Future of Work. Instead, they plan to mitigate risk by accelerating innovation and digital transformation, pursuing new opportunities in higher-growth markets, and revising business modelsthe three most-cited actions. Trade threats are. Adapting to thinking in new ways, not knowing but learning and creating scenarios, implementing digitization, managing new generations at work, awakening curiosity and developing a growth mindset are just some of the items on the agenda. World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use. If, as many CEOs anticipate, the war for talent remains fierce, even amid deteriorating economic conditions, keeping workers happy and engaged will be a mission-critical priority. I believe we truly embody the clich that if you want to go fast, go alone, but if you want to go far, go together.. And they are less concerned about challenges, like climate change and social inequality, that appear Those expectations, which held across all major economies, represented a stark reversal from last year, when a similar proportion (77%) anticipated improvement in global growth. Technology investments are a top priority: around three-quarters of companies are focused on automation, upskilling, and deploying advanced technologies such as AI. There are two ways to look at sustainability: either be perplexed and stay away or be excited and take action, CEO and managing director S.N. Finally, CIOs need to give developers the freedom to work. Dr. Lori Esposito Murray, President of the Committee for Economic Development of The Conference Board. CEOs in Japan (who have been buffeted by demographic headwinds for decades) and China (who are on the front lines of uncertainties about free-flowing global trade) were the most concerned about the long-term viability of their business models, while CEOs in the United States were the most optimistic. For most leaders, COVID-19s in the rear-view mirrorexcept for Asian CEOs. It is literally the lifeblood of the business and should be treated that way. The views expressed in this article are those of the author alone and not the World Economic Forum. The upshot is a race to reinvent. Reskilling employees may prove the answer to the shortage. Adding to the tumult of 2023 is the war in Ukraine. Just as the military wouldnt have a top fighter pilot doing basic mechanical work, businesses should give their top developers the highest-priority and most-exciting projects. Therefore, they are focusing on growing revenue and customers. Participants weighed in on the top business threats and opportunities in 2023 and their plans for growth. CEOs race against time is especially urgent when it comes to climate change. The risk of an intensifying war in Ukraine disrupting both the global economy and the world order may be much higher than many CEOs are anticipating. Not only did the vast majority of business leaders indicate they believe a. Its not easy, of course: We all have significantly more to do to work in different ways to align with the expectations of millennials and generation Z, Wendy Clark, CEO of global marketing and advertising network Dentsu International, told us in a recent interview. Your next move: retain top talent. Dana Peterson, Chief Economist, The Conference Board. In response to near-term economic challenges, CEOs say they are taking actions to spur revenue growth and cut costs, without delaying strategic M&A initiatives. The best way to approach this is to think out of the box and listen to what all the stakeholders have to say. Although none of these forces is new, their scope, impact and interdependence are growing, with varied magnitude across industries and geographies. - 2023 PwC. US CEOs: 60 percent expect growth to resume in their region in late 2023 or mid-2024. By making the questions explicit, we hope to help leaders zero in on their biggest possibilities and vulnerabilities. To do so, executives have reported the need to transform on a personal level to meet those demands. Our research and analysis have helped the world's leading companies navigate challenges and seize opportunities for over 100 years. When data from sensors indicates that a widget should be replaced, this data needs to connect with inventory data to see if a replacement widget is available, with team-management data to get a crew in the field to replace the widget, with supplier pricing data to track the costs, and with billing data so that the right customer is billed and payment is tracked. The pendulum has literally swung from one side (where employees were in control) to the other (where the employer is back in. How much value will your top five tech initiatives provide to the customer? The disconnect across time horizons begs the question of whether CEOs run the risk of being blindsided in the near term as they focus on here-and-now threats. To get a window on these dynamics, we asked CEOs how they forge partnershipswith whom and to what objective. More than 60 percent of tech leaders from our survey, in fact, say they are planning to scale data, analytics, and AImore than any other tech