Rarely in history have business leaders dealt with as many challenges as the last three years, each uniquely complex and compounding. And never before have leaders had to respond to them all at once.
CEOs and the wider leadership team must now be diplomats to deal with geoeconomic and polarisation issues, crisis managers to quell angry customers when supply disruption limits product availability, purpose evangelists to retain talent, socially conscious to view decisions through an ESG lens, digitally literate to drive transformation, all while having the risk tolerance for business model reinvention.
It’s no longer enough to focus on resilience and short-term profitability. Businesses need to transform to survive and grow.
Fortunately, despite the global turbulence, Asia Pacific is weathering the storm. Over the next decade, 70% of global growth will come from Asia Pacific. The region is set to have the highest aggregate consumer expenditure by 2030 and is home to some of the largest consumer markets.
There are three fundamental questions that we believe businesses need to consider when repositioning their supply chains for growth:
Continuing global turbulence has only exacerbated the supply chain crises of the COVID-19 years, creating a race for new suppliers, locations and talent, and highlighting the pressing need for more wholescale strategic transformation. Despite these challenges, Asia Pacific is still primed for growth. Businesses that differentiate themselves to win this race, while using advanced technologies and ESG to their advantage, will see future success secured. Find out more on practical steps that CEOs can take to rebalance for growth.
Asia Pacific CEOs are showing increased confidence in economic prospects and their business viability. While there has been notable progress in business transformation, many leaders remain hesitant to take bold actions.
Job switching may surpass ‘Great Resignation’ levels amid rising workloads and an accelerating pace of change across Asia Pacific.
Asia Pacific is evolving rapidly. Businesses in the region must reshape uncertainty into opportunity, complexity into clarity, problems into potential.
Not only is Asia Pacific’s booming middle class getting larger and wealthier – it is also becoming more demanding.
