The Maltese regulator has found a new chef executve

By WebMaster ｜ 2024-06-284: 38: 05+02: 00 JUNE 28, 2024

The Malta Cooperative Federation (MCF) has announced that it has appointed Claudio Fallurgia as a new highest executive officer. Fallurgia has been the CEO since the establishment of the MCF 12 years ago, and has taken over Laurent Michalev Atard, who has been steering on the Federation's remarkable growth and numerous challenges. Falda was officially introduced to the MCF member cooperative at an annual general meeting held on Thursday, June 27. His appointment means taking a new step for the Federation, which continues to support and defend a collaborative company throughout Malta. Claudio Farulgia has a wealth of experience in new duties. he [...]...

21 04, 2024

CECOP Manifesto for the upcoming MEP Elections

By WebMaster ｜ 2024-04-21T19: 11: 45+02: 00 April 21, 2024 ｜ Category: News

The Federation of European Cooperative Associations (CECOP), which is active in the industrial and service industry, has announced a manifesto for the 2024 European Assembly election. Cecop's priority issues from 2024 to 2029, which speak for the voices of 40, 000 workers 'cooperatives, social cooperatives, and autonomous workers' cooperatives, are hig h-quality employment and sustainable. It is a strong r e-industrialization and innovation for everyone. CECOP's representative cooperatives have hired 1. 3 million people. These cooperatives are democratic companies and are strongly built into the local community, and have invested in most of their profits to ensure the sustainability of their activities. Download manifest

16 08, 2023

MCF submits its proposals for Malta Budget 2024

By WebMaster ｜ 2023-08-24T11: 23: 09+02: 00 August 16, 2023 ｜ Category: News

The Malta Cooperative Federation has submitted a proposal for budgets in FY2024 to the Malta government. This proposal aims to create a more cooperative economy, which is given priority over profits. A cooperative model based on the participation of democratic union members and the fair distribution of wealth, Malta wants to find a new economic model that respects the local community, gives priority to the whole happiness of the people, and finds a sustainable new economic model. It is a natural solution. Proposals include the establishment of a task force that makes proposals on the framework of regulations on workers (the workers buying a workplace), and the renewal of laws that regulate workers' baiouts.

25 07, 2023

Malta Cooperative Federation & University of Malta Sign MOU

By WebMaster ｜ July 25, 2023 2023-07-25T17: 06: 47+02: 00 ｜ Categories: News

Today, the University of Malta (UM) and the Malta Cooperative Federation (MCF) signed MOU with the aim of cooperating to promote the business of the cooperative model. UM and MCF have already cooperated with UM students to promote this model. Through this mou, both promise to further improve the already established cooperation: promote corporate cooperation models to all UM students. Explore the fields that can cooperate with UM students. Launch a new cooperative company. Providing UM students with internship opportunities in a cooperative environment. [...].

17 05, 2023

MCF presents report to Malta Enterprise on accessibility of funding for coops

By WebMaster ｜ 2023-05-17T15: 39: 22+02: 00 May 17, 2023 ｜ Category: News

The Malta Cooperative Federation proposed to submit a report to Malta Enterprise as part of the activities to promote the economy of the cooperative, so that all Malta Enterprise schemes can be used by cooperatives. The report includes an analysis of all 27 schemes of Malta Enterprise, evaluation of whether the cooperative can use a scheme, and specific suggestions for the c o-op that cannot be completely used by the cooperative. The MCF report pointed out that while many Malta Enterprise schemes have not been opened in the cooperatives, some schemes need to be updated so that cooperatives can be fully used. It's MCF [...] ...

8 05, 2023

MCF and SEAM sign MOU

By WebMaster ｜ 2023-05-08T17: 47: 03+02: 00 May 8, 2023 ｜ Category: News |

Today, the Federation of Malta Cooperative Association and the SEAM-SEAM-Social Entrepreneurs Association have agreed to cooperate in the development and promotion of the social economy in Malta and signed a memorandum. Social economy includes companies that prioritize people over profits and r e-invest for most profits. The social economy has a great potential in all the economic fields in Malta, and the signing of this MOU will cooperate with two organizations that are already active in this field. Let's get stronger together

MCF Blog

Welcome to the Malta Cooperative Federation blog. In this section, you can see news, the latest blog posts by CEO, interesting articles collected from the Internet, and other interesting features.

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87, St. Ursula Street, Valletta

Copyright 2012 - 2021 | Malta Cooperative Association | Developed by Mediacoop Ltd. | All rights reserved.

Thriving in an age of continuous reinvention

Twelve months ago, nearly 40% of CEOs worldwide reported that they believe their companies will not be viable in 10 years’ time if they continue on the current path. Thousands of conversations were held between PwC partners and CEOs around the world. “Are we in the 40% or the 60%?” was the question many CEOs asked themselves and their top teams during and after these discussions. Almost without exception, leaders who predicted the magnitude of change concluded that a more transformative approach was needed for their organizations to thrive in the coming decades.

CEOs believe their companies will not be viable in 10 years’ time if they continue on their current path.

• The impetus for reform is growing. CEOs expect the next three years to bring more pressure from technology, climate change and almost every other megatrend impacting global business than they have experienced in the past five.
• Of the 45% who are not confident in their company's survival, survival-conscious CEOs are slightly more likely than other CEOs to take action aimed at reinventing their business model. CEOs of small companies are more likely than CEOs of large companies to feel their company's survival is threatened.