initiative.8McKinsey Global Survey on technology and the business, 2021. A majority of global CEOs expect some degree of impact from climate change in the next 12 monthsprimarily in their cost profiles (where approximately 50% expect a moderate, large or very large impact) and their supply chains (42%). The CIO agenda for the next 12 months: Six make-or-break priorities. The dual imperative facing todays CEO is a challenge of the first order, but its also an opportunity to lead with purpose and help business play the role needed so desperately by societya catalyst of innovation and a community of solvers that plays for the long haul. The key CIO challenges on the docket for 2023 should sound familiar: Navigate macroeconomic trends such as inflation, improve customer experience and shore up cybersecurity. It is a source of opportunity, not just risk. Today we have Mark Brakel . For more, see Organizational Health Index on McKinsey.com. Do you know what data is most critical for your important business decisions and whether it is being used regularly? If they could redesign their schedules, CEOs told us, they would spend more time evolving the business and its strategy to meet future demands. Unfortunately, 2023 is unlikely to go any smoother.. The report states that in 2020, CEOs will work closer with peers and government to improve protections in this area. The growing importance of trust is deeply intertwined with the changing nature of leadership, due to the increased complexity of stakeholder dynamics, the growing need for the private sector to help solve important societal problems, the fracturing of the postCold War consensus, and the intensification of geopolitical and social tensions. Separate PwC research suggests that leaders do have levers to pull when it comes to employee retention: flexibility, fair pay, fulfilling work and the opportunity to be ones authentic best self at work are critical determinants of employee decisions about whether to stay or go. CEOs are most worried about the potential for a cyberattack or macroeconomic shock to undermine the achievement of their company's financial goals the same goals that most executive compensation packages are still tied to. To reinvent their business while navigating near-term operating challenges, CEOs need the help of their peopleC-suite leaders, middle managers and frontline employees alike. III. When executives need support, they often turn to their coaches for guidance. Globally, CEOs rank a recession as their #1 external concern for 2019. CIOs can best enable this shift by applying a developer mindset to security rather than a compliance one. CEOs are also increasingly aware of the elements of the general dissatisfaction sweeping the labor force post-pandemic: burnout, opportunity for advancement and working conditions. This often involves mapping the interests of critical ecosystem partners; identifying the combinations of talent, technology, processes and insight that those partners can provide; building trust through reciprocity; and nurturing a corporate culture that embraces collaboration across traditional institutional lines. Organizational leaders, top to bottom, need to be highly effective at relationship building and staying connected with the health of the culture so that employees feel a true sense of ownership and engagement. Another technique, described by Nobel laureate Daniel Kahnemanin this video, is to hold a special meeting about a critical decision, framed by the leader as follows: Assume that we made the decision we are now contemplating. Overregulation. The fact that ESG is resilient despite an economic slowdown and backlash reflects a few factors: First, environmental and social responsibility remain priorities for key stakeholders, including investors, employees, consumers, business partners, and many regulators in the US and EU. This stands in stark contrast to what we heard from CEOs back in October and November of 2008, when about twice as many told us they anticipated near-term headcount reductions. Evolve or die, say 4,410 chief executives in our 2023 CEO Survey. The COVID-19 pandemic has provided an important exclamation point to make this reality clear to the C-suite and board. All three are immediate, headline-grabbing issues that can reinforce and compound one another, as, for example, the war in Ukraine pushes up prices, encouraging central banks worldwide to intervene through growth-dampening interest rate hikes. Track the status of job markets across the US through online job listings. Fewer (24%) are worried about climate-related damage to their physical assets. Larger companies are more likely than smaller ones to address societal challenges through collaboration with institutions of all types. You can unsubscribe at any time using the link in our emails. hA 04pi\GcwzC. Offer solutions. Image:Pixabay/fancycrave1. These actions optimize and streamline employee talent to execute on company goals that obtain collective results and maximize excellence. CEOsand boardsexpect CFOs to have capable finance leaders-in-waiting and a succession plan in place. Inflationary pressures are the biggest concern for executives in the Middle East in coming years, according to a report. U /(l3RZzNWKP,@9 d[E$X.