Against this backdrop, it’s little wonder that business transformation is high on the agenda of companies around the world, according to the survey. Some 45% of large companies researched across the G20 are currently undergoing a business transformation. In fact, nine
of the top ten countries with organisations which are either currently considering or are starting a business transformation over the next 12 months were also countries that scored above average for resilience. These include Japan, India, Indonesia, Brazil, Saudi, South Africa, the US, Mexico, and the UK.
The top three reasons for engaging in transformation activities are to reduce cost, take advantage of technology or move into new markers. Some 45% are seeking to reduce costs, which could be seen as a more defensive approach to transformation. On the other hand, 44% are transforming their business because they see an opportunity to leverage technological advancement, which is more future orientated. 39% feel they’ll undertake a business transformation to expand into other markets.Resilience Barometer 2019 (373 downloads)