DUBAI, United Arab Emirates -
Sunday, January 13th 2013 [ME NewsWire]
(BUSINESS WIRE/ME
NewsWire)-- Continued uncertainty – stemming from events both within and
outside the Middle East – looms large on the minds of the 157 senior executives
from the UAE, Saudi Arabia, and Qatar polled by Oliver Wyman and Zogby Research
Services in late December, 2012. The optimism uncovered in previous polls
remains high, but has been dampened by ongoing fiscal worries in the Eurozone
and by continued risks to the large and complex projects characteristic of the
Gulf region. The survey results were presented at the 4th Oliver Wyman / Financial
Times CEO Conference on Thursday, January 10th, in Dubai.
When asked to rate their firm-wide
structures and processes in place to manage uncertainty, only 22% of all polled
answered "no issues – we have an established firm-wide process to manage risk.”
In the UAE, 69% of senior executives said their processes were either "mixed”
(different parts of the firm have their own processes) or non-existent. Saudi
executives were similarly negative, with 36% admitting they have no processes
in place to manage risks.
Other highlights from the survey
include:
- Saudi optimism and confidence levels, while still high,
have dropped in the past year: 61% is the lowest rating since the surveys
began in 2009.
- UAE confidence levels remain fairly steady and optimism
continues to climb: 80% is the highest rating since the surveys began.
- At 63%, the number of Saudi execs who are
"satisfied with their government’s handling of economic challenges”
is the lowest since we began. Only 15% are "very satisfied."
- Feelings of urgency for reform stemming from the Arab
Spring are down across the region.
"Surveying executives twice
annually has enabled us to keep our finger on the region's pulse and to discern
trends as they develop,” says James Zogby, the Managing Director of Zogby
Research Services. "Right now I'm watching the slow decline in Saudi confidence
levels."
"This ongoing research provides a
unique window into the attitudes and beliefs of senior managers in the Gulf
region on important issues, managing risk not least among them,” notes Mark
Robson, a Dubai-based Partner in Oliver Wyman’s Global Risk and Trade Practice.
"Comprehensive and flexible frameworks to manage ongoing uncertainty and
emerging risks will be critical as government and business work together to
sustain and enhance the region’s competitiveness.”
For more information on this survey
series, visit the Oliver Wyman website at www.oliverwyman.com/gcc_survey_7.htm.
About Oliver Wyman
From the firm's offices in Dubai,
Riyadh, and Abu Dhabi, Oliver Wyman serves clients in the United Arab Emirates,
Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and beyond. Our
MENA-based consultants are recognized industry experts representing 24
nationalities and speaking 17 languages.
Oliver Wyman is a global leader in
management consulting. With offices in 50+ cities across 25 countries, Oliver
Wyman combines deep industry knowledge with specialized expertise in strategy,
operations, risk management, and organization transformation. Oliver Wyman is a
wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC). Follow
Oliver Wyman on Twitter @OliverWyman.
About Zogby
Zogby Research Services is a public
opinion research firm that conducts polls and analyzes attitudes across the
Arab World.
Contacts
Oliver Wyman
Eileen Roche, 617-424-3554
elieen.roche@oliverwyman.com
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