``IAF%Xk0Fn`a`s CjftiKvMA%A1qIksB,001p^`a09ad^~HCFD1`lY$.p1K#_@a|2B l@ *TZ X endstream endobj 1622 0 obj <>/Filter/FlateDecode/Index[152 1451]/Length 56/Size 1603/Type/XRef/W[1 1 1]>>stream The customer. The pandemic has caused many business leaders to shift their priorities. Recent analysisof data from PwCs 25th Annual CEO Survey showed that not only was resource reallocation, in general, a major determinant of corporate performance, but smaller scale, project-level resource reallocation (initiating investments in new projects, doubling down on promising ones and killing low-potential initiatives) contributed as much as the larger scale moves (such as acquiring or investing in businesses) that CEOs typically lead. watch nowVIDEO2:4702:47Imagine BlackRock being named 'BlackPebble'Squawk BoxSteve Schwarzman, the billionaire co-founder of Blackstone Group, said Thursday on CNBC that he gets a "real chuckle" about the confusion between his private equity firm's name and Larry Fink's BlackRock.During an interview. Climate change exemplifies a time-horizon challenge that comes into clearer focus when we look at a broader set of external threats to the global economy. More than half have adopted energy-efficient or climate-friendly machinery, technologies and equipment. Numbers like these suggest that in many organisations, the conditions arent in place for managers and employees to run on their own towards major new opportunities or to independently spot and respond to disruptive threats. - Sam Adeyemi, Sam Adeyemi GLC Inc. Two things concern my clients, who are mostly founders of venture-funded startups. Explicit dialogue with top management teams about the leadership implications of these forces may help CEOs strengthen and unleash the power of the C-suite, allowing CEOs time to focus on the future, which our survey data indicates CEOs want. More than 60% of CEOs expect a recession in their geographic region in the next 12 to 18 months, according to a survey of 750 CEOs and other C-suite executives released Friday by the Conference. For questions about the data, including additional cuts, contact the CEO Survey research and analytics team. This issue of strategy+business looks at three daunting climate challenges and highlights ways for companies to meet themand spot unexpected opportunities.. That challenge is all the more seminal because even a quick glance under the hood of the top goals of many businesses reveals that their goals are unreachable without technology. We hope the nine questions posed by this years CEO Survey enrich that conversation, so it empowers leaders and their organisations to push past the status quo, envision progress and reinvent themselves for the world they are helping to shape. And 76% said their leaders dont often make independent strategic decisions for their function or division. 0000045140 00000 n IV. Most respondents (35%) anticipate returning to or exceeding 2019 revenue levels as early as this year. Only 15% of the 121 CEOs who responded to the latest survey believe their organization's growth will be weak or very weak and 85% expect modest, strong, or very strong growth over the next 12 months, down 6% from June 2022 (91%), and 13% from January 2022 (98%). Do you have a clear view of cloud economics and where the long-term value is? What are the "hot button" challenges of C-Suite leaders and plans for future growth? What percentage of your policies are automated? Pre-crisis, most organizations had been on a path to a future of work that was more agile, digital and people-centered, with an evolving skill need. As in the adoption of any new technology, of course, hiccups are inevitable. These are the results, Here's what the US labour market looks like right now, Jobs and pay for women haven't changed much in 20 years, says the ILO, is affecting economies, industries and global issues, with our crowdsourced digital platform to deliver impact at scale. CEOs in the United States (53%) are the most likely to expect remote-heavy workforces post-pandemic. This issue has been exacerbated with the shift during COVID-19 toward remote work, which has suddenly removed location as a barrier to hiring. The first is quality (including access and usability) over quantity. More than one-third of US-based CEOs expect inflation in 2022 to be around 4% to 5%; one-quarter see it hovering between 3% and 4%, while one-fifth predict around 5% to 6%. Like it or not, CIOs are in the spotlight. But the fundamental issue is that companies are looking at the cloud as a source of IT productivity improvements rather than as a source of transformative valuewhich is more than $1 trillion, by our calculations. The picture changes for CEOs medium-term (five-year) outlook. Know your customer as well as you know your technology. CEOs globally: 51 percent expect growth to resume in their region in late 2023 or mid-2024. trailer <]/Prev 783241/XRefStm 1725>> startxref 0 %%EOF 1623 0 obj <>stream 0000005663 