Business Challenge Main Report- EY Turn Risks and Opportunities in to Results

8/4/2019 Business Challenge Main Report- EY Turn Risks and Opportunities in to Results

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2/60

CottsItrouto 1

Exutv sury 3

Prt 1: rss 6

Est u usss s 7

Est u s t 7

T t 10 ss 8

1 Rut 8

2 Cst utt 10

3 tt 12

4 P ssu 14

5 E ts 16

6 t ss 18

7 Exs vts 208 Sw vy/u- ss 22

S t s/CSR 24

10 ss t t 26

Prt 2: oortuts 28

Est u tuty 2

Est u tuty t 2

T t 10 tuts 30

1 Iv xut stty ss usss uts 30

2 Ivst ss, ts t t v t utvty 32

3 Ivst IT 34

4 Ivt uts, svs ts 36

5 E t wt 38

6 Ivst t 40

7 Ex vst ts 42

8 Nw t s 44

s usts 46

10 Puvt ts 48

Mtoooy 50

x 52Rss w t 53

E tuts 53


3/60

Exor t to 10 rss oortuts 1

Itrouto

W s tus t t t usss , tt s

ust s t tu. t vtty, ssu, vts t

, sts v tut t y tt

us ttv v. wt tt v s tuty. F tt s,w v t s wt s tty u Busss Rs t t

t t ss tuts.

I ts t, w x t t 10 usss ss tuts

u stuy. s vus ys, w v t tt-u t u w,

t s usty-s tts, ss

sv st us.

AfY\\alagf$^gjl`]jkllae]$làkq]Yjo]`Yn][gf\m[l]\Yk][gf\oYn]g^j]k]Yj[ &

Ts s -s suvy s vts 15 uts

t t ss tuts, t sts wt ts s

wu ss tt 2013, sv w zts

t sv sts s t ts s.

u s susts tt ut tus t t st

v s. I t, u ut t sv sts w suvy ts s u

gf]&9[jgkkYddk][lgjk$Zgl`[gkl[mllaf_Yf\hja[af_hj]kkmj]jgk]ka_fa[Yfldqmhl`]

, tu y sts t sts t t tt ts ss v

sy tv.

Wt t tuts, v xut stty ss usss uts

ws u v. ss t sts, t t ts

tuty s uy ss. Ivst sss, ts t t

v t utvty ws s v. Hwv, vu sts

uts vy wy t tv t ty v t ts tuty. E

eYjc]l\]eYf\_jgolèa_`l Yn]Z]]f]ph][l]\lgjYfcà_`dqZmlaf^Y[l[Ye]^l`

afl`]_dgZYdjYfcaf_kYf\$Ydl`gm_`Ylghn]ghhgjlmfalq^gjl`]gadYf\_YkYf\da ]ss sts, y t uts sts, t s vw s u ss

ka_fa[Yflghhgjlmfalq&

T t 10s t sut uttv, -t ss, s t

ty t y ss tuts ussss 2011 y. Hwv,

o]j][g_far]l`Yll`]\]falagfg^jakckYf\ghhgjlmfala]knYja]k^jgek][lgjlgk][lgj

Yf\^jgejelgje$\]h]f\af_gfY[gehYfqkgZb][lan]kYf\eYfqgl ]j^Y[lgjk&O]

t t st w t t, w w wu t x ut.

t ts t sts s t ts yu t? ty yu t 10?

Hv u sts ss yt t?


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2222 Exor t to 10 rss oortuts2 Exor t to 10 rss oortuts


5/60

333Exor t to 10 rss oortuts 3

Exutv

suryW rst trvw o or t 75 stor

ottors to ty t strt s

orztos sv stors bot toy 2013. W

t survy or t 700 orztos 15

outrs to sovr ow os ovrts

rv r rss t rss oortuts

tt wr t or so ss r stru to

rss ts s.

T to 10 rss oortuts rt ross t

sv stors r rst o t xt s s r

by our survy rsots o wt s ro st

yr t outoo towr 2013.


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, P or rowt E t w 4 Exor t to 10 rss oortuts

1. Ruto o. U u

t 2010 t.I u ut sv sts w suvy, ut

[gehdaYf[]jakckjYfcjkl&>mjl`]jegj]$l`]logk][lgjk

tt t t t st s s vs s st ut

y 2013. (Fst 2013: t ut

.)

2. Cost utt. U u s t 2010 t.

u t ssu v t s st utt s

t t vt ustty s. T

st uty t tt stty s ss

tzt. (Fst 2013: t ut

.)

3. M tt. U t 2010 t.

O`ad]f]n]jjkl$afYdegklYddk][lgjk`meYfj]kgmj[]kjakck

t t u s. y t s

w t s s tu ts.

(Fst 2013: s t ut .)

4. Pr rssur. U 11 s t 2010 t (w t

oYkZ]dgol`]jY\Yjaf^l]]fl`hdY[]!&

zts y sts tu ts

sw wt ts, tus ssu s.

ty, st utt, t ustty s

s t v ts s. (Fst 2013:

t ut .)

5. Er toos. U t s t 2010 t.

L`]egkl^j]im]fldqj]hgjl]\\jan]jkg^l`akjakcYj]\a^[mdla]k

v vt utu utts t

utst ts. (Fst 2013: s t

ut .)

6. Mrt rss. Nw ts y.

t ss w tt t t , ssussu s ty ss stt t

vtty. tt stts s tv t

st uty t. (Fst 2013: s t

ut .)

7. Exso o ovrt s ro. Nw ts y.

t w tt t t , x vt

s t t u s sts t

ws tw st s, t US C. (Fst

2013: s t ut .)

8. Sow rovry/oub- rsso.


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1. Irov xuto o strty ross busss

utos. T st uty t sussu ss

t ts tuty s t stt ut.

Rsts t C y t sz

t vt t stt ut s y

t suss. (Fst 2013: t ut

.)

2. Ivst ross toos tr to v rtr

routvty. T sts vy t t w st

tzt st vt sz s

utvty. v, t u stt

sts t t tst s t utvty

vts. (Fst 2013: s t ut

.)

3. Ivst IT. ss Eu t US, vst

IT s tyy t t t s-st ty

xutvs. I C, Russ, I, wv, IT ts t

t w t st. (Fst 2013: t

ut .)

4. Iovt routs srvs ortos.

J]khgf\]flka\]fla]\^gmjc]qZYjja]jklgaffgnYlagf

suss: us vstt, xssv svts,

dY[cg^km^[a]fl]ph]jlak]Yf\af]paZadalq&Da^]k[a]f[]kjek

t wy t vt t stty.

(Fst 2013: s t ut .)

5. Er rt rowt.f]afn]gj_YfarYlagfk

suvy t s s, w sts

t. It ust xtts y

-t tts. (Fst 2013: s t

ut .)

6. Ivst t. T tuty t ts

t vy zts uty st.

Rsts C w t st y t s t

t t t utus stts t tz

t ys. (Fst 2013: s t

ut .)

7. Ex vstor rtos. tu t t u

stt ttv y st, w

utts sts v tu ty t vstts. (Fst 2013: s t ut .)

8. Nw rt s. Nw t s u

s , w 2.0, , t, s

s. Ts s ty tst t xutvs

t US, C Russ. (Fst 2013: s t

ut .)

9. Mrrs ustos. x s t st

uty t v st t suss ,

w t s t t w ts s t stt

st uty usu v ust. (Fst 2013:

s t ut .)

10. Pub-rvt rtrs. Is vt

tvt ts s t y u s ,

ut s u tuty . Ts ws u t t

ka_fa[Yflafl]j]kl^jgej]khgf\]flkafl`]`]Ydl`[Yj]k][lgj&

(Fst 2013: s t ut .)

Te top 10 opportunities

T t 10 tuts 2011 , :


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Prt 1:

rss



9/60

7

T s t sts tt vw t t ss,

t t ut t t t xutvs w suvy

v v t s tt stts.

T ss t u-t ts tst

. Rsts v, v, t ts s v

tvy t t zt. t t s t,

sts tvy y t t tt t

s t sus ssy t ts ss

tvy, ut tt ts sus v t yt t.

W t t ss ts t s t wys s

gfklYlakla[Yddqka_fa[Yfl\a^^]j]f[]kafj]khgfk]k$l`]eYhZq

t t ut s tt ts vs tt

vw t ss tt y st tt. Ts vw ts

st utt tt s tu .

Exs vt's

tt

Cst uttRut

Pssu

Ets

St/CSR

ss tt

tss

Swvy u-ss

Perceivedriskimpact

Rs tto surs but ot yt t

u s s s v tt ws us t st

sst t t 10 ss ss t sv sts w v.

T ss t t t t ts tt t

t 700 xutvs w tvw, v, tut s

t tst t t zt t ys .

ws t wt t xutvs tut t s wu

s t y 2013.

T s v t u sts tt s t t

Est u Rs Uvs . C tts

t ts, w, ut t v.

F tts st vtty ts t y. Stt tts t t usts, tts

vsts. Fy, t tts t t sss,

systs, v vu usss.

Fin

ancia

lCom

plia

nce

i tt

Sw rvry rub-i rssi

Prii rssur Cst utti

Si t ris rrt

si rssibiity

xsi vrts r

ritis

Ruti i

Operati

ons

ss t rit

rt riss

Strate

gic

Prit risv i 2013- y t sybs

Mor

S

Lss

To 10 ob busss rss

Erst & ou Stor Rs Rr

Erst & ou Rs Ht M



10/60

8 Exor t to 10 rss oortuts

1. Reution n copince

Rut ss t st sus v

l`j]Yllg_dgZYdjekYf\l`mkYhh]YjYll`][]fl]jg^l`]jY\Yj&

Ts ws s t s 2010. I 200, ss sst wt t

_dgZYd[j]\al[jmf[`lggcl`]jklhgkalagf&

Ris outoo n ipct

Rut ss tst tZYfcaf_Yf\da^]k[a]f[]kjek$Yf\g^d]Ykl[gf[]jflgj]lYad$Zml

vy st, ut s t t

u ss. I t, u ut t sv sts w suvy,

j]_mdYlagfYf\[gehdaYf[]jakckjYfcjkl&Làkmfa^gjealqak

h]j`Yhkkmjhjakaf_$_an]fl`Ylk][lgjkh][a[hj]kkmj]kYj]l`]

st uty t v ts s.

t 2013, t ss t

sts ts s st ty s ss ts

tu t s t ys . Ts vw s wt

ts t sts w tvw: Nw uts

v t t s ts tuy

ts wt t t t s. It w

af[j]Ykaf_dq\a^[mdl^gjZYfcklg_]f]jYl]l`]J=k]ph][l]\

y vsts, t ws CR. Hwv, t

sts, u s w utts, t t

ut ss s xt t s 2013

s.

v, sts st ts u

C, I, Russ t Est/Nt (EN)

t tt t t ut

ss s xt t s y 2013. Ts y ttut

t vt ts uts tt s u

stty uty s.

I, uty ss ty tst t

US, w t s tvw t xty

v t ut ss; ut,

ty xt s vs t s ut y 2013.

Ris itition strteies

Gv tt ut s t u-

jYl]\jakc gj^gmjg^l`]n]q]Yjkafoà[ò]`Yn][gf\m[l]\

u stuy, t s usus tt s vts

w , tvy s t, t tt. t 60%

zts suvy t tt ty v t

sus t ss ts ss.

Afl`]ZYfcaf_k][lgj$[gehYfa]kYj]hYjla[mdYjdq[gf\]flaf

t , wt t 70% t tt st s

t ut s tv ss t tt. (Ts

Drivers o reution n copince riss, s reporte byorniztions surveye

R by ruy o to

R* v

1 K][lgjkh][a[j]_mdYlgjqhj]kkmj]k

2 Nw st

3 G t tw uty tt

4 R s ut

5 Rs CSR ssus

6 Ct w uty vst s

7 Rut v y u ssu

* Bse on 492 responses ro our ob uti-sector survey. Rn orer y

fglj]][lklYlakla[Yddqka_fa[Yfl\a^^]j]f[]kafYdd[Yk]k&Mf[dYkkaYZd]'j]^mk]\

responses not shown

S YZ T S T S S

ustri Brzi Ci Fr Gry Ii Ity Ntrsi st/ N. ri P Russi Sut ri Sw U US

S

vr

YZYZ

YZ

T T S T S S T S T S S YZ S

Reution n copince

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013t t "0-5"

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

T to 10 rss


11/60


s s usus, us , t

t s t ut s w uts .)

