Two surveys conducted this week found that business executives in australia are slightly more positive about the extent to which the coronavirus pandemic is impacting their business than executives worldwide.
Ypo, the global leadership community, has released the results of its second covid-19 ceo survey of 3,500 ceos worldwide. As a result, 40% of respondents said coronavirus poses the biggest threat to their business, and 11% feared their business would not survive an unprecedented crisis.
And That Has Changed Rapidly Nearly
According to the ypo survey, australian ceos have said their overall business prospects haven’t been as bad as ceos around the world since early march.
Notably, the percentage australian ceos (48%) who said the overall business outlook had become significantly negative since march 1 was lower than that of global ceos (56%). Also, 15% of ceos in australia were positive, compared to 9% of ceos worldwide.
The share of ceos in australia who believe covid-19 is not a threat to their business is 6%, higher than the global equivalent of 3%. However, the percentage of australian ceos at risk of survival was 15%, higher than the global figure of 11%.
Three-quarters Of Business Executives Say They Transition Relatively
Looking at the stages of this crisis, 22% of australian ceos were still in the immediate response stage. This means they are struggling with adjustments to the covid-19 situation. However, 69% said they were at a continuity stage where they made some adjustments. Only 9% felt they were on a journey towards recovery. Regarding the shape of thpected recovery, a majority of 61% thought it would be long or u-shaped.
An adapt covid-19 survey of 217 c-level executives representing 197 organizations, including 47 of australia’s asx-200, found that business continuity plans were working.
While 61% of c-level respondents said their organization’s continuity plan was very effective, only 8% said it was ineffective. Findings from a survey conducted by the business research and advisory firm in the first two weeks of april provided further insight into australia’s business response to covid-19.