CEOs Worry About the Economy and Fickle Customers
If it seems as if your CEO is wearing that furrowed-brow look more than ever, you're not mistaken. Those worry wrinkles stem from an overall lack of confidence in the global economy and substantial concerns about government regulation, market shifts and rapidly changing customer preferences, according to a recent survey from PwC. The resulting report, "Dealing with Disruption: Adapting to Survive and Thrive," doesn't paint an entirely pessimistic picture. Overall, long-range growth prospects are actually encouraging. Clearly, however, present conditions are leading many organizational leaders to pursue better business strategies, including finding ways to grow their customer base and enhance talent recruitment and retention. "CEOs remain cautious about short-term prospects and the outlook for the global economy," says Dennis Nally, PwC chairman. "Strategically, they continue to refine their operations, looking to cut costs without reducing value as they manage through sluggish times. They are seeking growth opportunities organically, avoiding large outlays that could strap resources for the future. Most important, they have a clear focus on customers, collaborating with them more closely than ever to stimulate demand, loyalty and joint innovation." An estimated 1,330 CEOs in 68 nations took part in the research.