ACCA-后疫情时代复苏之路：全球组织如何应对新冠危机（英文）-2020.7-30页_3mb

Summary of ACCA's COVID-19 Global Survey: The Road to Recovery?

Core Content

ACCA (Association of Chartered Certified Accountants) conducted a global survey of over 4,500 members to assess the impact of the COVID-19 pandemic on businesses and the effectiveness of recovery strategies. The survey highlights the evolving challenges, responses, and long-term implications of the crisis across different sectors and organisational sizes.

Main Findings

Business and Financial Impact

• Operational Challenges: Organisations across all sectors face increasing operational challenges, primarily due to a collapse in customer demand. Over 53% of respondents cite reduced or stopped purchases, with 83% expecting revenue to be down compared to the previous financial year.
• Revenue Forecasting: Revenue forecasts have continued to decline, with 82% of organisations having performed a financial forecast since the outbreak, up from 53% in March. SMEs are particularly affected, with 85% predicting negative revenue compared to 76% from larger businesses.
• Cash Flow Issues: Almost half of respondents are facing cash flow challenges, indicating a significant financial strain across the board.
• Sector and Location Variations: While challenges are consistent across sectors, the service sector has seen the most severe impact. Revenue forecasts also vary by location, with some regions like Nigeria expecting over 50% revenue decline, while others like Pakistan see only a 6% drop.

Government Support

• Perceived Effectiveness: Government interventions are now seen as more effective, with 32% of respondents considering them effective in June, compared to 17% in March.
• Targeted Support: Interventions targeting employee support, such as health and safety measures, wage subsidies, and tax deferrals, are perceived as more effective.
• Regional Differences: In China and Singapore, two-thirds of respondents rate government interventions as effective, suggesting a positive impact of these measures.

Organisation Responses

• Shift to Medium- and Long-Term Focus: Many organisations are now prioritising medium- and long-term planning. Only 4-6% of respondents are still focused on short-term strategies.
• Flexible Working Practices: Over 80% of organisations have adopted flexible working from home strategies, with 50% implementing staff rotas for social distancing.
• Operational Efficiency: Cost reduction and process reviews are key financial priorities for many organisations, reflecting the need to adapt to the economic downturn.

Long-Term Impacts

• Workplace Transformation: Flexible working and workplace transformation are identified as the most likely long-term impacts of the pandemic.
• Digital Transformation: The crisis has accelerated digital transformation across organisations, with a notable increase in the percentage of respondents identifying this as an opportunity.
• Skills and Innovation: The pandemic has led to an increased focus on skills development, innovation, and adapting business models. SMEs are seen as having more opportunities in these areas.

Key Information

• ACCA's 3-Stage Recovery Framework:

  1. Act (0-2 months): Focus on immediate response, ensuring continuity, protecting staff, and securing organisational viability.
  2. Analyse (2-6 months): Shift to medium-term planning, monitoring trends, and evaluating opportunities.
  3. Anticipate (>6 months): Long-term strategy development, including talent building, digital transformation, and organisational change.

• SMEs and Larger Organisations:

  • SMEs face greater challenges in revenue and cash flow.
  • Larger organisations are more likely to have completed reforecasting and are more focused on long-term strategic planning.
  • SMEs are seeing increased opportunities in business continuity, resilience, and digital transformation.

• Global Economic Impact:

  • The World Bank predicts a 5.2% drop in global GDP, with more pessimistic forecasts from the OECD (7.7%).
  • The service sector has been hit hardest due to shutdowns, while manufacturing and services have seen a significant decline in activity.

• Public Sector:

  • Public sector organisations report increased demand for services, particularly in health and social care.
  • Employee productivity has declined significantly, with 59% of public sector respondents citing this as a major issue.
  • Public sector finance professionals are prioritising data and insights for decision-making, indicating a shift towards more agile and informed strategies.

Conclusion

The survey underscores the profound and lasting impact of the pandemic on the global economy and organisational operations. While short-term challenges persist, there is a growing recognition of the need for long-term strategic adaptation, digital transformation, and flexible working practices. Governments, businesses, and international organisations must collaborate to implement effective recovery strategies and support economic resilience.