“Evolve or die”, say 4,410 chief executives in the recent 2023 PwC CEO Survey.
But are they spending enough time on business reinvention?
Many say “No”.
These latest survey findings highlight themes that challenge every business;
- The race for the future, winning today’s race while running tomorrow’s
- Today’s tensions, developing resilience
- A balanced agenda, TO-BE as well as AS-IS
Some key observations emerge from this report that we should all consider;
- 40% of CEO’s think their business won’t be viable in a decade from now!
- More than 50% expect a moderate to large impact from climate change on cost and supply chain (more than on physical safety).
- Nearly 75% anticipate a global growth decline compared to 77% expecting growth in 2022.
- 52% have started cost cutting but 60% don’t (yet) plan to reduce headcount due to past experience
The next 12 months heralds accelerated investments in these top 6 areas;
- Automating processes and systems
- Upskilling the workforce in priority areas
- Deploying advanced technology to support reinvention
- Adjusting the supply chain (including nearshoring/onshoring operations)
- Adopting alternative energy sources
- Decarbonising the company’s business model
There is a lot of food for thought here.
Not just to consider what the future may hold, but also to align with your own organization’s strategy and aspirations.
Thank you to Pedro Berrocoso for bringing this report to my attention.
Thanks for reading . . . .