President, Chairman and Chief Executive Officer of DOW Chemical, Andrew Liveris reflects on the differences in Australia and America’s business culture in this weeks episode of Channel Nine’s The Bottom Line, set to air Saturday 24 May at 4.00pm.
Liveris explains to host Alex Malley (Chief Executive of CPA Australia) that Australia’s lack of ability to change in businesscould spell disaster for any company.
“At Dow this is why we are constantly changing, constantly reinventing is because this lack of ability to change with the times is a death wish.”
Andrew Liveris is one of the most influential businessmen in the world. Born and raised in Australia’s Northern Territory, Liveris explains to The Bottom Line that whilst Australia has come a long way in celebrating leadership, the stark difference between Australia and the U.S is our entrepreneurial action.
“I think Australians are still risk adverse. When you have a great lifestyle why risk it? Americans have a great lifestyle but they know that if they stayed still they’d atrophy.”
Liveris’ observations on America’s economy, published in his book; Make It In America, have refocused the nation’s attention towards its dependency on its resource sector and the importance of remaining competitive in the global market.
“Countries around the world want what America has and countries unlike America compete like companies. Nation states are the new competition.”
Liveris tells Malley how President Obama quickly recognised the need to revitalise the U.S production economy and why Australia should consider the same.
“Obama reacted quickly. He said: “we need a manufacturing economy of the value-add kind. To complete in this world of ours, I need to be smart and combine brawn and brain…I need an innovation centric economy.” I think Australia can be a mini America on that.”
Liveris speaks out about youth unemployment, explaining to Malley the merits of revolutionising Australia’s production economy to create demand for employment in the long term.
“I would say to you the issue of our time is youth unemployment. Humanity as a whole is actually removing jobs through automation, productivity, digitisation. We are actually not creating jobs.”
Proud to call Australia home, Liveris reflects passionately on his humble beginnings growing up with his family in Darwin – openly admitting his plans to contribute to the future of his country.
“I will always be interested in the intersection between business and public policy and if there’s (when we come home after I retire) an opportunity to play a part I would certainly be open to help…this country gave me education, gave me the ability to be a very proud citizen in this country, why wouldn’t I want to give back?”
Andrew Liveris shares his insights with Alex Malley on The Bottom Line – Saturday 24 May at 4.00pm on Channel Nine.
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Andrew LIveris on The Bottom Line is Episode 15 in a 24 episode series.
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