Market volatility sets new challenges for local businesses

Hay Group report highlights businesses that respond flexibly to market changes avoid becoming yet another statistic of market volatility

Sydney – 20 November, 2012 — Local business is experiencing extraordinary volatility, however rather than seeing this as a negative, global management consulting firm, Hay Group says it presents significant opportunity for organisations in Australia and New Zealand.

In the company’s annual ‘Focus’ report released today, Hay Group Pacific’s senior executives, industry experts and local business leaders, provide insight into how local organisations can combat the challenges presented by volatility and capitalise on the opportunities that result from shifts in the market.

According to Henriette Rothschild, Managing Director, Hay Group Pacific, the business landscape is challenging and volatile, however unlike a simple downturn, in times of volatility there is opportunity and an upside.

“Market volatility is not new, it has been a threat to business sustainability for decades. However today the volatile state of the market is presenting new challenges including shifts in traditional markets - from Eurozone and the US to growth markets in Asia, Africa and Latin America; the high local dollar; a slowing commodity sector and re-orientation of traditional industries such as manufacturing, retail and media to new business models, just to name a few.”

“Despite these new challenges faced by local leaders, many organisations are managing to meet the evolving needs of customers, while also effectively managing shareholder expectations. We believe the key to success in this volatility is ‘organisational agility’- the ability of businesses to accurately read and quickly respond to changes in the market”.

Download the full press release here.