Hwv, s t sts w tvw w ss

tst. R t us t s w t uy

uts s s t u s t st,

vs Psu, N-Exutv t t U Tsuys

ut Rs Ctt t, It s t t ut

t tt ts sty, ut w ss t, t

s y y tt w w u wt u t ut t

u sty.

I t sts, ut ss t t

s, vst vt ts s t st

uty t s tt stts. I t

hgo]jYf\mladala]k$jekYhh]Yjegj]dac]dqlgj]hgjll`Ylf]o

st ts tw uty tt

c]q[`Ydd]f_]k&AfgadYf\_Yk$hgo]jYf\mladala]kYf\j]lYad$jek

t t t tt t ut t s su

YkKJakeYcaf_l`akjakc\a^[mdllgY\\j]kk&>gjafklYf[]$af

w utts, tt uty tts t

t t s sut y ssus

vt t suty y stutu.

ss t s, zts Russ,

Ko]\]fYf\9mkljYdaYYj]hYjla[mdYjdqdac]dqlgZ][gf\]flaf

l`]ajYZadalqlgeYfY_]l`akjakc$Yf\jekZYk]\afgdYf\Yj]l`]d]Ykl[gf\]flgfdqg^j]khgf\]flk^jgegdYf\j]hgjl

tt t ut s tt sus tv). T

s y s P u s t t

vut uty sts sst wt EU ty.

I, sts P tuy y t t

tt ty s sst wt t w st

y uty tt. (zts

Gy F s y t t tt w

st s tu .)

T stt s t vt ts

uts s t v y ty sts

y s v. Hwv, sts C tuy y t t w ss t

sus usts t ut

ts.

Fctors ititin reution n copince riss, sreporte by orniztions surveye

R by ruy o to

R* tt t

1 t s v CR ut

2 Ivstt vt ts ty

3 Ctuus ut ut

4 Ivstt IT t sut

5 Cty tt w uts

6 Nw us t y ssus

7 Exs us t xt ts/sus/usts



responses not shown

ot swr7

rss rs vrs tuto59

rss rs usxtrrs/ost

ro3

C byxso/s

ruto10

C byk][lgj%kh][a[rutory ssus10

C byw sto/ubrssur11

Orniztions' responses to reution n

copince ris


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2. Cost cuttin

t tw ys s t sxt s, t s sst wt

st t v s t s t . u s t

s susts ts s tt s t wt: v, u

suvy sts t tt t t t s s ,

yt tvy u s t tt sus t

s st ss t zts.

Ris outoo n ipct

vw u suvy suts susts tt t s ts s

t s st s v y vts t u st

Ydl`gm_`[gklafYlagflja__]j]\Zql`]j][]fljak]af[geeg\alq

s suy s ys ).

Gvt st sts, wt t ustty

sus, v ss ts s t st v t

y s ss t sts. Ts tvy xt ssu t

ut sts t u st s tu t t sts

o`]j]j]_mdYlagf`YkYkljgf_afm]f[]gfhja[af_fglYZdq`]Ydl`

[Yj]$o`]j]l`]jakcjYfckjkl$Yf\hgo]jYf\mladala]k$o`]j]l`]

s s s. T t w

utts t ttut t vt ts t st

t. T s ty s (tu ty)

t ty y v ... w s sts ty,

w tt t vst tt w v t wt t

v t uv t t , t us

E. Hu, sst Pss t t Cy Busss S

s Hs Uvsty.

By tst, xutvs v w ty t s

t t st utt t y t st, v tu

t ssus t t ut st u t wtu w

t s st uty t v ts s su

hj]kkmj]k`Yn]Z]]fY[ml]affYf[aYdafklalmlagfkl`Ylo]j]

hjgna\]\oal`hmZda[kmhhgjl\mjaf_l`]fYf[aYd[jakak&

I t t u st s u t st utt

ssu, t s tt t s w st utt

s tst ts tt st xs t t

sv t ss: ty t U, F, Ity Gy.

(I, Ptu, G S t v u

suvy.) s t sts w tvw, w Ns,

t Gv vt t tMfan]jkalqg^ajeaf_`Ye$hmlal$9^mjl`]jka_fa[Yflogjk]faf_

afl`]k[Ydgmldggc Y[af_]al`]jl`]MKgj=mjgh]gjZgl`ogmd\

^gj[]Yfgl`]jjYf_]g^k[Yd[mlZY[ck&

Tu t t ut 2013, sts st sts

xt s sst wt st utt t

t s 2013 s. ( tvy xt xt

s , w ts s xt t s y

ty.) Ts xtts swt t s wt

sts t sts w tvw tt s

sst wt t u t t sts w

tu t w v t xt w ys.

ustri Brzi Ci Fr Gry Ii Ity Ntrsi st/ N. ri P Russi Sut ri Sw U USvr

Cost cuttin

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

S T YZ T YZ T YZ

S T T S S T T T T YZ T T S T S

T

T

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Drivers o cost cuttin riss, s reporte by orniztionssurveye

R by ruy o to

R* v

1 D]_akdYlagfj]klja[laf_]paZadalqlg[ml[gklk

2 Pt ssu zt w s uts


fglj]][lklYlakla[Yddqka_fa[Yfl\a^^]j]f[]kafYdd[Yk]k&Mf[dYkkaYZd]'j]^mk]\responses not shown


13/60



I t t ty v t st utt ss, t s

ssu tt v 7 10 s suvy t tt t

sus ty v t t tt ts ss sy

tv. Cst utt ws st y ut y

tz sss t st ts (45%), w

13% zts u ut.

tu US Eu zts w, ,kljgf_dqhjgY[lan]afeYfY_af_[gklk$jekYf\_gn]jfe]flk

afAf\aYYf\`afYo]j]ka_fa[Yfldqd]kkdac]dqlgj]hgjl`Ynaf_

t sus t t sts, s sust

tt xutvs ts uts sty us

wt, s ss ssu t ustty

sus. Rsts t Est w xt

sz ut sts s svs (CGS),

w s, sttv (SG) xss

t vw us st s.

It s s us tt sts t u

st st y t t tt t ts t

s t ts s yt usussu. Ts t ts tt w tvw, w s

u st st t ts tt Bus t s

f]]\]\l`]j]oaddZ]afkm^[a]fllae]lg[mlhjmf]afl`]egkl

]^[a]fleYff]j&Afkl]Y\klYf\Yj\Y[jgkkl`]ZgYj\h]j[]flY_]uts w t . zts t t

st, w s sus st utt ssus,

tuy y t sy tt sus st t st

t sts. (ss t 50% t sts

t tt tt sus v y t, st

y 70% ss.)

MSG& osts68

M COGS11

Rvsbusss o

5

Prv btyto osts tvy11

ot swr5

Fctors ititin cost cuttin riss, s reporte byorniztions surveye

R by ruy o to

R* tt t

1 Pss tzt ts

2 Rut ut

3 Rvss t ut/st ss

4 E IT/stutu

5 Stzt ut t / tzt ts

6 v xt sutts

7 Fus usss

8 =^[a]f[a]kafhjg[mj]e]flhjg[]kk]k

St sv t

10 t t wtu

11 St ut t uts

12 9\bmkle]flg Zmkaf]kkeg\]dlgj]][lf]oj]Ydala]k

* Bse on 430 responses ro our ob uti-sector survey. Rn orer yfglj]][lklYlakla[Yddqka_fa[Yfl\a^^]j]f[]kafYdd[Yk]k&Mf[dYkkaYZd]'j]^mk]\

responses not shown

Orniztions' responses to cost cuttin


14/60


3. Mnin tent

Rss sst wt t w tt tu t s

t t t sutv y. I t, tt wt

st utt, ts s ss t st us st t

t : t v v t, wt tvy

zts t tt sus t s , s

yt, w ss.

Ris outoo n ipct

T s ut s t wt ts :

st sts xt ts s t tu t st

t s 2013 s. I, t y st t

xt s t v u sus s s

s. Ts s ttut t t t tt s

jek`Yn]Z]]f_jYhhdaf_oal`làk[`Ydd]f_]^gjkge]lae]

`meYf[YhalYd\][aloYkl`]fmeZ]jgf]jakcgfl`]gadYf\

s st s 2008, ut s s , ssy

Z][Ymk]jek`Yn]hmlhjg_jYekafhdY[]lgeYfY_]l`]l`j]Yl&

Af$`go]n]j$fgk][lgjjYfc]\làkjakcjkl&L`]jakc

s t t t y vtu ssty:

oàd]f]n]jjkl$afYdegklYddk][lgjkaljYfckYegf_l`]lgh

u. Tt s s tu t t st

u stt (xsu t tt ss ts tt

k][lgjakdac]dqlgZ]`]a_`l]f]\ZqYdY[cg^]paZadalqgn]j ajaf_

ts ut). It s s wt t tt y

t s w t s s tuy

t ts: Bz, C, I Sut ,

t s t t u. Ts susts tt t u uz

vs tt Cs I ws

j]lmjfaf_lgl`]aj ge][gmflja]k`YkfglZ]]fkm^[a]fllgg ^k]l

t s s ws ts s.

I ts vs, sts t w t vy

v t t t s, .., wsss HR

sss, xt ssus, su s s tt

tt, s ss us ts s u t .

Ny 20% t tt wt t t s sts sy

fglYnYadYZd]$Y^Y[lgjl`YleYqafhYjlj]][lo]Ycf]kk]kaf

ut systs. Ts s wss tt s y t t ws:

Eut s s y vt stt . I

l`]MK$klYl]k[YdhjgZd]ekYj]Ydj]Y\q`mjlaf_l`]imYdalqg^

u uvsts, t Hvy C, C t

Fst t y F t S.


Mnin tent

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

S

S S S T S S S YZ

YZ S YZ T T T S S S S T T S S S

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Drivers o nin tent riss, s reporte byorniztions surveye

R by ruy o to

R* v

1 St s wt ssy ss

2 zt us tt

3 vt tt t sss

4 Is tt tt

5 Ntv ts w ut zts tyt ttt tt

6 Fz w utt t ty t tt



responses not shown


15/60



st t ty v t tt ss ts suvy, tv

t ts s s tvy uty t

(w uts t ss t st u t

eYh!&n]jYdd$gfdqg^j]khgf\]flko`ga\]fla]\làkjakc

s t-u t tt ty y t

sus t tt ss, wt t vt tt

t t st su t.

I , s tt stts sw tt vt

tw sts, tu t s t tt st

sts ss y t ts t sts t v

s t tt tvy, y t

sts s s wsss HR

sss.

Ny 30% sts t u st s

wsss tt t. s Gy Ftw,

t-G F Isttuts Cy

w t t Eu Css, t, ts s u y

t t vt u sts v s t

k[Yd[gfkgda\YlagfYf\mf[]jlYaflqYZgml`goem[`[YhY[alqoYkst t ss.

ss t s, w u tt zts t

ts t st y t tvy tt-

t ss. I tu, zts t C

t t wy v uvsty utt s,

sts C I (w y sts

Sw F) st y t v s

lgfmjlmj]à_`hgl]flaYdklY^^&L`]k]j]kmdlkeYqj]][l

xtts yt tu ts uts.

St, t s s t ts w tu tt

t s st t. F st, w

gn]jYdd$g^j]khgf\]flkj]hgjl]\l`Yll`]ajjekdY[c

\]n]dgh]\@Jhjg[]kk]k^gjeYfY_af_lYd]fl$làk_mj]jak]klg

40% zts t Russ P.)

ot swr

5

Itrrutt rors

13

C by o

imYda]\h]jkgff]d

18

C byrv wsss

HR rosss17

C byrutory rstrtos

2

Itstvotrors45

Fctors ititin nin tent riss, s reporte byorniztions surveye

R by ruy o to

R* tt t

1 W-v tt

2 E utu v y tt

3 Is vsty w

4 Fus y stst

5 vt y

6 t ss tuts t t w

7 Afl]fka[Ylagfg mfan]jkalqj][jmale]flhjg_jYek



responses not shown

Orniztions' responses to nin tent


16/60


4. Pricin pressure

ja[af_hj]kkmj]k`Yn]]e]j_]\^jgegmj^l`Z]dgol`]jY\Yj

tt st y t ut st t ts y. Tt

wt t t ss suss vusy, ssus

sstty s -t ss

st sts. P ssu s t t u sx ut

sv sts. (I t u stt st, us,

t s y s t y.)

