Wednesday, September 8th, 2010 - The Executive Connection
With all the debate over utility price hikes and its impact on business in Western Australia the surprising fact is many CEOs aren’t overly concerned by the continued electricity increases.

The latest tariff increase on 1 July is expected to result in a $7.29 per week or $379 annual price rise for an average business.

In a Instant Poll of business leaders, conducted by leading CEO executive mentoring group The Executive Connection (TEC), the majority of CEOs (55 per cent) said the price increase was having negligible impact on their business.

TEC WA coordinator John Cluer said this result shows business are able to offset this price rise as a result of a strong Western Australian economy.

“The fear was that the expected utility increases would feel like yet another cost increase that a business owner would have to bear,” Mr Cluer said.

“However, with a Western Australian unemployment rate at a low 4.1 per cent compared to 5.7 per cent at this time last year the poll supports the understanding that the major issue for many companies is not cost reduction or a lack of available credit. Instead their focus is on attracting and retaining quality staff and driving continued growth in what is a strong economic market.”

Mr Cluer said the economic environment being faced by many CEOs had thrown up many challenges that many senior executives had not encountered previously.

“Businesses are now confronted with more competition in the marketplace, problems with finding quality staff, implementing new technology and these businesses have often grown to the point where current processes are causing inefficiencies,” he said.

“Effectiveness of top level management has become more important than ever to achieve continued business success.

“Often we find the challenges being experienced by CEOs have been addressed through our monthly mentoring sessions. These sessions provide a chance to brainstorm ideas and learn from other business leaders who have been faced with a similar problem in the past.”

TEC Poll participants are drawn from more than 1,200 CEOs and business leaders across Australia.

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The Executive Connection


The Executive Connection (TEC) is the Australian affiliate of Vistage International, Inc. with more than 14,500 members in 16 countries worldwide. It is the world’s foremost chief executive leadership group for ongoing professional and personal development, helping business CEOs become better leaders, make better decisions and drive better results for their organisations. TEC membership provides unparalleled access to new ideas and fresh thinking through monthly peer think-tanks, one-on-one business coaching and speaker presentations from the top industry experts, social networking and access to best practice articles, white papers and webinars.

TEC was founded in 1957 by US businessman Robert Nourse, to test a simple, yet revolutionary idea; business leaders sharing knowledge and experiences to help other business leaders to generate better results for their organisations. The idea was a great success and subsequently, TEC began in Australia in 1986 and currently has more than 1200 members. TEC / Vistage member companies generate nearly US$300 billion in annual revenue and employ approximately 1.8 million employees around the world.
John Cluer
P: 0419 938 480
W: www.tec.com.au

Andrew Mathwin

P: 08 93880944
M: 0414435654
W: www.ppr.com.au

Keywords

TEC, rising costs, utilities, management, business, small business, poll, election

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