Market shifts worry CEOs

18:42, Nov 19 2012

The biggest concern for New Zealand's private sector chief executives is their rapidly shifting markets, but they are not necessarily looking to technology for the answers, says a new survey of business leaders.

The New Normal survey, just published by law firm Kensington Swan and Auckland University's business school, measured the top-rated issues and challenges of 265 chief executives, including 135 respondents from the private sector.

While more than a third of private chief executives rated market shifts inside their top "three to five challenges or risks", public sector and not-for-profit sector chiefs were more worried about changes in the overall economic climate.

Private chief executives were aware the pace of change in many markets - such as media, publishing, accounting services and retail sales - was increasing and their businesses needed to be agile to maintain their revenues, said The New Normal report's authors.

At the same time social changes meant the importance of environmental issues, social responsibility and awareness of health issues was growing.

Overall, respondents were aware that "different business models need consideration", while one said the company's customers had changed from "a number of middle/high-end retailers worldwide to international chains who want a very different product range and significantly reduced prices". Fairfax NZ


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