After three arduous years of reacting to disruptions and waiting for an economic downturn, businesses have switched to eyeing growth and advancement despite some lingering concerns, according to a new survey from PricewaterhouseCoopers.
PWC says business executives are focusing less on reacting to external disruptions and more on reinventing and transforming themselves.
Business leaders — who once were forced to focus on the COVID-19 pandemic, supply chain issues, problems retaining and hiring quality labor, and other issues — now say they’re becoming more optimistic, according to the study.
While 88% of respondents said they’re still struggling to implement important tech changes, nearly three-quarters responded that they have “the right culture for reinvention.”
Among the key findings from the study:
- Just 17% of business executives strongly agree that there will be a recession within the next six months, down from 35% in October 2022.
- Over a quarter (27%) said they want to integrate new technologies into their business models, and 24% said they want to focus on generating new revenue streams.
- Almost three-fourths (74%) say they are able to attract and retain talent.