EY Spotlight on Business, Issue 3, 2014

Issue 3, 2014

Spotlight on Business

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What it means to be responsive

It takes no less than a responsive organization to tackle the ever-widening array of opportunities and challenges to achieve sustainable growth.

Leading organizations are embracing risk-enabled performance management from strategy through to operations. If a business owns performance, it must own risks as well. Conventional wisdom seeks to protect the business from the downside of risks; yet, true value lies in exploiting the upside of these very uncertainties.

Such a shift in the optics of risk management is part of the innovation in management thinking that needs to happen for organizations to get ahead of the curve. CFOs, as champions of financial growth, must champion innovation too along with C-suite peers.

Innovation that is insights-driven is most powerful. However, data and analytics remain as one of the most important untapped opportunities in engaging digitally empowered customers, with chief officers in sales and marketing yet to fully capture, listen and respond to customer feedback and intelligence.

Not unlike businesses, governments too must be responsive to the myriad of voices that shapes policy-making. Notwithstanding returning confidence, investors continue to call for market and regulatory reforms in Europe. In emerging markets, under-investing in urban public services as populations and economies expand is a growing concern. Meanwhile, how governments react to the OECD’s call for reform of cross-border taxation will determine a country’s attractiveness for business

No doubt, being responsive is fundamental to change and success. The question is: just how responsive?

Max Loh, EY Managing Partner, Asean and Singapore

Max Loh

Managing Partner, Asean and Singapore