Asia-Pacific executives struggle with regenerative business shift: Kearney report
A recent survey by global consultancy Kearney reveals that nearly half of Asia-Pacific-based executives feel their current business transformations are not proving effective.
The study, which included 800 C-suite leaders from around the world, shows that while businesses have evolved from focusing on resilience during the Covid-19 pandemic towards a regenerative approach, only 51% are successfully implementing this strategy.
The term regenerative business refers to the integration of advanced analytics and new digital models while ensuring a sustainable supply chain and people models for both business and society. The strategy focuses on adding value back into society and the broader world, rather than simply optimising for efficiency.
The survey found that 99% of business leaders in the region believe becoming a regenerative business is crucial. While 51% of Asia-Pacific leaders indicated their companies are already operating in a regenerative way, which is higher than the global average of 44%, there is still plenty of room for improvement.
Kearney’s report discovered differing attitudes within the C-suite. While 55% of Asia-Pacific CEOs believe their businesses are operating regeneratively very effectively, 41% feel there is significant progress yet to be made. Chief operating officers in the region were less optimistic, with only 48% stating they are operating regeneratively to a very effective degree.
The survey suggests that the majority of C-suites in the Asia-Pacific region are adopting leadership styles that support regenerative businesses, with 49% of CEOs saying they are operating with regenerative leadership very effectively.
Arjun Sethi, partner and Asia-Pacific regional chair at Kearney commented on the findings.
“The results of our survey make it clear that businesses in the region want to shift from a merely resilient strategy to a fully regenerative one that is more transformative at its core.”
Sethi also emphasised the importance of businesses not losing sight of their ultimate goal whilst on their journey towards becoming regenerative.
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