With stagnant demand across many developed economies and increasing uncertainty in emerging markets, CEOs are under pressure to execute an effective growth strategy.
The latest in operational and digital transformation through people.
Today signifies a major milestone in Alexander Proudfoot's storied history -- it marks the 70-year anniversary of the company's existence.
Let's face it, 2016 doesn't look any easier. With the stock market in turmoil and oil prices plummeting, it is safe to assume global CEOs in almost every industry will face a daunting combination of external fiscal pressures, competitive forces, misguided strategies, ineffective business plans and lackluster improvement efforts. In the aftermath of this perfect storm, companies will struggle to reach their goals.
Results from our organization assessment survey show a downward trend in the effectiveness of self-driven corporate change programs, internal training and general management capabilities. Upon further investigation of the 5,171 global responses we received from both managers and employees, it became apparent that the root cause was the inability to institutionalize behaviors that would bring about lasting change.
In the aftermath of a high-profile corporate crisis, it is a foregone conclusion that chief executives must respond quickly to avoid further backlash. However, according to the HBR article Strategy: How to Live with Risks, a recent survey shows 60% of corporate strategy officers said that their company's decision-making process is too slow and that 91% of these companies plan to reprioritize risk management in the next three years. So what can senior executives do to prepare, or better yet avoid a highly combustible situation?
According to The Economist, if there is a harsh lesson to be learned from China’s recent panic it’s that the rest of the world needs to raise its level of productivity. Long gone are the days where relentless Chinese expansion could be relied upon to keep the global economy moving, and despite external factors that promote robust productivity growth, companies continue to lose ground. If tackling productivity at the microeconomic level is the key to unlocking a nation’s true potential, then business leaders must be part of the solution.
It is estimated that meetings consume more than two days a week of an executive’s time and 15% of an organization’s collective time. It's no wonder many executives are exclaiming, "We must stop meeting like this!" to their supervisory and management teams.
Faced with the constant threat of rising costs and low margins, executives are doing everything they can to survive. Initiatives that reduce costs, maintain cash flow and eliminate debt are now focal points for companies trying to cope with the current market. In many cases, CEOs are under serious pressure to deliver targeted benefits in a relatively short amount of time.
The perception of the unique challenges faced by the consumer packaged goods (CPG) industry varies across the different continents we surveyed for our recent index. However, high costs and low margins ranked the highest among our global constituents. The following infographic ranks the top two issues by region according to the companies we surveyed in North America, Europe, Asia, South America and Africa.
After years of working capital deterioration, companies are beginning to understand the importance of working capital as it relates to sustaining day-to-day operations and stimulating growth. According to PwC's 2015 Annual Global Working Capital Survey, last year was the first significant decrease in global working capital in four years, with a 2.9% year‑on‑year improvement. This trend is also linked to an 11.3% spike in the level of cash held by companies -- the highest surplus of readily avialable funds in five years.
The issue of poor time management does not discriminate – affecting all industries and facets of a business. It can be a real eye-opener for executives when examined from a cost perspective, but it also presents a tremendous opportunity for improvement.
One of the most significant challenges facing many businesses today is the dire shortage of highly skilled workers. These shortages are reaching such alarming levels that business leaders and economic pundits believe the mismatch of supply and demand could hinder economic recovery. However, the following six steps have the potential to mitigate the effects of a skills shortage without increasing costs.
In her second installment on supply chain performance, Alexander Proudfoot Global Supply Chain Lead, Jaymie Forrest focuses on seven ways to improve working capital. They are as follows:
Recently, former President & CEO of Chevron Phillips Chemical, former President of Chevron NA Exploration & Production and current Alexander Proudfoot Advisory Board member, Ray Wilcox had the opportunity to speak at this year’s Operational Excellence in Oil and Gas Summit held in Calgary. His keynote speech “Bridging the Execution Gap” was well received by the many oil and gas executives that were in attendance.
Managers and supervisors that are too wrapped up with administrative tasks are neglecting valuable opportunities to coach and mentor employees. However, our findings show that people delegated to positions of authority often do not have the skills necessary to be competent leaders in the first place.
In a recent interview with several c-level executives, we had the opportunity to discuss how to bridge the gap that often exists between a company’s best demonstrated performance and its true potential.
An Enterprise Resource Planning (ERP) system impacts every facet of a business -- from accounting and finance to sales and marketing. There is not apersonor process that does not feel the effects of a newly installed ERP system.
Energy can be a huge source of savings, or a financial burden depending on how a business is run. There are many variables that determine how energy efficient an organization can be. Is there an energy policy in place? Is energy use and planning discussed in meetings? What percentage of the operating budget is energy? These are all questions executives can use to self-evaluate their organization.