July 06, 2010
Executives from some of Britain’s leading companies believe their businesses lack the right skills and experience to survive the current financial climate.
According to a survey of more than 800 board-level managers across the UK, and other cities around world, just 5% are comfortable that their business has the right attributes to maintain turnover since the recession.
Of those in disagreement, 95% claimed they did not have the right internal resources to meet current and future challenges. As the lasting effects of the economy’s downturn continue to sting, a paltry 2% said their business had “customer focus” to survive.
"The ongoing crisis appears to have quite severely shaken the confidence of many business leaders, who are questioning whether they have the internal skills and capabilities to adjust to a new world order," said Andrew Roscoe, Managing Partner of headhunting company and researcher, Egon Zehnder.
Worryingly, nearly 70% of executives do not believe there is sufficient leadership potential in skills such as the ability to drive change, drive customer focus, basic business competencies or innovation skills to survive.
But, with the coalition government pledging to tackle budget deficit while maintaining growth and support for the nation’s businesses, the fear displayed by those surveyed has been attributed to a confusion over which way the country will develop over the coming years.
Currently, the continuing financial crisis and all its baggage are damaging business confidence. If you believe your company may be heading out to sea, or need to discuss finances, redundancies, or any other issue, seek advice as soon as possible.
