CEOs struggle to manage change

Chief executives believe their businesses will have to go through a huge amount of change in the near future but are pessimistic about their ability to manage it, a new global study by IBM reveals.

According to the 2008 Global CEO Study of more than 1000 chief executives in 40 countries, 83% of chief executives expect substantial change in the future, up 28% from two years ago.

But when it comes to dealing with that change, chief executives are far from confident, with just over 60% saying they believe their business has the ability to manage that change.

Across the globe, chief executives say the changing nature of their own customer base is likely to be the key driver of change within their organisations.

Reflecting the skills shortage plaguing many Australian businesses, however, the 69 chief executives interviewed from here and New Zealand rated the availability of staff with appropriate skills as the single biggest factor likely to bring change to their businesses.