Execs lack 'vision for the future'
GD and BG, take note.
Execs lack 'vision for the future'
Friday Apr 7 00:02 AEST
Australian executives are lacking clear strategies and a vision for the future, with government organisations containing the worst of the bunch, a new study has found.
The Australian Business Leadership survey of 2,376 senior executives found many leaders were only focused on creating short-term strategies.
According to the survey, more future-focused leaders are in building construction, banking and finance, and manufacturing, while the least-innovative are in government-associated organisations and some larger corporations.
While many leaders recognised the importance of innovation, most were not putting time and resources into it, The Australian Institute of Management chief executive Susan Heron said.
"The structure of the corporate environment is that they have to deliver results here and now, which comes at the expense of the vision of the future," she said.
Despite the lack of vision, the survey, the third in a five year series, showed that businesses were more competitive and executives were more educated.
Professor James Sarros, from the Department of Management at Monash University, said Australia had some way to go in embracing a successful enterprise culture.
"This has some serious implications, because it is vision and strategy that determines the long-term investment and resources that are needed to sustain competitiveness."
The executives surveyed were from different parts of Australia, and were required to participate in both written tests and interviews.
The survey was conducted by the Australian Institute of Management and the Department of Management at Monash University.