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Richmond Events' US Business Panel Report - Economic Outlook Research


The latest Richmond Events' business panel is now available. Please read on for headline findings and to download the full report.

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Richmond Events' US Business Panel Report - Attitudes to Suppliers Research


The latest Richmond Events' business panel is now available. Please read on for headline findings and to download the full report.

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The Organization - Richmond Events US Business Panel report


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Our US Business panel recently answered a questionnaire on the 'Inner workings of the organization'

An interesting report, giving an overview of who is driving the organization forward, which departments are most popular (and which are less so) and what makes relationships work within an organization

Headline findings:

  • The Operations department is perceived as the closest / most productive ally within an organization, followed by the Finance department. 
  • Asked what produces good working relationships, it’s all about personalities.  If the panel ‘get on’ with their equivalent then there is a greater likelihood that the departments will have a closer, more productive working relationship. 
  • In terms of who the panel have their most adversarial relationship with, Sales is the clear leader, followed by IT. 
  • At the other end of the scale, not many people tend to fall out with the Production department and funnily enough, not with the CEO.  It’s a fair bet that those that did probably weren’t around to answer this questionnaire anyway.
  • Asked who they feel drives their organization forward, remarkably it’s not the CEO but the Operations department.  Just over one third of the panel feel the CEO is successful in driving the organization forward, which leaves the other two thirds who haven’t said as such………….. 
  • Most instrumental in impeding the organization’s progress – unlike who’s driving the organization forward - there is no clear leader, but instead 3 areas that all achieve a similar score.  These are IT (36%), followed very closely by HR (31%) and then Sales (29%).
  • Asked to nominate who was most effective over a series of attributes:
  • Cost saving – Most effective: the Logistics department, least effective: the Marketing department.
  • Profitability – Most is the Sales department, least is IT and HR.
  • Innovation – Most is the IT department, least is the Finance department.
  • Boardroom Influence – Most is the Finance department, least is Logistics.   
  • For almost half of organizations the need to control costs still dominates their thinking.  On a much brighter note a third say they are increasing their investment in certain areas, whilst a further 15% say they’ve got costs under control and are loosening the purse strings a little.
  • The majority of the panel are positive in their views towards their Finance department, with the largest proportion feeling they have been invaluable in cutting costs and preserving jobs.
  • When the panel are facing a difficult colleague, the number one strategy is to build alliances with others: clearly strength in numbers.
  • The number one issue to improve the panel’s working life is less cumbersome decision making processes. 
     
If you would like to receive a full copy of the research please get in touch.


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