Background Material from the results of PwC’s 27 and 28 Annual Global CEO Surveys
These global surveys from PwC have been conducted annually in October – November for the past 28 years. Their most recent findings from 2023 and 2024 have just been released. Based upon the latest CEO survey responses, we’ve uncovered important trends and threats that impact future business activities and suggest actions Leaders should take in 2025.
Methodology: The 27th and 28th annual Global Chief Executive Officers Surveys included 4,702 active CEOs representing 105 countries and territories worldwide. All survey replies were returned in written form from each respondent. In-person interviews were conducted with Asian Pacific and North American leaders when possible.
The Survey CEOs (4088 men, 521 women, 93 “prefer not to say”) represent businesses in all industry sectors ranging in size by value from smallest (US $100 Million and 31% of respondents) to largest (US $25 billion and 3% of respondents).
For analysis, comparison, and contrast, survey responses in this report are presented according to their geographic business operating location worldwide. In all the CEO Surveys, business cultures around the world encounter differing customer expectations and experience major disruptive events (like climate change) in ways unique to their physical locations. Attached to the end of this report is a listing of survey responses arranged by geographic location for easy reference.
Concern for Long-Term Business Viability: In the 2023 survey, participants were asked whether they believed their company would be viable for longer than another decade (10 years) if they continued following their current operation and business plan. 12+ months ago, 41% of the CEOs responding believed their companies would not withstand the challenge. The remaining 60% said their businesses would be viable further into the future.
As a result of this one question and the discussions it triggered, many of the world’s businesses considered their own durability and reframed the question, “Are we on the 40% or the 60% path to long-term (more than 10 years) viability? Based on these discussions, CEOs and their executive teams realized an important and growing need for greater transformative actions and creative new business approaches. How can they create and deliver value to their customers for longer than just 10 years.
The age of Continuous Business Reinvention was born.
Results of the 27th and 28th CEO Surveys clearly showed that the vast majority of CEOs took some steps toward reinventing their company’s business. The surveys also indicated that the CEOs who were initially most concerned about the long-term viability of their business in 2023 have now taken more and larger steps toward innovation and reinvention of their business model and operations.
In 2024, CEOs replying to the survey were more optimistic about global and local economic conditions than in years past. However, an even larger number (45% of respondents) said they were not convinced that their companies could survive more than another decade following their current operating path. Though optimistic about the economy, their concerns focused on surprise external business disruptions. Specifically troubling were disruptions created by continual technology innovations, climate changes, and shifting customer behaviors as they experienced during the last five years.
At the global level, CEO attitudes are described as “Cautious Optimism.” Their “caution optimism” varies across geographic regions and differing lines of business. Listed below are the surveys’ responses by geography and their greatest uncertainty is listed now.
- Inflation – United States – prior to the 2024 Presidential Election
- Geopolitical Upheaval – Central and Eastern Europe, Middle East
- Cyber Risks – Nordic, Western Europe, especially France, Germany & Great Britain
- Attracting and Retaining Talent – Canada
- Economic Slowdown, Local Competition, Price Pressures – China
- Workforce Skills, Talent Shortages and Training – India
- Continual Technology Innovations – Infrastructure – Central & South America
These uncertainties are further sharpened by Government Regulations, Competitive Actions, Local and regional Demographics, and Employee Attraction & Retention.
Most CEOs responding said they felt more pressure to reinvent now than during the last five years. Those who were previously the most concerned about long-term viability (45%) last year are slightly more likely to have already begun initiating “ Reinvention” into their daily operational processes.
Next Steps To Improvement
Opportunities for improving business long term exist everywhere. There are some basic, broad actions that can be initiated by CEOs and their executive teams quickly to increase long-term value almost immediately in any geographic region.
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