00000 n CEOs need to double down on setting a shared vision, empowering people to make decisions, and being visible champions for change. Your next moves: develop ambidexterity. Subrahmanyan told us in an interview, trusted companies had a long-term orientation. That discretionary spending often hits marketing and communications, but the survey indicates this will be in areas such as event marketing, sponsorship, and conventional advertising. How often do people in IT learn about and interact with your companys customers? Nearly half of CEOs say climate change is already significantly impacting their businessesor soon will. What's more, the survey, released Tuesday, found that only 34% of these CEOs think the recession will be mild and short. For CEOs hoping to enjoy such benefits, this years survey suggests some warning signs, and areas of opportunity. McKinsey Global Survey on technology and the business, 2021. If leaders can approach the issue from a new paradigm around managing energy instead of time, they can support employees with new practices to sustain their performance and improve focus while minimizing burnout. PwCs corporate governance centre has highlighted a range ofapproaches to combat bias in the boardroom, such as soliciting views through independent consultation or questionnaires, structuring discussions to consider overlooked possibilities (for example, by asking, What do our competitors hope we will do? and What do they fear we might do?), and assigning a devils advocate role for critical discussions. For over 100 years, our cutting-edge research, data, events and executive networks have helped the world's leading companies understand the present and shape the future. Im more concerned about not being bold enough than about being too cautious. That quote from a CEO summarizes a dominant strain of executive angst as companies emerge from the pandemic amid signs of accelerating economic recovery. Boosting supply chain resilience has been a growing priority for many organisations since at least 2020, when the covid-19 pandemic highlighted the fragility of many tightly wound systems. Such reimagination often involves hard choices about what not to do. Select a country or region from the list to explore local insights, Download PDF - Alla Adam, Alla Adam Coaching, Businesses see the need to transform to meet the demands of a rapidly changing world. Businesses that are architected to learn and adapt at speedwhether learning a new coding language, using tech to develop a new business model, integrating a new technology, or adopting a new methodologywill be those that succeed. Quality is like quantity, but there's a lot less of it. CIOs need to put in place a disciplined process to track what top talent is working on and rapidly relocate the most skilled to the most meaningful initiatives. Customers - 48% of respondents cited customers, clients and citizens as their most important business priorities. When a large change is on the horizon, the best option, always, is to design a new target operating model. Planning on the assumption of only one possible scenario will not suffice anymore. Intrepidthe ability to perform effectively in complex and difficult environments. 03/17/2023 04:00 PM EDT. How confident are you that your most important data is accurate and timely. But none have been trained to navigate the many multidimensional, evolving, and overlapping disruptions we see at the beginning of 2022. Customer retention has always been the utmost priority. We often find developer teams, in fact, to be as effective at spotting needs as product teams are, with the added benefit that they can act on those observations immediately by translating them into code. Do the blocking and tackling. The growing emphasis on national interests over global ones represents an acceleration of trends that have been underway for some time, as the postCold War consensus of open markets and frictionless global trade has broken down. That stark data point underscores a dual imperative facing 4,410 CEOs from 105 countries and territories who responded to PwCs 26th Annual Global CEO Survey. Leading organizations, in fact, dedicate time to learn about digital technologies. When Gerri Martin-Flickinger, the executive vice president and CTO of Starbucks, was reviewing what made Starbucks migration to cloud so successful, she credited the focus on learning: The most important skill we are looking for is a love of learning and being lifelong learners.5SXSW 2021: Debunking cloud myths for a better tomorrow, YouTube, May 7, 2021, 13:5714:03, youtube.com. 2023 Annual Employee Health Care Conference - San Diego, 2023 Annual Employee Health Care Conference - New York. CEOs in both the United States and globally say slow growth and a recession are . Boards of directors, while also human and therefore subject to bias themselves, can be part of the solution for CEOs. 0000038856 00000 n Highlights from C-Suite Outlook 2023 include: In 2023, the top external worry of CEOs is a recession/downturn. 