Mumbai A global report on what drives business decisions was launched by CNN International Commercial (CNNIC). Almost 2,000 company leaders across 14 different countries were surveyed by B2B International of which nearly a quarter were from Asia Pacific – India, Hong Kong, Japan, Singapore and South Korea. The report reveals their motivations, fears and priorities which feature in The Business Decision Makers’ Mindset whitepaper.
With insight from C-suites, business owners, board members, executives and divisional heads, the data set derived from leaders spanning sectors including Foreign Direct Investment, Logistics and Supply Chain, Business Technology Solutions and Energy, Environment, Social and Governance, to evaluate the nuances and triggers that inform their medium to long term strategies.
The research uncovered trends in the Asia Pacific, including:
Optimism fuels growth – 78% APAC senior business decision makers (BDMs) are confident in their company’s ability to drive business revenue growth for the year ahead.
Beyond the bottom line, digital transformation is the top business priority in the next year for 83% APAC senior business decision makers. While topics around AI and digital transformation will become more important in the next year or two, cybersecurity is also high on their agenda – 82% say it is a business priority and 68% say it is the top business concern.
Sustainability is shifting from an echo to an action chamber – 62% APAC BDMs have changed or plan to exit partnerships with suppliers due to poor ESG or unethical practices.
Brand image, perception, reputation and trust are key in decision making with 8 in 10 preferring to work with partners whose values align with theirs. An emphasis on trust and values alignment can streamline the vendor decision-making process.
A global outlook is vital to APAC BDMs – 95% agree that international news is important for informing business decisions with 64% considering it ‘extremely important’ and over a third saying regularly following international news is ‘a must-have’ for making decisions in their job.
Jo Tenzer, director of audience insights at CNNIC, who commissioned and produced the report, said, “Delving into the macro and micro influences on the decision-making process and the impetus that determine an organisation’s roadmap has been fascinating. After navigating unprecedented challenges from technological shifts to managing growing expectations on sustainability, senior business decision makers are maintaining a positive mindset. Through this research, we have certainly seen a blurring of where priorities sit. AI and emerging technology continue to be a focus and now cybersecurity – which could once have been considered a concern of the IT department but encompasses reputational damage and consumer trust – is a top business priority.”