Ris outoo n ipct

Ps ususy, s t vs ts s

s t ts s tw, st utt. F st, t

uty ssus tu ty t vs

ts s t y sts t t st.

=f^gj[]\hjg\m[lhja[]j]\m[lagfkaf[gmflja]koal`à_`k[Yd

\]Zlogmd\Z]\a^[mdl^gj[gehYfa]klgj]kakloal`gmldgkaf_

t t ty, t t

suty.) T s t st y t

vs ts s t uty ssu t

u u ssu.

Hwv, st sts, ssus t

ty t-v. T ss tt w

l`]fYf[aYd[jakak$Yf\l`]o]Ycj][gn]jql`Ylakfgomf\]j

wy y v ts, s ut t ty

stutu st t ts. I y Eu

Nt t sts, t tuty,

uts, ut sw wt

u sw v tv wt s.

Làke]Yfkl`Yljekk]]caf_jYha\_jgolèmkllYc]al^jge

tts, ust t ssvy. T t st,

st, w ts s tuy ut, s

hja[af_hj]kkmj]kjkl&J]lYadaf_af=mjgh]akYr]jgkme_Ye]

w ts s t ys ss, t

xutv t st.

P ssus t stty tu ts ,

wv. Rsts s ts ty I,

Sut , Russ t s t t t. Tsy s ttut t s xsu t tt

tt ts y z s.

t 2013, y ts, u C,

P, I, Russ Sut , ts s s xt t

t. v, t s tt t ut t

2013, wt sts s v v t vws

o`]l`]jl`]aehY[lg^l`]jakcoaddjak]gj^Ydd&LàkeYqj]][l

utty v wt t vy w tu ts t

wt t t.


Pricin pressure

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

YZ S S T T S T

S S T T S T S YZ S T T T S T ST

T

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Drivers o pricin pressure riss, s reporte byorniztions surveye

R by ruy o to

R* v

1 P ssus s ts

2 Gvt ts stv ssu s

3 T u u ssus s

4 Nw tts ts



responses not shown


17/60



v, ty sts t u suvy t tt

ty w tvy ssu s, y y

ust t stts t ttv.

_Yk$da^]k[a]f[]kYf\hgo]jYf\mladala]kjekYhh]Yj]\lgZ]

y t ttt t t tt - tu

sus su s v t t t

w. Ny 40% t s t tt t

ts t tt ts s w usussu u t t

ssus suy t t ts

y uts t t t sts.

T suvy s v vt, wt xutvs

ust, Bz, C t US ty ss y

t v y t sus t s

t t utts Eu Russ.

Pt ssus tuy ut

ust, F Gy. I C, sts ws t

ss t y xty 50% sts-

t y t y. (Gy, s xt-t

t, ws s wt xty -ut tstts s u sts.) Sw,

t 50% sts t tt sus

lgj]khgf\`Y\Z]]f]al`]jlYc]fgjhdYff]\&L`ak_mj]ak

tuy st w ss tt (s wt ss

tuts) y sts ssus

t t u s w s ut t sus ty

t t t s.

ot swr7

E rowr by ototto42

Ex ss7

C by

ot rssurso r21

M osts

15

E rowr v

ustor r8

Fctors ititin pricin pressure riss, s reporte byorniztions surveye

R by ruy o to

R* tt t

1 ustts t stty

2 Fus t t s y tts

3 t suy sts

4 Ets t ust sv

5 vt w tu t

6 Rut ut sts

7 Rut sts

8 Is s t t w

Is ss t st w s

10


18/60


5. Eerin tecnooies

Rss t t ts v s w

l`]jY\YjdYklq]Yjlgl`]^l`hgkalagfgfl`]jY\Yjaf&f

v, ss sts, t ts ts ss

xt t tu t s tw 2013.

Ris outoo n ipct

Rss t t ts t y t 10 tt s xt t tt 2013 vy

k][lgjkmjn]q]\&L`akf\af_eYqZ]af`]j]fllgl`]jakc$Ykl`]

s ts s tt s t

yt ts xu t. T tu s s ss

s: uts s xt Russ C,

ts xt t v t

2013 t ty.

t vs t s, t st uty t ssu

j]dYl]klgl`]\a^[mdlqg^\]n]dghaf_YfaffgnYlagf[mdlmj]&

Hwv, ty s t sts t

t t t utty tt s wt utst

ts, t t

w s w uw. Wt t vstts

tty y s t t t ut t

t vt, t s y st w

tvw.

I ts ut t, t sts vy sstt:

st t u v t, wt st v

tuy w. T s swt vt

s, s t s s s, v, y

sts t C t US, t y t

j]_agf&Afl`]MK$l`akhj]kmeYZdqj]][lkl`][`Ydd]f_]g^

z - vt, C t

t v ty, tu

t stut s s ts sy

ts vt t w t. T wt

s ts s su s I

C s y t ust t sttus vt t

ut s su s t Ut Stts, t

F, Et t u C

Bty.


ty s suvy t tt ty tvy

ts s. By t st uty t tt

kljYl]_qaklg\]n]dghYfgj_YfarYlagfkh][a[affgnYlagf[mdlmj]

t t w ts vw uts, svs,

t sss tuusy.


Eerin tecnooies

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

S S S S S S S

SS

S

S T S S S S S S S YZ S S S S

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Drivers o eerin tecnooies riss, s reporte byorniztions surveye

R by ruy o to

R* v

1 Fu t v vt utu sss

2 It utty utst ts

3 Afkm [a]flafn]kle]flafaffgnYlagf



responses not shown


19/60


Hwv, sts t , u stt

, t ss xtt, t sts t tt t

ts t s t ts tt t yt ut. st

t sstt wsss vt x

t vt, t s s s

ss, t ss w tvw.

zts t Eu ty tuy

xs t ty ss. Ny u t sts

t Nts xty -ut sts

^jgeKo]\]f$AlYdqYf\]jeYfqj]hgjl]\l`Yll`]ajjek^Yad]\

lgafn]klkm^[a]fldqafl][`fgdg_qgjdY[c]\Yf]klYZdak`]\

ss vut vt. (I t US, t

_mj]Yhh]Yj]\lgZ]d]kkl`Yfgf]afl]f$Yf\af`afY$kgkeYdd

s t .)

9j_mYZdql`]egkl\a^[mdlhgkalagfakl`Ylg^jekl`Yl`Yn]

s ust , ut v t yt t

sus t s. st ss sts t

ts ty. But t s st, t 30% ,

o`a[`h]j`Yhkj]][lkka_fa[Yflmf[]jlYaflqj]_Yj\af_dgo

ts. F st, s y tt

t, Ey s sy v t

tty, ss tt wu ty s u vs

tty st. I t s t , t

ts s wu u.

Fctors ititin eerin tecnooies riss, s reporteby orniztions surveye

R by ruy o to

R* tt t

1 Ctuus t w ts

2 Ctuus vt utu sss

3 Ctuus vt uts svs

4 zt-w tzt IT

5 Ivstt IT systs

6 Ivstt st wt IT xts

7 vt w t syst

8 ust t y t ts

vt utu vt



responses not shown

Bi tr

i s

Pwr utiitis

RtiLisis

Pubiiistrti

25

15

33

1820

3

14

Orniztions' responses to eerin tecnooies Percente reportin tt esures to ress eerin

tecnooy riss re pnne but not yet ipeente, by

sector

ot swr7

Ivstssvy IT

17

Sout w btstrou rtrs

or usto2

C byr toos

15

E owt

5

voovto utur54


20/60


6. Mret riss

t ss w tt t t s 2011,

s su s stt t vtty,

[geeg\alqhja[]ngdYladalqYf\kh][mdYlan]fYf[aYdYllY[ck$

w v tts t y sts t w t

_dgZYdfYf[aYd[jakak&9n]jY_af_Y[jgkkYddl`]k][lgjk[gn]j]\$

sts xt t t su ss t tu t s s

2013 s.

Ris outoo n ipct

T sts w tvw xss s ut y

Ykh][lkgêYjc]lngdYladalqafl`]oYc]g l`]fYf[aYd[jakak&L`]

syst u s , s t s

w u tx wst st xsts t syst, t t

H, S tu Ctv Pts, S

Es. E st ts,

v tuut t w ys, w t su

stty, u S Rs Fw t Ct

Hus.

Hwv, u suvy, s t t t

t tw su utts, ut t, t ss

s y vt tvt ts. F st,

tt t w utts st t tt

t tvs u tvt tt sts

z tty sts. Su s ts

vusy suss t ut

st utt ss, suss t xt st t t

t xs vts . T -vt t stt

lgl`]klYlmkg Y[lan]eYjc]lhYjla[ahYfl$YkYj]kmdlg^fYf[aYd

st uts t s stt-t

s, t ts, s ty t w

y s t t vt u sts.

tu t ss y t y xutvs

ss sts, ty tu t t,

_Yk$Yf\ZYfcaf_$oà[`dac]dqj]][lk]phgkmj]lgj]Yd]klYl]$

[geeg\alqYf\fYf[aYdeYjc]lkj]kh][lan]dq&q[gfljYkl$

zts t t u stt stst tt t s ws ss tt, tu ty w

y t t tt t ty t t s ws

stt y t ssty vt tvt.

t 2013, t s sts,

Yn]jY_]$^]dll`]jakcogmd\^YddafaehgjlYf[]$h]j`Yhkj]][laf_

ghlaeakel`Ylj][]flngdYladalqaffYf[aYdYf\[geeg\alqeYjc]lk

wu ty .

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rti


vr

Mret riss

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

S

S T S T S S S T

S YZ T S S T S S T S T YZ S YZ S

Drivers o ret riss, s reporte by orniztionssurveye

R by ruy o to

R* v

1 Gvt tvt ts

2 AfYZadalqlgj]khgf\]paZdqlgeYjc]lkà lk\m]lgklYl]ws

* Bse on 336 responses ro our ob uti-sector survey. Rn orer yfglj]][lklYlakla[Yddqka_fa[Yfl\a^^]j]f[]kafYdd[Yk]k&Mf[dYkkaYZd]'j]^mk]\

responses not shown


21/60



u suvy ts sustt vt st t st

stts t ss, tu t tw st

y t stts t vv t s.

l`]jjakceala_YlagfkljYl]_a]kaf[dm\]\\an]jka[YlagfYf\

uy ss.

Ususy, sts w t st y

t t tt sus t s t t ss t, wt s t 70% t ts t t s. Pu

stt sts w st y t t ty

u t ut tv ss.

T suvy v w vt t

t s, tu t ss ts vt w

swt u. v, 6 10 zts y

lYc]fe]Ykmj]klgeYfY_]eYjc]ljakck$Ydl`gm_`l`ak_mj]

ws y w C, wt Eu

41% Sw t 81% Gy. Rsts s Russ

C tuy y t t tt sus

t s t t ss ut v t yt

ut.

Fctors ititin ret riss, s reporte byorniztions surveye

R by ruy o to

R* tt t

1 Ctuus t t ss

2 Ctuus t t ts, sts vts

3


22/60


7. Expnsion o overnents roe

Exs vts s t w t t t s

2011. Sx sv sts s t s tu t s

t s 2013 s. s t st w

afl]jna]o]\[gee]fl]\$L`]afl]dda_]flklYl]jgd]aehda]kYn]jq

t ts tw t stt t vt

st tt w s ty. T stt w t

sstv ts ts wt t vt st. Sttvt s w -, t t stt

vstt - sts.

