This is how you run a business in these complicated times

PwC’s 19th Annual Global CEO Survey indicates the business environment is now faced with issues like over-regulation, an increased tax burden, geopolitical uncertainty exacerbated by regional conflicts, and increased terrorism attacks.

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More disorienting for CEOs is the growing feeling that the globalised economic and social fabric is fraying as divergent political, business, societal, and cultural movements take hold. This societal change is driven by digital technologies that have enabled people all over the world to be more connected, better informed, and, as a result, increasingly empowered and emboldened.

The study indicates that CEOs have also realised they must navigate a world that is being dramatically shaped by other megatrends such as increasing urbanisation, climate change, and rapid demographic and social shifts.

“Faced with these changes, CEOs tell us that customers will increasingly judge companies based on how they help greater society and how they live up to their own values,” PwC Chairman Dennis Nally said during the release of the survey results during the opening day of the annual meeting of the World Economic Forum in Davos on January 19, 2016.

"Notably, nearly a quarter of CEOs said their company has changed its sense of purpose in the last three years to take into account the broader impact it has on society,” he added. Nally said most CEOs indicated they are employing technology to successfully address the expectations of a super-connected and technologically smart society.

“Internet-enabled technologies continue to help companies innovate by creating more relevant products and user experiences for customers, while ‘digital native’ talent is now deemed essential for future business growth,” he said.

According to PwC, the survey drew insights from over 1,400 company leaders from 83 countries. The annual survey of business leaders sheds light on the key opportunities and challenges facing business today.​

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