Sunday, June 7, 2009

72% Indian companies plan radical changes in operations

Using the global downturn as an opportunity, seven in every 10 Indian companies are planning radical changes to their business models in the next decade, while many European businesses are still undecided on their response to the recessionary conditions.

In the Asia-pacific region, around 72 per cent of businesses in India and 66 per cent in China are planning radical changes to their business models in the next decade, said KPMG International in a report.

According to the report titled 'Never catch a falling knife', Asia-Pacific businesses including those in India, are using the global recession as an opportunity for major changes to their operations, in anticipation of emergence of new international markets, while many European businesses are still undecided on how to respond to the recession.

The report has surveyed over 850 senior business decision makers from 29 countries.

It further added, nearly 90 per cent of businesses in Japan and 84 per cent of businesses in Singapore also said they were mulling major changes in their operations in the next decade.

In a sharp contrast, companies in the Czech Republic and the Netherlands only 20 per cent are planning major changes to their businesses. Further, 25 per cent companies in Belgium, 30 per cent in Hungary and 42 per cent in the UK are planning changes to their business operations.

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