Ris outoo n ipct

W su sus t tuts (suss u

hmZda[hjanYl]hYjlf]jkàh!$l`]j]Yj]Ydkgka_fa[Yfl[`Ydd]f_]k

s t t u vt zts. T st

ts s t t 10 s sut tvy xt

sss t sts s. Rsts

l`]ZYfcaf_k][lgj_an]làkjakcYà_`]jhjagjalqjYfcaf_al^l`!

l`YfYfqgl`]jk][lgjYfmfkmjhjakaf_f\af__an]fZgl`j][]fl

ZYadgmlkafl`]k][lgjYko]ddYkgf_gaf_]^^gjlkYlfYf[aYdk][lgj. I, u t sts w tvw u

yt u y sts t st. Etv

j]^gjelgj]\m[]jakcg ^mlmj]fYf[aYde]dl\gofkak]kk]flaYd&

Ts su u sus t st t

[Ykafgafn]kle]flZYfcaf_$Yj_m]\Y gje]jk]fagj[anadk]jnYfl&

T s x vt s s s t

t u s y sts t ws tw st

s, t US C, s w s Sut

I. Ts s s y s vt t s

t u . t s v, uy

-ut sts t t suvy s tt t s

vt ut ws s t w sts,

oàd]afYdkgkYa\l`YlaloYk`Yjeaf_l`]]paZadalqg^l`]aj

gj_YfarYlagf&L`]j]akYa_`ljakcafkg YjYklYd]fleYqegn]lg

gl`]jZYfckafegj]^ja]f\dqbmjak\a[lagfkYf\gjlgmfj]_mdYl]\

tts, t s xutv w tvw.

s sts w u y, s

t t sts, t t tt x vt s

s sus ttv , wt 55% ty ts

ssu. Stt-w stt- s t

s tt ss t svs u t .

t s t y- v uts,

ts, t y s t stutu

vstts t t u vts stt-

w stt- s, t u , S


Expnsion o overnents roe

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

S

S S S S S S T S

S T T YZ S T S YZ T S S S S S S

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Drivers o expnsion o overnents roe riss, s reporteby orniztions surveye

R by ruy o to

R* v

1 Ex ut, s w sts

2 =phYf\af_j]_mdYlagf$ Yjeaf_gj_YfarYlagfYd]paZadalqty

3 Ruty s/-s vt s

4 Ex ut, ty t vt



responses not shown


23/60


Ey Pst t t Ct G Ey Stus. Pw

utts st sts w t s st y t

su t, t 41%.

s t v, t s ssus ss t sts tt

t t ts s w s s 2013 s. Hwv,

t s vt s. W sts

s Eu t US st uy xt t t

t s t tu t s, Bz, C I, w

sss zt , t

t ts s s xt t v t.


s t xt, ss t t st vt s

tuy s t tt. Fw t

sts v s tt t s t

sus t s t ts . By t st

s tt stty ws sy t su t

uts, ut 8% sts t t tv

st ust t usss stty t s t w

_gn]jfe]flafm]f[]&tt stts s v swt y st, wt

xutvs s, w utts

ty y t ts s tvy y

Yll]ehlaf_lgafm]f[]_gn]jfe]flhgda[ql`jgm_`dgZZqaf_gj

t s t. t t s t, sts

ts sts y t sy tt w sus t

s t ts s ssy, ts st t

sts (30% , 28% w utts 27%

s sts s s). T st st y y tv t tv sus t s t ts s s t

t 51%.

Fctors ititin expnsion o overnents roe ris, sreporte by orniztions surveye

R by ruy o to

R* tt t

1 t uts

2 t t st s yt

3 ustts t usss stty t s t s

vt

4 t stutv ts wtvt

5 Ivstt vt ts

6 Ivstt



responses not shown

Bi tr

i s

Lisis

Pwr utiitis

Rti

21

38

55

26

41

29

ot swr5

It ovrtrtos rors

8

C by

xso oovrt's ro

34

Itorors53

Orniztions' responses to expnsion o overnents roe Percente reportin tt te expnsion o overnent's roe

s netive ipcts on copetitiveness, by sector


24/60


8. Sow recovery n oube-ip recession

t tw ys t t t st u , ts s s

^Ydd]flg]a_`l`&L`]_dgZYdfYf[aYd[jakakZjgm_`l`ge]l`]

tt t ss t s vts

ogjd\oa\]&L`]fYf[aYd[jakak`Ykgh]f]\l`]]q]kg^l`]

su t t ssty st ty v tut

ss, s C Ry, stty sst t S,

ut t. But 2011, zts tst, xt tss t tu t s 2013 s. Ts s st t

ss t Est, w u s ts suvy ws

u wy; tu t tst tu tsu

u t t suvy ws t.

Ris outoo n ipct

Km[`hgkalan]f\af_kYZgmll`]gmldggc^gjlàkjakcmf\gmZl]\dq

j]][l_jgoaf_d]n]dkg^ghlaeakeYZgmll`]_dgZYd][gfgeq&L`]

v tt ts s ss t v F,

Gy t BRICs. Hwv, xutvs t U v ts

s ty (ut) t y t uty

v, sust tt t U y v sw t t\]n]dgh]\][gfgea]klg]e]j_]^jgel`]fYf[aYd[jakak&

t 2013, sx sv sts v s

s t v t (t xt ws w

utts). s t xt, vt y y ws

t, wt t BRICs uy tst, ut sv Eu

uts, u Gy F, t tt t s

wu s t y 2013. tt w tvw,

s , Rst Fw t t Ets

Isttut, t tt ss uts t Eu

h]jah`]jq`Ykl`]hgl]flaYdlgafa[ldgYfdgkk]kgfl`]=mjgh]Yf

syst t tt u t tt

t 2008 s.

L`]\jan]jkg^làkjakcYdkgnYja]\ka_fa[YfldqZq_]g_jYhà[Yd

. Tw-ts zts t Nts,

zts t US, t tt t xsu t ts

s ws v y u vt st wwhj]kkmj]gfhja[]k&@go]n]j$l`][gehYjYZd]_mj]oYk

ty ss t 15% C, I.) t

vs ts s t t t ustty s. I

Gy, w sts stv v ut

t ut t t s, 50% t s

k[Ydla_`l]faf_]n]fYkYhhYj]fldq ]o]jl`Yfgf]afn]j]hgjl

s vt ). Ts s ts

sts su s: Rut vt

[gfkmehlagf`Ykka_fa[Yfl][gfgea[[gfk]im]f[]k&


Sow recovery/oube-ip recession

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

S

TTT T SS T YZ TTS S

SS S

T T T T T T T

YZ

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Drivers o sow recovery n oube-ip recession riss, sreporte by orniztions surveye

R by ruy o to

R* v

1 s stt vt st

2 Rs tt st, sst wwssu s

3 st vt s

4 E t t ustty sus



responses not shown


25/60



I wt t tuy ty v t ts s t

U, Bts sts y t ts

y t uty t tvy t

sus t ss t s sw vy u-

ss (y 0% s). ss sts, t

st u tt stty ws t suy

]^[a]f[q$Ye]Ykmj]Y\ghl]\ZqYhhjgpaeYl]dqgf]afn]

zts tt t ts s t t s.

mklge]jj]Y[`kljYl]_a]kj]][le]Ykmj]klg\]n]dgh

vtv t ty stts s tt stut

s; t ty s t sus su s

t s ss us t st t sut

s-.

Exutvs C, I t Est w tvy

uy t v t t t tt ss,

j]][laf_][gfgea[[gf\]f[]afl`]k]j]_agfk&Af9mkljYdaY$

50% sts t sus w ut

fglq]laehd]e]fl]\&L`akeYqj]][lYj][g_falagfg^l`]

tt vtty y wt sz tyk][lgj$[gmhd]\oal`l`]\a^[mdlqg^egZadaraf_Yfgj_YfarYlagfYd

ss t su ytt vuty u ty

.

t t sts, t ss t ss

t t ty t vs xsu. T

t sts, w uy t st vu t

sts w suvy t su s ts,

w t st y t v t sus t s t

zt s t ss. Exutvs t

`]Ydl`[Yj]af\mkljq$Zq[gfljYkl$o]j]ka_fa[Yfldqd]kkdac]dqlg

ts s tvy.

Fctors ititin sow recovery n oube-ip recessionriss, s reporte by orniztions surveye

R by ruy o to

R* tt t

1 Af[j]Yk]afkmhhdq[`Yaf]^[a]f[q

2 ustts t stty

3 Exs ust

4 O]dd\]n]dgh]\fYf[]^mf[lagf

5 Is t ty



responses not shown

Bi tr

i s

Pwr utiitis

RtiLisis

Pubiiistrti

74

59

54

44

56

50 48

Percente tt ve ipeentin esures to ne

econoic riss, by sector


26/60


9. Soci cceptnce ris/CSR

S t s/CSR ws w tt t t s

st y t t. Ts y t stys t s st, ut,

v ss sts, t s xt t s y 2013.

Ris outoo n ipct

sts suvy sstty ts s t t

wt t xt u stt, w s t^l`$dac]dqj]][laf_akkm]kkm[`Ykl`]aehY[lg^OacaD]Yck$eYkk

stts st ustty s Eu Nt

, vt-t w ust t

Est.

Sv t sts w tvw, t t ut

ust t Est, ts tt w tst

xty st. F st, tu ts t

Eu uvsty t tt y v uts,

t t t s s ss t

t tt s u t ty vts

t t t t t tt s sst t

t utt .

T st-y-st t t t tt

u xtts v s vs st st t

t t w st ssus v s

t ys. s wy s u stt

t t sts tt t ty

s ssu. (Ts suy ttut t t usty-w

ut t s t Gu x. T t sst

t Gu x s t tt y t wt

s xt vt y, s y

tt t.) ss s xt, tsy

ssu t v -sv s t w st,

tuy uts, w y , w u

tst yt stutus s s t w t

fYf[aYd[jakak&an]fl`]f]_Ylan]hj]kkl`]ZYfcaf_k][lgj`Yk

v v t st u ys, t s suty sst

l`Yll`][d]YfZYfckj]lYafl`]ajj]hmlYlagfYdafl]_jalqgj]dk]s u t -t s, t

xutv.) s vs t s, s CSR sts t

st uty, w y u ssu tvs,

l`]ff]oKJd]_akdYlagfkm[`Ykl ][gfa[leafaf_hjgnakagfkg^

t US -F t).

u suvy suts sw tt CSR s t

v s tvy tt ss t y Nt

Eu ut s ts. xty

u xutvs t ust, t Nts Sut


Soci cceptnce ris/CSR

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

S

S S S S S S S S

S S YZ S S S S T S T S YZ S YZ S

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Drivers o soci cceptnce n CSR riss, s reporte byorniztions surveye

R by ruy o to

R* v

1 Rs CSR sts

2 Gwt u ssu tvs

3 Is vt ssu st CSR

4 K][lgjkh][a[aeY_]hjgZd]ek

5 Is stust u-st zts st



responses not shown


27/60


t t zts stu t s

CSR sts, 3 10 sts C

s t sts tv . Ny

sts s ts s s t y 2013.


mjf\af_kmf\]jdaf]l`]]pl]fllgo`a[`l`]eYfY_]e]flg^

CSR ss s t t zt utusYf\kljYl]_a]kYjgmf\l`]ogjd\&n]jgf]afn]j]khgf\]flk

s tt CSR ws ust zts t t

st, xty t t sus t

afl]_jYl]KJaflgl`]ajZmkaf]kkkljYl]_q&AloaddZ]n]jq\a^[mdl

t ut t tsy t tt, t wy

Yf\fYf[aYdk][lgj[gfkmdlYfl$Yf\l akoadd`Yn]YeYbgj

aehY[lgfoYqjek[gf\m[ll`]ajZmkaf]kk&

Pw utts sts w st y t v t

CSR s t t utu. ( utts st t

tt T ssu stt w w t ts s

y wt us s t s

t t s t tu ts t, w t s s tt t w v st ts

ws t t ss t s u ts.) B

u stt, tw sts s u suty,

w st y t v su xtsv CSR ts. It s

t, wv, tt, v ss t sts, y 4%

sts v ttv vt st

t CSR tvts, sust tt s t s st

ust y s s, t t s tt su

usss tuty.

v 0% zts F, Gy Russ t

v t sus t CSR ss tvy, t

tw t vs t US ust. I Ity, t tt sus t t s s s u tt

t s sz vts ut sssst wv, 50%

sts s Ity sy tt su sus

t utu.

