According to the PwC’s 27th Annual Global CEO Survey – Pakistan, the survey results disclosed that around 42 percent of the CEOs of Pakistani companies believed that their companies would not be economically viable a decade from now if they continued the existing business model.
The same concern about the economic viability of the current business model has been raised by 45 percent of CEOs globally. Further, 63 percent of CEOs anticipated an increase in competitive intensity within their industry, driven by factors such as new entrants, products, or pricing approaches in the next three years.
The results of the survey reaffirmed the need to enable a government regulatory environment for the businesses as, without it, sustained growth may not be achievable despite businesses adopting new technologies for enhanced capabilities, developing new products and services, and implementing novel pricing models, survey results revealed.
The survey is structured around relevant key business dimensions including growth, threats, reinvention, generative AI, and climate, and included insights from 62 Pakistani CEOs, representing a diverse range of companies, industries, and sectors for the very first time.
The survey results revealed that 95 percent of CEOs exhibit confidence in the revenue growth of their companies over the next twelve months. Interestingly, when the time frame extends to three years, there is a slight decline in the overall confidence levels to 92 percent.
Key insights from the survey included that the CEOs are optimistic about the revenue growth of their companies in the short to medium term with 95 percent expecting revenues of their companies to grow. The impact of government regulations is considered by 77 percent of the CEOs as the key factor driving the way their companies created, delivered, and captured value during the last five years.
According to the survey, 68 percent of CEOs believe generative AI will profoundly transform the way their companies create, deliver, and capture value in the next three years and 93 percent of CEOs consider improving energy efficiency as the most significant climate action.
Businesses currently seem to be in their early phase of implementation regarding climate-related actions. The most significant climate-related initiative on the agenda of the CEOs (93 percent responding that their actions relating to this have either been completed/in progress or are being planned) relates to achieving energy efficiency, the survey added.