One important parameter while screening for next set of growth companies would be to find management/CEO with integrity and vision which is, proverbially, easier said than done.
To provide some example, during the 90s, IT Industry was still in nascent stage with a mixture of stable and emerging companies. Out of this landscape, only few companies made it big. The biggest example is Infosys which lead the pack, to a large extent, due to the leadership of Mr Narayana Murthy. He was a principled leader who took a hit from GE in 2002-04 period than to negotiate on the billing rate. All other competitors incld Wipro cut the billing rate to retain business. In addition, he was willing to share wealth via stock options to even the junior-most employees. There was no such precedent of this, at that time, even in US where stock-option was the preserve of the senior-most employees. In circumspect, this created such a momentum that created a world beater organisation. Competitors like Patni/Wipro/Polaris/NIIT/Mastek/Sonata started at around the same time but didnt exactly compete - some of them even destroyed stockholders' wealth.
There are multiple examples - in Indian context - of such wealth creator CEOs.
HDFC Bank (Aditya Puri), ICICI Bank (KV Kamath), Ajanta Pharma (Yogesh/Mannalal Aggarwal), Kaveri Seed (G V Bhaskar Rao)....Any star company will be having a visionary leadership.
The point that I am trying to make - identifying the next growth industry/sector is only half the job. If somehow we can identify the emerging Narayan Murthys/KV Kamaths of the India - that will help narrow down the probables.
So two queries -
1. What are the characteristics of leadership/CEO that we should look for ?
2. Are there any such examples - currently - which impressed people most ? (I recently read Equitas Holding CEO took a paycut voluntarily. For me this is a differentiator which will help in long run (http://economictimes.indiatimes.com/news/company/corporate-trends/pn-vasudevan-md-equitas-the-model-millionaire/articleshow/52002450.cms)
Pls let me know if this makes sense