A rebound in confidence suggests that CEOs are confident about their company's growth prospects in 2017. But you’ll need to have a good plan in place and be prepared for opportunities, as well as the challenges.
The start of the New Year is a great time to dust off your business plan. Take the chance now to stand back and get a helicopter view of your business and do some sound planning. The best business plans often fit on one page. So put some work into really refining yours.
I predict there will be an increase in the number of business owners selling, or stepping back from day-to-day management this year. So you’ll need a good succession plan in place - particularly important if you are in a family-owned or owner-managed business. Some plans can take 10 years to complete, so the longer you leave it, the greater the risk to your business.
Also, think about your people. You can’t underestimate the value of your team and this year you may need to work on retaining key staff so your competitors don’t get them.
Whether its people, technology or your very own business model – prepare to focus on innovation more in 2017, as the status quo will not last.
Change is happening faster and becoming more radical, so I encourage you to keep thinking innovatively. Challenge your teams to think differently, consider customers as well as competitors (in the widest sense) and look to disrupt parts of your business.
More and more, a key trait of innovative businesses is the ability to embrace technology to drive value. Our 20th CEO survey launches on Monday 16 January at 17.30GMT. Our findings, based on research which included 126 UK CEOs confirms that after an eventful year, the indications are that technology, skills and globalisation all feature highly on their agenda for 2017.
This annual survey of business leaders sheds light on the key opportunities and challenges facing businesses today. To register for the live webcast, and to find out what’s on the minds of nearly 1,400 CEOS from around the world please click here https://www.pwc.com/gx/en/ceo-agenda/ceo-survey/davos-webcast.html