To better understand the tools and approaches that directors are using to achieve the right mix of skills, backgrounds, experiences, and perspectives in the boardroom—what works, what doesn’t, and what might get in the way—we surveyed more than 2,300 directors and senior executives in 46 countries around the world. We also explored these issues through interviews with board members and business leaders from six countries for the latest edition of Global Boardroom Insights from KPMG’sAudit Committee Institutes.
Economic and Geopolitical uncertainity, transformational technology, changing demographics, new global competitors, business model disruptions - these are just a few of external forces impacting companies today. The speed of change is accelerating rapidly: in 1960 the average S&P 500 company was 60 years; today it is less than 15. The majority of the neearly 4,000 participants in the WCD foundations/HBS/Spencer Stuart Global Board Survey indicate that growth prospects globally over the next three years are uncertain.
Businesses are operating in a climate of volatility and uncertainty resulting from a broad range of factors, from Brexit and the U.S. presidential election to the unprecedented pace of technological change, disruption, geopolitical risk, and slow economic growth. In such an environment, cultivating a strong corporate culture from the top level all the way down through the organisation is key. It is a topic high on the agenda of business leaders and regulators.
Vision. Passion. Single-minded focus and dedication. There is nothing quite like the entrepreneurial spirit thatsparks the launch—and spurs the growth—of a family business. The combination of performance, profit, and familypride can be a powerful force in driving founders and owners to build great businesses and valued brands. But familybusinesses that endure across generations tend to have an added edge: a great board.
As discussed in the following pages, strong governance plays a critical role in positioning a family business for thefuture. From helping to define and calibrate the strategy, grooming future leaders, and navigating (often thorny)family dynamics, to bringing independent perspectives into the boardroom dialogue, an effective board can be aninvaluable asset to the business—i.e., the family/owners, investors, employees, and customers.
Crisis readiness has taken on increased importance and urgency for boards and management teams.
The list of potential crises that companies can find themselves facing today looms large - from major product recalls, data breaches, health scares to natural disasters, terrorist events, ailing business leaders, to name just a few. And thanks to Social Media, the speed with which news of crisis (accurate or inaccurate) can spread has been reduced to mere minutes, making the company's ability to respond qucikly and effectively to a crisis increasingly critical
The KPMG Chief Financial Officers (CFO) Forum is a platform for discussing issues of common interest to CFOs and creating an avenue for CFOs to interact as a group with relevant government regulators and policy makers. The Annual CFO Outlook Survey is one of our levers for achieving this objective.
The Nigerian economy has been adversely affected by external shocks, in particular, a fall in the global price of crude oil, compounded by the over-reliance on crude sales as the main source of foreign exchange earnings in a highly import-dependent economy.
As we look for nascent signs of an economic recovery, we sought the views of CFOs on the outlook for their businesses in 2017, their current strategies for cost and risk management and what they believe the priorities of government should be for the creation of an enabling environment. In terms of outlook, respondents were generally less optimistic about the prospects for growth in 2017 when compared to 2016.
The 2017 Global CEO Outlook discusses how disruption has become a fact of life for CEOs and their businesses as they respond to heightened uncertainty. As they do so, most see disruption as an opportunity to transform their business model, develop new products and services, and re-shape their business so it is even more successful than it has been in the past.
KPMG’s 2017 Global CEO Outlook reveals insights from nearly 1,300 CEOs in 10 of the world’s largest economies. With continued pressure to deliver on the bottom line, CEOs are keenly focused on managing their business’ core strengths while transforming the way they create value.
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