Advance Australia prepare:
how to make Australian
businesses future-ready
The Future-Ready Business Benchmark, developed by Economist Impact and supported by Cognizant, gauges how prepared Australian businesses are for the future across technology, talent, ESG and firm fundamentals.
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External environment (ranked 7th):
Australia's stable economy and business climate provide a favourable backdrop for business development; however, greater targeted IT investments and labour productivity enhancements are required to drive future readiness
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Business preparedness (ranked 6th):
Businesses are reasonably prepared in terms of their ESG objectives—especially with regard to inclusion and ethics—and they have robust talent development processes, but lack in skills matching and driving well-targeted tech advancement plans that can improve productivity
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Progress towards the frontier (ranked 8th):
Covid accelerated Australia's digitalisation but greater value can be realised by linking technology adoption to clear business goals; similarly, ESG goals are being acted upon but the scope for further action is tremendous with the greater adoption of renewables
External environment
Business preparedness
Progress towards
the frontier
the frontier
Supported by
Whitepaper
Advance Australia prepare:
how to make Australian
businesses future-ready
Advance Australia prepare: how to make Australian businesses future-ready is a report aimed at providing a quantifiable and comparative assessment of the future-readiness of Australia’s business environment and multinational companies compared with nine of the world’s biggest economies. The report’s findings are based on three interrelated research efforts, namely a literature review, benchmark analysis, and in-depth consultation with expert sources, which provide considerations for firms to become future-ready.
Technology
Talent
ESG
Firm fundamentals
The Future-Ready business
Benchmark tool
The Future-Ready Business Benchmark, developed by Economist Impact and supported by Cognizant, gauges how prepared multinational businesses are for the future in ten countries and eight industries.
Powered by over 25 sources of data, including a 2022 survey of 2,000 executives, it comprises 140 indicators scored on a 0-100 scale, categorised across: external environment, business preparedness and business performance.
Powered by over 25 sources of data, including a 2022 survey of 2,000 executives, it comprises 140 indicators scored on a 0-100 scale, categorised across: external environment, business preparedness and business performance.
Articles
Industry cuts
Industry-specific briefings on mining, insurance, and banking and financial services provide a deep dive into the challenges, successes and opportunities the industries present in Australia.
Industry cuts
Mining
Future-readiness of Australian mining: the need to transform at unprecedented speed and massive scale
Learn more
Industry cuts
Insurance
Future-readiness of Australian insurance: gearing up for greater uncertainty
Learn more
Industry cuts
Banking
Future-readiness of Australian banking and finance: innovation is the key to sustainable transformation
Learn more
Webinar
Advance Australia prepare: how to make
Australian businesses future-ready
October 11th 2022, 10am AEST
Australia ranks seventh out of ten of the world’s biggest economies when it comes to future-readiness, and digging deeper into the results unearths concerns. Australian companies face a gulf between corporate strategy and implementation that delivers meaningful results. They have often done well in executing digital strategy but struggle to derive value from it. The lack of focus on outcomes in digital strategies is holding companies back and hindering improvements in productivity.
Speaker
Jane Livesey
Chief executive, Australia and New Zealand,
Cognizant
Cognizant
Speaker
Michael Rosemann
Professor,
Queensland University of Technology
Queensland University of Technology
Speaker
Rebecca Jinks
Director, ESG and Sustainability,
Taronga Ventures
Taronga Ventures
Moderator
Elizabeth Mackie
Senior manager, trade,
Economist Impact
Economist Impact
How Australian businesses can unlock digital value to become future-fit
Australian businesses have made ample investment in digital technologies. Now it’s time to use technology to transform business and deliver value.
Economic and ESG goals come together in Triple Zero Modern Mining
It is a “best of times, worst of times” era for the Australian and global mining sector. The sector finds itself in the crosshairs of climate debates.
Experiences and intelligence: driving a new era for the insurance industry
The ANZ insurance industry is changing fast. To thrive in the new ecosystem-led environment that is emerging, insurers must understand what it means to become a truly modern carrier. No longer can the industry operate as traditional standalone risk operators.
Embracing the ecosystem opportunity of open banking
Australia’s new Open Banking regulatory environment is one of the fundamental forces defining the future of the industry. Every financial institution must be well prepared for a customer-centric future in order to thrive in the years to come.
Put ESG strategy into action
Commitments are not enough. Your stakeholders demand real progress.
