What keeps CEOs awake at night?

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Keynote presentation by Phillip Ruthven from IBISWorld Pty Ltd giving his thoughts and perspectives on what keeps CEOs awake at night. 2011 actKM Conference. Melbourne, Australia. 10 October 2011.

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What keeps CEOs awake at night?

  1. 1. 12th Annual Conference<br />Research Lounge RMIT 5/28<br />501 Swanston St Melbourne<br />10 October 2011<br />What Keeps The CEOs <br />Awake At Night<br />Phil Ruthven, Chairman<br /> WHERE KNOWLEDGE IS POWER<br />
  2. 2. Topics<br />Sleepless Nights<br />A New Age Business<br />3. The Intelligent Organisation<br />4. Innovation & Productivity<br />5. Keys To Success<br />6. Australia’s Global Context<br />
  3. 3. 1.Sleepless Nights<br />
  4. 4. Keeping Us Awake<br /> 1. What is happening to my industry and markets<br /> 2. Where is the economy going<br /> 3. What will happen to interest & exchange rates <br /> 4. Keeping good staff and getting more of them<br /> 5. Managing the Net Generation employees (< 28)<br /> 6. Government stability, sensible IR laws<br /> 7. More productivity to compete locally and overseas<br /> 8. Best way to grow the business<br /> 9. Raising capital (and at good rates if debt capital)<br /> 9. My kids, brother in law and mother in law! <br />11. Surprises, I don’t need them <br />12. Heaps of other things <br />
  5. 5. 2. A New Age Business<br />
  6. 6. Ages Of Economic ProgressGDP @ Constant F2011 Prices Australia 1788-2011 and onwards<br />Hunting<br />Age<br />Agrarian<br />Age<br />Industrial<br />Age<br />Infotronics<br />Age<br /> Enlightenment<br /> Age ?<br />Industrial<br />Age<br />Agriculture,<br />Mining, <br />Banking, <br />Commerce<br />Transport the major utility<br />Quaternary service <br />industries <br />Hunting, <br />trapping, <br />fishing,<br />crafts, <br />religion<br />Quinary service industries<br /> Imbedded<br /> intelligence,<br />neural network <br />Programs.<br />More electronic <br /> “guardian angels” and <br />other new technologies<br /> An Industrial Age is when<br />Manufacturing and Construction<br /> dominate the economy<br /> (c. 30-50%+ of GDP) <br />GDP $ billion<br />IC&T the<br />Infotronics<br /> Age utility<br />Electricity, gas & water, and telephony,the Industrial Age utilities<br />Year, ended June<br />IBISWorld 26/05/11<br />
  7. 7. The Big Changes For Enterprises In The New Age, 1965-2040s<br />Business reverses from production to market orientation<br />Protectionism fades, and international trade grows<br />Goods industries lose importance as share of GDP<br />Over 100 new service industries emerge <br />New utility (IC&T), adding to old (electricity, telephony etc)<br />Outsourcing of non-core functions and activities<br />Importance of intellectual property (IP) over hard assets<br />OH&S becomes de rigueur; ditto world best practice (WBP)<br />Old style employment gives way to contractualism<br />SMEs increase share of economy (new industries, outsourcing)<br />Emergence of franchising, and strategic alliances<br />Adopting an information mindset, a condition of survival<br />
  8. 8. Expectations of a New Age business<br />Profitability and growth<br />ROSF (after tax) of 4 times the bond rate<br />Growth better than the industry average <br />International expansion where possible<br />Uniqueness in:<br />Product, IP and operations<br />Organisational culture<br />World best practice in:<br />Operations<br />Value for money for customers<br />Respect for the society in which it operates<br />Relations with other stakeholders<br />Treatment of the natural environment<br />
