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Globally, 40 percent of CEOs fear that their companies may no longer be financially viable in ten years’ time if they continue on their current course.
Bangladesh CEOs who participated in the survey were younger than their global counterparts, with 63 percent of them being over the age of 50.
CEOs in Bangladesh are concerned about the long-term economic viability of their businesses, despite the country’s strong economic growth. Changing customer preferences and global supply chain disruption were cited as the most prominent challenges. Despite this, more than half of CEOs are confident of their company’s growth over the next 12 months.
The CEO of Bangladesh recognized the potential for further disruption and expressed the need for change to be future ready. According to the PwC survey, they cited several challenges to their industry’s profitability over the next ten years, with changing customer preferences being the top challenge, followed by global supply chain disruptions.
Bangladesh CEOs were more concerned about supply chain disruptions than regulatory changes due to the country’s significant reliance on raw material imports and its strong reliance on exports and remittances.
In addition, CEOs in Bangladesh highlighted the increased exposure of their businesses to climate change over the next five years, despite the fact that less than 10 percent of companies in the country have implemented a climate strategy, and only 3 percent have reduced carbon footprint. – has been adopted. Pricing initiative.
With regard to threats to their business, CEOs in Bangladesh perceive inflation, macroeconomic instability and geopolitical conflict to be the most vulnerable for the next 12 months. In the medium to long term, they are more concerned about climate change.
Despite their concerns about the future, more than half of CEOs in Bangladesh are confident about their company’s growth over the next 12 months. They estimate that the top six countries that will play a strong role in driving revenue growth over the next 12 months include one country from North America, three from Asia and one from Europe, with the US leading the list.
The survey also found that CEOs in Bangladesh spent most of their time strategizing for the future, followed by driving business performance and capacity building of human resources. However, they want to focus more on connecting with customers rather than developing their businesses for the future.
“Inflation pressures have been high in Bangladesh over the past 12 months, but not as high as many peer economic jurisdictions. However, managing inflation will be critical to sustaining the country’s growth.’ Mamoon Rasheed, Managing Director, Country Clients and Market Leader – PwC Bangladesh,
Fibre2Fashion News Desk (DP)