• CEOs perceive huge inefficiencies across a range of their company's daily tasks, from decision-making meetings to email, and consider about 40% of the time spent on these tasks to be inefficient. A conservative estimate of the cost of this inefficiency is the equivalent of a US$10 trillion tax on productivity. Generative AI, which about 60% of CEOs expect to benefit from efficiency, could help ease the daily burden.

• Four in 10 CEOs say they are willing to accept a lower hurdle rate for climate-conscious investments than for other investments. This is clear evidence that some CEOs are willing to make complex trade-offs to make their businesses more sustainable. 87, St. Ursula Street, Valletta

• Copyright 2012 - 2021 | Malta Cooperative Association | Developed by Mediacoop Ltd. | All rights reserved.

Twelve months ago, nearly 40% of CEOs worldwide reported that they believe their companies will not be viable in 10 years’ time if they continue on the current path. Thousands of conversations were held between PwC partners and CEOs around the world. “Are we in the 40% or the 60%?” was the question many CEOs asked themselves and their top teams during and after these discussions. Almost without exception, leaders who predicted the magnitude of change concluded that a more transformative approach was needed for their organizations to thrive in the coming decades.

Explore the findings Click on a section to navigate:

The reinvention imperative

CEOs believe their companies will not be viable in 10 years’ time if they continue on their current path.

• The impetus for change is intensifying. CEOs expect more pressure in the next three years than they have experienced in the past five years from technology, climate change, and almost every other megatrend impacting global business.
• Of the 45% who are not confident in their company's survival, survival-conscious CEOs are slightly more likely than other CEOs to take action aimed at reinventing their business model. CEOs of small companies are more likely than CEOs of large companies to feel their company's survival is threatened.

Looming existential change

CEOs perceive huge inefficiencies across a range of their company's daily operations, from decision-making meetings to email, and consider about 40% of the time spent on these activities to be inefficient. A conservative estimate of the cost of this inefficiency is the equivalent of a US$10 trillion tax on productivity. Generative AI, which about 60% of CEOs expect to benefit from efficiency, could help ease the daily burden.

• Four in ten CEOs say they are willing to accept a lower hurdle rate for climate-conscious investments than for other investments. This is clear evidence that some CEOs are willing to make complex trade-offs to make their businesses more sustainable. 87, St. Ursula Street, Valletta
• Copyright 2012 - 2021 | Malta Cooperative Association | Developed by Mediacoop Ltd. | All rights reserved.
• Twelve months ago, nearly 40% of CEOs worldwide reported that they believe their companies will not be viable in 10 years' time if they continue on the current path. Thousands of conversations were held between PwC partners and CEOs around the world. "Are we in the 40% or the 60%?" was the question many CEOs asked themselves and their top teams during and after these discussions. Almost without exception, leaders who predicted the magnitude of change concluded that a more transformative approach was needed for their organizations to thrive in the coming decades.

Your reinvention playbook

CEOs believe their companies will not be viable in 10 years' time if they continue on their current path.

• The impetus for reform is growing. CEOs expect the next three years to bring more pressure from technology, climate change and almost every other megatrend impacting global business than they have experienced in the past five.
• Of the 45% who are not confident in their company's survival, survival-conscious CEOs are slightly more likely than other CEOs to take action aimed at reinventing their business model. CEOs of small companies are more likely than CEOs of large companies to feel their company's survival is threatened.
• CEOs perceive huge inefficiencies across a range of their company's daily tasks, from decision-making meetings to email, and consider about 40% of the time spent on these tasks to be inefficient. A conservative estimate of the cost of this inefficiency is the equivalent of a US$10 trillion tax on productivity. Generative AI, which about 60% of CEOs expect to benefit from efficiency, could help ease the daily burden.
• Four in ten CEOs say they are willing to accept a lower hurdle rate for climate-conscious investments than for other investments. This is clear evidence that some CEOs are willing to make complex trade-offs to make their businesses more sustainable.

The reinvention imperative

1. An enduring imperative to reinvent

Meanwhile, two-thirds of CEOs report reallocating resources (financial and human) less than 20% year-over-year. The link between reallocation, reinvention, and financial performance suggests that to some extent active re-allocation is necessary to succeed.

The stakes are high, but so is CEO awareness of both the urgency of change and the need to deliver sustainable outcomes for stakeholders and society. To clarify the nature of the challenges and opportunities associated with meaningfully reinventing business, this year's report is structured across three thematic nine sections.

Examines CEOs' concerns about the current state of the economy and the long-term viability of their business models.

2. Pressures and threats

1. The relentless call to reinvent

2. Pressures and threats

Examines two megatrends: climate change and technological disruption.

Looming existential change

3. Planetary work in progress

3. The ongoing planetary engagement

4. AI opportunities

• 5. AI challenges
• Outlines essential actions companies need to take to jump-start sustained reinvention.

6. Turn barriers into opportunities

7. Pinpoint the most important moves

8. Recalibrate expectations on climate priorities

4. The AI opportunity

9. Keep your antennae up

A whopping 97% of respondents to PwC’s 27th annual Global CEO Survey report taking some steps in the past five years to change how value is created, delivered, or captured. During that time, 76% of CEOs have taken at least one action that will have a large or very large impact on their company’s business model. Forty-five percent of respondents question whether their company’s current trajectory will remain viable for the next decade or more, up from 39% just 12 months ago.