  9. 9. Australian Profitability by Cohorts Return on Shareholder Funds (after tax), 1300Best Large Enterprises 5 years to F2010<br />183.1<br />23% > Best Practice (ROSF 22.4%)<br />34% > Average (ROSF 15.3%)<br />41% > Cost of capital (12.2%)<br />64% > Bond Rate (5.6%)<br />17% Losses<br />14.2<br />-12.2<br />-40.0<br />Percent<br />Source: IBISWorld22/11/10<br />
  10. 10. Australian Profitability By Major Industries Return on Shareholder Funds (after tax), Top 1350 businesses5 years to F2010<br />4.1<br />8.2<br />ROSF (%)<br />Source: IBISWorld22/11/10<br />
  11. 11. Australian Profitability By Major Industries Return on Shareholder Funds (after tax), Best 1005 years to F2010<br /> 4 companies<br /> 16 companies<br /> 3 companies<br /> 1 company<br /> 9 companies<br /> 21 companies<br /> 10 companies<br /> 6 companies<br />23 companies<br /> 1 company<br /> 4 companies<br /> 1 company<br /> 1 company<br />Includes private enterprises<br />42.2<br />41.6<br />Percent<br />Source: IBISWorld 25/02/11<br />
  12. 12. Corporate Profitability to 2010 <br /> (Return on Shareholders Funds, after tax)<br />USA Largest<br /> 30 Listeds<br />ROSF (%)<br />Australian<br />Largest 30 Listeds<br />
  13. 13. 3.The Intelligent Organisation<br />
  14. 14. The Total Environment For My Business <br /> W O R L D<br /> N A T I O N A L R E S O U R C E S <br /> C O M M U N I T Y <br /> E C O N O M Y <br />Marketplace<br />Government<br />Our <br />Purchases<br /> Its Own Industry<br />A N Z S I C C l a s s<br /> My<br />Firm<br />(Equity Debt)<br />Finance<br />Labour<br />Services<br />© IBISWorld<br />
  15. 15. Some of The Developments & Challenges<br />World Environment<br />Basaically strong growth<br />Rising energy prices<br /> Impact of BRIC<br /> Emerging borderless world<br /> Terrorism and epidemics<br />Resource Environment<br />Mining, Infrastructure, IC&T <br />Ecological challenges<br />Community Environment<br /> Living longer, ageing<br /> Geographic shifts<br /> Generational differences <br /> Changing spending patterns<br />Polarisation of incomes & wealth<br />Economic Environment<br /><ul><li> High confidence levels
  16. 16. Sustained strong growth
  17. 17. Growth in services Vs goods
  18. 18. Rising trade as % of GDP </li></ul>Labour Environment<br /><ul><li> Emerging sellers market
  19. 19. Skill shortages
  20. 20. Move to contractualism
  21. 21. Lifelong education & training </li></ul>Government Environment<br /><ul><li> Rationalism Vs humanism
  22. 22. Balanced/surplus budgets
  23. 23. Among lowest taxed in OECD
  24. 24. Excessive laws & regulations</li></li></ul><li>Marketplace Environment<br /><ul><li> Service products dominant
  25. 25. Offshore markets
  26. 26. Changing advertising mix
  27. 27. Rationalisation of markets
  28. 28. Importance of CRM programs</li></ul>Industry Environment<br /><ul><li> 465 classes of industry
  29. 29. Lifecycle phase of industry
  30. 30. Service industries dominant
  31. 31. Rising foreign ownership
  32. 32. Less government ownership
  33. 33. ACCC & ASIC
  34. 34. Progressive rationalisation</li></ul>Finance Environment<br /> Managed funds growth<br /> Ease of access to capital<br /> Rising interest rates<br /> Exchange rate volatility<br /> Rising fees <br />Services Environment<br /> Growth due to outsourcing <br />Appetite for information/advice<br /> Rising legal and A/C costs <br />Goods & Materials <br /> Rising commodity prices<br /> More sourcing offshore <br /> Falling importance within GDP<br />