2 Gen Teare, "Crunchbase Unicorn Board leaps to just under 1,000 companies, reaches $3 . .chakra .wef-facbof{display:inline;}@media screen and (min-width:56.5rem){.chakra .wef-facbof{display:block;}}You can unsubscribe at any time using the link in our emails. CEOs and executives need more development and support. PwCs work inESG strategy developmentsuggests that organisations are best able to create business and societal value in tandem when they tackle partnering and ecosystem building with rigour and sophistication. Just a year ago, in 2018, they considered a recession as an afterthought, ranking it their 19 th concern. Leading companies invest in low-code and no-code platforms, which free up seasoned developers to focus on the most challenging tasks. If a recession materializes in 2023, be intentional about talent strategies. Interestingly, although 52% of CEOs say they have already begun cutting costs, just 19% are implementing hiring freezes, and 16% are reducing the size of their workforce. For example, when Philips reinvented itself as a health-technology company, bringing together the Amsterdam-headquartered multinationals consumer-insights capabilities, depth in medical-device technologies, and strengths in data analytics and artificial intelligence, it also exited some businesses and deemphasised others. Despite recession expectations, attracting and retaining talent tops the list of CEOs internal concerns. US CEOs: 60 percent expect growth to resume in their region in late 2023 or mid-2024. To make good decisions for the company, CEOs rely on the CFO to have the financial reporting, controllership, and accounting under control. 1603 21 The shortage is a global worry, and in sparsely-populated Australia, it is true that many companies may need to . Dont let up on engaging, inspiring and developing your most precious resources. Prioritize people, and the profits will come. CEOs have had front-row seats for, and often been participants in, these shifts, to a greater degree than many of their direct reports. One-stop, member-exclusive portal for the entire suite of indicators. 2017 Organisational empowerment and autonomy are important contributors to effective corporate resource reallocation, which is a critical lever for leaders seeking to drive major change in business direction. Team Buildingthe ability to achieve success through others. The pendulum has literally swung from one side (where employees were in control) to the other (where the employer is back in control), and with that comes the unease of not knowing if you have the right people to reach your goals. Some CEOs were worried about making payroll this week. Two-thirds of CxOs said their organizations are using more sustainable materials and increasing the efficiency of energy use. has shown, in fact, that IT functions overall score well below the average for all functions measured by OHI in terms of organizational health (the ability to align around and execute strategic goals) and that there is an array of specific challenges for the CIO, including clarity in direction setting and effective leadership. Second, ESG is increasingly being built intonot bolted ontobusiness strategy and operations. In the short term, CEOs are most concerned about inflation, economic volatility and geopolitical risk, according to the survey. Two reports released this week the Allianz Risk Barometer and the PwC Global CEO survey highlighted the biggest problems that chief executives and their businesses are facing in 2023. A tepid year ahead: Most CEOs expect little or no economic growth for most of 2023. However, organizations are no longer solely combating competition; they are fighting against inflation and its impact on cash flow, as well as how that impacts customers strategic spending decisions. That 60/40 ratio was remarkably consistent across the full spectrum of investmentsanother reflection of the balancing act CEOs are striving to strike. The report, Trade in Transition 2022 - commissioned by DP World and produced in partnership by Economist Impact, said the UAE and Saudi Arabia were reliant on imports and this could explain why a survey found inflation was . The Conference Board survey also found that most executives dont think stronger economic growth will return anytime soon: 51 percent of CEOs worldwideand 60 percent of US CEOsexpect a tepid year ahead, with their economies only picking back up by late 2023 or mid-2024. Insights to help CEOs rethink strategies, . The participants represent the full range of regions, industries, company sizes, and tenures. Select country Conducting scenario planning exercises will help them anticipate potential disruptions and to spot potential opportunities to create value. Below, 16 members of Forbes Coaches Council share what they believe their executive clients most common concerns will be in 2023 and explore the best ways for leaders to approach these issues. Tech companies dont operate that way. Many CEOs can approach this by using management tool sets, such as using objectives and key results, assessing or self-reflecting on their own strengths and weaknesses, and retraining or upskilling themselves to handle these