Arthur D. Littlea consultancy company based in Belgium, published the results of his study CEO Insightsa research that investigates the response of CEOs to the instability of the current situation and their point of view on the difficulties to be faced.
What immediately catches the eye is that more than half of CEOs (about 61%) strongly believe in positive changes for the economy within the next three years. The majority of those interviewed also maintain that there will be important opportunities to be seized to foster business growth.
There is a lot of faith in the future, at least on the part of the great managers. It seems that this optimism can be attributed to the lessons learned during the pandemic: the CEOs who have been able to seize opportunities even during the crisis say they are ready to face this new period of general instability without too much concern.
Managers are placing a lot of emphasis on technology and innovation, two central factors for the growth of companies. Digitization will drive change and technologies such as AI, robotics and automation will become ever more widespread.
“During a recession, the wisest choice for businesses is to cut costs and focus on survival,” said Francesco Marsella, Managing Partner and Global Practice Leader, Strategy & Organization at Arthur D. Little. “Despite current changes and several negative forecasts for 2023, the majority of the CEOs surveyed view the future with optimism, work with passion, entrepreneurship and creativity to manage today’s performance while building the future. They see opportunity in adversity, look beyond the current crisis to embrace a more positive future for their company and society as a whole“.
Managers are placing total trust in technologies that will allow them to overcome current obstacles and build a more stable future. Furthermore, 80% of them believe that being socially responsible investors, i.e. incorporating one’s own values in the choice of investments, is essential for obtaining a competitive advantage on the market.