  35. 35. In the Industrial Age businesses generally planned and operated on an inside-outbasis. <br />The external business environments were <br /> largely opaque to an enterprise which tended to <br /> be fortress style; and enterprises were opaque to <br /> outsiders who saw enterprises as secretive.<br />In the New Age businesses must now forecast, plan and operate on an outside-in basis.<br /> The business environments are becoming transparent to enterprises, and in turn the enterprises <br /> are becoming more transparent to outsiders.<br />
  36. 36. How much do weneed to know about . ..<br />The Influential Environments (4)<br /> 1. The world environment,growth, regions, nations, demography etc. ?<br /> 2. National resources,developed(infrastructure, IC&T), natural (resources, ecology)?<br /> 3. Our community,its changing demography, lifestyles and spending ?<br /> 4. The economic environment,the “business weather” conditions?<br />The Operating Environments (6)<br /> 5. The government environment,laws, taxes, policies, incentives?<br /> 6. The finance market,equity, debt, exchange/interest rates, treasury ?<br /> 7. The services market,to outsource none-core activities and functions ?<br /> 8. The labour market,for executives, employees and customers?<br /> 9. The purchases market,raw materials, semi-/finished goods, prices ?<br /> 10. Its market,local and global?<br /> The Immediate Environment Our own industry, WBP, size, growth & disposition, competitors? <br />OurOwn Business<br /> Its IP, financials, sales, operations, TQC, productivity, R&D, HR etc. ?<br />
  37. 37. The Key Questions<br />I. What are the golden rules for being a successful and world best practice (WBP) business?<br />II. What business or businesses are we in (as officially defined by ANZSIC class, not arbitrarily)? <br />III. What makes our industry tick, and where is it going?<br />IV. How well do we do in our industry and at large <br />V. What market or markets do we serve?<br />VI. What is happening to the business environment within which we operate?<br />VII. Do we have a winnable strategy and business plan? <br />VIII. Are we appropriately structured with a professional first line team and operationally managed to achieve a winnable strategy?<br />
  38. 38. Business IntelligenceExpenditure on data and information,F2011(E)<br /> Sales analysis<br /> Personnel<br />Internall y Generated<br /> 64.5%<br />Operational<br /> analyses etc.<br /> 35.5%<br /> Externally Sourced <br /> R&D, <br />Innovation<br /> Finance &<br /> Accounts <br />5.6% of all business revenue<br /> ($ 215 billion in Australia)<br />IBISWorld 30/09/11<br />
  39. 39. Nearly two thirds of all business data, information and intelligence in Australia in F2010 will be internally generated.How much value-adding do we do with this, to help with planning, efficiency, revenue growth, CRM and profitability?<br />
  40. 40. Internally Generated Information? 65% of all business spending<br />ICT<br />Marketing & PR<br />S t a f f & E m p l o y e e s<br />R&D QC<br />Distribution<br /> Human <br />Resources<br /> Senior Mgt.<br /> CEO <br /> & <br />Board<br />Finance & <br /> Accounts<br />CIO?<br />Operations <br />IC&T<br />$140billion in Australia in F2011<br />© IBISWorld<br />
