A December survey of CEOs conducted by PricewaterhouseCoopers (PwC) found 86% believe technological advances will have the greatest effect on their businesses.
Almost seven in 10 thought demographic shifts would result in massive change, while nearly six in 10 foresaw shifts in global economic power having that effect. Signifcantly fewer executives expected resource scarcity/climate change or urbanization to have a dramatic effect on business. Executives indicated they were investing in a range of technologies in order to help drive growth. While 44% of respondents were earmarking funds for business analytics, 41% were spending on socially enabled business processes. Nearly four in 10 had made outlays for mobile customer engagement.
Business leaders were also less focused on the potential importance of emerging markets than they were in 2011, likely due to volatility in the economies of several countries. While 69% of respondents thought China to be important to growth in 2011, only 42% thought the same for 2014. The percentage of those polled who thought Brazil was important fell from 30% to 22% over the same time period, while it dropped from 31% to just 8% for India.
Trends that US CEOs Believe Will Transform Their Business the Most*, Dec 2013
% of respondents
Shifts in global economic power
Resource scarcity and climate change
Note: n=162; respondents could choose up to three; *over the next fve years Source: PricewaterhouseCoopers (PWC), “17th Annual Global CEO Survey, 2014 – Us Report” Jan 20, 2014