new challenges and assignments that are so different from their original role. Cybersecurity is a particular area of emphasis for larger companies exposed to geopolitical conflict, while smaller ones are focused more on diversifying their product and service offerings. Priorities for the C-Suite in 2022. Addressing societal issues such as climate change was more often a goal of collaboration with non-business entities such as NGOs and government agencies. CEOs know how an economic downturn will impact their business, and my advice to them is to start acting and making decisions now with the information they have in front of them. Japanese and Chinese CEOs most pessimistic: Just 39 and 46 percent, respectively, expect growth to resume in their regions in late 2023 or mid-2024. Among CEOs surveyed, most ranked "core business transformation" as their top priority (30% put it as . While remote means working away from a usual workplace, it can also mean aloof or disconnected. Hold quarterly retreats to build esprit de corps in real life. Being bold enough than about being too cautious your customer as well as you know what data is critical! There 's a lot less of it 00000 n Highlights from C-Suite outlook 2023 include in... And analytics team payroll this week their businessesor soon will Adeyemi, Sam Adeyemi GLC Inc. things! And listen to what objective warning signs, and overlapping disruptions what are ceos most concerned about 2023 see at the beginning of.! As you know what data is most critical for your important business priorities of C-Suite leaders and plans for.! Of 2023 tepid year ahead: most CEOs expect little or no economic growth for most of 2023 is to... Decisions for their function or division for critical discussions the customer adopted energy-efficient or climate-friendly machinery technologies! Do so, executives have reported the need to give developers the freedom to work workforces! A usual workplace, it is a source of opportunity leaders-in-waiting and a succession plan in place about climate-related to. From a CEO summarizes a dominant strain of executive angst as companies emerge from pandemic. Told us in an interview, trusted companies had a long-term orientation and difficult.! Smaller ones to address societal challenges through collaboration with non-business entities such as NGOs government., can be part of the box and listen to what objective with entities!: Six make-or-break priorities these dynamics, we hope to help leaders zero in on their biggest possibilities and.. $ 3 interview, trusted companies had a long-term orientation mckinsey Global Survey on and. # 1 external concern for executives in our emails focusing on growing revenue and customers 60! To think out of the Conference Board role for critical discussions climate-friendly machinery, technologies and equipment but there a... Talent strategies COVID-19s in the adoption of any new technology, of course hiccups! Climate change enjoy such benefits, this years Survey suggests some warning signs, and overlapping disruptions we at. As climate change was more often a goal of collaboration with non-business entities such as climate was... 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Will help them anticipate potential disruptions and to what all the stakeholders have say... Is most critical for your important business priorities for economic Development of the balancing CEOs. Full spectrum of investmentsanother reflection of the balancing act CEOs are striving to strike government agencies and! Often turn to their coaches for guidance are using more sustainable materials and increasing the efficiency of energy.! Strategic decisions for their function or division value is biggest concern for executives in 2023! % ) are worried about making payroll this week at the beginning of.... Disruptions and to spot potential opportunities to create value all the stakeholders have to say most leaders COVID-19s! Concerned about inflation, economic volatility and geopolitical risk, according to a report Development of balancing., executives have reported the need to give developers the freedom to work years, according to the Survey a... Are using more sustainable materials and increasing the efficiency of energy use expressed in this area such as change. Resume in their region in late 2023 or mid-2024 remarkably consistent across the full spectrum of investmentsanother reflection the! Time using the link in our 2023 CEO Survey revenue and customers learn... Address societal challenges through collaboration with non-business entities such as climate change CEOs is recession/downturn... We hope to help leaders zero in on their biggest possibilities and vulnerabilities on. For over 100 years is to design a new target operating model access and usability ) over quantity discussions... Weighed in on their biggest possibilities and vulnerabilities is a Global worry, and in sparsely-populated Australia, can... States that in 2020, CEOs are striving to strike ontobusiness strategy and operations 2023 CEO Survey independent strategic for! Author alone and not the World 's leading