  41. 41. Over one third of all spending on data, information and intelligence by enterprises in F2010 will be outsourced.This proportion has been steadily increasing from less than 10% half a century ago to an estimated 35.5% this year.We are spending more on information and also outsourcing more of it.<br />
  42. 42. Note: 1 Public Relations <br /> Credit Agencies <br /> O ther 0.7 <br />2 Includes accommodation, <br /> travel, registration <br /> fees, speakers etc<br /> Type Of Outsourced Business Information Australia F2010 (E)<br />Exploratory<br />News/ <br />Books/ <br />Mags. <br />1.2%<br />Scientific<br />Research<br />Other1<br />Conferences/<br />Meetings2<br />Online Info 2.0%<br />ISPs 1.7%<br />Data Process 1.5%<br />Mkt. Research 1.3%<br /> 2.2%<br />3.1%<br />5.8%<br />Cons. Eng. + <br />Architects<br />26.2%<br />Data/Informn. 6.5%<br />Associations 6.7%<br />Env. Serv. 7.7%<br />Accounting<br />Services <br />20.3%<br />Mgt. Consulting <br /> Legal <br />Services <br />9.7%<br />10.6%<br /> Note: 1 Public Relations <br /> Credit Agencies <br /> O ther 0.7<br />2 Includes accommodation, <br />travel, registration <br /> fees, speakers etc<br />2% of national revenue<br /> ($68.8 billion Expenditure) <br />IBISWorld 18/11/09<br />
  43. 43. Purpose Of Outsourced InformationAbout What?F2010 (F)<br />Exploratory<br />Government 1.0%<br />World 0.8%<br />Services 0.5%<br />Resources 0.5%<br /> Community1.5%<br />Labour2.0%<br />Economy2.5%<br /> Purchases 2.9%<br /> Finance 3.0%<br />Market4.0%<br />Own Industry 9.8%<br />71.6%AboutOur<br />Own Company1<br /> From Accounting firms, Legal firms, <br /> Management Consultants, <br />Consulting Engineers etc<br />Spending on information about <br />the external environment ($19.5<br />billion) is 28% of all outsourced <br />spending and 10% of all spending <br />$ 68.8 billion expenditure<br /> (Australia)<br />IBISWorld17/11/10<br />
  44. 44. Of all the business spending on data, information and intelligence - $195 billion - only 10%is spent on issues in the external environment. But this spending is growing nearly 2% pa faster than the economy in response to the need to plan on an outside-in basis, displacing the old inside-out approach of the secretive Industrial Age?<br />
  45. 45. The Imperative of Going Up The Information Chain<br />
  46. 46. The Knowledge Pyramid<br />By Value<br />By Volume<br />Vision & Strategy<br />Vision<br />Vision<br />Expert Opinion<br />Unique IP<br />Unique<br />IP<br /> Decreasing <br /> Value<br /> Wisdom<br /> Wisdom<br /> Expert Opinion<br />Expert Opinion<br />Intelligence<br />Intelligence<br /> Increasing <br /> Value <br />Information<br /> Information<br />Data<br />Data<br /> Hearsay<br />But interesting!<br /> Hearsay, Rumour, Scuttlebut<br />Source: IBISWorld 18/11/09<br />
  47. 47. 4.The Innovation & Productivity Imperative<br />
  48. 48. Standard Of Living Ladder GDP/capita($USppp’000)2010 <br />PopulationAustralia 22.5<br />12 of the Top 20 have <br />populations smaller<br /> than Australia<br />IMF: 04/04/11<br />
  49. 49. Productivity GrowthChange inGDP/hours worked1903-2011 (3-year moving average)<br />1.7% per annum <br />New Age average<br />(1965- onwards )<br />Average to 1964 (the Industrial Age) 2.07<br />Average after 1964 (Infotronics Age) 1.65<br />Year Ended June<br />ABS/IBISWorld 30/09/119<br />
  50. 50. ProductivityGDP per hours worked (4-quarter moving average) to June 2011<br />New Age average <br />1.7% per annum<br />Source: ABS Cat NO 5206.0IBISWorld 15/08/11<br />