CEOs’ growing concerns about their companies’ viability do not seem to reflect near-term economic uncertainty. For example, CEOs are less likely to expect a decline in global economic growth than they were a year ago, and significantly more are expecting growth to improve in 2024 (38% vs. 18% last year). Yet CEOs are not entirely optimistic. Slightly more CEOs expect the global economy to contract next year than those who expect it to improve. CEOs are also slightly less confident than last year about their companies' revenue growth prospects over the next 12 months and three years.

Next hand: Understand and accept continuous reforms. As the pressure on adaptation increases, the number of CEOs that prioritize major movements to support business model reform is increasing. But this is necessary, but it is rare. According to PWC's survey, to p-notch companies focus on business models and technology models that enable it, and continuously do it. The challenges of the necessary awareness and management are very large for that. In order to win, the leader needs to consider a wider wider initiative and apply them in combination (for example, investing in service partnerships eliminates the ability gap of operating models and advances in technology. Response to the winning company, which is more than 13 times as a total of other companies that have been measured as a total effect of profit margin and profit growth.

Another sign that the need for reform is growing is that the pressure that the CEO is expected to be received from factors that affect changes in business models in the next three years has increased significantly. For example, compared to the past five years, the CEO (CEO) has a much significant impact on how to create, provide, and acquire value, with changes related to technology, customer preferences, and climate change. I expect it. As the CEO is in the next three years, only the impact of supply chain's instability is declining.

The increased importance of such trends is contrasting to CEO's perception of some shor t-term threats. However, by region, the CEO still finds concerns. For example, inflation is still the biggest concern for US CEOs. Similarly, geopolitical threats are still one of the biggest concerns for Central and East and Middle East CEOs, despite retreating global CEOs as a whole. This is because companies are already taking measures to protect themselves from some conflicts, and the other impact on other disputes is still not clear. In Western Europe, CEOs are most concerned about cyber risks in the next year, especially in France and Germany, and cyber risks are recognized as the biggest threat. US CEOs have also mentioned exposure to cyber risks as the top concerns.

Next steps Understand the interrelationships of megatrends. By analyzing the trends that affect the regions and industries in which companies operate, CEOs can begin to identify opportunities to maximize their company's strengths. Clustering trends based on commonalities can tease out potential impacts and identify how they reinforce each other. Consider, for example, how technology and climate change might interact with regulations and customer preferences to reshape entire industrial systems. CEOs will need to think about what their stakeholders really want and need: not just customers, but suppliers, business partners, investors, regulators, and society at large. If you run an organization or oversee its management, the challenge before you is to envision the future ecosystem in which you intend to operate. Not only do you need to understand what role each type of company will play, but you also need a clear picture of how value pools will change.

5. The AI challenge

Of all the megatrends that are forcing CEOs to reinvent themselves, no one is more important than climate change. In this regard, CEOs report mixed success in achieving their stated goals. Nearly two-thirds report that they are working to improve energy efficiency, and another 10% have completed such efforts. And about half report that they are working to innovate climate-friendly products and services. And, as we will see, CEOs everywhere accept a low bar for investing in climate-friendly products and services.

But for a range of other climate change measures, too many CEOs say they have no plans. For example, less than half of respondents have integrated climate change risks into their financial plans, and nearly a third have no plans to do so. This is because CEOs are already factoring climate change risks into their insurance profiles for recent severe weather events without necessarily considering the long-term and chronic effects of climate change.

They only look within their own company's perimeter without fully considering the interdependencies in their supply chains.

Your reinvention playbook

6. Turn barriers into opportunities

PwC estimates that about US$58 trillion of the world's GDP is moderately or highly dependent on nature.

Other climate actions that CEOs said they were unlikely to take include two with big societal implications. The first is upskilling and reskilling the workforce, a key element to ensure a just transition to a net-zero economy. The second is investing in nature-based climate solutions, which are essential given how staggeringly dependent companies are on nature. In fact, PwC estimates that 55% of global GDP, or roughly US$58 trillion, is moderately or highly dependent on nature.

Next move: Look to nature-based climate solutions While progress is needed across the board, nature-based climate solutions may be a particular blind spot. With the accelerating decline of natural ecosystems and inadequate societal responses, nature loss is an increasingly urgent issue that is interconnected with climate change. PwC estimates that the combined value of listed companies across 19 major stock exchanges with the most exposure to financial risk from nature dependency is nearly US$45 trillion. It won’t be easy, but CEOs should look for opportunities to create nature-positive business models that not only mitigate risk and enhance financial returns, but also benefit society. Some companies may find opportunities to address climate and nature priorities simultaneously. For example, reforestation can enhance biodiversity, drive capital to developing countries, and support indigenous and local communities while also contributing to emissions capture.

In addition to climate change, the second megatrend with systemic and existential implications is technological disruption. Specifically, we looked at generative AI. Generative AI has all the characteristics of a technology that could profoundly change how companies operate. It is also at a critical juncture where it will transform business models, redefine operational processes, and revolutionize entire industries.

CEOs in this year’s survey appear to believe in both the rapid pace of generative AI adoption and the magnitude of its disruptive potential. For example, over the next year, about half of CEOs expect generative AI to enhance their ability to build trust with stakeholders, and about 60% expect it to improve the quality of products and services. And over the next three years, nearly seven in 10 respondents expect generative AI to increase competition, drive changes in business models, and require new skills from employees. So far, experience seems to be driving expectations: CEOs who say they are deploying generative AI across their companies (about one-third of the sample) are significantly more likely than other respondents to expect its transformative potential in the next 12 months and over the next three years.

