Business community demands stronger action from Global Governments in 2010
Research Questions Whether Political Leaders Will Make Bold Business Decisions
Fiscal Policy and Financial Regulation are Areas Where Robust Action is Demanded
Research released by The Financial Times in the run up to the FT ArcelorMittal Boldness in Business Awards reveals that only one in three business leaders think global governments will take bold enough action in business this year. Just 36% of people questioned feel that political leaders will create an environment to encourage stronger business decisions in 2010, despite 65% of respondents wanting robust action in their respective industries. Respondents from Asia were the most optimistic across the globe, with 44% thinking business decisions will be bolder in comparison to 2009.
The survey of 489 Financial Times readers, which was conducted online to research attitudes to business strategy in 2010, also discloses that fiscal policy and financial regulation are the areas where the business community demands the most action, closely followed by combating unemployment.
In the UK specifically, fiscal policy is seen as the most important area where action is needed (22%) – and points to how significant an issue this will be at the impending UK general election. Financial regulation is still a contentious subject across the globe, with almost one in five surveyed believing this is the area that robust action is needed, proving that the issues of banker’s bonuses and maintaining the integrity of the financial sector are still high on the agenda of business leaders. Unsurprisingly, one in four US readers see combating unemployment as the most critical issue needing action this year.
Other key findings from the Boldness in Business Survey show that the failure of Cop 15 has led to ‘going green’ being perceived as less critical than ever:
- Technology (25%) and energy (24%) viewed as sectors most likely to be bold in 2010
- Despite this, only 13% view ‘going green’ as very critical for business success in 2010
- US and China held up as economies to lead world out of recession – Despite high unemployment and Obama’s low approval ratings, 41% of readers think US will be strongest economy in developed countries in 2010
- 48% think China will be the boldest developing economy, more than double the percentages for India and Brazil (19% each)
The second FT ArcelorMittal Boldness in Business Awards will take place on 25 February 2010 and celebrate the boldest and most innovative businesses and decision makers in mature and emerging markets.
Lionel Barber, editor of the Financial Times, said: “Whether businesses will take tougher action in comparison to 2009 remains to be seen, but the second FT ArcelorMittal Boldness in Business Awards will prove that despite the tough times experienced last year, being bold, entrepreneurial and responsible in their decision making has seen some tremendous success stories in the global business world.”
The 2010 awards will seek to recognise those companies and individuals that have grasped the opportunity for innovation and change, and have taken calculated risks to stand out during another tumultuous year for businesses around the world. Judges for this year’s awards are:
- Lionel Barber, Editor, Financial Times
- Lakshmi Mittal, Chairman and CEO, ArcelorMittal
- Dan Bogler, Managing Editor, Financial Times
- J Frank Brown, Dean, INSEAD
- Luke Johnson, Chairman, Risk Capital Partners and Chairman, Channel 4 Television
- Anne Méaux, President and Founder, Image Sept
- Terry Smith, Chief Executive, Tullet Prebon and Chairman, Collins Stewart
The award categories represent the critical decisions faced by businesses and individuals in 2009: Drivers of Change; Corporate Responsibility; Environment; Entrepreneurship; and Emerging Markets. There are two new categories this year – Newcomer and Person of the Year.
Winners of the FT ArcelorMittal Boldness in Business Awards will be announced at a ceremony hosted by Lionel Barber, Editor, Financial Times and Lakshmi Mittal, Chairman and CEO, ArcelorMittal at a central London location. Entrepreneur and media guru Peter Bazalgette will be the guest speaker.
The Financial Times will publish a bespoke magazine and micro-site containing news and results from the event following the awards ceremony.
Source: Financial Times