  51. 51. Australian Industries Productivity5 year growth to F2011, % p.a(IGP / hour worked)<br />Long term average productivity 1.8% pa<br />The shortfall of 1.2% pa over the past 5 years <br />fully explained by Mining and Utilities which <br />were both shockingly negative<br />Percent Growth<br />Source: ABS 5204.25 07/09/11<br />
  52. 52. 5.Keys To Success <br />
  53. 53. What the Best Enterprises Are Doing<br /> 1. They stick to one business at a time and do not diversify<br /> 2. They aim to dominate some segment (s) of their market<br /> 3. They are forever innovative,valuing the business’ IP.<br /> 4. They outsourcenon-core activities to enable growth.<br /> 5. They don’t own “hard” assets.<br /> 6. They havegood and professional financial management.<br />7. They plan from the outside-in not the inside-out<br /> 8. They anticipate any new industry lifecycle changes.<br /> 9. They follow world best practice for their own type of business.<br />10. They developstrategic alliances.<br />11. They develop unique organisational cultures.<br />12. They valueleadership first and management second.<br />
  54. 54. 1. Stick To One Business At A Time(Focus)<br />In the New Age, specialisation is critical - being in just one of the nation’s 465 classes of industry. It is very difficult to reach world best practice in even one industry class these days. Growth is best sought geographically (regional, global) rather than through diversification.<br />And yes, there are some exceptions, but not many.<br />See next slide.<br />
  55. 55. The 100 Best CompaniesROSF after tax (%), 5-Year Average to F2010<br />By Focus<br /> Focused (mainly single industry class)99 74.0%<br /> Theme Conglomerates 1 117.3%<br /> Classic Conglomerates 0 -<br /> 100 74.2%<br />By Ownership<br />Foreign Owned5057.3%<br />Private16 348.4%<br />Listed34 59.0 % <br /> 10074.2%<br />Notes:1 Excludes monopolies. <br /> Revenue $62 billion (1.7% of nation’s total revenue) Source: IBISWorld 23/02/11<br />
  56. 56. 2.Aim To Dominate Something (Positioning)<br />Secure a safe industry position in your chosen industry to be master-of one’s-own-destiny by dominating something. <br />Domination can be of:<br />the whole industry class (being a major); or<br />one category in the industry (a niche player); or<br />one product group1 (an ultra-niche player); or <br />one product category ( a boutique operator).<br />Note: 1 Or a customer segment; and occasionally a geographic area<br />
  57. 57. Industry Share Strategy(positioning for a winnable war)<br />No-man’s-land (un-winnableposition)<br /> Caught between nichers (“knee-cappers”)<br /> and ultra-niche players (“ankle-biters”)<br /> Ultra-niche specialist (1%)<br /> Niche Player <br />Exotic/boutique operator (0.1%)<br />1-5<br /> %<br /> 5%<br /> No-man’s-land <br />Major Player<br />25-75%<br /> 5-25%<br />No-man’s-land (un-winnableposition) <br /> Caught between majors (“sledgehammers”)<br /> and niche players (“knee-cappers”) <br />Source: IBISWorld<br />
  58. 58. A “major” player (ie25%+ of an industry’s revenue) needs to have 35-50% shares of the product groups in which they choose to compete.<br />A “niche player” (5% of an industry’s revenue) needs to dominate a market segment (50%+ share), usually product based but can sometimes be geographic based. <br />An “ultra niche” specialist (1% of an industries revenue) dominates a product group with a 75%+ share.<br />A “boutique” or “exotic” operator (0.1% share of the industry’s revenue) owns a product line outright with no competitors.<br />