7. Pinpoint your most important moves

Overall, CEOs see many positive impacts that generative AI will have on their businesses in the near term. These include applications such as increased revenue through improved product quality and customer trust, and improved efficiency. This trend is consistent with PwC's Global Risks Survey 2023, where 60% of respondents see generative AI mostly or entirely as an opportunity, not a risk.

At a societal level, the impact of generative AI is still unclear. A quarter of CEOs expect generative AI to reduce their workforce by at least 5% in 2024. Companies that make early cuts to gain efficiencies in one area may already be offset by hiring in other areas as growth and revenue opportunities become clearer. For example, 14% of technology CEOs expect generative AI to reduce workforce over the next year, but 56% of them also expect to hire in 2024. (Overall, 39% of CEOs expect their company's workforce to increase by 5% or more over the next 12 months.)

These surveys emphasize the need to involve employees when the CEO introduces generational AI. AI, who is wary of AI (and what may be for their own work) by being transparent, aimed at, and trusted with AI (and what may be for their work) by being transparent, aimed at You will be able to feel more comfortable experiments and innovation using. In other words, understand, explain, and manage the inevitable tension between shor t-term employment losses and the possibility of lon g-term employment creation by AI.

Next hand: Raise the bet in AI strategy. Now that the introduction of generative AI has just begun, most companies have not yet clarified what they are trying to achieve with this powerful and genera l-purpose technology. That should be. Contrary to the enthusiasm, generator AI is only a kind of AI, and it has not yet realized its potential.

The CEO must well coordinate the tension between potential risks and the desire to act quickly to capture the opportunity. Advanced companies are consistent with the existing digital strategies and AI strategies, improving employees, focusing on the identification of expanded use cases, encouraging experiments throughout the organization. There is. Looking at digital products using AI and products connected to digital (including the Anything-AS-A-Service model), companies have countless opportunities to adjust the value exchange method with customers and other stakeholders. You need to explore.

While the momentum of generative AI is accelerating, various experts in this field have expressed concerns about the unintended serious results, which may occur as the scope is expanded. The CEOs also commented on the questionnaire in the questionnaire. For example, regarding generational AI, CEOs are most concerned about cyber security risks, and more than half are likely to spread incorrect information within the company. On e-third of the CEOs expect generate AI to increase prejudice to employees and customers' specific groups within the next year. Almost the same number of CEOs are opposed, suggesting that as the scope and complexity of the role of the generational AI in business increased, it is likely to be a field where prejudice will attract attention. Interestingly, even if you are accustomed to generating AI, it seems that concerns about risks have been reduced among CEOs of companies that have already adopted generated AI.

8. Recalibrate expectations for climate priorities

The combination of these surveys shows that CEOs have a social obligation to guarantee that their organizations are responsible for using AI. In fact, there are many responsibilities to manage this advanced technology, given the pace of technological innovation and the delay in the establishment of new norms and regulations. In a recent interview, Boston Dynamics (robot manufacturing company) Robert Player (CEO) said in a recent interview: This integration is strictly prohibited from weapons and use for the purpose of harm or intimidation, as in all of our robots ... we must comply with ethics. ].

The next one quickly and responsible. To pursue the potential of generational AI, you must not overlook the potential pitfalls. The important thing is to start with a strategy, consider all the risks of generator AI, and to examine how it will affect all employees. Set a clear ris k-based priority, focus on the maximum risk, and build strict internal controls for data privacy and AI model learning methods. Special attention is paid to how vendors and other thir d-partys manage AI risks, and constantly monitor the regulations to grasp trends in data privacy, prejudice of AI, and AI governance. 。 And don't forget the cyber program. Cyber ​​-risk modeling requires a more sophisticated approach, such as scanning threats according to corporate sector and strategy. Some of the most innovative approaches are generally adopted generital AI for cyber defense.

By deepening understanding of issues and opportunities associated with the reconstruction of meaningful business, CEO can change the former to the latter. < SPAN> Comprehensive of these surveys shows that CEOs have a social obligation to guarantee that their organizations are responsible for using AI. In fact, there are many responsibilities to manage this advanced technology, given the pace of technological innovation and the delay in the establishment of new norms and regulations. In a recent interview, Boston Dynamics (robot manufacturing company) Robert Player (CEO) said in a recent interview: This integration is strictly prohibited from weapons and use for the purpose of harm or intimidation, as in all of our robots ... we must comply with ethics. ].

9. Keep your antennae up

The next one quickly and responsible. To pursue the potential of generational AI, you must not overlook the potential pitfalls. The important thing is to start with a strategy, consider all the risks of generator AI, and to examine how it will affect all employees. Set a clear ris k-based priority, focus on the maximum risk, and build strict internal controls for data privacy and AI model learning methods. Special attention is paid to how vendors and other thir d-partys manage AI risks, and constantly monitor the regulations to grasp trends in data privacy, prejudice of AI, and AI governance. 。 And don't forget the cyber program. Cyber ​​-risk modeling requires a more sophisticated approach, such as scanning threats according to corporate sector and strategy. Some of the most innovative approaches are generally adopted a generator AI for cyber defense.

