South African CEOs ‘disrupting’ to grow in uncertain climate
Audit, tax and advisory services firm KPMG’s ‘2017 CEO Outlook’, released on Tuesday, has revealed that South African CEOs see the positive side of “disruptive forces” facing their respective companies, and are feeling the urgency to “disrupt and grow” amid new challenges and uncertainties.
The outlook, which uncovers CEOs’ expectations for business growth over the next three years, found that almost seven in ten CEOs see disruptive forces as an opportunity, as opposed to a threat, for their business and some 86% said their organisations were actively disrupting the sector in which they operate.
“Disruption has become a fact of life for CEOs and their businesses as they respond to heightened uncertainty. But, importantly, most see disruption as an opportunity to transform their business model, develop new products and services and reshape their business so it is more successful than ever before,” explained KPMG South Africa partner and executive director Makgotso Letsitsi.
While the survey found that six in ten CEOs are confident of their respective company’s growth prospects for the next three years, South African business leaders are not as confident about the prospects for the global economy, with only 42% expressing confidence.
“CEOs understand that speed to market and innovation are strategic priorities for growth in uncertain political conditions. That’s why a whopping 88% are spending much more time on scenario planning as a result of an uncertain geopolitical climate,” Letsitsi concluded.
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