Fctors ititin soci cceptnce n CSR riss, sreporte by orniztions surveye

R by ruy o to

R* tt t

1 Itt CSR t stty

2 Itt CSR t zt utu

3


28/60


10. Access to creit

T t u s ty t s

jY\Yjkaf[]l`]jklj]hgjlaf&L`Ylq]YjaloYkk][gf\

gfl`]jY\Yj$afaljYfc]\jkl$Yf\dYklq]YjaljYfc]\

s . Ts y t s s t 10t st tu,

uxty, suvy sts v xt t t

t ss s t s y 2013.

Ris outoo n ipct

Cs ut ss t t v ss t ,

tu ts ss ty sty t

BRICs, w t ss y s svt t. (I

st s Nt Wst Eu, ts s s

10t.) H ts s t t ss t t

afl`]JAkn]jqdac]dqj]][ldgo]jd]n]dkg^fYf[aYdeYjc]lk

vt ts s, s s t y

ssus t t u.

st ts sy v tu vus ys, u

suvy v tt y zts tu t stu

t ss t t: 35% tu t t stts

t vty, w 10 t s t

t vstt s. Exutvs

t w utts st st y t t

afkm^[a]flY[[]kklg[j]\al&q[gfljYkl$l`]da^]k[a]f[]kYf\gad

s sts st y t t tu s

ss ts s. st t sv t

s Eu, tvy w sts t u

st (27%) t t t ss ssus.

t 2013, uxty, s sts, v,

xt s t t t ss t s

l`]jY\Yj&L`akoYkljm]afl`]ZYfcaf_k][lgj$Yf\eYqj]][l

xtts t uts sv t

akkm]k&L`]k`]]jngdme]g^kgn]j]a_fj]fYf[af_l`Yloaddf]]\

t t v t xt w ys, sy t t s t

s s t v t s t t uty

lge]]lYk]dj]imaj]e]flk$oaddhdY[]Yka_fa[YflkljYafgfl`]

uty s, t s xutv. T t

ss sts, w usss s

y ts t t t sts s

ust us, s xt s t t ss

s.


Stts t ss ss tvy

sttw: u sts t y tw, t t

t ts ss t sut t t

y. Ruy (55%) zts u suvy


Access to creit

Vy t "7+" S t 2013

H t "6-7" T ss t 2013

u t "5-6" YZ U t 2013

t t "0-5"

S

S S S T S YZ YZ T

YZ YZ T T T S YZ S S S T S S S YZ

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Drivers o ccess to creit riss, s reporte byorniztions surveye

R by ruy o to

R* v

1 Ctu stts t vty

2 t s vstt s

3 St v s utttv t vsts



responses not shown


29/60


t tt t ts t uty-t ss w

sy tv. Usty, s w st y t

v t su sus (y 70%), w t u st

ws st y t v s (ty, w t

u). Rsts t w utts st w st

y t t ut st s sus t

t ss s ssy, ut t yt t

su s. Ct t ts t t

us w utts tuut t w t USs stt xsu t ss t uts ty

lgjYak][YhalYd\m]lgl`]dYj_]Yegmflg^hmZda[hgo]joà[`

s y t u vts, t t

[`YajeYfg^Yd]Y\af_]f]j_qje&

T ws sustt vt t ty

zts t st t ss s. T

hjghgjlagfg^jekgj_gn]jfe]fl]flala]kl`Yl^]dll`]ajjakc

tt s t t su ssy

us tu t ts, v sut t t

[gehYfqoYkka_fa[Yfldqà_`]jafl`]MK$àfYYf\l`]

Est t st Wst Eu s

Ydl`gm_`l`] a_`]kl_mj]g^YddoYkj]hgjl]\ZqKo]\ak`zts). zts Sut P s

j]hgjlka_fa[Yfl\a^[mdla]kafeYfY_af_làkjakc$km__]klaf_

tt t vty t y tt t (

t) utu t vt s ts.

Fctors ititin ccess to creit riss, s reporte byorniztions surveye

R by ruy o to

R* tt t

1 R t ts

2 Sut t y



Bi tr

i s

Pwr utiitis

RtiLisis

Pubiiistrti

28

42

24 23

55

2731

ot swr10

M tvbty55

Cotu\a^[mdlqaf

obt t35

Orniztions' responses to ccess to creit H]j[]flY_]j]hgjlaf_[gflafm]\\a^[mdlqafY[[]kkaf_

creit rets, by sector


30/60

Prt 2:

oortuts



31/60

29

T tuty sts sst t t 10

tuts, t ss t sv sts w v.

T tuts t t t t ts tt t

xutvs w tvw tut wu v t tst

t t zt t ys . ws t

wt t xutvs tut t tt t

t tuty wu s y 2013.

T s v t u sts. Ts st t u

\jan]jkg^[geh]lalan]km[[]kka\]fla]\afgmjCopetin or

rowth s. Ts stuy sw tt sussu s t t ut t vu EBIT wt v us

xut u vs ttv suss:

Cust t tz t tt t

t ty t xz t tv ss

gkl[geh]lalan]f]kklgghlaear]l`]ajhjglYZadalq

KlYc]`gd\]j[gf\]f[]lgk][mj]Zgl`lYd]flYf\kmhhgjl^gj

v t s

T tuty t sts tt vw t

lghghhgjlmfala]k$j]][laf_l`]\]_j]]lgo`a[`]p][mlan]k

v t zt s t s tvy t

tuty.

uy, t us su t u t-

. Rsts v, v, t ts tutss v t st t. I t, sts

tvy y t t tt sus t xt ts

tuts ssy, ut t yt t.

s wt t s t , t t tuts ts

eYhakfglYdoYqkZYk]\gfklYlakla[Yddqka_fa[Yfl\a^^]j]f[]k

sss. Tw tuts vst t

ts wt t t s t

t .

Perceivedscaleofopportunity

Msurs to xot oortuty but ot yt t

Pu-vtts s usts

Ivst IT

Iv xut stty ssusss uts

Ivst sss,ts

t tv tutvty

Ivt uts,svs ts

Ivst t ts wt

Nw ts

Ex vst ts

To 10 ob busss oortuts

1Irov xutoo strty rossbusss utos

2

Ivst rosstoos tr tov rtrroutvty

3 Ivst IT

4

Iovt

routs srvs

ortos

5Er rt rowt

6Ivst t

7Ex vst ts

8Nw ts

s usts

10Pu-vtts

Opportunity

rank

Cust

tty

Cstttvss

St

Prtoortuty v 2013- y to sybos

S

ss


Erst & ou Oortuty Lr

Erst & ou Oortuty Ht M


32/60

1. Iprovin execution o strtey crossbusiness unctions

L`akakl`]jklq]Yjo]`Yn]afnal]\j]khgf\]flklg[gee]fl

tuts s w s ss. T xutvs w tvw

st s t, CEs (ut 1%

sts) t CFs (22%) usss ut s (16%). t

t t t 2011 s tuty tt s t

fYf[aYdYf\Zmkaf]kkmfal]p][mlan]kYdac]aehjgnaf_]p][mlagf stty ss usss uts.

Ts s s tuty w zts tvy

y t t tt sus t s ut t

yt t. Cu wt t, ts vs t

tuty st u t .

Opportunity outoo n ipct

ss t sts, t t ts tuty s

u, t y ss. s t xt

tuty tt s t tu, , xutvs

t t s ts tuty s st, t s w w t 2013.

I t t w utts sts, wv, ts

tuty s s t w. Ts s ttut

t sts usss s tt u t sts. I

hgo]jYf\mladala]k$jekYj]af[j]Ykaf_dq]phdgalaf_f]oeYjc]lk$

su s y svs, ts us t vt

w ts. Nw s t t s t

wt ty wt t t/su, ut

tw t, su/y sv t, t

ws xutv t st. I t , s

t t systs yts stutus w uy

u s t t usss uts t sut w

stts. t s v-sy x stt tu,

ust-t s y sut stts s

ust vt -st uts. T w

Yka_fa[YfleYjc]l gjgj_YfarYlagfkl Yl[Yf^Y[adalYl]hYla]fl

t, uts-s t, s ss st

w tvw ut t.

ss s, t s s vt t vt ts tuty, ut v, v xut

stty ss usss uts vs ts u

st us t s u vyw.

t 2013, st t BRICs, t t

ts tuty s xt t t utu. Ts u

Z]Z][Ymk]jekgh]jYlaf_afl`]k]jYha\dq_jgoaf_eYjc]lk

uty stu t v t sttut w

t t t wt stts

ty s t v t us t

tuts y 2013.

Cenes to iprovin execution o strtey crossbusiness unctions, s reporte by orniztions surveye

R by ruy o to

R* C

1 Afkm^[a]fl^g[mkgjafn]kle]fl

2


33/60

T sts st uty t y xutvs s

t t vt ts tuty t tu:

t t zt s u t xut ut

ts tvy, t, stt t ss

s stt ut s w ss.

Responin to te opportunity

T st uty t sussu sss t tstuty t u ut stty

wt t zt. Ts s tuy tu t US, w

y 60% sts t ty v t ts

YhhjgY[`&Afgl`]j_]g_jYh`a]k$l`]_mj]kl]f\lgjYf_]^jge

20 t 30%.)

t s t ss ts tuty

zty us, su s v tt

stt ut. (Fs C tu

sz t vt stt ut s

y tuty.)


34/60

2. Investin in process, toos n trinin tocieve reter prouctivity

T s-u tuty t s s wt

ss-ut : v t utvty. v,

xutvs xt ts tuty t tu t s ts

tt t s 2013 s.


Ivu sts uts vy wy t tv

t ty v t ts tuty. tu w

utts u stt sts t tt

utvty s t t ty, xutvs ts

ghhgjlmfalqgfdqaf^l`hgkalagfgn]jYdd$Yf\q]l$Yk]fagjZYfcaf_

]p][mlan][gee]fl]\l`Ylafl`]YZk]f[]g^ka_fa[Yflj]n]fm]

wt tuts, s t v t t v

t t t st/ ts wv

hgkkaZd]\jan]gmlgh]jYlagfYd]^[a]f[a]kafgj\]jlgkmhhgjlJ=

sts.

Gy s, utvty s y us xutvs st t BRICs (wt t xt Russ)

tt Eu. By tst, xutvs t US U

tvy ss y t ts s -t tuty.

u suvy suts sust tt t s t v

utvty vstt s s,

afkm^[a]flZm\_]llgeYc]l`]f][]kkYjqhjg[]kkafn]kle]flk$

zt us tts, t t

t tvss.

v, sts t u stt

k][lgjkYhh]Yj]\egkldac]dqlgj]hgjlka_fa[YflZYjja]jkoalàf

l`]ajgj_YfarYlagfklgeYcaf_ka_fa[Yfl_Yafkgflàkghhgjlmfalq&

Exutvs C, P Sw w sy y

lgj]hgjll`Yll`]ajgj_YfarYlagfhdY[]\afkm^[a]fl]eh`Ykakgj

sus v utvty. I t s C

gdYf\$afhYjla[mdYj$làkeYqj]][ll`]^Y[ll`Ylgj_YfarYlagfk us t st v wt.

st sts xt t t ts tuty t s s

2013 s. t xt s u stt,

w ts t.


T y stty v utvty t y v

4 10 zts u suvy ws us vst

st ss vt. T s st tt stty,

t y y 3 10 zts, ws us utt

Cenes to investin in processes, toos n trinin tocieve reter prouctivity, s reporte by orniztionssurveye

R by ruy o to

R* C

1 Afkm [a]flZm\_]llgY[ a]n]gZb][lan]k

2 Rsuts vstt t yt t

3 Afkm^[a]flafn]kle]flafh]jkgff]d

4 zt s st st-sv

5 zt us ttv ssus t tty-u



responses not shown

Vy t "6.5+" S t 2013

H t "5.5-6.5" Tss t 2013

u t "4.5-5.5" YZ U t 2013

t t "0-4.5"


Investin in process, toos n trinin to cieve reter prouctivity

SS S YZ S YZ T YZ

SS S T T S T S T T S S T S T S

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr



35/60

[gklk&J]][laf_Y[gflafmaf_k[Yj[alqg^afn]kle]fl[YhalYdaf

eYfqjekafl`]Y^l]jeYl`g^l`]_dgZYdfYf[aYd[jakak$eYfq

sts t tt t ws t v

wt t sus v.

