KUALA LUMPUR (June 23): PwC recently unveiled a new global strategy to respond to fundamental changes in the world called The New Equation. It consists of PwC firms worldwide investing US$12 billion (about RM49.99 billion) over the next five years.
The New Equation will focus on two interconnecting needs its clients face in the coming years.
The first, PwC said, is to build trust, which has never been more important nor more difficult.
“Organisations increasingly need to earn trust across a wide range of topics that are important to their stakeholders.
“The second is to deliver sustained outcomes in an environment where competition and the risk of disruption are more intense than ever [before] and societal expectations have never been greater,” PwC noted in a statement yesterday.
Along with tending to the needs of its clients, this strategy will also create 100,000 net new jobs across PwC, as well as develop the skills of PwC’s existing partners and employees.
PwC stated that it had planned investments in environmental, social and governance (ESG), quality, leadership institutes and technology.
It added that The New Equation would also accelerate PwC’s growth in Asia-Pacific, with investments of US$3 billion over the next five years to significantly enhance capabilities to support clients in the region as part of an ambition to double the size of the business by 2026 and extend its leading position in the market.
Bob Moritz, the global chairman of PwC, said: “The profound changes in the world mean that to succeed, organisations need to create a virtuous circle between earning trust and delivering sustained outcomes. By bringing our unique combination of capabilities together, and matching it with serious investment and our commitment to quality, we can help them do that. In doing so, we will help clients unlock value for shareholders, stakeholders and the wider society.”
PwC Malaysia managing partner Soo Hoo Khoon Yean noted: “We are looking forward to harnessing the best of our people, capabilities and technology to support our clients in building trust and delivering sustained outcomes for their businesses and society. To do this effectively, we want to deepen our involvement in the community through regular dialogues and focused programmes on upskilling and education, among other societal issues.
“In addition, the renewed focus on sustainability amid the pandemic has elevated ESG as a key priority for our firm in Malaysia. We want to help businesses drive ESG through their strategy and operations, and encourage them to transform their sustainability or net zero targets into tangible action,” he added.