  59. 59. 3.Forever Innovative(Pursuing Intellectual Property)<br />Patents, formulae, unique technology, processesandbrands were valued in the Industrial Age, but rarelyreflected in balance sheets.<br />In the New Age,intellectual property is a morecomplex“cocktail”. It consists of skills, specialcompetencies, unique systems, winning cultures - as wellas patents, copyright, unique formulae, uniquetechnology & processes, brand & mast-head strength etc.<br />It is the "holy grail" of an enterprise, its core and its most valuable balance sheet asset - whether recorded as suchin dollar terms or not.<br />
  60. 60. Intellectual Property<br />Intellectual property can best be described as a “cocktail” of: <br /><ul><li>skills, special competencies, unique systems;
  61. 61. patents, trademarks & brands;
  62. 62. organisational culture, customer relation protocols;
  63. 63. vision, plans and documented achievable strategies.</li></ul>It is the "holy grail" of a enterprise, its core and its most valuable balance sheet asset, whether recorded as such in dollar terms or not.<br />
  64. 64. 11. Developing A Unique Culture<br />A unique culture is about attracting and keeping <br />good people to your business, and helping develop ordinary people into extraordinary people.<br />This is built on a base of world best practice principles of human resources management. But a unique culture goes well beyond the basics: it needs to have special elements of both a tangible and intangible nature.<br />No matter how often we say it, employees are not a firm’s most valuable asset, since slavery has been outlawed for some considerable time! But they can be “valued”, and a unique culture is vital to this goal.<br />
  65. 65. 12. Leadership<br />Leadership sits above management. It is, by nature, demanding of special attributes such as loneliness in ultimate decision making (after full consultation), with no voting. And, sometimes, no consensus. <br />It is non-gender specific (unlike management which favours females in the New Age of service industries).<br />Leadership involves more external focus than internal: the opposite of management.<br />Apart from listening to experts and confidantes, it involves communicating directly with major customers at least once a year.<br />
  66. 66. 6.Australia’s Global Context<br />
  67. 67. World GDP GrowthReal growth (PPP), 1950-2012(F)<br />2008 3.2% <br />2009 -0.7% *<br />4.1% <br />3.6% (F)<br /> 3.7% (F)<br />Purchasing Power Parity (PPP) terms<br />1950-1969 growth<br />in US$ market terms<br />* The world decline in 2009 was -2.0% when <br />measured in $US market price terms<br /> IMF/Economist//IBISWorld: 11/09/11<br />
  68. 68. World’s 30 Largest Economies2011 (F)<br />Netherlands0.9%<br />Argentina0.8%<br />Saudi Arabia0.8%<br />Thailand 0.8%<br />S. Africa 0.7%<br />Egypt 0.6%<br />Pakistan 0.6%<br />Colombia 0.6%<br />Malaysia 0.6%<br />Belgium 0.5%<br />Purchasing Power Parity (PPP) terms<br />Rest of World<br />(198 nations)<br />16.1%<br />19.4% USA<br />21 - 30th Nations 6.4%<br />11th – 20thNations14.6%<br />14.3%China<br />Italy <br />France <br />Brazil <br />UK <br />Japan<br /> Russia<br />India<br />Germany<br />2.3%<br />2.6%<br /> 2.7%<br />6.4%<br />2.9%<br />3.9%<br />3.0%<br />5.1%<br />Mexico 2.1%<br />S. Korea2.0%<br />Spain1.8%<br />Canada 1.8%<br />Indonesia 1.4%<br />Turkey 1.3%<br />Australia 1.2% 17th<br />Iran 1.1%<br />Taiwan 1.1%<br />Poland1.0%<br />World’s 228 nations <br /> US$ 78.1 trillion<br />IMF/IBISWorld 08/02/11<br />
