Canadian CEOs are preparing for the future by setting strategic priorities, addressing emerging business risks and laying the groundwork for future growth, suggest the results of a recent KPMG survey.
Economic turbulence, geopolitical instability and massive business disruption are moving at a pace faster than ever before, says KPMG, and the firm’s 2017 CEO Outlook report highlights that Canadian CEOs recognize the importance of disruption and view it as an opportunity, not a threat, for their business.
Indeed, 75% of Canadian CEOs perceive disruption as an opportunity, not a threat, while 86% are working to be first-movers in terms of disrupting their market, according to the report.
When it comes to growth opportunities over the next three years, Canadian CEOs also see the benefit of staying closer to home, with 31% planning to further exploit the Canadian market, 24% casting their eyes towards the US, and 63% expanding their focus to Central and South America.
To seek growth in a turbulent new world, most Canadian CEOs plan to increase penetration in existing markets and focus on innovation instead. They are much less inclined to pursue new verticals—76% do not view it as a priority in Canada, while 63% view it as a priority globally—or expand into new geographical markets (again, a much lesser priority in Canada than globally).
“In recent years, it has become clear that the world’s most successful companies are those capable of constantly evolving in response to continually shifting customer expectations,” reads the report. “Organizations that fail to keep pace could find themselves seriously disadvantaged.”