KUALA LUMPUR, 17 April 2012 – PwC Malaysia today hosted a dialogue around the key findings of its 15th Annual Global CEO Survey. Themed ‘Making talent strategic,’ the dialogue was moderated by Malek Ali, Managing Director of BFM, and featured three panellists: Dato’ Sri Jamaludin Ibrahim, President and Group CEO, Axiata Group Berhad; Rajeev Peshawaria, CEO, ICLIF & author of ‘Too many bosses, too few leaders’; and Sarah Casanova, Managing Director, Golden Arches Restaurants Sdn Bhd.
The Survey, conducted in 60 countries around the world, highlighted some major trends surrounding issues such as investing in the emerging world, innovation and developing talent. Managing talent emerged as one of the top target areas for change for the second year in a row. The key findings include:
PwC Malaysia Managing Director Chin Kwai Fatt said, “Unsurprisingly, confidence has taken a dip as CEOs deal with the aftershocks of the recession. Just 15% of our 1,258 respondents believe the global economy will improve this year. Even the World Bank recently slashed its global growth forecast for the year to just 2.5%. In contrast, the International Monetary Fund forecasted that ASEAN GDP growth this year between 5.6 and 6.3%. So our respondents are on the right track when they say that the emerging markets are more important to their companies’ future than developed markets.”
But every market is different - so companies need to get closer to their customers and be able to innovate effectively.
"Innovation is moving away from pushing products out of labs towards creating value for customers. Also, companies are looking at innovations to completely change their operational models," Chin explained. Over half of CEOs in the Survey are increasing the emphasis of their company’s innovation portfolio on business model innovations.
The dynamic nature of global business has also added another dimension to the talent challenge.
“Companies are constantly on the lookout for exceptional talent, and it’s clear that demand for quality talent far exceeds supply. So the challenge for businesses is to make workforce planning part and parcel of business planning, rather than just a knee jerk reaction to recruitment. Companies will have to look within to grow a sustainable talent pipeline,” Chin concluded.
A total of eight Malaysian CEOs across a variety of industries participated in this Survey. For the full report, visit www.pwc.com/ceosurvey.
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