One-third of all listed companies in China might disappear in the next five years, according to a report released by global management consulting firm Boston Consulting Group (BCG) on Monday.
The gap between advanced companies and underperforming ones has reached a record high, said the report, noting that it's more important than ever for enterprises to seek effective strategies.
Many managers find that the traditional methods they learned in business school no longer work, read the report.
However, those leaders who have the guts to try innovative methods in management will obtain better returns, according to the report.
Corporate leaders need to consider whether their industry has a good outlook, said Martin Reeves, a senior partner and managing director in the New York office of BCG.
The State Council, China's cabinet, announced the "Made in China 2025" plan on May 19, 2015, in a move to boost Chinese manufacturing. Under the plan, the country highlighted the importance of innovation for each industry.
