Global

Details

  • Industry: Retail, Food, Drink & Consumer Goods
  • Type: Business and industry issue, Survey report
  • Date: 6/12/2013

Responsibility and Regulation Issues 

Issues related to responsibility and regulation are higher priorities for companies in certain countries such as the US, the food and beverage sector and for companies in emerging markets.

"The number one challenge is how to grow business, and that’s where it should be. Second is how to improve operations to grow margins and profitability. Third is how to deal with regulation and appropriately manage risk. Corporate responsibility should go across all three of those, which will result in increased value for all stakeholders."


- Mark Larson
Global Head of Retail, KPMG International

Responsibility and Regulation


  • Corporate Responsibility - Corporate responsibility was the issue least often cited as a top of mind concern for consumer executives, especially in the more developed economies. However, over half of the executives surveyed said they would be increasing their spending on corporate responsibility initiatives over the next 2 years.
  • Food and Product Safety - Food and beverage adulteration crises, such as the horse meat scandal in Europe or the tainted milk and illegal meat discoveries in China, confirm the need for better traceability and food safety in this industry. Incidents such as these are likely among the concerns driving food and product safety to be a top issue among food and beverage manufacturers and retailers -- particularly in Asia and Western Europe.
  • Consumer health and nutrition - One in four executives in the food industry identify it as among their top three. Further, the food and beverage manufacturers are more likely than the retailers to be concerned about consumer health and nutrition issues.
  • Governance and regulation - Only 18 percent of executives overall place governance and regulation among their top three concerns for 2013. Historically, this has been an area where executives are relatively less likely to place emphasis.
 

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Top mind survey 2013