By deepening understanding of issues and opportunities associated with the reconstruction of meaningful business, CEO can change the former to the latter. The combination of these surveys shows that CEOs have a social obligation to guarantee that their organizations are responsible for using AI. In fact, there are many responsibilities to manage this advanced technology, given the pace of technological innovation and the delay in the establishment of new norms and regulations. In a recent interview, Boston Dynamics (robot manufacturing company) Robert Player (CEO) said in a recent interview: This integration is strictly prohibited from weapons and use for the purpose of harm or intimidation, as in all of our robots ... we must comply with ethics. ].

The next one quickly and responsible. To pursue the potential of generational AI, you must not overlook the potential pitfalls. The important thing is to start with a strategy, consider all the risks of generator AI, and to examine how it will affect all employees. Set a clear ris k-based priority, focus on the maximum risk, and build strict internal controls for data privacy and AI model learning methods. Special attention is paid to how vendors and other thir d-partys manage AI risks, and constantly monitor the regulations to grasp trends in data privacy, prejudice of AI, and AI governance. 。 And don't forget the cyber program. Cyber ​​-risk modeling requires a more sophisticated approach, such as scanning threats according to corporate sector and strategy. Some of the most innovative approaches are generally adopted a generator AI for cyber defense.

By deepening understanding of issues and opportunities associated with the reconstruction of meaningful business, CEO can change the former to the latter.

Sustaining the change

We asked the CEO about the various disabilities often faced when working on larg e-scale changes in companies. Their answers are highlighted that many constraints are unique to sector. For example, in energy, electricity, public interest businesses, transportation, and logistics, infrastructure issues inhibit reforms (at least 37 % of the world average, 61 %, 58 %, 56, 56, 56. %). It has also been found that CEOs, who are more interested in the survival of companies, have a stronger tendency to point out the facts that prevent reforms.

It was also surprising that few CEOs recognized that some obstacles were greatly affected. For example, only 25%of CEOs answered that the lack of support from the Board of Directors is a mediu m-level constraints on their own reform efforts, and 30%of the CEOs have responded the same for internal stakeholders. Not. Similarly, only 26 % of CEOs answered that the lack of support from boards and management was more than moderate for their business models of their business models.

On the other hand, many of the constraints that seem to hinder reform are within the range of CEO's influence. Bureaucratic processes, competitive priority, limited financial resources, employee skills, technical abilities, etc. are subject to some influence of CEO. The average CEO answered that 40 % of the time spent on meetings, office work, and email is inefficient. He also said that 35 % of the time spent on decisio n-making meetings, which can often control directly by the CEO, is inefficient. If you estimate the inefficient costs in a modest way, you will be taxed on the productivity of $ 10 trillion. This is equivalent to about 7 % of the GDP around the world with purchasing power, which is called "sludge" tax by Professor Cass Sanssteen of Harvard University Law School. < SPAN> We asked the CEO about the frequent various disabilities faced when working on larg e-scale changes in companies. Their answers are highlighted that many constraints are unique to sector. For example, in energy, electricity, public interest businesses, transportation, and logistics, infrastructure issues inhibit reforms (at least 37 % of the world average, 61 %, 58 %, 56, 56, 56. %). It has also been found that CEOs, who are more interested in the survival of companies, have a stronger tendency to point out the facts that prevent reforms.

Deloitte Annual Forum 2024

It was also surprising that few CEOs recognized that some obstacles were greatly affected. For example, only 25%of CEOs answered that the lack of support from the Board of Directors is a mediu m-level constraints on their own reform efforts, and 30%of the CEOs have responded the same for internal stakeholders. Not. Similarly, only 26 % of CEOs answered that the lack of support from boards and management was more than moderate for their business models of their business models.

On the other hand, many of the constraints that seem to hinder reform are within the range of CEO's influence. Bureaucratic processes, competitive priority, limited financial resources, employee skills, technical abilities, etc. are subject to some influence of CEO. The average CEO answered that 40 % of the time spent on meetings, office work, and email is inefficient. He also said that 35 % of the time spent on decisio n-making meetings, which can often control directly by the CEO, is inefficient. If you estimate the inefficient costs in a modest way, you will be taxed on the productivity of $ 10 trillion. This is equivalent to about 7 % of the GDP around the world with purchasing power, which is called "sludge" tax by Professor Cass Sanssteen of Harvard University Law School. We asked the CEO about the various disabilities often faced when working on larg e-scale changes in companies. Their answers are highlighted that many constraints are unique to sector. For example, in energy, electricity, public interest businesses, transportation, and logistics, infrastructure issues inhibit reforms (at least 37 % of the world average, 61 %, 58 %, 56, 56, 56. %). It has also been found that CEOs, who are more interested in the survival of companies, have a stronger tendency to point out the facts that prevent reforms.

Missed the event?

It was also surprising that few CEOs recognized that some obstacles were greatly affected. For example, only 25%of CEOs answered that the lack of support from the Board of Directors is a mediu m-level constraints on their own reform efforts, and 30%of the CEOs have responded the same for internal stakeholders. Not. Similarly, only 26 % of CEOs answered that the lack of support from boards and management was more than moderate for their business models of their business models.

On the other hand, many of the constraints that seem to hinder reform are within the range of CEO's influence. Bureaucratic processes, competitive priority, limited financial resources, employee skills, technical abilities, etc. are subject to some influence of CEO. The average CEO answered that 40 % of the time spent on meetings, office work, and email is inefficient. He also said that 35 % of the time spent on decisio n-making meetings, which can often control directly by the CEO, is inefficient. If you estimate the inefficient costs in a modest way, you will be taxed on the productivity of $ 10 trillion. This is equivalent to about 7 % of the GDP around the world with purchasing power, which is called "sludge" tax by Professor Cass Sanssteen of Harvard University Law School.

