. These patterns tend to show resemblences when we failed to learn a life lesson different circumstances and drama arise in our lives attempting to give us a chance to learn a lesson again and again until we get it right.
Taking an inventory of these regrets and finding a way to fix things will free us from the bondage of repeating mistakes. Make peace before it is too late. By cleaning up these regrets and moving forward you will feel more satisfied.
As an example for 20 years I have had a client talk about how she only has a high school education, finally she just registered for school to earn her College degree and no matter how long it takes to earn that degree I am sure it will be less time than she spent complaining about not having one.