, t sts v t s

t v utvty. Exutvs , u

stt t w y t t sts

t us v st ss, ss y t tz

st utt. By tst, sts t s

usty w u y t tz u sts v

v st ss. (Ts tt t vws s t

s sts w tvw st, xts

vw tt t vs s t tvs, su s

mh_jY\][gmjk]k$l`Yl_gZ]qgf\fYf[aYdj]oYj\k&!

u suvy s susts tt, st t t

v utvty, t s y t xt y

s t t s. tu

xutvs Eu (wt t xt Ity) Russ

y y t utvty tvy, xutvs t

Est, US C .

Fctors enbin investin in process, toos n trinin tocieve reter prouctivity, s reporte by orniztionssurveye

R by ruy o to

R* E t

1 Gw t t t stvt wss t vst s

2 N t v wt t sus uty v3 ]]\lgaehjgn]l`]]^[a]f[qg Zmkaf]kk gj][Yklaf_$

, ut t sss

4 A\]fla[Ylagfg Yj]Yko`]j] mjl`]j[gklghlaearYlagftt xsts

5 t s utvty

6 Rt t v tut

7 Is u w ts



responses not shown

St vt rr Cst tiizti rr

Bi tr

i s

Lisis

Pwr utiitis

Pubiiistrti

Rti

20 30 51 35 39 23 22

47 45 24 38 46 48 54

Retive proportion o responents reportin st eveopent

vs. cost optiiztion prors, by sector



36/60

3. Investin in IT

Ivst IT u stt t

Z]f]lk$Y[[gj\af_lgl`]]p][mlan]ko]afl]jna]o]\ jge

w stut s t t vt.

W s s t-st tuty t 2011,

v, xutvs sw t tuty s ss

tt t y 2013. Tt s, tvy t

sts t tt sus t xt ts tutyw ut t yt t, v t st

u t .


ss Eu, t Est, vst IT s

tyy t t t s-st ty xutvs.

I C, Russ I, y tst, IT tuts

xtu t stt ttvs.

t t sts, w u tt ts tuty ws t

ty t t u stt sts.

L`]afljg\m[lagfgÂL]fYZd]kka_fa[Yfl[gklj]\m[lagfkaf

vtuy sts u xtu. I st uts ts

s v y z yt, u t

st w tvw.

ss sts s, st xt t tt

t ts tuty t s 2013 s. T

xt s t t st, w t t s xt t

jak]&LàkeYqj]][ll`]gf_gaf__jgolàf][gee]j[]L`]

xs t u s tt t s ss

t ty t w vy tt t

vy sy t, s st

su s y ut t.

T st uty t sts t t vt

làkghhgjlmfalqaf[dm\]\afkm^[a]flafn]kle]flYf\Y^Yadmj]Zq

s t t tz ts tuty (tw s

tt s y t tt). st t t IT

t u stt, w u tt tstw sts w t st y t tt ut vs

gÂLafn]kle]flo]j]afkm^[a]fl&9dkg$l`]hmZda[Y\eafakljYlagf

t sts w tuy y t

t tw t IT tt v usss

stty.

I ss tw ts, sts t US

Yf\àfYo]j]hYjla[mdYjdqdac]dqlgZ]kYlak]\oal`l`]aj

zts ts t t vt t tuts

u y IT vstt, w xutvs ust

t Nts w tuy y t t ty

s.

Cenes to investin in IT, s reporte by orniztionssurveye

R by ruy o to

R* C

1 Afkm^[a]f[qg [mjj]fld]n]dkgâfn]kle]fllgY[ a]n]s suts

2 Fu zt t tz IT

3 t tw IT tt zts stty

4 Fus t s t t usss s

5 Afkm [a]flafn]kle]flafkcadd]\h]jkgff]d



responses not shown

Vy t "6.5+" S t 2013

H t "5.5-6.5" T ss t 2013u t "4.5-5.5" YZ U t 2013

t t "0-4.5"


Investin in IT

T

T YZ T T T T T S

S T T YZ YZ T T T T T T S S T T

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr



37/60


u suvy v tt suss xt IT vstt

tuts s sty t t tttus s

t. T w-st zts ts

ws s z t tt IT v vt,

usss t systs s.

v, ty sts (56%) t tt t

zt sussu v IT y sut zt tvs. T st w

sts w st y t t su suss ws

Yf\_Yk!Zq[gfljYkl$l`]]imanYd]fl_mj]Yegf_hmZda[

k][lgjg^[aYdkoYkbmkl$Yfakkm]l`YleYqj]][l[mjj]fl

stts u.

t uts w suvy, t US , y s

, s t t ws xutvs w st tv

xt IT tuts. Exutvs t Nts w

y (67%) t t tt sus t xt ts tuty

, ut v t yt t.

Fctors enbin investin in IT, s reporte byorniztions surveye

R by ruy o to

R* E t

1 Ptzt y s t

2 Rt ITs vt

3 Rt ITs usss t

systs

4 Rt ITs s t



responses not shown

ot swr5

Prv orrtr IT

vstt32

Itrt ITvstts wty orortobtvs56

Prv otrto o IT

wt orortobtvs

7

Bi tr

i s

Lisis

Pwr utiitis

Pubiiistrti

Rti

31

37

20

34

26

38

32

Orniztions' responses to investin in IT Percente reportin ition IT investent is neee, by

sector



38/60

4. Innovtin in proucts, services nopertions

Ivt uts, svs ts s t t

t usss s zts s t sts w

suvy ty ss. v, t s s t ut

tuty t , tt s xt t s

t y 2013.


L`]j]akka_fa[YflnYja]lqafl`]hjagjalql`Yl\a^^]j]fl[gmflja]k

v t ts tuty. I Eu , ut

sv vt s uty t t t ts:

t, t s uty t u stt ttv

zts Gy. Cs w t ts

t w v ts ut s t su wt

]e]j_af_eYjc]lkakhjglYZd]$fgl]\l`]`]Y\g^_jgmhkljYl]_q

t vs y. By tst, ts tuty ws

jYfc]\af^gmjl`gj^l`hdY[]Zqgj_YfarYlagfkY[jgkkl`]a\\d]

Est st t BRICs.

t 2013, st sts s t tt t

ts tuty s. y ss

vt, t t t s ut. T sut

ss s s usus v tt u vt s

t t usss , ut t ts

w s tv t. Eu zts

F, Gy, P, Ity, Sw t U

tuy y t s ts tuty s s.

J]khgf\]flka\]fla]\^gmjc]qZYjja]jklgaffgnYlagfkm[[]kk

us vstt, xssv svts wt t

gj_YfarYlagfk$dY[cg^km^[a]fl]ph]jlak]Yf\af]paZadalq&n]jYdd$

t t, ss sts v ts tuty

t st ty, st y t t s

xt t. Rsts t w utts st,

t t , t st y t t sts t

xt vt. w utts xutv t

tt ussss, sy ts t t tty,

t u ut us stt t

[gehd]pkqkl]ekdac]l`]keYjl_ja\&L][`fgdg_a]kYf\hjg[]kk]k

w vy t, t tt, t ts t tt v t t.

zts C P w st y t

g^ZYjja]jklg]phdgalaf_làkghhgjlmfalq&LàkeYqj]][ll`]^Y[l

t s ss t v utt- vt s s

t t - ts zts s

ts. (tu t sts w tvw w

tst ut t vtu suss: T v

akl`]j]eYjcYZd]_jgolàf[YhY[alqYf\[gf\]f[]g^àf]k]

s . T s st t us

g^k[a]fla[j]k]Yj[`$J


39/60


mjkmjn]qa\]fla]\logeYaf^Y[lgjkl`YlYddgogj_YfarYlagfk

t s xt vt uts, svs

ts: t vt t zt-

w stty vt, w-sts sss

w uts svs. (tu IT vstt

ws s t, t vus tuty.)

W u tst s tw t t ustysts w suvy, ts t wy vt s .

Ususy, ss t wy t

affgnYlagfaflgl`][gj]kljYl]_qg^l`]je&q[gfljYkl$l`]

t t sts w tvy us

v t- uts. Fy, u stt

ws t st y st t vt t

sss IT systs.

Gy, t suts w sus. zts

Sut ust w t st y t t tt

vt ws t stty, Bz Sws

jeko]j]egkldac]dqlgj]hgjlkm[[]kkaf\]n]dghaf_eYjc]l

uts.

Fy, u suvy sust tt, w u uz,

vt ttvs s t tw t

zts st s wy : ust 1% u sts

t su tss. St, stty

_dgZYdh`YjeY[]mla[YdkjeYj_m]\l`Ylkm[`gh]faffgnYlagftss wu vtuy u xts

ts.

Fctors enbin innovtion in proucts, services nopertions, s reporte by orniztions surveye

R by ruy o to

R* E t

1 zt-w stty tuus vt

2 W-sts sss vt

3 t vstt utu su s

4 Ivstt w ts, uts, s svs

5 Ivstt IT systs

6 vt utu vt

7 Ivstt w y

8 E vt u st stt

Ct vt tss wt tts



responses not shown

ot swr11

Hv ot bovtv

ou23

voovtv

routs orsrvs

18

Irovtr

rosss9

EbaffgnYlagfafjekstrty orzto39

Bi tr

i s

Lisis

Pwr utiitis

Pubiiistrti

Rti

46 45

41

55

31 30

39

Orniztions' responses to innovtion in proucts,

services n opertions

Percente reportin innovtion is prt o te copny's core

strtey, by sector



40/60

5. Eerin ret en rowt

L`]^l`ghhgjlmfalqgfl`]dY\\]jakgf]l`Yl`YkZ]]fYkgmj[]

u y s w s s s xtts: t s t

ts, t sy s ts w-st , ut

Yk[]fl]jkg^_dgZYd[gfkme]j\]eYf\&


41/60

jYha\alqg^eYjc]l_jgol`Yf\]ph][l]\_jgol`!$kh][a[Yddqaf

s, s t.

v, sts t s st t t

st w tuy y t us ts tuty s

ut t wt: v zts ts sts s

ty x usss ts, tuy

Est Eu s. Exutvs y uts

t sustt t s t wt

ts wt t xt F Gy, w

t tt s ss t v tuy

u.

W sw ss v, wv, tt s w st

tsvs t xt ts tuty t t u. y 5%

s w tvy t t tuts

s, y 1% sts (y t w

utts sts) t tt ty vst vtv

s ts. I t, tvy w

[gehYfa]k`Y\Yll]ehl]\lg\]n]dghhjg\m[lkkh][a[Yddq^gj

l`]9kaYfeYjc]l&L`]k]f\af_keYq`]dh]phdYafo`qeYfq

[gehYfa]k`Yn]^gmf\al\a^[mdllghjgl^jgel`akghhgjlmfalq&

v, t u stt zts w

st y t t ust s s, t ttt t

\]n]dghhjg\m[lkYf\k]jna[]kkh][a[Yddq^gjl`YleYjc]l&L`]

st, y tst, ws st y t v

Yf9kaYkh][a[hgjl^gdagg^hjg\m[lkgjk]jna[]k&]f]jYddq$

ust xtts t sy y

sust s. ssv xs t s

ts s t st-t sut ut t utu s ts

ts w ss s , wt Pss t

s, s ssts t

Rs vt t B Gu.

Fctors enbin eerin ret en rowt, sreporte by orniztions surveye

R by ruy o to

R* E t

1 Rs ttv ssu ts

2 R t wt s

3 t t ust s

4 Fus t t s tts

5 Fx stty t ts

6 Gw usss tuts Est Eu Sv

7 Rut ut ys t s ssvss

8


42/60

6. Investin in centec

9n]jqkh][a[ghhgjlmfalq$afn]klaf_af[d]Yfl][`$lYc]kl`]kapl`

st u 2011 tuty . st t st-

kh][a[fYlmj]g^làkghhgjlmfalq$gfl`]o`gd]$j]khgf\]flk

ss t sts xt ts t t s s w v tw

2013.

