Research undertaken by the Society for Executive Wisdom during the first quarter of 2011 collated the results of what Australian organisations felt would be their greatest business challenges for the financial year July 2011 – June 2012.

Here is a snapshot of the results in order of magnitude:

1. Cost-cutting strategies to maintain profitability – 38%
2. Faster financial growth – 35%
3. Government threats through policy and taxation – 29%
4. International competition caused by weaker Australian government regulations – 27%
5. Low-cost competition via internet – 26%
6. Competitor threats to market share – 22%
7. Requirement to expand into new markets – 17%
8. Requirement to launch new products and services – 15%
9. Requirement to refresh senior management – 11%
10. Coping with market changes – 9%

These results were obtained by interviewing 143 business owners or CEOs of Australian-based organisations with a turnover of more than $1M p.a. and more than 5 years in operation.

• What are your top business challenges?
• How will you handle these challenges?
• What resources do you have on hand to assist you?

Business is constantly changing and evolving, especially in these globally-volatile times, currently. The organisations that have identified what specific challenges they will face, have developed strategies for these tough times, and have managed the necessary resources required, as well as eliciting guidance and mentoring from internal and external points – are the organisations that will not only survive but in fact, prosper.

Are you lighting candles or cursing the darkness?


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Ric Willmot
Improving Organisational Performance
Providing Strategy Consulting & Mentoring