• Next steps Engage, empower, and enable your employees. CEOs and other C-suite leaders can do a lot to address inefficiencies and break down barriers, but they can’t do everything. That’s why it’s important to align leaders and employees on transformation priorities and build a culture of trust where employees feel comfortable suggesting better ways of doing things. Start by identifying gaps in leadership and employee opinion. For example, 84% of CEOs whose companies have widely adopted generative AI believe that employees will be more efficient with their work time in 2024. Only 31% of employees who responded to PwC’s Global Workforce Hopes and Fears Survey 2023 expect generative AI to make them more productive or efficient at work in the next five years. To build trust, start with transparency and invite employees to play an active role in change. Consider citizen-led innovation, an approach that helps employees build skills and put them to use immediately. And redesigning career paths around skills, not jobs, gives employees more power and opportunity as their jobs change.
• Real progress comes when leaders and companies make meaningful efforts to evolve the way they create, deliver, and capture value. In analyzing this year's survey data, we found a positive correlation between respondents' self-reported profit margins and the business moves that had a large or very large impact on the respondents' business models (e. g., technology development and deployment, novel pricing models, strategic partnerships, etc.). This was true for each individual transformation action and for the composite transformation index we created. The data suggests that actions with a very large impact on the business model have a 3-5 percentage point higher return than actions with a limited impact.
• Of course, the right levers for each company will vary depending on the strategy, business model, industry context, and competitive situation. Two things stand out. First, the rapid reallocation of resources, a hallmark of high-performing companies, remains a key CEO concern. Nearly two-thirds of CEOs report reallocating resources 20% or less each year, and nearly 30% say they reallocate resources 10% or less. The survey showed that higher levels of annual reallocation correlate with higher levels of reinvention and higher profitability.
• of CEOs report reallocating less than 10% of their company's resources annually.
• Second, the value of embracing business ecosystems beyond the company's walls. According to another PwC study, by collaborating across industry boundaries, such as through joint ventures and alliances, to give customers what they need, companies can often create more value than any one company can achieve alone. Companies that participate in ecosystems are 1. 7 times faster to market, 1. 2 times more likely to be flexible and agile, and 2. 3 times more likely to be highly innovative than their peers.

Agenda

Next Step: Clarify the Value Connection Ultimately, CEOs and their leadership teams need to have a clear view of how deals, projects and other investments create value and be willing to make tough decisions, such as reallocating resources from legacy businesses or redefining the company's industry boundaries and ecosystem partners. "These are also a logical extension to our group's business in the U. S. and Canada, and our insurance platform in Asia," Sun Life CEO Kevin Strain said in a recent interview. Such collaborative ecosystems provide the best (and arguably only) way to tackle complex and far-reaching challenges like climate change.

It's also worth keeping in mind that resource allocation happens at multiple levels: strategic decisions about which assets are or should be in a company's portfolio, for example, and the company's ability to make the most of those assets. And PwC's 25th annual CEO survey (published in 2022) finds that day-to-day project-level decisions are also key performance drivers: 10% of CEOs report reallocating less than 10% of their company's resources from one year to the next.

Second, the value of embracing business ecosystems beyond the company's walls. Another PwC study found that by collaborating across industry boundaries, such as through joint ventures and alliances, to deliver what customers need, companies can often create more value than any one company could achieve alone. Companies that participate in ecosystems are 1. 7 times faster to market, 1. 2 times more likely to be flexible and agile, and 2. 3 times more likely to be innovative than their peers.

Next Steps: Clarify the Value Connection Ultimately, CEOs and their leadership teams need to have a clear view of how deals, projects, and other investments create value and be willing to make tough decisions, such as reallocating resources from legacy businesses and redefining the company's industry boundaries and ecosystem partners. "These are also a logical extension to our group business in the U. S. and Canada, and our insurance platform in Asia," Sun Life CEO Kevin Strain said in a recent interview. Such collaborative ecosystems provide the best (and arguably the only) way to tackle complex and far-reaching challenges like climate change.

It's also worth keeping in mind that resource allocation happens at multiple levels: from strategic decisions about which assets are or should be included in the company's portfolio, to the company's ability to make the most of those assets. PwC's 25th annual CEO survey (to be released in 2022) also found that day-to-day project-level decisions are also a key performance driver. CEOs report reallocating less than 10% of their company's resources from one year to the next.

Second, the value of embracing business ecosystems beyond the company's walls. According to another PwC study, collaboration across industry boundaries, such as joint ventures and alliances, to give customers what they need often creates more value than any one company could achieve alone. Companies that participate in ecosystems are 1. 7 times faster to market, 1. 2 times more likely to be flexible and agile, and 2. 3 times more likely to be highly innovative than their peers.

Next move: Clarify the connection to value Ultimately, CEOs and their leadership teams need to have a clear view of how deals, projects, and other investments create value and be willing to make tough decisions, such as reallocating resources from legacy businesses or redefining the company's industry boundaries and ecosystem partners. "These are also a logical extension to our group business in the U. S. and Canada, and our insurance platform in Asia," Sun Life CEO Kevin Strain said in a recent interview. Such a collaborative ecosystem offers the best (and arguably only) way to tackle complex and far-reaching challenges like climate change.

