Australia’s CEO survey 2017

Five key areas for long-term, sustainable success

The Australian findings

CEO confidence is up and not only are they more bullish than they were last year, they’re also expecting more growth compared to international peers. That’s a touch of this year’s Australian CEO Survey findings.

Is this confidence realistic in the face of both global and domestic uncertainty?

We outline five key areas for CEOs to consider in order to bring long-term, sustainable success: regaining trust before impacts are felt, finding and adding value in the human system, the battleground of customer experience, the missing piece of the cyber and robotics revolution and why avoiding Asia is not sustainable for Australian companies.

How justified is this world-leading optimism? I’m pleased to present to you our localised findings and viewpoints.

 

Growth

 

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Australian findings

CEOs say trust in business is at an all-time low. Technology has exacerbated the challenge but trust is a leadership issue. Discover why brave human leadership is essential to restoring trust in business.

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Companies have a window of opportunity to rethink and redesign the way they employ, manage and interact with people. Learn more about why it’s the application of the so-called ‘human skills’, things that can’t be automated or done by robots such as adaptability, emotional intelligence and creativity, which will generate future value.

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Delivering a superior customer experience in a digital world means more than having a great content, channel or e-commerce strategy. Explore how customer experience is the new battleground and why customers want an experience where empathy is the centrepiece and technology is the seamless enabler.

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Asia can be a hard market to crack, but that’s not a good enough reason for Australian businesses to ignore it. View our research which shows that if companies want to be part of the growth story of this century, they need to get serious about developing Asia-specific strategies, and making those strategies work.

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Australian CEOs are starting to harness robotics, automation and artificial intelligence. Find out why on the one hand, CEOs are happy to embrace these innovations, but on the other fail to see the risks involved or the need to prioritize security.

Find out more

Are Australia’s CEOs just a little too confident?

Confidence in growth is back.

Our latest global survey shows business leaders around the world are more confident, both in the global economy and in their companies’ growth prospects.

And few CEOs are more confident than Australia’s.

Not only are they more bullish than they were last year, they’re also expecting more growth compared to their international peers.

 

 

But how justified is this world-leading optimism? Only last year we saw evidence of cost cutting and Australia’s CEOs trying to ‘squeeze the lemon’ a bit harder in a bid for growth.

Yet none of the challenges that our business leaders faced then have gone away. In fact, they’ve now got a few more to contend with.

Domestically, the economic outlook remains flat despite the recent uptick in commodity prices. Low wages growth continues to put a handbrake on consumer confidence and spending; slowing productivity continues to be a challenge for business. The fall in economic growth in the September 2016 quarter was the largest contraction seen since the global financial crisis.

On top of this, the new US administration has created some very real risks for Australian businesses. The stated goal of lowering corporate tax rates in the US would pose a major threat to investment in Australia, while any potentially acrimonious trade negotiations between the US and China – our two biggest trading partners – would be significant for Australia.

Globally, the outlook is more uncertain than it was 12 months ago. The world is yet to feel the full impact of a ‘hard Brexit’, let alone the economic consequences of a Trump Presidency.

The optimism could be because the 'post mining boom cliff' wasn’t as steep as everyone expected, the construction boom and commodity price rebound has delivered Australia a 'get out of jail free' card. But the fact remains that these are short-term events.

Modelling predicts that if Australia stays on its current economic trajectory, we will fall out of the world’s 20 largest economies by 2030.

Despite all this, Australia’s CEOs are stepping up and planning for growth.

Compared to this time last year plans to increase headcount and undertake M&A are up, while plans for cost reduction programs and outsourcings are both down. And almost all have plans for organic growth.
 
But is this just ‘more of the same’, when what’s really needed in the current global economic and geopolitical environment is deeper, more radical change?

Are leaders at risk of being overly optimistic, of not fully grasping the bigger picture?

We’ve considered five key areas that Australia’s CEOs should focus on this year to set their companies up for long-term, sustainable success.

 

Australian key findings

Contact us

Scott Gillespie
National Thought Leadership Leader
Tel: +61 2 8266 3229
Email

Kieran McCann
National Thought Leadership Manager
Tel: +61 2 8266 0252
Email

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