Newport Consulting is pleased to present its inaugural South-East Asia (SE Asia) State of Play report, “Managing Change in a Growing Region”. For the last five years, we have conducted State of Play reports in Australia and New Zealand, delivering business leaders, government and media latest insights into the real business methods and thought processes of corporates.
The SE Asia region presents so many exciting opportunities for both local and global businesses, and many leaders want to reap the benefits of all that the region has to offer. Despite the growth opportunities on offer, there are significant challenges in managing change and excellence across this diverse and fast-growing region.
The SE Asia State of Play report aims to accurately gauge business confidence and in doing so, challenge business thinking on operational excellence, high performance, customer service and innovation. How can businesses operating across Asia do so consistently, while meeting varying regulatory and compliance requirements, cultures, religions and tax structures?
More than 180 business leaders from Thailand, Singapore and Indonesia participated in the report, providing in‑depth insights into a number of critical business areas.
The report’s key findings include:
- Strong business confidence
Leaders across the region are very optimistic about the economy and the growth prospects of their organisations, with more than half of surveyed leaders(61 per cent) reporting growth forecasts of more than 10 per cent over the next 12 months. A further 63 per cent of surveyed leaders predict the economy to grow in the next three years and only one quarter said that the economy will slow or decline.
- Indonesian business leaders most confident
Indonesia comes out on top as the country where business leaders are very optimistic about the country’s future economic outlook as well as their own business prospects with many predicting significant revenue growth over the next 12 months. Of the surveyed leaders, 46 per cent are very optimistic about their prospects compared to the regional average of 32 per cent.
- Singapore’s leaders feel the impact of changing regulations
Only 10 per cent feel very optimistic about future growth and only a third expect growth of more than 10 per cent in the next 12 months, compared to a regional average of 61 per cent.
- Recruitment and retention keeping leaders awake at night
Recruitment and retention is the number one challenge for leaders across the region. With wages steadily increasing and unemployment low, the quest to retain staff is difficult when head-hunting quality staff is very competitive.
- Improved productivity is on the agenda
Companies are looking to adopt new technologies as a way to improve productivity and address rising business costs with the end result being greater process efficiency and customer service. Close to 70 per cent of business leaders across the region have cited productivity as a key focus growth area.
Download the full report here: SEA State of Play- Managing Change in a Growing Region-2013-14