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For the first time, the CEO Report polled CEOs of up-and-coming companies — that is, private-equity or venture-capital-backed firms — and current MBA students on important business issues of the day, including the economy, innovation and the importance of social media.

Even more so than the leaders of publicly traded companies, those we we refer to as “emerging CEOs” feel nimble enough to find innovative and lasting paths to growth. This faith in the future just might be a part of their entrepreneurial DNA. Says David Helgason, CEO of privately held gaming company Unity Technologies: “We’re a terribly optimistic breed.”

Almost all emerging CEOs (96 percent) consider the global economy to be fair or poor, yet 84 percent expect growth in their own companies. Why?

• “If only that were true, then the economy wouldn’t really be in trouble, would it? With our company, expanding just a little is impossible to avoid with our current growth rates. And our company is right smack in the middle of two booming segments: downloadable games and smartphone apps.” — David Helgason, CEO, Unity Technologies, San Francisco
• “The global economy is clearly outside our control. But over the past 12 months, we’ve been able to demonstrate that our technology can deliver a 15 percent to 20 percent improvement in fuel efficiency compared with state-of-the-art, fuel-efficient diesel engines, all while reducing costs. I expect to grow to support the mounting demand for our better engines.” — David Johnson, CEO, Achates Power Inc., engine developer, San Diego

Nearly three-quarters of emerging CEOs expect to add jobs through 2012, compared with just 62 percent of listed-company leaders. In which areas are you hiring?

• “Mostly in sales and marketing, but we expect an increase in our workforce in clinical development if we can generate additional financing.” — Mitchell Seyedin, CEO, Isto Technologies Inc., manufacturer of products for spinal injuries, sports medicine and trauma, St. Louis
• “We’ll be expanding on all fronts, but especially adding more salespeople and more engineers.” — David Helgason, CEO, Unity Technologies

Twice as many emerging CEOs as listed-company CEOs (44 percent vs. 22 percent) say they are “very satisfied” with their company’s level of innovation. What’s the best way to spur innovation?

• “Hiring brilliant people and giving them lots of freedom while also giving them a high-level mission. Having no constraints is not helpful to innovation.” — David Helgason, CEO, Unity Technologies
• “We focus on customer feedback and listening to what they want. That means we survey all new customers and test concepts regularly. Ultimately, though, we use our own judgment to plan the most innovative offerings that will truly delight customers.” — Eric Stang, CEO, Ooma Inc., voice-over-IP home phone service provider, Palo Alto

Most emerging CEOs join listed-company CEOs in expecting social media to have a significant impact on how business gets done in the future. Yet less than a third have a social media strategy in place. Why the disconnect?

• “Social media is a big driver of traffic for us. So, although it’s not yet super-important to our business, it is something we need to understand. The field changes so quickly, so it would be easy to miss important shifts if we were not active in it.” — David Helgason, CEO, Unity Technologies

More than half of emerging CEOs believe trust in publicly traded companies is decreasing, compared with about a third of listed-company CEOs. What can business leaders do to better protect their companies’ reputations?

• “Develop a culture that puts greater emphasis on shareholder values and a greater focus on customer needs.” — Mitchell Seyedin, CEO, Isto Technologies Inc.
• “Have a clear vision and strategy, and execute relentlessly to achieve them. Transparency, in the form of communication, is vital to generating trust between a company and its stakeholders.” — David Johnson, CEO, Achates Power Inc.

Future CEOs Weigh In

In addition to polling entrepreneurs, the 2011 CEO Report asked more than 200 MBA students to share their thoughts on a host of issues, including the economy, the best ways to spur innovation, the importance of social media and how business leaders can better protect their companies’ reputations.

These future leaders of industry are realistic but hopeful. With energy found in those just beginning to climb the corporate ladder, they understand the significant challenges facing our global economy, yet embrace the chance to make it better.

More than 85 percent of listed-company CEOs consider the global economy to be fair or poor, yet just 75 percent of MBAs view the environment to be so gloomy. Why the relative optimism?

• “The average MBA student tends to be younger than the average CEO, so it may be that they are just more open to trying new concepts and ideas rather than just saying ‘that idea won’t work’ and sticking to traditional ways of running a business.” — Vlad Karas, Polytechnic Institute of New York University, New York City, with a concentration in innovation and technology management
• “MBA students are generally more eager and excited to apply the lessons learned in the classroom in a way that will improve the outlook of the global economy. MBAs bring high energy, forward thinking and a collection of new ideas into the boardroom.” — Livingstone Clarke, Norwich University, Northfield, Vt., with a concentration in project management

More than 90 percent of MBAs and entrepreneurs believe that social media will have a significant impact on how companies do business in the future, compared with 79 percent of listed-company CEOs. Is this a generational difference, or is something else at work?

• “Social media tools are part of our everyday lives. CEOs understand the importance but are more accustomed to relationship building, which ideally comes from personal interactions. I expect this disparity will go away within the next few years.” — Sean Donnelly, Fordham University, New York City, with a concentration in international finance
• “This is likely a generational divide. CEOs tend to be older than MBAs and may not necessarily be in tune with new technology. But social media is very important in shaping a company’s image, and CEOs must put a lot more thought into Facebook, Twitter, Google and other ways to promote their companies.” — Vlad Karas, NYU-Poly

MBAs are more open than CEOs to nontraditional ways of spurring innovation. What ways do you feel are most effective?

• “Promote a more free-thinking environment by removing restrictions within the culture. Encourage employees at all levels to share ideas both big and small.” — Livingstone Clarke, Norwich University
• “I like the mantra that there is nothing like ‘success to breed success.’ CEOs’ using stories of success is a terrific motivational tool.” — Sean Donnelly, Fordham University

About one-third of MBAs believe that trust in publicly traded companies is decreasing and only 39 percent feel that CEOs do enough to protect their companies’ reputations. What else should business executives do?

• “CEOs have to understand that the image, influence and social reach of their company is in their power. If someone writes a scathing, untrue criticism of your company on an influential blog or forum and you do not reply, people will take it as truth.” — Vlad Karas, NYU-Poly
• “It’s important for CEOs to highlight what their companies do that has a positive impact in the world. Unfortunately, companies are more reactive by doing things such as donating to disaster relief efforts. The public generally downplays this effort as something that companies are supposed to do or something that is done as a tax write-off.” — Livingstone Clarke, Norwich University