Redefining business success in a changing world
82% of Australian CEOs believe business success in the 21st Century will be redefined by more than financial profit
Threats are up 78%. Australian CEOs see more threats today vs. 3 years ago
More than 50% of Australian CEOs believe creating value for wider stakeholders helps them to be profitable
Australian CEOs believe that key risks and innovation are the top two ways to deliver a more sophisticated approach to measuring success and value for stakeholders
61% of Australian CEOs believe the government has a role in play in providing a clearly understood, stable and effective tax system
86% of Australian CEOs believe technological advances will be the top trend to transform stakeholder expectations in the next 5 years
Find out what's top of mind for Australian CEOs in 2016 with our in-depth analysis of this year's Global CEO Survey. Understand the issues that they think are key to succeeding in the future, and how they differ from their global peers.
Want a high level summary of what's top of mind for Australian CEOs?
CEOs both at home and abroad are feeling less optimistic about global economic growth, as well their own organisation’s ability to grow, compared to views last year.
A plethora of reasons have contributed to this. Australia’s economy is readjusting itself from a mining boom, China’s economy is slowing, and the speed of technological change and a huge leap in cyber-attacks means volatility is the everyday norm.
We’re seeing Australian CEOs respond by focusing on cost-cutting measures and reducing headcount. While there’s merit in this, the focus should be on productivity, innovation and R&D, as these will lead to the long-term sustainable growth Australia needs.
The stakeholder pool is broadening and with it comes challenges of who, and how, companies can effectively communicate organisational values and purpose to. It’s no longer just financial investors or regulators that are essential stakeholders, rather customers, industry competitors and local communities who seem to yield significant impact on organisational strategies. Mobile connectivity and social media have meant that everyone is looking for more information on the companies they engage with. This means companies need to convey much more than financial returns, including the broader impact they have on communities, who they partner with and employee practices.
In this year’s report we discuss key issues across the CEO agenda including growth, transformation, measuring success and managing stakeholders. We also consider the role that government has to play, in particular tax reform and helping secure a skilled and adaptable workforce with a focus on science, technology, engineering and maths (STEM).
In conjunction with the survey participants for Australia, we also interviewed 5 business leaders to further understand just how significant each of these issues are for their organisations, and what they’re doing to address them.
Co-Founder & CEO,
Elmer Funke Kupper,
Managing Director & CEO, ASX
Susan Lloyd Hurwitz,
Managing Director, Mirvac
Managing Director, Wesfarmers
Chief Executive Officer of PwC Australia and Vice Chairman, PwC Asia Pacific, PwC Australia
Tel: +61 3 8603 3180
COO, Innowell Pty Limited, PwC Australia
Tel: +61 3 8603 2052