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CEOs Rewrite the Rulebook in Pursuit of GrowthTwo-thirds of CEOs say that agility is the new currency of business and that if they don't adapt, their business will become irrelevant LONDON, June 13, 2019 /PRNewswire/ -- CEOs are faced with a stark choice. In the face of unparalleled environmental, economic and technological change, they are looking to grow their businesses by creating the organizational agility to disrupt existing business models and challenge long-held market orthodoxies. According to the fifth KPMG International Global CEO Outlook, just over half of CEOs are confident they will succeed but are realistic, with 53 percent projecting cautious three-year growth of up to 2 percent (down from 55 percent in 2018). As with 2018, they are also maintaining a positive three-year growth outlook for the global economy, although this has slightly fallen from 67 to 62 percent over the last 12 months. This confidence is also shown by their commitment to hire, with 36 percent of CEOs projecting to add more than six percent to their workforce in the next three years. "A successful CEO now needs to be an agile CEO," said Bill Thomas, Global Chairman, KPMG International. "Succeeding in a world of volatility and uncertainty requires different leadership skills, particularly in large, multi-national organizations. It's no longer a question of simply defending your position and using scale to maintain competitive advantage. Today, CEOs need to be comfortable disrupting their business models by forging new strategic partnerships, considering alternate M&A strategies and increasing the skills of their workforces." Climate change driving a multi-risk operating environment The innovation disconnect Cyber security to innovation Acquiring expertise through M&A Capital investment AI experts take note Continues Thomas, "All together, this year's survey is telling us that we've entered a new era of leadership. Agility comes from balancing a CEO's instinct with having confidence in what the data is telling you. Strategic decisions require data that has bias removed. It's no longer enough to seek "big" data, instead CEOs must use technology to uncover quality data. Only through this will they create the organizational resilience to drive growth." To view additional information about the study please visit www.kpmg.com/CEOoutlook. You can also follow the conversation @KPMG on Twitter and Instagram using #CEOoutlook. Notes to Editors: About KPMG's CEO Outlook The 2019 survey covers 1,300 CEOs in 11 key markets (Australia, China, France, Germany, India, Italy, Japan, Netherlands, Spain, UK and US) and 11 key industry sectors (asset management, automotive, banking, consumer and retail, energy, infrastructure, insurance, life sciences, manufacturing, technology, and telecommunications). A third of the companies surveyed have more than US$10B in annual revenue, with no responses from companies under US$500M. The survey was conducted between 8 January and 20 February 2019. NOTE: some figures may not add up to 100 percent due to rounding. About KPMG International For press requests, please contact: Amy Greenshields, KPMG International, +1-416-777-8749, [email protected] SOURCE KPMG International |