According to the PwC’s 19th Annual Global CEO Survey CEOs are less confident about prospects for the global economy than they were in 2015. The same is true overall when they consider their own company’s prospects for growth.
CEOs continue to highlight overregulation as their biggest concern. But even as issues like an increased tax burden and governments’ response to fiscal deficits and debt burdens loom large, geopolitical uncertainty is a top concern for nearly three-quarters of CEOs.
More disorienting still for CEOs is their growing feeling that our globalized economic and social fabric is fraying as divergent political, business, societal and cultural movements take hold. This is driven by digital technologies that have enabled people all over the world to be more connected, better informed, and as a result, increasingly empowered and emboldened.
Faced with these changes, CEOs tell us that customers will increasingly judge companies based on how they help greater society and how they live up to their own values. Notably, nearly a quarter of CEOs said their company has changed its sense of purpose in the last three years to take into account the broader impact it has on society. 76% of CEOs agree that business success will be redefined by more than just financial profit.
More than 1,400 company leaders from 83 countries participated in the PwC’s Annual Global CEO Survey. Download it here.