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Taiwan businesses prioritize swift action for profitability

Reporter TVBS News Staff
Release time:2024/03/27 16:52
Last update time:2024/03/27 16:52
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Taiwanese businesses prioritize swift action for profitability (TVBS News) Taiwan businesses prioritize swift action for profitability
Taiwanese businesses prioritize swift action for profitability (TVBS News)

TAIPEI (TVBS News) — A report released Wednesday (March 27) by PwC Taiwan reveals that despite the worst economic times being over, an increasing number of business leaders feel a sense of urgency to take swift action and make significant changes to maintain profitability.

The "2024 Taiwan Business Leadership Survey: A Turning Point for Accelerated Reinvention" compiled the results of a quantitative questionnaire survey of 212 Taiwanese business leaders, a global opinion survey of 4,702 leaders in 105 regions, and in-depth interviews with four Taiwanese business leaders.

 

Survey host Chou Chien-hung said that CEOs in Taiwan, Asia-Pacific, and globally all see inflation, overall economic instability, and geopolitical issues as short-term threats. However, Taiwanese leaders are more concerned about climate change than their global and Asia-Pacific counterparts.

Regarding sustainable business opportunities, 41% of global and 51% of Asia-Pacific leaders are willing to accept lower returns on climate-friendly investments, compared to only 29% in Taiwan, indicating that most Taiwanese industries have relatively low-profit margins.

Chou believes that competition among businesses is intensifying in an era of uncertainty, and the key to success lies in taking action to create a competitive advantage.
 

The survey shows that the proportion of business leaders who believe they need to transform within the next decade has increased. In Taiwan, 76% of business leaders believe they need to transform within the next 10 years, compared to over 50% of global CEOs and 34% in the Asia-Pacific region.

In terms of economic outlook, 38% of global business leaders believe the economy will improve in the next year, up 20% from last year.

In contrast, Taiwanese business leaders are more optimistic, with 48% believing the economy will improve.

Leaders in the technology, media, and telecommunications industries (66%) and consumer industries (63%) are more optimistic about Taiwan's economic growth this year, exceeding the overall level in Taiwan (57%).

Taiwan Business

#Taiwan business leaders# economic outlook# climate change# competitive advantage# business transformation# sustainable business opportunities# global economic instability# Taiwanese industries low-profit margins# business leaders sense of urgency
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