According to the NYSE Euronext 2009 CEO report, the current US and global economic conditions would separate the best companies from great ones. “A renewed focus on a strong balance sheet, strategic acquisitions, operational efficiency, sound management practices, as well as attracting and retaining the best workforce are the key to future growth during turbulent economic times,” the report said. The fourth annual survey of CEOs of NYSE Euronext-listed companies was conducted from February 29 to March 31 and 254 CEOs participated in the study. About 72 per cent of the CEOs surveyed are based in the US while 28 per cent are from the non-US companies.

About two-third of the CEOs view BRIC (Brazil, Russia, India and China) nations as an opportunity. Pointing out that “sensible acquisitions and expansions are targeted in BRIC countries”, the report said that out of the CEOs from non-US firms, nearly eight in 10 saw these nations as an opportunity. “The majority say they would maximise their opportunity in the BRICs countries by establishing or expanding local marketing and sales activity,” it said.

However, K V Kamath of India’s largest private sector lender ICICI Bank was quoted as saying, “Global companies have to adapt to operate in markets with very high growth rates. It puts a strain on manufacturing capabilities and demand for talent.” A majority of CEOs surveyed believe that changes in American legal and regulatory systems would have a positive impact in the competitive position of the US capital markets. “US-based CEOs are more optimistic about the impact these will have, compared with the non-US-based CEOs. US-based CEOs are less likely to believe a convergence of international accounting standards would have the same positive impact,” the survey said.

Facing tougher economic conditions, nearly half of the CEOs, especially those heading financial services businesses, said it would be more difficult to attract investors. “The proportion of CEOs saying it is more difficult to attract investors has risen to almost one out of three. Almost half (45 per cent) of the CEOs running financial services businesses are finding it more difficult to attract new investors and retain existing investors,” the report said.

Regarding corporate social responsibility, 41 per cent CEOs felt the most important corporate responsibility task was ensuring all labour practices were ethical across their organisation. Those based outside the US believed formalising corporate responsibility positions and policies to be the second most important action.