The time for change is “now or never” for CEOs: John Veihmeyer

CEOs at the world’s largest companies feel that the next 3 years will be critical in shaping and transforming their industry. That’s a key finding of KPMG’s 2016 CEO Survey of nearly 1300 CEOs from companies with annual revenues of $500 million up to more than $US10 billion.

In a foreword to the report, John B. Veihmeyer, chairman of KPMG International, said put simply, CEOs are telling us the time for change is “now or never.”

While most CEOs are relatively bullish about future prospects, yet top corporate leaders believe they don’t have enough time to think strategically about disruption and innovation.

Top 17 Concerns For The World’s CEOs In 2016:

1. Customer loyalty: 88%

2. Impact of the global economy on their company: 88%

3. Lack of time to think strategically about the forces of disruption and innovation shaping their company’s future: 86%

4. How Millennials and their differing wants/needs will change our business: 86%

5. Our competitors’ ability to take business away from our organization: 86%

6. Whether our organization is staying on top of what’s next in services/products: 85%

7. Having to consider the integration of basic automated business processes with artificial intelligence and cognitive processes: 85%

8. That regulations will inhibit our growth: 85%

9. The quality of the data I’m basing my decisions on: 84%

10. The value and quality of external audit: 84%

11. The relevance of our products/services 3 years from now: 82%

12. Whether our organization is keeping up with new technologies: 77%

13. That the next 3 years will be more critical for my industry than the previous 50 years: 72%

14. The number of additional mission-critical issues that I have not grown up with/ experienced previously in my career that I need to take a leadership position on: 69%

15. That new entrants are disrupting our business model: 65%

16. That we don’t have an effective strategy to counter convergence in the market: 59%

17. That our organization is not disrupting business models in the industry: 53%