Greek CEOs are reshaping their strategies in a bid to make their companies more resistant to shocks after suffering the impact of Covid-19 and given geostrategic challenges such as the Russian-Ukrainian war, according to research published by EY.
According to ΕΥ 2022 CEO Outlook Survey conducted on Greek managers from 12 main segments of the economy, the managers are adjusting their investment program to face the impact of Covid-19 and are taking measures to be prepared in the event of a market shock.
Key points to remember:
-54% believe the pandemic has caused short-term disruption while 16% said it has caused fundamental change for the better and 12% for the worse; 12% said it only accelerated existing trends in their industry
-62% said they adjust their strategic investments to manage the risks associated with geopolitical tensions
-55% (out of 62%) said growing uncertainty forced them to delay or halt planned cross-border investments
-CEOs surveyed acknowledged that the post-pandemic reality holds significant opportunities
-41% (vs. 59% of CEOs globally) said they would actively seek mergers and acquisitions in the next 12 months
-As labor shortages intensify and consumer demand unexpectedly increases, creating significant disruptions in global supply chains, Greek CEOs have taken steps to increase the operational resilience of their businesses and reduce logistics costs
– one of the main concerns of Greek leaders is changing demographic trends and unstable economic growth (19%), the use of technology and data by competitors (16%) and uncertainty about the evolution of transformational technologies (15%).
-Greek business leaders recognize that investing in new technologies can accelerate organic growth and create value
-a growing number of Greek CEOs believe that their sustainability strategy will give them a competitive advantage: 75% said their investors strongly supported rounded investment plans and 65% said these plans met with resistance, with investors citing costs and potential long-term returns as major concerns.
“In this rapidly changing environment, Greek CEOs, alongside the survival and growth of their businesses, must balance with an ever-expanding stakeholder ecosystem. Digital transformation, talent attraction and retention as well as a focus on ESG issues will be key priorities,” said Iossiphid CupsPartner and Chief Advisor of Corporate Strategy and Transactions of EY Greece.
“At the same time, and while a conservative approach may seem like a safe bet in the current environment, bold investment options that transform portfolios could prove crucial for future growth,” he said. added.
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