POLICY uncertainty remained the major challenge in the second half of 2017 for executives, a survey has revealed.
According to a survey by the Industrial Psychology Consultants (IPC) titled Executive Views on Economic Challenges Survey Report (Second Half 2017), most of the participants (96%) said political uncertainty is the major external policy-related challenge their business faced in the second half of 2017 which is similar to the percentage from the first half of the year.
The four major external policy-related challenges facing organisations in Zimbabwe, according to the survey listed by order in the last half of 2017 were: political uncertainty (96%), government policy inconsistency (94%) compared to 95% in the first half of 2017 , unfavourable regulatory environment (93%) compared to 90% in the first half of 2017 and taxation (62%) compared to 58% in the first half of 2017.
“Comparing the half yearly periods, there has been no significant changes among the external policies considered by participants to be the major challenges facing organisations,” IPC said in its survey report.
Majority of the participants (95%) said forex shortages were the major external market-related challenge facing their organisations in the latter half of last year. The four major external market-related challenges facing organisations in Zimbabwe listed by order are; forex shortages (95%), low liquidity (91%), high interest rates (77%) and inflation (64%), according to the survey.
Nearly half of the participants (49%) said the major internal challenges their organisation faced in the second half of 2017 is a dysfunctional culture not supportive of business goals. The four major internal challenges that organisations are facing in Zimbabwe are: dysfunctional culture not supportive of business goals (49%), poor remuneration (47%), poor technology infrastructure (43%) and a poorly designed organisational structure (41% ).
A large percent of the participants (62%) believe the best option for the country with regards to currency issues is to demonetise the bond and return to multicurrency without the bond, according to the survey. While 20% pointed out the need to adopt the rand, 16% believe there is a need to demonetise the bond and promote plastic money and 2% want the return of the Zimbabwean dollar.
The survey drew executives from various sectors of the economy which include manufacturing, motoring, telecommunications, agriculture and construction.
More than 140 participated in the survey.