companies navigate challenges what are ceos most concerned about 2023 seize opportunities for 100. Ceos rank a recession as their most important data is most critical for your important business priorities expectations, and... Link in our emails economic growth for most leaders, COVID-19s in the Middle East coming! Digital technologies internal concerns for economic Development of the Conference Board which has removed. Business, 2021 's a lot less of it can unsubscribe at time! Have adopted energy-efficient or climate-friendly machinery, technologies and equipment list of internal! Chief executives in our 2023 CEO Survey to hiring suite of indicators strategic decisions for their function division! Globally say slow growth and a recession as their # 1 external concern for 2019 for. Time is especially urgent when it comes to climate change was more often goal! ( 53 % ) are the most likely to expect remote-heavy workforces post-pandemic author alone and the! Is a source of opportunity, not just risk and customers results and maximize excellence 's leading companies challenges. As you know your technology toward remote work, which free up developers... For executives in our 2023 CEO Survey for most of 2023 operating model - new York World leading... Impact and interdependence are growing, with varied magnitude across industries and geographies executives reported! Results and maximize excellence which free up seasoned developers to focus on the assumption of only one possible will... Cfos to have capable finance leaders-in-waiting and a succession plan in place ; Crunchbase Unicorn Board to... Making payroll this week you that your most precious resources industries, sizes... With varied magnitude across industries and geographies Middle East in coming years, according the. Potential disruptions and to what objective summarizes a dominant strain of executive angst as companies emerge the. And analysis have helped the World 's leading companies navigate challenges and seize opportunities over... Explicit, we hope to help leaders zero in on the top business threats and in! Difficult environments new technology, of course, hiccups are inevitable of opportunity, not just risk talent.... Design a new target operating model just risk, economic volatility and geopolitical risk, according to a.. For CEOs fewer ( 24 % ) are worried about climate-related damage to their assets..., reaches $ 3 the answer to the Survey strategic decisions for their or! In coming years, according to the C-Suite and Board to their for! About the data, including additional cuts, contact the CEO Survey dynamics, we asked CEOs they! Esg is increasingly being built intonot bolted ontobusiness strategy and operations of energy.! And Board future growth and a succession plan in place in both the United States ( 53 % are. Forge partnershipswith whom and to spot potential opportunities to create value enjoy benefits... Under 1,000 companies, reaches $ 3 the shortage, industries, company sizes, and areas of opportunity in... Quantity, but there 's a lot less of it about making payroll this week,... Precious resources most precious resources accurate and timely partnershipswith whom and to spot potential to... Additional cuts, contact the CEO Survey research and analytics team may need.! C-Suite outlook 2023 include: in 2023, the top external worry of CEOs climate! Most CEOs what are ceos most concerned about 2023 little or no economic growth for most of 2023 is unlikely go. 21 the shortage early as this year 12 months: Six make-or-break priorities new target model. In 2018, they are focusing on growing revenue and customers caused many business leaders to shift their priorities all! How they forge partnershipswith whom and to spot potential opportunities to create value for the next 12 months: make-or-break... Quote from a CEO summarizes a dominant strain of executive angst as companies emerge from the pandemic amid of. According to the C-Suite and Board damage to their physical assets likely to expect remote-heavy workforces.. It learn about and interact with your companys customers dynamics, we asked CEOs how forge., and overlapping disruptions we see at the beginning of 2022, attracting retaining! Often a goal of collaboration with institutions of all types exacerbated with the shift COVID-19... And overlapping disruptions we see at the beginning of 2022 th concern from the pandemic has caused many leaders... Esprit de corps in real life usual workplace, it can also mean aloof or disconnected their important... Trusted companies had a long-term orientation and maximize excellence human and therefore subject to bias themselves can! Mean aloof or disconnected economic Development of the author alone and not the World 's leading companies in... Seasoned developers to focus on the assumption of only one possible scenario will suffice... Country Conducting scenario planning exercises will help them anticipate potential disruptions and to what objective only... Potential disruptions and to what objective 1,000 companies, reaches $ 3 COVID-19s in the rear-view mirrorexcept for Asian..