Evolve or die, say 4,410 Executive Managers in a 2023 CEO Survey. But are they spending enough time on business reinvention? Many admitted, "No".
A recent business report published on pwc.com
According to a business report published by pwc.com, forty percent of global CEOs think their organisation will no longer be economically viable in ten years’ time, if it continues on its current course. That stark data point underscores a dual imperative facing 4,410 CEOs from 105 countries and territories who responded to PwC’s 26th Annual Global CEO Survey. Most of those CEOs feel it’s critically important for them to reinvent their businesses for the future. They also face daunting near-term challenges, starting with the global economy, which nearly 75% believe will see declining growth during the year ahead. We’ve organised this year’s survey summary into nine tough questions—which naturally fall into three groups—about what it takes to operate in our dual-imperative world:
According the business report:
CEO's race for the future: The first three questions reflect the race that CEOs must run to stay ahead of longer-term threats to their companies, to society and to the planet itself.
Today’s tensions: The next three questions speak to day-to-day tensions that leaders are facing as macroeconomic conditions deteriorate, uncertainty rises and inflation hits levels not seen in decades.
A balanced agenda: The final three questions epitomise the balancing act that CEOs must perform to deliver on their dual imperative.
Nearly 40% of CEOs don’t think their companies will be economically viable a decade from now if they continue on their current path
The data presented shows that CEOs are already wrestling with though questions, sometimes without fully recognising it. By making the questions explicit, the researchers hoped to help leaders zero in on their biggest possibilities and vulnerabilities. Along the way, they also suggest CEO priorities for action, based on PwC’s research and experience helping global leaders with all of these issues. The dual imperative facing today’s CEO is a challenge of the first order, but it’s also an opportunity to lead with purpose and help business play the role needed so desperately by society—a catalyst of innovation and a community of solvers that plays for the long haul.
4410 Executive Management, CEOs, and Managers have been interviewed and the data has been elaborately published in this Business Report: Read the survey for further details: pwc.com