Four out of 10 global CEOs say more than 10% of theircompanies' revenues will come from electronic business inthe next five years, according to survey results releasedyesterday at the World Economic Forum in Davos, Switzerland.
The survey of 802 CEOs also revealed that current E-business levels are low. Three-quarters of the executives said E-business accounts for less than 5% of their companies' revenues today. They also are concerned about nontraditional startups such as Amazon.com; 50% of the executives, including 59% of Asian CEOs, said it's likely that new competitors using E-business will pose a "significant competitive threat" in their industries.
Improving the efficiency of customer service was the No. 1reason CEOs cited for expanding their E-business efforts.But an overwhelming majority, 93%, said the growth ofinternational E-commerce depends on global standards forprivacy protection, security, authentication, and disputeresolution.