- A new CA ANZ and Asialink project aims to unpack misconceptions associated with doing business in Asia.
- The project will provide analysis for Australian companies looking to pursue opportunities in Asia.
- The final report is scheduled for release on 11 August.
By Cameron Hill
Chartered Accountants Australia and New Zealand (CA ANZ) has been confirmed as a key partner in a major new thought-leadership project centred on Australia’s corporate engagement with Asia.
The project – Winning in Asia: Creating long-term value – is being led by Asialink Business, the National Centre for Asia Capability, in partnership with CA ANZ, Commonwealth Bank of Australia (CBA), the Australian Institute of Company Directors (AICD) and The Sid and Fiona Myer Family Foundation.
Two years in the making, the project aims to unpack some of the commonly held misconceptions associated with doing business in the region and to ultimately shift the thinking of corporate Australia towards greater internationalisation – through the prism of Asia.
CA ANZ chief executive officer Ainslie van Onselen says the project will provide important new insight into the realities of doing business in Asia as opposed to relying only on perceptions and anecdotes.
“By identifying those business models that have produced success, it will also perhaps for the first time, enable our C-suite executives to take a more nuanced approach to assessing risk adjusted returns through a long-term lens,” she says.
Having access to the latest, evidenced-based analysis and insights about who is succeeding in Asia, why they are succeeding and importantly, what lessons we can learn from them, will help others to make the best-informed decisions about their own engagement with Asia.
Asialink Business chief executive officer, Mukund Narayanamurti, says he believes the project will, for the first time, provide deep, evidence-based analysis, as well as a clear narrative and purpose for Australian companies to pursue new growth opportunities in Asia.
“This project significantly builds on our previous research which has consistently highlighted that by activating even greater levels of Asia engagement by our top corporates and Australian business more broadly, we can position the Australian economy to be even more competitive,” he says.
The project partners have convened a taskforce of Australian business leaders and experts to validate the direction, findings and recommendations.
The taskforce comprises:
- Sid Myer AM, Chair, Myer Family Investments
- Angus Armour, MD & CEO, Australian Institute of Company Directors
- Ainslie van Onselen, CEO, Chartered Accountants Australia and New Zealand
- Jonathan Yeung, Head of Asian Business Banking, Commonwealth Bank of Australia
- Yasmin Allen, Non-Executive Director, Cochlear, Santos, ASX
- Ajay Bhatia, MD, Carsales
- Christine Holgate, MD & CEO, Australia Post
- Sue MacLeman, Chair, MTPConnect, Non-Executive Director, various ASX-listed healthcare companies
- Diane Smith-Gander AO, Non-Executive Director, Wesfarmers and Chair, CEDA
- Peter Varghese AO, Chancellor, University of Queensland
- Martin Commons, Head of Public Policy, BHP Billiton
The project aims to assess the level of internationalisation of top Australian companies and evaluate its impact on corporate performance and market perceptions. It will feature a range of case studies on Australian companies that have significantly engaged with Asia, as well as interviews with senior corporate leaders and other authoritative voices.
The project will also examine the level of Asia-capabilities among the senior leadership of ASX-200 companies and consider how these capabilities contribute to corporate performance.
The final report is scheduled for release on 11 August.