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A GLOBAL SURVEY of CEOs has found that the vast majority are concerned about the effects of over-regulation on their business and growth prospects.
Some 78% of the executives polled see draconian regulation as an impediment to how they do business, the greatest cited threat of the options presented.
The global crash in recent times has led to increased regulation across the developed world, but it seems the green shoots of recovery are seeing businesses grow tired of their shackles.
Similarly 66% of businesses see future changes in regulation as being the greatest impediment to growth for the next five years.
Geopolitical uncertainty and individual governments’ reaction to fiscal crises are the next most cited factors that are affecting businesses’ performance.
Some 1,300 chief executives in 77 countries were consulted for the survey, though alas none of the companies concerned are Irish (although the UK is well represented).
Diversity is now a key factor in corporate strategy worldwide it seems, with some 77% of executives consulted saying that they have or intend to have in future a strategy that promotes it.
On that subject Royal Bank of Scotland chief executive Ross McEwan seems genuinely enthused by the contributions of the women in his boardroom.
“We have found that diversity around the table has been fantastic,” said McEwan when interviewed for the report.
These executives come at problems quite differently from the way male executives traditionally would. If I don’t have those people sitting there, I don’t get that point of view.
Quite the compliment, ladies.
CEOs globally are also worried that the rapid onset of technological change (seen as a challenge by 58%) is making employees with relevant skills hard to come by.
However, executives are learning to live with the pace of technology’s advances, with 80% saying that mobile technologies are now a key part of their strategy.
Accounting firm PriceWaterhouseCoopers (PWC) runs the survey annually to coincide with the World Economic Forum each January. The forum kicked off on Monday in Davos, Switzerland.
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Employees rights are “draconian”
Ah yes regulation, the only thing preventing the top 1% from owning all the world’s wealth instead of just half of it.
In other news, turkeys are concerned about the temperature of ovens around the 25th Dec.
Sure, they say that. They might even think that. But regulation is good for big business. It creates barriers to entry which reduce competition from newer, smaller players, and it creates opportunities to corrupt the regulatory system to your own advantage. Regulation and big business aren’t in opposition. They are two sides of the same coin.
California deregulated the energy market and Enron like true corporate psychopaths deliberately caused 45 billion of debt to the state after illegal operations and sabotaging output to project false profits before collapsing addind to the state deficit.
Perfect example why companies can’t be trusted and why a government regulator is beneficial.
Is this like the corporate McCarthyism that seanie fitz was talking about a few years ago?
One problem with Irish policy is that no mandatory identification of a company director exists. This poses problems for various reasons (which are too long to outline here).
It’s called the G.G.C.U the global greedy c#nts Union.
Goodbye Journal. It’s been good but now it’s time to move on. Goodbye
Vested Interests oppose change.
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