Prior to accepting his current role as Global Chief Operating Officer at Ernst and Young, John Ferraro held a number of high-level executive posts with the organization, including Global Leader of Assurance and Advisory Business Services, Americas Area Managing Partner, and Americas Vice Chair of Client Service. Discussing recent economic changes in reference to the third annual Ernst & Young globalization report, Ferraro noted that businesses will face numerous challenges in coming years due to four key factors. Singling out the slowing of rapid growth markets, diversification-related difficulties, the rising influence of protectionism, and shortfalls in managerial talent, he also offered suggestions to help companies succeed in the new economy.
In order to adapt and thrive, businesses must restructure operational models with a focus on boosting productivity and increasing flexibility. Executing these changes quickly, strategically, and in accordance with market trends is essential. To this end, any enterprise that carries excess organizational baggage stands at a fiscal disadvantage and risks falling short of stakeholder expectations, particularly in oversaturated industries where competition necessitates constant streamlining. Advocating the benefits of inclusive leadership as well, the E&Y globalization report points out that dynamic companies can remain so when unconventional thinking is used to drive change.
John Ferraro serves as Global Chief Operating Officer at Ernst and Young, a global professional services organization that provides clientele with assurance, tax, advisory, and transaction solutions. Undertaking a wide range of responsibilities focused on quality control and global integration, Ferraro plays a key part in aligning EY’s worldwide team to better achieve client goals. Outside of his work at Ernst and Young, John Ferraro sits on the Board of the Business Council for International Understanding (BCIU), an organization that brings together public and private sector leaders to promote new opportunities for growth in the global marketplace.
With a membership base that comprises senior-level executives, heads of state, national ambassadors, and cabinet ministers, the Board of the Business Council for International Understanding has organized more than 5,000 conferences and training programs since its inception more than half a century ago. Aside from contributing to the formation of free trade deals between the United States and various Middle Eastern nations, BCIU helped garner grassroots support for the U.S.-Chile Free Trade Agreement and continues to back the Millennium Challenge Corporation in efforts to improve commercial diplomacy across multiple platforms.
Operating American offices in New York and Washington, D.C., BCIU also maintains a London branch and encourages interested parties to learn more about events and the group’s agendas by visiting www.bciu.org.
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