  69. 69. World’s 30 Largest Economies 2015 (F) <br />Netherlands0.8%<br />Argentina0.8%<br />Thailand 0.8%<br />S. Africa 0.7%<br />Egypt 0.7%<br />Pakistan 0.6%<br />Colombia 0.6%<br />Malaysia 0.6%<br />Nigeria0.6%<br />Belgium 0.5%<br />Purchasing Power Parity (PPP) terms<br />Rest of World<br />(198 nations)<br />13.7%<br />18.7% China<br />21 - 30th Nations 6.8%<br />11-20thNations14.0%<br />Mexico 2.1% <br />18.1% USA<br />France <br />Brazil <br />UK <br />Russia<br />2.6%<br />Japan<br />India<br />Germany<br />2.7%<br /> 2.9%<br />3.0%<br />3.5%<br />6.4%<br />5.1%<br />Italy2.0%<br />S. Korea1.9%<br />Canada1.6%<br />Spain1.6%<br />Indonesia 1.5%<br />Turkey 1.2%<br />Australia 1.1% 17th<br />Iran 1.0%<br />Poland1.01%<br />S. Arabia0.8%<br />World’s 228 nations <br /> US$ 99.3 trillion<br />Wikipedia & iBISWorld 08/02/11<br />
  70. 70. The World’s Economic Regions In 2011(F)Share of World GDP (ppp basis)<br />Eastern<br />Europe<br />3.7%<br />W&C Europe<br />21.7%<br />North <br />America<br />23.3%<br />Indian<br />S-C<br />6.8%<br />ME<br />5.4%<br />Asia <br />Pacific<br />28.9%<br />Africa<br /> 3.9%<br />C&S<br />America<br />6.3%<br />2011 World GDP, $US 78.1 trillion <br />IBISWorld08/02/11<br />
  71. 71. World Regions ImportanceChanging importance, % of World GDP (ppp terms) <br />1870 1913 1950 2015 (F) Year<br />Nth America<br />C & S America<br />Western Europe <br />Eastern Europe<br />3.6%<br />12.2%<br />7.6%<br />1.1 2.7 5.3 99.3 GDP (trillion)<br /> Source: OECD 08/02/11<br />
  72. 72. Asia Pacific EconomyGDPppp terms2011<br />Singapore 1.4% <br />Vietnam 1.3% <br />NZ 0.6% <br />Myanmar 0.4% <br />Cambodia 0.1% <br />Laos 0.1% <br />PNG 0.1%<br />Other 1.1%<br />Phillipines<br />Malaysia<br />Thailand<br />2.8%<br />Others<br /> 5%<br />Indonesia<br />Australia <br /> 4.1%%<br />1.9%<br />1.6%<br />2.8%<br />4.8%<br />47.2%China<br />*Korea7.0%<br />Japan 20.2%<br /> Taiwan<br />HK<br />3.8%<br />1.5%<br />*North Korea 0.19% <br /> South Korea 6.93%<br />$21.2 trillion total<br />Source: International Monetary Fund, Oct 2010<br />
  73. 73. Asia EconomyAsia Pacific + Indian S-Cppp terms2015 (F) <br />Other A-P<br />0.3%<br />Other <br />Indian S-C<br />3.1%<br />Greater China<br />47.9%<br />Singapore 1.0%<br />Vietnam 1.1%<br />Philipp 1.2%<br />Malaysia 1.5%.<br />Thailand 2.0% <br />India<br />16.4%<br />44.0%China<br />Australia 2.9%<br />Indonesia 3.9% <br />South Korea5.0%<br />13.0%<br />Japan<br />Taiwan <br /> NZ<br />0.4%<br />2.8%<br /> H/K 1.1%<br />$US 38.9 trillion<br /> (39.8% of world GDP)<br />Source: Wikipedia/ IBISWorld 18/02/11<br />
  74. 74. Economic Growth:ChinaReal growth1950-2012(F)<br /> 8.2% <br />average<br />SSBC/IBISWorld: 18/09/11<br />
  75. 75. Economic Growth IndiaReal GDP growth1950-2012 (F)<br />Growing<br /> faster<br />SSBC/IBISWorld: 18/09/11<br />
  76. 76. Economic Growth IndonesiaReal GDP growth 1950-2012 (F)<br /> 6.0% <br />average<br />SSBC/IBISWorld: 18/09/11<br />
  77. 77. Economic Growth JapanReal GDP growth 1950-2012 (F)<br />1961-1976<br />8.5% pa<br />1977-1991<br />3.8% pa<br />1992-2007<br />1.4% pa<br />SSBC/IBISWorld: 27/09/11<br />
  78. 78. Economic Growth: AustraliaReal growth 1961-2012 (E)<br />3.5% average<br />SSBC/IBISWorld: 27/09/11<br />
  79. 79. To download this presentation go to: www.ibisworld.com.au<br />Enter details here to download presentation<br />r u t h v e n<br /> A C T K M<br />

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