Global business leaders view disruptive forces as opportunities and not threats to their business, with 65% of them saying disruption can have a positive effect while 75% are aiming to be the disruptor in their sector according KPMG 2017 Global CEO Outlook survey.
In Asean, it said the percentage recorded is higher with 92% and 83% respectively.
“Disruption has become a fact of life for CEOs and their businesses as they respond to heightened uncertainty,” KPMG global chairman John Veihmeyer said.
“But importantly, most see disruption as an opportunity to transform their business model, develop new products and services, and reshape their business so it is even more successful than ever before. In the face of new challenges and uncertainties, CEOs are feeling the urgency to ‘disrupt and grow,” he added.
KPMG’s survey covers 1,261 CEOs in ten key markets including Australia, China, France, Germany and India, and 11 key industry sectors such as automotive, banking, infrastructure and insurance. The survey was conducted between Feb 21 and April 11, 2017.
Amid heightened uncertainty around the global economic growth, 65% of the world’s business leaders remain confident on the outlook for the next three years, though this is a drop from 80% in 2016, according to KPMG recent survey.
Globally, the professional services firm said majority of the CEOs (69%) remain confident in their own industry’s growth prospects, while 83% are positive about their own businesses’ prospect over the next three years.
Furthermore, 74% of the CEOs view their organisation placing greater emphasis on trust, values and culture in order to sustain its long-term future, which is matched by 72% of CEOs who correlate being a more empathetic organisation with higher earnings.
KPMG’s survey further found that over the next three years, the proportion who are increasing investment in recruitment, will rise to 75%, which suggests that businesses are increasingly looking to hire more specialised talent in the years ahead – such as cognitive technology experts or those with greater insight into geopolitical issues.
Cyber security, which CEOs ranked as the top risk in 2016, has fallen to fifth position (out of 16) this year, with 42% adequately prepared for a cyber event – up from 25% last year.
However, managing partner of KPMG in Malaysia Datuk Johan Idris pointed out that this perception was recorded before the WannaCry ransomware outbreak in May 2017.
According to the live tracking system at KPMG’s Cyber and Digital Hub in Malaysia, to date, more than 530,000 computers in 150 countries have been affected by WannaCry, and is still expected to increase.
“In actual fact, ransomware attacks are nothing new and this latest incident reinforces the need for business leaders to remain vigilant and avoid complacency when it comes to governance in cyber space.
“We operate in a digital world today where breaches can happen anytime. Complacency will only increase the risks across the business, from operational to reputational, with lasting impacts,” Johan added.
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