Tuesday, March 23, 2021

g-f(2)176 THE BIG PICTURE OF THE DIGITAL AGE, 3/23/2021, PwC, 24th Annual Global CEO Survey. A leadership agenda to take on tomorrow.


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  • Survey methodology
    • PwC surveyed 5,050 CEOs in 100 countries and territories in January and February of 2021. The global and regional figures in this report are based on a sub-sample of 1,779 CEOs, proportionate to country nominal GDP to ensure that CEOs’ views are representative across all major regions. The industry and country-level figures are based on the full sample of 5,050 CEOs. Further details by region, country and industry are available on request. Ninety-three percent of the interviews were conducted online and 7% by post, by telephone or face-to-face. All quantitative interviews were conducted on a confidential basis.
  • Some key points
    • An improved outlook
      • When asked about their outlook on the global economy, 76% of CEOs say they believe it will improve during the next 12 months.
      • That’s nearly 20 percentage points greater than the previous record high for optimism, over all the years we have been asking this question.
    • Industry effects
      • Industries were affected in different ways by COVID-19, as lockdowns and other restrictions changed the way we work, live, travel and shop. This disparity is reflected in confidence levels, both in our survey results and in our interviews with CEOs. 
      • CEOs in technology are more confident than their peers in every other industry, a natural byproduct of the pandemic’s digital acceleration.
    • Lingering anxiety 
      • Despite their confidence, CEOs are acutely aware of threats in the external environment, starting with the obvious: pandemics and other health crises are the number one threat on this year’s list, with 52% of CEOs stating they are ‘extremely concerned.’
      • CEOs express increasing concern about cyber threats, misinformation and tax policy uncertainty.
    • Danger lurking online 
      • In contrast with the slow ascent of climate concerns, cyber has fast become a major source of anxiety. Now the number two concern, it was cited by 47% of CEOs, compared with 33% last year. 
      • Among CEOs in North America and Western Europe, it was the top threat. 
      • Likely influencing the response was the uptick in high-visibility cyberattacks during 2020, some revealed just weeks before our survey went out.
    • Digital acceleration 
      • The increase in CEOs’ concern about cyber threats and misinformation coincides with the rapid acceleration of many companies’ digital transformation during the pandemic—efforts that are not slowing down. 
      • Nearly half of CEOs plan increases of 10% or more in their long-term investment in digital transformation. 
      • Paradoxically, despite the level of concern CEOs registered about cyberattacks, just under half of those planning for heightened digital investment are also planning to boost their spending on cybersecurity and data privacy by 10% or more.

Category 2: The Big Picture of the Digital Age

[genioux fact produced, deduced or extracted from PwC]

Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).

Type of validity of the "genioux fact". 

  • Inherited from sources + Supported by the knowledge of one or more experts + Supported by research.

Authors of the genioux fact

Fernando Machuca


References




ABOUT THE AUTHORS



PricewaterhouseCoopers is a multinational professional services network of firms, operating as partnerships under the PwC brand. PwC ranks as the second-largest professional services network in the world and is considered one of the Big Four accounting firms, along with Deloitte, EY and KPMG.

PwC firms operate in 157 countries, 742 locations, with 276,000 people. As of 2019, 26% of the workforce worked in the Americas, 26% in Asia, 32% in Western Europe and 5% in Middle East and Africa. The company's global revenues were $42.4 billion in FY 2019, of which $17.4 billion was generated by its Assurance practice, $10.7 billion by its Tax and Legal practice and $14.4 billion by its Advisory practice.

The firm in its present form was created in 1998 by a merger between two accounting firms; Coopers & Lybrand, and Price Waterhouse. Both firms had histories dating back to the 19th century. The trading name was shortened to PwC (on-logo writing pwc) in September 2010 as part of a rebranding effort.

PricewaterhouseCoopers International Limited, based in London, England, is a co-ordinating entity for the global network of firms. It manages the global brand, and develops policies and initiatives, to create a common and coordinated approach in areas such as risk, quality, and strategy. It does not provide services to clients.

As of 2020, PwC is the fifth-largest privately owned company in the United States.


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