Opportunity outoo n ipctv, t s t u st tuts

s 2011. I t, wv, t ts

lg`gd\Yka_fa[Yfldqà_`]jgjdgo]jhjagjalq^gjaf\ana\mYd

zts, t t sts

st. Ct s t s st ty v w

Yf\mladala]kjek$\m]afhYjllgl`]aehgjlYfljgd]hdYq]\Zq

ts y ts st. T

ss w t sts xt w

y sus s y, t y t tt vty

ut s x t ss s ss ss sts,

v s v susy, t tus ss t

IT. Ct s s t ut st ty t ustt s sts.

d]Yfl][àkg^hYjla[mdYjaehgjlYf[]lgO]kl]jf=mjgh]Yfjek$

j]][laf_l`]_jgoaf_aehgjlYf[]g^]fnajgfe]flYdakkm]kY[jgkk

t . I F, x, t s v s t

t st tt tuty ussss.

Ts ts ut tuty y ss

ut y ts ut. F st,

t 2013, t s u stt sts s

t t , w utts sts s t

u. s ts t sts t t ut t

t tuty st, ts susts t tss t

t stt s t ts .

L`]egkl[geegfdqa\]fla]\ZYjja]jklgafn]klaf_af[d]Yfl][`

af[dm\]YdY[cg^gj_YfarYlagfYd^g[mk$afkm^[a]flafn]kle]fl

ty, v v t st.

But, wt t xt t st, t

ts s t ty ws sstty w ss t sts

o]kmjn]q]\&LàkakYf]f[gmjY_af_f\af_$oà[àf\a[Yl]k

ss zts t x t

tuts.


T tw st uty t ts uy sussu

]phdgalYlagfgâfn]kle]flaf[d]Yfl][`Yj]$jkldq$Yh]j[]hlagf

tt t s vt t t vt stty t zt

, sy, xtt wt t t

-y uts svs.

Wt t xt t usty, sts suvy,

ty sts t tt t ws t

y ttv, ut t us t ws s

aehgjlYf[]&Làkf\af_h]j`YhkY[[gmflk^gjl`]à_`hgkalagf

g^làkj]dYlan]dqkh][a[ghhgjlmfalqgfgmjdY\\]j&L`]hgo]j

Cenes to investin in centec, s reporte byorniztions surveye

R by ruy o to

R* C

1 Fu t tz t

2 Afkm [a]fl[YhalYdYnYadYZd]lgafn]kl

3 Nt v s vt t zt st

4 Pu usts t tst t



responses not shown


Investin in centec

S

S S S T S YZ T S

S S T T S T T S T T S S S S S

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Vy t "6.5+" S t 2013

H t "5.5-6.5" T ss t 2013

u t "4.5-5.5" YZ U t 2013

t t "0-4.5"



43/60

utts st t wy ts vw t tty

ty t t utu t st. T t

u stt sts w t st y t t tt

t t t ws s, st s sut

t u ssu s CSR sts. Gvt

s w v w t tuts y-sv

vstt, tuy wt t u y

sut us, ss t Eu

s sttut.

Fy, t s s wt t tt, tu t s t

uty t ty zts C, xutvs

YljekZYk]\af`afYo]j]l`]egkldac]dqlgk]]Yf]]\gn]j

t ys t t t t utus t tz

t ssus. Ts susts tt t ws s st

y y t v ws vvt

vt. Psts w tvw t t :

C ssy I ( ss y Bz) w t

wst st vs w tus s ty t

xt , u N us, t Pss Ey

Py t I C . I ts zts

y v t sus t xt ts tuty,t U t 4% sts w y Gy t 81%.

Fctors enbin investin in centec, s reporte byorniztions surveye

R by ruy o to

R* E t

1 Ctty t t zts vt stty

2 Ext wt t -y uts svs

3 K a^laf[gjhgjYl][mdlmj]lgj]][laehgjlYf[]g _j]]fssus

4 jgoaf_f]]\lgaf[j]Yk]]f]j_q]^[a]f[qYf\\][j]Yk] sss

5 Is t t CSR

6 Af[j]Ykaf_k][lgjkh][a[aehgjlYf[]g [d]Yfl][`

7 Is u ssu t vst t



responses not shown

ot swr9

Hv tt vsttrors45

S ts rs

ort24

Ct oturrty ous

22

Bi tr

i s

Lisis

Pwr utiitis

Pubiiistrti

Rti

24

35

47 46

60

38

49

Orniztions' responses to investin in centec Percente reportin tt centec is core eeent o

cuture or strtey, by sector



44/60

7. Exceence in investor retions

Ex vst ts us t svt u

t tuty , wt sts v s t

t s s tw 2013.


tu x vst ts s t t-t

stt ttv y st suvy, t s v tuty (sxt ) y xutvs t w

utts sts. (Tt y u v s

y t wt us s t t sus

w y yt t uty

t t ss, t y st w tvw.)

I t, xutvs tw uts Sw C

ty v vst ts s t s st

tt tuty t st. Ts y t t

t ut stt t t s, w v

sy us vstt. It y

tty s tt sts ts s

`Ynaf_\a^[mdlqYlljY[laf_l`][YhalYdl`]qj]imaj]&

=p][mlan]kafgmjkmjn]qa\]fla]\logc]qZYjja]jklgaehjgnaf_

vst ts: stty ts wt

l`]fYf[aYd[geemfalq$Yf\Y^Yadmj]Zqk]fagjeYfY_]e]fl

t tz ts tuty. v, wv, w u tt

xutvs sts w w-st t t vt

ts stt ttv: y 14% t tt t zts

su s. t sts Russ t

u ts s t y t uty.

t 2013, t tu y sts s s x.

s, ss w utts sts,

v, xt t t ts tuty t

t . I t t s xt t . (T

tuty s tvy t ty t t u

st.)


mjkmjn]qa\]fla]\l`j]]c]q^Y[lgjkl`Yl`]dhgj_YfarYlagfk

lg[j]Yl]]p[]dd]f[]afafn]klgjj]dYlagfkjkldq$Y^g[mkZqs t ts; s, s

t v zts t; t,

t zts ts ut tt

sts. W u tt t v ts ts

t t usty st.

I t U, US, Nts Sut , u ut 10

sts t ts ts. But ts

t y 7 10 zts Russ, F, Ity t

a\\d]=Ykl&L`]k]f\af_keYq\]egfkljYl]`go\a^^]j]f[]kaf

Cenes to exceence in investor retions, s reporteby orniztions surveye

R by ruy o to

R* C

1 ggjdq\]f]\kljYl]_q gjeYfY_af_afn]klgjj]dYlagfk

2 Fu t tz vst ts




Exceence in investor retions

S

S YZ YZ S S S T T

T S T YZ S S S T T S S T S YZ T

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Vy t "6.5+" S t 2013

H t "5.5-6.5" T ss t 2013

u t "4.5-5.5" YZ U t 2013

t t "0-4.5"



45/60

[gjhgjYl][mdlmj]Yf\d]n]dkg^fYf[aYdk][lgj\]n]dghe]fl[Yf

zts t uts t us x

vst ts.

I ts sus t xt ts tuty, s t t

st tv, wt 80% t tt t zts

t sus t ts t. Rt w sy

t 74%; ts t sts w 60% w. Rtvy

w s t t st z su

sus w ssy ut t yt v t t.

Hwv, w utts w tvy y (42%) t sy

tt su sus w t t , w y

j]][ll`]af[j]Ykaf_YZadalqg^hgo]jYf\mladala]k[gehYfa]klg

lmjf\aj][ldqlgZgf\eYjc]lk^gjfYf[af_&

Fctors enbin exceence in investor retions, sreporte by orniztions surveye

R by ruy o to

R* E t

1 zt ty t ts wt vsts

2 s t v zts t

3 s t v utt



responses not shown

ot swr7

Prv suss vstor rtos

orts79

Ivstor rtosrors

ou b rov14

83%

50%

59%

52% 49%

59%

74%

Bi tr

i s

Lisis

Pwr utiitis

Pubiiistrti

Rti

Orniztions' responses to exceence in investor retions Percente reportin tt esures to iprove investor

retions ve been ten, by sector



46/60

8. New retin cnnes

Nw t s u s , W 2.0, ,

t, s, s. , st t t

k][lgjkh][a[alqg^làkghhgjlmfalq$aloYkk]]fYkaehgjlYflaf

Ykm^[a]fldqZjgY\[jgkkk][lagfg^gj_YfarYlagfklg]d]nYl]al

t u t 10 st tuts. v, ts tuty s

xt t s y 2013.


T ssts t y w ts t

ty wt usts sus tu tst

t t t usts, w t ts

l`]lghn][mjj]flghhgjlmfala]k^gjl`]ajk][lgj&>gjafklYf[]$

t st t tt t t s t

t t s t vts. T vs ts s

stv wt t s w s t usss t us

^gjY\n]jlakaf_Yf\eYjc]laf_&@go]n]j$làkeYqo]ddj]][l

tuty tt s : t ts sts xt t

tuty t sty t t s v t y 2013.

u suvy suts sust tt ts t s

t tst tuy t xutvs t US, C

Russ, s us t tuts ty t

t vst ( sy tw) uts

ts t uts. I y t uts, tuy

Eu, ts tuty s s s y t s t t

utu.

O]^gmf\l`Yll`]logegklka_fa[YflZYjja]jklg]phdgalaf_

s tuts w s y s t

t us tt t s, s

g^f][]kkYjql][`fgdg_q]ph]jlak]oalàfl`]je&L`]k]ZYjja]jk

w st t ss st. By tst, ty w

wst t, s, t . yz ts t

y , w u tt s t xt

ts tuty t t wst Ity C. By

[gfljYkl$]p][mlan]kafgdYf\Yf\]jeYfqo]j]ka_fa[Yfldq

y t t tt t ts t xt w t

s st y sus s.


mjkmjn]qa\]fla]\l`j]]hjaf[ahYd^Y[lgjkl`Yl]fYZd]

gj_YfarYlagfklgZ]f]l^jgel`]ghhgjlmfalqg^f]oeYjc]laf_

[`Yff]dk&L`]jkloYk]na\]f[]g^l`]]^^][lan]f]kkg^kg[aYd

t t s, uts svs; t s

ws s y s t t tz ts ssu.

L`]fYdakkm]g c]qaehgjlYf[]oYkl`]]pl]fllgoà[ làk

tuty u sussuy tt t ut

t t, tt vus wt w

.

W u w vts t xtt t w t usty

k][lgjko]j][mjj]fldqYZd]lgZ]f]l^jgelàkghhgjlmfalq&L`]

t , s susy, s ustso]j]ka_fa[Yfldqegj]dac]dql`YfYfqgl`]jk][lgjklg Yn]

y t ut . I s, ts y

Cenes to new retin cnnes, s reporte byorniztions surveye

R by ruy o to

R* C

1 Fus tt t s

2 t xts

3 Ivvt s s t y

4 Cts usts t us s

5 v v s t t st



responses not shown


New retin cnnes

S

S YZ S T S S S YZ

YZ T YZ T S T S S S T T T S S YZ

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Vy t "6.5+" S t 2013

H t "5.5-6.5" T ss t 2013

u t "4.5-5.5" YZ U t 2013

t t "0-4.5"



47/60


48/60

9. Merers n cuisitions

s usts t u st t t 10

tuts zts 2011. Ts tvy w

jYfcaf_\gmZld]kkj]][lkl`]j][]fl\goflmjfaf9Y[lanalq

v, sts xt t s t tuty

t y .

Opportunity outoo n ipctu suvy u ts t w t ts

tuty sv ts sts. Ts tuty

, tv ts, st xutvs Russ

àfY$h]j`Yhkj]][laf_l`]^Y[ll`YleYfq[gehYfa]kafl`]k]

ts us wt tt xs.

Exutvs ss t s v ts tuty

t tv ty t t sts.

tuts s s s t ty

_]g_jYhà]kkmjn]q]\&Afn]g^l`]kapk][lgjko]dggc]\Yl

( s ss v t u st, s stt-

w tss), ws xt t v tty t

t s stt ttv 2013 t ty. T

]p[]hlagfoYkda^]k[a]f[]k$o`]j]jekeYq ]]dl`Yl]^^gjlklg

uy vt v . S sys y

ss ut y s v y

t sys y, u ss st.

