CEOs believe it’s now or never. Globally, 72 percent of CEOs believe that the next 3 years will be more critical for their industry than the last 50 years. Change will be led by technology, connected consumers and sector convergence. These three forces will upend business models, blur lines between industries and companies, and demand a new way of thinking about business. Much of what will happen is unknowable. What is impossible today will become mainstream tomorrow.
“Only those companies and industries accepting the challenge to transform themselves will be more competitive, gain efficiency and ensure the loyalty
of new digital consumers,” says John Scott, Deputy Chairman, KPMG International. “This period will be even more challenging, as it will take place in an environment that is still characterized by significant economic, geopolitical and regulatory uncertainty.”
With the accelerated speed of change, it is increasingly difficult to have a reliable long-term, or even mediumterm, view. But waiting is not an option. “You can’t wait until you have a satisfying level of clarity because you might never get it,” says Stephen G Hasty, Jr, Global Transformation Leader at KPMG International.
Despite current economic and market uncertainty, Global CEOs express confidence in future growth.