SINGAPORE, March 25, 2014 /PRNewswire/ -- More than half of local Singapore companies operating in the highly competitive Asia region are experiencing growth -- and have achieved financial success over the last three years. According to a new Telstra Global survey released today, 60 per cent of Singapore companies have successfully achieved both their financial and strategic objectives during that time.
The survey also found that the outlook for the future is bright in Asia -- with 43 per cent of Singapore companies expecting to exceed their financial and strategic objectives in the region over the next three years. They also admire their leaders with 75 per cent of Singapore businesses viewing their global leadership team as effective.
Telstra Global Managing Director, Mr Martijn Blanken said, "Multinationals from around the world are meeting and exceeding their strategic and financial objectives in Asia. As a company with a long track record of operating successfully throughout Asia, we launched Connecting Countries research to quantify the business sentiments of multinationals operating in the region, and to ascertain the attributes and success factors of companies that are excelling in the region."
The first in an annual series, Connecting Countries research is commissioned to benchmark the mind-set and strategies of high performing international companies in Asia.
"Singapore is an enduringly attractive location for international expatriate executives, with 39 per cent of workers in Singapore-headquartered companies saying that they will still be working in Singapore in five years," said Mr Blanken. "However, 29 per cent of Singapore companies say that finding good local talent is extremely challenging."
The research identifies a superior category of top performing companies in Asia, termed Asia Business Champions in the report, and categorised as such based on having far exceeded their financial and strategic objectives in the last three years, and their expectation to succeed again in the coming three years. Asia Business Champions comprise top 5 per cent of overall companies in Asia.
"On a global level, the ICT industry is a standout in Asia, with more than 70 per cent of these companies having been very successful in Asia in the past three years, compared to 61 per cent of companies across other sectors," said Mr Blanken. "Over the next three years both financial services and insurance companies and those in the ICT sector are most bullish about exceeding their objectives in Asia, with 55 and 51 per cent respectively, compared to 42 per cent overall."
"Besides the promising market conditions, successful companies in Asia have the necessary foundations -- strong leadership and communication across global headquarters and local offices, combined with a long term view and investment strategy," concluded Mr Blanken.
The Telstra Global Connecting Countries report also revealed:
Market Expansion
Profile of High Performing Companies in Asia:
Designed to provide insights into the business performance of organisations operating throughout Asia, the Telstra Global report, entitled "Connecting Countries" interviewed more than 4,100 executives and managers with national or multinational company experience working in Asia. These companies were headquartered in more than 20 countries/regions around the world, including the United States, United Kingdom, Germany, Australia, mainland China, Japan, India, Hong Kong, Singapore and Indonesia.
Find out more and download the Connecting Countries report: http://www.telstraglobal.com/connectingcountries
Research Methodology
This survey was commissioned by Telstra Global and interviewed 4,155 senior executives in mainland China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Vietnam with professional experience working and studying in a country/region other than the one they are currently working in. Interviews for this study were conducted online and executives were drawn from databases of business professionals held by market research firm GMI. Additional interviewees were recruited through targeted outreach on LinkedIn and through other professional networks. Interviewees were incentivised with a US$2 donation to their choice of the Red Cross/Red Crescent, WWF or UNICEF. In addition 12 in-depth interviews were conducted with C-level executives in leadership positions with significant professional experience operating across multiple countries. These interviews lasted 75 minutes and were conducted in Beijing, Hong Kong, Singapore and Jakarta.