T st uty t t xt

tuts ws zt x; t s

ws v vu. Ts v s

w st t zts, tu ts

eYqj]][ldgo]jmk]g^9afl`Ylk][lgj&O]Ydkg gmf\

tt xutvs t BRICs t Est v

ka_fa[Yfldqegj]ZYjja]jklg9l`Yfj]khgf\]flkaf=mjgh]

Yf\l`]MK&LàkeYqo]ddj]][lYdY[cg^]ph]ja]f[]Yegf_

st-w s v uts tt v

sty u wt. I t U, s t

tuty w s t wt sus uy: ts

eYq$afhYjl$j]][l[gflafmaf_][gfgea[h]kkaeake&


W u tt t tw st uty t ts

9km[[]kko]j]$jkldq$l`]mk]g^9\]YdkYkhYjlg^Y

stty t t w ut sv ts, sy,

tuus systt s tuts, s

Y\]f]\lYj_]lhjgd]&

tu ts ts w uty t y

zts u suvy, w sv t tt

stts tw sts. T t st ws

ka_fa[Yfldqd]kkdac]dqlgj]hgjll`Yl9ghhgjlmfala]ko]j]Y

y t t stty wt, w t usty

ws t st y st t uty s

tuts.

ss sts, 1 10 s suvy w uty

]nYdmYlaf_Ykh][a[e]j_]jgjY[imakalagfghhgjlmfalq&@go]n]j$ts t ws tw s w utts

Cenes to erers n cuisitions, s reporte byorniztions surveye

R by ruy o to

R* C

1 x s

2 v vu ust

3 ssty s wt t y

4 t tuts



responses not shown


Merers n cuisitions

S

S S S S T S S YZ

S S T YZ YZ YZ T S S S T YZ S S S

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Vy t "6.5+" S t 2013

H t "5.5-6.5" T ss t 2013

u t "4.5-5.5" YZ U t 2013

t t "0-4.5"



49/60

s. Cst s t tt

sut w t ys, t w utts

st.

Itst tuts s vs

s. Gy, tvy t BRIC

zts w uty t t t

ust tuts. Ts ws tuy tu I,

w 6 ut 10 sts xss tst. zts

t tt Eu s w s tv

t ts tuts. Ts s st tst t

t US U, w y 1 10 zts suvy w

Y[lan]dqk]]caf_lgZ]f]l^jgel`akkljYl]_a[afalaYlan]&

Fctors enbin erers n cuisitions, s reporte byorniztions surveye

R by ruy o to

R* E t

1 ust t t w ut/sv ts

2 gflafmgmkk]Yj[ af_ gjghhgjlmfala]kZYk]\gfY\]f]\hjgd]

3 E ty t yz t tuts

4 ust t t w s

5 susss s wtutt

6 t zt



responses not shown

ot swr13

Motor rts

or ottusto trts

28

M& sot ous

16

Etr wrts v M&34

Currtyosr

rr/usto

9

Orniztions' responses to M&A



50/60

10. Pubic-privte prtnersip

mZda[hjanYl]hYjlf]jk`ah!akl`]l]fl`l`Yf\fYd

tuty t . Its w st s t xt

_an]fl`]k][lgjkh][a[fYlmj]g^l`]ghhgjlmfalq&L`YlkYa\$gf

v ss sts, t t ts tuty s

xt t s v t.

Opportunity outoo n ipctTs tuty s t t 10 s sut ts

v w sts. s xt, t ws v tvy

ty y t u stt xutvs w suvy.

L`]klYl]oaddaf[j]Ykaf_dqogjcaf[gddYZgjYlagfoal`fgfhjgl

vt sts ss st s v

u svs. Pu-vt tss, utsu

tw s w tz u sv vy,

t t st w tvw.

janYl]hmZda[hYjlf]jk`ahakYdkgjYfc]\Ykgf]g^l`]lghn]

tuts t t st, w u ts,

vstt ws s tuy ut. ty,

t t st, sts, v, t tt

t tuty w w t v t xt w ys. s

u st ty s u, vts w t

y vt sts t v t t t uts,

u w t US t s sttut.

PPP tuts w, wv, t w-

ts y sts w suvy. Exutvs t t

s sts w tuy y t t tt

l`]ajjek\a\fgl^g[mkgfk&L`]j]kmdl^gjgadYf\_Yk

ws s sts uxt, v t w uty

suu tss tw tt s

stt-w s. F st, t utu

u s t s tt

s v syy, u s s

xutv.

q[gfljYkl$hgo]jYf\mladala]kYf\da^]k[a]f[]kjeko]j]em[`

y t us PPPs, ut s t t

gh]jYlagfYdZYjja]jklgkm[[]kk$af[dm\af_[gfa[laf_gZb][lan]k$ x t ss, st tw t

utus t u vt sts. Ts s usus

t w utts st, w t uts tt tvy

k`Yh]l`]fYf[aYdaf[]flan]kg^[gehYfa]kYj]k]]caf_lgY[ a]n]

sy x x tvs, sss

ut t y suty. It s tt y ws v

t: t vty w y

ts u susy s t uu w

g^k[YdYmkl]jalq^gj_gn]jfe]flk$Ykgf]hgo]jYf\mladala]k

st t. Ts s w ty t

y t u t , w u t t

vt s t u u vt.

Cenes to privte-pubic prtnersip, s reporte byorniztions surveye

R by ruy o to

R* C

1 zt us PPP

2 gfa[laf_gZb][lan]k$eYcaf_\a [mdllgkmklYaf

3 Sw u st s- wt

vt st

4 DY[cg^]paZadalqafhmZda[k][lgj

5 x t t ss



responses not shown


Pubic-privte prtnersip

S

S S S S S S T T

T T YZ S S S T S S S S S S YZ T

Bi t ri s

Lisis

Pwr utiitis

Pubiiistrti Rtivr

Vy t "6.5+" S t 2013

H t "5.5-6.5" T ss t 2013

u t "4.5-5.5" YZ U t 2013

t t "0-4.5"



51/60

u suvy suts t tt vs v s t

PPP tuts vy y uty. Fs t US w t st

gh]flg$Yf\[gf\]flaf$]phdgalaf_làkghhgjlmfalq&LàkeYqZ]

ttut t t uy t US vt utsu

Yf\mk]g^hjanYl]jeklg\]dan]jhmZda[k]jna[]k&AlYdkgYhh]Yjk

l`Yljekdg[Yl]\afAf\aYYj]af[j]Ykaf_dqo]ddhgkalagf]\lg

Z]f]l^jgek$h]j`YhkYd]_Y[qg^^j]im]flafl]jY[lagf

tw t vt vt st u t

t .


mjkmjn]qmf\]jdaf]\l`][jala[YdaehgjlYf[]$^gjjekdggcaf_lg

hjgl^jgeghhgjlmfala]k$gâfn]klaf_j]kgmj[]kafZmad\af_

tss t t vt vs. By

t st tt t suss ws sty

tv tss wt t u st. T s ws

v stt vt t. Ts

ts w y t y xutvs sts, ut

tuy t .

T suss u-vt tss sYhh]YjklgnYjqka_fa[YfldqZq[gmfljq&L`]hjghgjlagfg^

zts t vus PPP suss x

utu ts ws tuy w Gy t

U, tuy C Bz. Exutvs I

P w y t t tt utts t

uts w sy tst PPP.

Rsuts t w utts st s t t

l`YljekYj]_jYhhdaf_oal`l`][`Ydd]f_]khgk]\&go]j

Yf\mladala]kjek$afhYjla[mdYj$o]j]dac]dqlgj]hgjll`Yll`]aj

]^^gjlklgZ]f]l^jgek`Y\^Y[]\k]jagmk[`Ydd]f_]k$Yk

fgl]\YZgn]&AfY\\alagf$f]Yjdqg^hgo]jYf\mladala]kjek

t tt sus t t u vt ts tuty

w , ut t yt t.

Fctors enbin pubic-privte prtnersip, s reporte byorniztions surveye

R by ruy o to

R* E t

1 Hsty tv ts wt u st

2 Pv stt tv t t

3 Is s u utts

4 Pssss xts/ty t u ust



responses not shown

ot swr10

S rs or PPP

5

o ot ous oPPP oortuts

15

E PPP ttvs52

Prv s PPPs

18

17% 16%

40%

11%

0%

29%

Banking Health

care

Oil

and gas

Life

sciences

Pwr utiitis

Retail

Orniztions' responses to pubic-privte prtnersip Percente reportin tt tey ve no interest in pubic-

privte prtnersip, by sector



52/60

Mtoooy


Ientiyin strteic cenes

O]afl]jna]o]\YhYf]dg^Yld]Ykln][gee]flYlgjkaf]Y[ g^

t sv sts, s tvw t ty t t

ss tuts t st 2011, s w s ss

tuts w t tt u s t t t

10 ys .

T sts u stty s t

xutvs, s t ut, usss ut ts,s, usts t uts, vss u

w Est u t sss. Ts vus

w st t t sttv, ut us t

stt st s wt t st.

W s t sts t us ss tuts

t zts t st. W s s

t t v ty w ty sw t ss

tuts vv v t xt t ys, t

na]okgf`gojekk`gmd\j]khgf\&

T tts ss tuts w u

t t stt st st. Tss tuts tt w t t st u

sts w t t t st.

Rnin te top ten cenes

T s s u s ws t ut -s

suvy s vts 15 uts

t t stt s t sts wt

ts s wu ss tt 2013.

U t sts w tvw, sts t u -

s suvy w s t us s t w

zt, t t st s w.

Unerstnin ow orniztions reresponin to te top 10 cenes

W t tvw t suvy sts t sv w

zts t sv sts s

lgl`]lgh[`Ydd]f_]kl`]q`Y\a\]fla]\&fdqgj_YfarYlagfk

ss tuts t t u w

susuty s ut sus ty t t ss

ts s.

T sts w s - usts ut t

sss. Ts - suts w t t, t u t w tys sss w

st u uty st w v.

I 15 uts sv sts, tt 733 tvws w

ut. Ts sut xty 50 t 52 tvws

uty, wt t xt t EN uts u t t

\a^[mdlhgdala[YdkalmYlagf$Yf\Yeafaemeg^Yf\YeYpaeme

142 tvws st.

T zts tvw v 13,487

ys. u ss vus uts ut

lgegj]l`YfMKZaddagfafl`]dYklk[Ydq]Yj gjg^

sts, w u ss x US1

28% t zts tvw.

Notes

Ivu - sss w st ss s

s sw. Hwv, s ss, vu's ss

ws uus ty, t s ut

Yfko]jk&Lghj]k]fll`]\YlYYk[d]YjdqYkhgkkaZd]$_mj]k

xss 100%, w v u s sut

ts ss, v ust t su t 100%. T

uss w ut t tv uy sss

wt sts t t y ts ustt. T v ,

w ss tw sts, t uust

_mj]kYj]mk]\&u t sss -v "" ss

ghhgjlmfala]k&mjk][lgjj]hgjlkY\\j]kkk][lgjkh][a[jakck

tuts. F ts s, t tv ss

tuts s sts t.

JakcYf\ghhgjlmfalqjYfcaf_kafgmj_dgZYdj]hgjlj]][ll`]

suts -s suvy ut ssus. Rs

tuty s u st ts s

w- yss y s st xts. F ts

s s, t tv ss tuts s

sts t.

7%

7%

7%

7%

7%

7%

7%

4%

7%

7%

7%

7%

7%

7%

7%ust

Bz

C

F

Gy

I

Ity

EN uts

Nts

P

Russ

Sut

Sw

U

US

Georpic oction


53/60

27%500 t 1,000 ys

34%Bw 500 ys

56%1,001

ys

1%

1%

3%

3%

5%

5%

6%

16%

1%

22%

uty st/t sty

t

C ts

SVP/VP

C vt

B /N xutv t

C s

t C-v xutv

C xutv

C

1%H

5%H stty

13%H usss ut

Bw 50 2%

$50 million 100 24%

100 250 22%

250 500 13%

500 1 11%

1 3 12%

t 3 16%

Opertion eve

Leersip neent eve

Worwie nnu revenue (in US$)

Documents

Business Challenge Main Report- EY Turn Risks and Opportunities in to Results