Global leaders are working to strengthen and make supply chains more resilient,
manage the impact of inflation, enhance cyber security and keep sustainability
central. In fact, according to a global survey of The Conference Board (2022, C-Suite Outlook) - based on 750 CEOs
and CXOs in North America, Latin America, Asia and Europe - nearly 8 in 10 CEOs
expect a recession in their primary operating region within the next 12-18 months, or
believe it is already underway.
At the same time, the war between Russia and Ukraine is acting as an accelerator of
change, pushing companies to perfect their innovation and automation strategies.
The impact of the war is far-reaching and companies are also moving to attract and
retain valuable talent at such a time of severe labor shortages.
The Conference Board survey focuses on CEOs and other C-suite executives on the
impact of the war in Ukraine finds:
- Concerns about squeezing margins: CEOs and other C-suite executives see food warfare as inflation through volatility in energy prices and rising costs for scarce inputs.
- Danger of economic blocks emerging: Rising US-China tensions are likely to have a major impact on trade operations and economic growth over the next 12 months.
- Cyber Risk: Board members and senior management need to recognize the danger and ensure their organizations adopt increased security.
- Repairing stressed supply chains: The number one action that CEOs are taking due to this war is to make supply chains more resilient and environmentally and socially responsible also as investors will focus more on these issues.
Yes to secondary sanctions but also concerns about kickback: Although the
decision to introduce secondary sanctions would greatly increase the economic
battlefield and set the stage for a fractured global economy and world order, most
global CEOs it even favors them although they are concerned about the negative
consequences of the sanctions already in place.
Rapid progress in renewable energy: The war is driving Global Leaders to
accelerate investments in the use of renewable energy that is part of a
long-term growth strategy that is accelerating with conflict-related energy price
volatility. Depending on how it is sourced, it can provide a shield against volatility in
fossil fuel prices, but the initial investment costs can be high.
Digital transformation is key: CEOs see technology as the key to long-term
growth. To ensure the growth of their business, CEOs say they are investing in digital
transformation, developing new business lines, retraining and retraining existing
employees, strengthening company culture and increasing productivity in their hybrid
business models. Among CEOs globally, 58 percent cite digital transformation as part
of their investment plans — the top response.
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dislocations in supply and demand, inflation, labor shortages, and skyrocketing
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Milan, July 2022.