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Survey finds CEO concerns over global economy deepen

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Press Trust of India Dubai
Last Updated : Jan 20 2016 | 3:57 PM IST
Three fifths of corporate CEOs around the world believe continuing economic uncertainty will lead to compromises in the ability of their organisation to maintain high standards, threatening trust in their business, according to a survey.
Independent research commissioned by British Standards Institution (BSI), the business standards company, explores the top threats to organisational resilience, with macroeconomic uncertainty ranked top ahead of disruptive competition and information security.
The 120 CEOs polled from around the globe, show how fragile modern operations with global supply chains are.
Two thirds (64 per cent) of bosses admit that the concept of organisational resilience is inconsistently understood across their business, despite 70 per cent believing it to be vital to the long-term viability of their operation.
Encouragingly, 28 per cent of CEOs are confident they secure an advantage in the market from organisational resilience, almost half (49 per cent) claiming it enhances their company's reputation and 39 per cent suggesting it has improved their organisation's competitiveness through quicker and better targeted responses to opportunities.
"CEOs may become so risk averse that they're not only missing out on opportunities, but potentially undermining the long-term resilience of their organisations. Leaders need to have confidence in the ability of their team to remain agile and adaptive, while maintaining robust processes in the face of uncertainty.

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"Ultimately today's challenging conditions offer an opportunity to forge stronger team dynamics and delivery," the report said.
Worldwide more than half of CEOs (52 per cent) attributed failures in organisational resilience to a lack of skills amongst their workforce. In a signal as to the importance of the issue, more than half (57 per cent) of CEOs take personal responsibility for driving organisational resilience across their business.
Just a quarter (25 per cent) entrusted responsibility to colleagues below C-level in their seniority.
"Change must be led from the top. Organisations can be surprisingly naive, ignoring advice and best practice until they experience a setback themselves. CEO resignations aren't just token sacrifices; they are a symptom of a wider malaise.
"Adapting and coping with change is a team effort, based on a culture of excellence across people, products and processes. True leaders recognise that Organisational Resilience is a strategic imperative across the whole business.

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First Published: Jan 20 2016 | 3:57 PM IST

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