It's also worth keeping in mind that resource allocation happens at multiple levels: at strategic decisions about which assets are or should be in a company's portfolio, and at the company's ability to make the most of those assets. And PwC's 25th Annual CEO Survey (published in 2022) found that day-to-day project-level decisions are also key performance drivers.

As CEOs have determined the priority, many CEOs believe that climate change is a factor in the industry, not only risks, but also a clear opportunity. Nearly on e-third, the climate change is expected to create, provide, and acquire corporate value over the next three years. There may be some reasons why 41 % of CEOs, including more than half of chemical companies, have set a lower rate of investment in consideration of climate change than other investments. 。 Regionally, CEOs in the Asi a-Pacific region are likely to accept lower rates lower than CEOs in other regions.

This is consistent with the opinions of investors in PWC's global investor Survey 2023, and for tw o-thirds of investors to deal with the environment, society, governance (ESG) issue. Even if the gender is reduced, the company has said that the company should spend it. The provisions of the return are important inputs in corporate resource allocation, so evidence that CEO is flexible in that expectation while facing the climate change issues indicates the possibility of progress. It is a hopeful sign. PWC's related surveys have found evidence that private investors' interest in Green Tech has shifted to more discharge sectors.

Participate with CFO about the next climate change strategy. CFO is a natural partner that can be trusted by CEO, and builds a more sustainable business model, because it is a traditional partner that focuses on lon g-term value and performance. You can work on problems such as merger and acquisition (M & Amp; A) to do. The CFO and the financial department have many tools to set sustainability at the center of the strategy, such as forecast, budget, resource allocation, and risk management. It should help you identify carricalization, social sustainability, and the maximum impact on nature. For CEOs who seek a faster pace change through M & Amp; A, joint ventures, and alliance, partnerships with CFOs are particularly highly fruitful, both in terms of valuing and transmitting them to investors. It will be. < SPAN> As the CEO (CEO) determines the priority, many CEOs believe that climate change is not only risk but also a destruction factor in the industry, including clear opportunities. Nearly on e-third, the climate change is expected to create, provide, and acquire corporate value over the next three years. There may be some reasons why 41 % of CEOs, including more than half of chemical companies, have set a lower rate of investment in consideration of climate change than other investments. 。 Regionally, CEOs in the Asi a-Pacific region are likely to accept lower rates lower than CEOs in other regions.

This is consistent with the opinions of investors in PWC's global investor Survey 2023, and for tw o-thirds of investors to deal with the environment, society, governance (ESG) issue. Even if the gender is reduced, the company has said that the company should spend it. The provisions of the return are important inputs in corporate resource allocation, so evidence that CEO is flexible in that expectation while facing the climate change issues indicates the possibility of progress. It is a hopeful sign. PWC's related surveys have found evidence that private investors' interest in Green Tech has shifted to more discharge sectors.

Participate with CFO about the next climate change strategy. CFO is a natural partner that can be trusted by CEO, and builds a more sustainable business model, because it is a traditional partner that focuses on lon g-term value and performance. You can work on problems such as merger and acquisition (M & Amp; A) to do. The CFO and the financial department have many tools to set sustainability at the center of the strategy, such as forecast, budget, resource allocation, and risk management. It should help you identify carricalization, social sustainability, and the maximum impact on nature. For CEOs who seek a faster pace change through M & Amp; A, joint ventures, and alliance, partnerships with CFOs are particularly highly fruitful, both in terms of valuing and transmitting them to investors. It will be. As CEOs have determined the priority, many CEOs believe that climate change is a factor in the industry, not only risks, but also a clear opportunity. Nearly on e-third, the climate change is expected to create, provide, and acquire corporate value over the next three years. There may be some reasons why 41 % of CEOs, including more than half of chemical companies, have set a lower rate of investment in consideration of climate change than other investments. 。 Regionally, CEOs in the Asi a-Pacific region are likely to accept lower rates lower than CEOs in other regions.

This is consistent with the opinions of investors in PWC's global investor Survey 2023, and for tw o-thirds of investors to deal with the environment, society, governance (ESG) issue. Even if the gender is reduced, the company has said that the company should spend it. The provisions of the return are important inputs in corporate resource allocation, so evidence that CEO is flexible in that expectation while facing the climate change issues indicates the possibility of progress. It is a hopeful sign. PWC's related surveys have found evidence that private investors' interest in Green Tech has shifted to more discharge sectors.

Participate with CFO about the next climate change strategy. CFO is a natural partner that can be trusted by CEO, and builds a more sustainable business model, because it is a traditional partner that focuses on lon g-term value and performance. You can work on problems such as merger and acquisition (M & amp; A). The CFO and the financial department have many tools to set sustainability at the center of the strategy, such as forecast, budget, resource allocation, and risk management. It should help you identify carricalization, social sustainability, and the maximum impact on nature. For CEOs who seek a faster pace change through M & Amp; A, joint ventures, and alliance, partnerships with CFOs are particularly highly fruitful, both in terms of valuing and transmitting them to investors. It will be.

"Sooner or later," wrote the late Andy Grove, former CEO of Intel, in his 1996 memoir, Only the Paranoid Survive. Whether that change is technology, fierce competition, or regulation, companies face forces that "build up so insidiously that it's hard to put your finger on what's changed, but you know something has."

