64 percent of Irish CEOs believe the next three years will be more critical for their industry than the previous 50.
More than a third expect their company to transform into an entirely different entity in the medium term.
Even the most experienced CEOs are concerned about having to make decisions on mission-critical issues they have not previously encountered in their career.
At a time when the lines separating industries, companies, technologies and customers are blurring, CEOs must also grapple with the uncertainties caused by global economic and geopolitical factors, not least Brexit.
However, business does not wait and for many CEOs, it’s a case of “now or never” as they seek to transform their companies over the next three years.
Most Irish CEOs are more confident about the future for their own business than they are about the wider economy and over half of them also expect to grow their headcount in the next three years.
The speed, depth and breadth of change is testing capabilities. Collaboration and innovation is the name of the game as companies seek to augment their talent in areas such as data and analytics.
80 percent of CEOs who participated in KPMG’s recent research will drive shareholder value utilising external partnerships and collaboration with other businesses.
Regulatory hurdles combined with rapid disruption and a low growth environment mean that alliances and joint ventures are becoming increasingly important.