Drivers of change: an interview with Rohit Talwar

aksaroya —  1 February 2013 — 1 Comment

By Faye Chua, head of futures research, ACCA

In this interview Rohit Talwar, CEO Fast Futures, talks about the Drivers of Change research and the imperatives that the accountancy profession and the business community need to focus on to stay successful. Rohit is a member of ACCA’s Accountancy Futures Academy and was involved in the development of the Drivers of Change research.

The accountancy profession needs to develop a global orientation

The pursuit of global opportunities is now a clear priority for large, medium and small enterprises from developed and developing markets alike. The implications for the accountancy function are immense. The first priority is gaining rapid mastery of relatively straightforward matters such as understanding local accounting rules, taxation laws and procedures for profit repatriation, all of which may influence market entry decisions. Then come the more complex challenges of getting a thorough understanding of local business customs and practices, cultural norms and language differences. Key here is developing the mindset within accountancy that is respectful of different practices and cultures and open to ideas, wherever they originate.

The wider businesses community must assume and plan for volatility

Thinking about the future is no longer a luxury or a short discussion in the annual management retreat. Systematic and organisation-wide approaches are now required to scan, explore and assess the implications of key future factors across the short, medium and longer term. Clear responsibilities need to be allocated for identifying and acting on future insights. Companies must be capable of wide-range ‘horizon scanning’ to capture diverse future factors such as driving forces, persistent factors and emerging trends. Consideration must also be given to weak signals, wild cards and the ideas, developments and individuals that could shape the global economy and the operating environment within the industry. Scanning and preparing for a wide range of possibilities, tolerance of uncertainty, curiosity and ‘seeing round corners’ are becoming critical development priorities for managers and leaders alike.

Find out more about ACCA’s Drivers of Change research.

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One response to Drivers of change: an interview with Rohit Talwar

  1. 

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