Company Heads in Australia Positive about Economic Prospects

As per the latest 2016 KPMG Global CEO Outlook Study, most of the higher-ranking company heads in Australia are rather hopeful about the economic growth, vis-à-vis their counterparts in other nations.

While roughly 92% of the Australian chief executive officials have a fairly positive stand on the global economic growth outlook, 72% opine that the coming three years will be more critical, in relation to the preceding five decades. They also look forward to innovation, transformation &technology to be their major strategic drivers.

This confidence arrives despite 15% of the Australian CEOs reportedly corroborating that their firms had witnessed either flat or off-putting growth over the past three years, in comparison with global firms.

The report discovered that the corporate leaders know that to obtain growth, it is mandatory that they focus more clearly on the growingly competitive scenery. Global CEOs are portraying the short to medium term as a period that will usher-in unparalleled change.

As per a concerned person, the slogan, ‘who dares wins’, may be espoused for the Australian CEOs. He added that despite the fact that they are becoming more adventurous and taking on added risk, in respect of their global counterparts, they are also more positive concerning the medium term prospects.

Allegedly, the survey result reveals that 48% of the global CEOs and an important figure of the Australian CEOs, some 43%, stated that they expected to get top line progress of anywhere between 2% and 5% in the coming three years.

It is also claimed that it’s crucial that both global and Australian CEOs are more positive about the growth outlook articulated in top line terms; however, the Australian CEOs claim that they will rely far more on new markets to propel growth, in relation to their Global matching parts.

Roughly 36% of the Australian CEOs state that new markets will be the most decisive source of growth, in comparison with 25% internationally. Locally, while fresh clients are placed at the second spot as a growth driver with 28%, new channels occupy the third position at 19%, and fresh goods at 17%.

The study also reportedly discovered that 28% of the CEOs of Oz proposed fostering innovation as one of their leading three strategic priorities, vis-à-vis 21% internationally even while just the CEOs from China nominated the same as a higher priority region at 43%.

Allegedly, for the CEOs of Oz, the competitive market &technology, in place of economic conditions, were currently most crucial. Strategically, innovation has moved to the front. It is vital that 45% of the Australian CEOs assert they are taking an hastened approach to innovation, vis-à-vis 35% worldwide.

Allegedly, it was also rather exciting that Down Under was more worried about executing troublemaking technology at 28% in Oz, vis-à-vis 19% internationally, but both local and global chiefs had named a stronger client focus as an important growth priority at 17% &19% in that order.