Australian CEOs pessimistic about growth opportunities in 2014
Announcement posted by The Executive Connection (TEC) Pty Ltd 13 Feb 2014
Business leaders expect economy to remain weak throughout the year
As mining investment dwindles and commodity prices stagnate, a new research by the Australian Industry Group reveals business leaders expect economic conditions to remain weak in 2014.
It appears Australian CEOs are pessimistic about growth opportunities throughout the year.
Survey respondents indicated this year would be marginally better than last year, but they highlighted problems such as wage pressures, the exchange rate, lower customer demand and business regulations as growth hurdles.
An economic slowdown can make business leaders batten down the hatches in an effort to preserve their current market share and ride out the storm.
Is conservatism the best approach when times are hard? Or should businesses be taking advantage of cautious rivals to forge ahead with growth strategies while the competition hesitates?
Anecdotal evidence and industry figures seem to suggest that a market slump is no reason to stop marketing innovation and growth.
According to John Quelch, a professor at Harvard Business School: "Companies that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times."
Read the full article to find out how can you take advantage of Australian market conditions.