Facing an inflection point that brings about, in Grove's words, "a total change in how we do business," executives must be "paranoid" defenders of their business against competitors that "eat you chunk by chunk until there's nothing left." Grove's emphasis on spotting inflection is another key stat from this year's survey. CEOs who are less certain about their companies' survival are more aware of the threats they face. Whether that's because they perceive the threats as more risky or because they see something others aren't likely to see will likely vary by company, industry, and geography. PwC’s Global Internal Audit Study 2023 reveals how effectively enterprise risk, compliance and internal audit teams can put in place early warning and risk sensing systems to spot these dangers.

And CEOs who are more concerned about business viability are adapting somewhat more than others. This was especially true among those who said their companies have formed new strategic alliances, shifted from a global to a regional supply chain model, or introduced novel pricing models.

What’s next? Challenge conventional wisdom. As the fundamentals of business change, all leaders need to challenge conventional wisdom to stay ahead. This will vary by industry. For example, consider four preconceived notions banks have as the embedded finance revolution sweeps financial services. These include long-held beliefs about incumbent banks’ competitive advantage, customer relationships and structural regulatory advantages. To succeed in this new world, banks and other businesses need to understand how ecosystems are shaping around their customers’ needs. They will then need to clarify the role they will play in the resulting value chain, including how they will facilitate and utilize the rapidly expanding flows of financial transactions and customer data.

The combination of this year's survey reflects the CEO's awareness of overcoming important strategic transformation, and you can feel a sense of crisis and behavior. This data also suggests that the effectiveness of leadership is more important to maintaining energy, challenging the current situation, and gaining momentum. In a recent article in Strategy+Business, PWC's Ryan Hawk, Nadia Kubis, and Blair Shepard describe the priority of leadership in reform leaders.

For example, CEOs may need to expand their management, including the addition of emerging experts in their future success, such as climate change regulations and AI. In addition, it is extremely important that the top team as a whole, as well as governance and control systems, rather than letting leaders and business leaders in charge of individual initiatives. In addition, many organizations need to take into account the fact that there is no answer to many questions, new mechanisms to solve the problem together, rather than presenting a solution and seeking approval. A new way to track progress and reward people. In addition, the CEO needs a plan that conveys the urgency we are feeling, everyone understands, and can make some of the solution into ourselves. Those who are skilled in their current job may resist changes due to the anxiety that they may not be good at being required in the future. Therefore, the CEO, who is seriously working on reform, must recognize concerns, emphasize curiosity and tolerance, and find an approach for managers to support employees.

Some of these leadership demands may be familiar, but both are expectations for the CEO that leads the voyage of strategic discovery necessary to evolve for many years of value creation. It is enhanced. Now that he has entered the era of constant r e-invention, the CEO has an unparalleled opportunity to rebuild the organization and himself, lead the destruction, and change his desires into reality.

More than 150 participants participated in the event to hear exclusive insights on major topics focusing on Malta's existing economic models, and explored ways to bring out values ​​and opportunities.

You can see the speakers, agendas and materials related to this event from the following.

If you want to know this event or future events, please contact us.

This year's forum consists of the following five sessions, providing a place for discussions, and sharing ideas and experience.

Eventually, human: Initiatives and ingenuity in the age of the machin e-with Digital Futurist Mike Vectel

Malta's Economic model: Malta's economic model

Guest speakers and panellists

Mike Bechtel - Chief Futurist and Managing Director, Deloitte US

More and more in effort: Enable workforce by technology and outsourcing.

Internationalization: Assignments and opportunities

"The ability to change is to believe in something bigger than you,": A stimulating and suggestive lecture by Neil Agius.

January 19, 2024 (Friday)

Lewis Pugh, OIG

Welcome and registration

Greeting

Mark Alde n-Deloit Malta CEO

Introduction of session

CONRAD Cassar Torregian i-Tax Business Leader Deloit Malta

Guest speaker After all human: independence and ingenuity in the age of machinery

Mike Vectel (Deloit, Chief Furista)

Neil Agius

Panel Discussion Malta Economic model: Malta's economic model

Moderator Michael Za b-Deloit Malta, Economy and Policy Leader

Kevin J. Rapine t-Harman Vera Group CEO

Dr. Gege Gatt - CEO, EBO

Rafael Aloisio

Chris Muscat - CEO, Hudson Holdings Limited

Enriko Bradamant e-Igen Chairman

Raphael Aloisio

Dr. Moira Catanni a-Chairman of the Malta Finance Advisory Committee

Coffee break

More efforts than presentations: Enable labor by technology and outsourcing

Marisa Xuereb - Council Member, The Malta Chamber of Commerce, Enterprise and Industry

Michael Bianchi (Deloit Malta, Sustenability Leader

Enrico Bradamante - Chairman, iGEN

Damian Heath (Deloit Malta, Enterprise Technology & Performance Leader

Kevin J Rapinett - CEO, Halmann Vella Group

Rosanne Boner o-Business Process Solution Leader Deloitte Malta

Fire side chat internationalization: issues and opportunities

Rachel Zarb Cousi n-International Tax Leader, Deloit Malta

Gege Gut (eBO Limited CEO)

Dr. Moira Catania - Chairperson, Malta Fiscal Advisory Council

Marisa Schuele v-Malta Chamber of Commerce and Industry

Chris Musca t-Hudson Holdings CEO

Guest speaker "The power to change is to believe in something larger than you.

Lewis Pew OI G-Endurance swimmer, marine advocate