"Cautious Optimism" — that's what CEOs feel when asked about the near-term prospects for the global technology, media and telecommunications (TMT) industry. This is the latest report from Deloitte's TMT practice, which follows the trends and strategies of fast-growth companies through its Deloitte Technology Fast 500 program — an exclusive ranking of the world’s fastest-growing TMT companies.

The report is based on a survey of more than 400 CEOs, and it provides great insight into the issues they expect will drive the industry forward in 2004 and beyond. CEOs in the survey say they are very confident that the global economy will pick up and that their companies will achieve a high rate of growth over the next 12 months. Yet they are keeping their enthusiasm in check, taking deliberate steps to position their companies for growth while maintaining a constant focus on profitability. They are:

• Shifting their focus from cost reduction and cash flow management to sales growth and market share.
• Expanding their workforces — but emphasizing quality over quantity.
• Capitalizing on the real power of the Internet — without all the hype.
• Focusing their growth strategies on major opportunities within their own regional markets — instead of expanding abroad just for the sake of being global.

To learn more about the survey contact Deloitte's Paul Lee in the U.K. at +44 20 7303 0197 or Amanda Goldstein in the U.S. at +1 212 436 5203. The entire 12-page report is available as a PDF file attachment below: