Grant Thornton Ranks Top Middle Market Concerns

Research by Grant Thornton identifies business planning in uncertain times as one of the top concerns of business owners and executives of middle market companies. The other top ten concerns show why companies are looking beyond traditional financial measures to boost their corporate IQs in times of uncertainty.

As part of the research, members of the Grant Thornton Business Owners Council were asked, "As you look at the current economic, business and competitive environments, what are your greatest concerns?" The top 10 concerns:

  1. Sense that the customer has higher expectations than ever
  2. Dealing with an uncertain future (can't rely on trends, need to be in a position of financial and resource strength)
  3. Constantly streamlining, eliminating activities and processes that do not add value
  4. The need for employees to take more ownership in what they do, how they do it
  5. The need to communicate more effectively with employees on our focus and future
  6. Productivity issues: Consolidation of resources, need for efficiency
  7. Looking for new innovations
  8. Overall management in a down economy (employees, customers, etc.)
  9. Increased price competitiveness in a smaller market with the same number of players
  10. Focused blocking and tackling (need to lead, but need to manage as well)

"With the volatility of today's economy, companies need to have a plan of action if they want to survive and thrive," says John Desmond, partner-in-charge of the Grant Thornton Business Owners Council. The top concerns show that an effective plan can't be built without inputs on customer satisfaction, business intelligence, process efficiency, employee empowerment, communications effectiveness, productivity, ability to innovate, corporate culture and overall management effectiveness.

A white paper featuring the Council's insights on the essential internal and external information that should be included in the planning process and how to maintain a balance between short-term goals and long-term perspective is available at Grant Thornton's Web site.

-Rosemary Schlank

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Upcoming CPE Webinars

Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.