81% CEOs In India Mark Availability Of Skills As The Biggest Challenge !

Must Read

Free Netflix in India: A Result of Slow Growth In Q3 2020?

Netflix is testing a new strategy that could lead to free Netflix in India. The online streaming...

Tesla First Cancels Return Policy And Now Cuts Warranty Period

Just last week Elon Musk surprised everyone by cutting the price of Tesla Model S twice in...

Jio Pages: The Indian Browser Reliance Is Betting On Now!

Looks like Reliance wants to establish Jio as a synonym of technology. After launching a fleet of...

The fast changing market with fluctuations in economy, uncertainty in many areas of business and maybe even instability in Political arena, gives raise to numerous challenges for the leaders today. It’s said that corporate leaders are facing some of the most challenging times now because of its unique exposure on the regulatory and reputational fronts. CEOs are required to manage a lot of it themselves and also hold on to their enabled leadership in all this uncertainty!

The PWC’s annual CEO survey 2014 gives us an idea of some major challenges to look out for: while global CEOs seem more concerned about increasing tax burden and skills availability, CEOs in India have to deal with additional issues related to infrastructure, protectionist economic policies and corruption at every level. Digging up more on the survey it is seen that the top three business-related concerns of Indian CEOs are: availability of skills (81%), inadequacy of basic infrastructure (75%) and increasing tax burden (75%).The top challenges related to economic and political environment include: protectionist tendencies of national governments (77%), bribery and corruption (74%) and exchange rate volatility (74%).

India CEOs key challenges 2014

Another global survey (The Conference Board CEO Challenge 2013) identifies the top 5 CEO challenges as: human capital, operational excellence, innovation, customer relationships, political & economic risks.

Advertisements

Top Global Challenges 2013

According to CEOs themselves, their main challenges are (IBM CEO Survey):  The collaboration, which is to sustain and improve competitiveness in a context of talent scarcity in a fast-changing world where adaptability will be the key. Next is the challenge of better understanding of customers which helps to serve them better and co-create value with them. Finally the challenges in bringing about Innovation, which is very essential as it enables to be successful.

Among the external factors that may impact their organizations in the next few years to come, CEOs rank technology first (71%), ahead from people and talents (69%). Socio-economic factors, environment, globalization lag behind.

Technology Challenges of today….

Today’s leaders also have to deal with many challenges on the technology front. Emerging new technologies like social media, mobility, big data etc. are making a huge impact on business. This not only requires CEOs to hone up their skills in these areas, but also demands a complete reorientation of the process of planning and decision-making.

Understanding the complete disruption that technology is causing across various dimensions of business and the demands for a greater immersion in the threats and opportunities that technology is presenting to their business models and leadership are very vital factors. Social media, big data, mobile device dominance and cloud are only part of the story.

What leaders can do?

Leaders are required to be agile and adaptable in their management approach and work around the challenges keeping in mind the long term business growth of their organizations. Most Indian CEOs are seen negotiating the challenges and creating value by focusing on the following three areas (PWC’s annual CEO Survey): Targeting specific pockets of business opportunities, concentrating on understanding customer needs & innovating around them and improving operational effectiveness smartly, cutting costs without cutting value.

Advertisements

The key to success in this era of permanent change are Customer Obsession and able leadership. No matter what their business agenda requires them to do, modern day CEOs have to constantly focus on combating the threats that are coming from all directions.  Today’s highly competitive market environment requires business leaders to be extremely smart in their strategizing and planning, else they would find it tough to survive.

What is to be seen in the coming days among leaders is to act on creating a road map from just analyzing concerns to real action to combat all the emerging challenges!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Google Boots Out 3 Immensely Popular Android Apps from Play Store: Questions About Content Policing Resurface

With such a flourishing wilderness of Android apps on the Google Play Store, there is every likelihood...

Reliance Future Group Deal In The Soup: SIAC Orders To Put The Deal On Hold

When Reliance agreed to acquire Future Group for $3.4 billion, recently, the share of Reliance Industries Limited rallied on the stock market....

Can Facebook Be Trusted For Newly Announced Hosting and Shopping Services?

Every coin has two sides. For Facebook Inc. (NASDAQ:FB), the positive side says that it has launched interesting, new features to further...

When the Going Gets Tough, the Tough Gather Online

Tech shows; we all know them, love them, and wish we could get to them. Unfortunately, that's not always possible. Or is...

Flipkart, Amazon Hurtle To Secure Their Slice in Aditya Birla Fashion

The battle conch for the festive season has already been blown. Now in a bid to take control of a new frontier,...

Jio Pages: The Indian Browser Reliance Is Betting On Now!

Looks like Reliance wants to establish Jio as a synonym of technology. After launching a fleet of Jio products in the last...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This