Bangladeshi CEOs much less positive about long-term viability: PwC

• Inflation, macroeconomic volatility and geopolitical pressure best threats
• 50% CEOs see no viability in 10 yrs with out transformation 
• 69% CEOs (69%) say no process minimize plans

Corporate bosses are much less positive about long-term viability in their companies with out important transformation, regardless that greater than part of them hope their companies will develop within the yr forward, says a PwC survey.

Greater than a part of leader government officials (53%) surveyed in Bangladesh are assured that their trade will develop within the yr forward, however they see inflation, macroeconomic volatility and geopolitical tensions as best threats, in keeping with the PwC survey.

On the other hand, not up to 50% of CEOs are positive concerning the long-term financial viability in their companies and suppose their present trade style might be viable for greater than 10 years. That is not up to international findings the place 59% of CEOs international imagine that their companies will last longer than ten years.

PwC Bangladesh on Thursday printed the Bangladesh views of the PwC’s twenty sixth Annual International CEO Survey, which polled 4,410 CEOs in 105 nations in October-November 2022, together with 32 CEOs from Bangladesh. The worldwide document, introduced previous this yr, gives an perception into how CEOs are navigating essentially the most urgent problems with the day.

Against this with their international friends, CEOs in Bangladesh are extra involved concerning the ongoing international provide chain disruption than regulatory adjustments because of the rustic’s vital reliance on import of uncooked fabrics in addition to sturdy dependence on exports and remittances. Technological disruption, regulatory adjustments, talent shortages, the specter of new entrants and transition to new power assets also are believed to have vital affect on trade profitability, the survey unearths.

Even though CEOs are making an attempt to spice up income expansion by way of diversifying choices, expanding costs of services, and lowering running charge to minimise the commercial demanding situations, reducing jobs or pay continues to be no longer prime on their time table, the survey unearths.

Not up to 20% have taken cost-cutting movements – similar to slashing repayment, enforcing a hiring freeze and reducing the body of workers, whilst greater than part don’t seem to be prepared to take such measures within the close to destiny.

Many CEOs take talent upgrades and capability development of the body of workers as a concern to organize workers for extra ingenious paintings and abilities suitable with the Good Bangladesh imaginative and prescient.

“If controlled proactively, the telecom sector will play a pivotal position in boosting the financial system,” believes Yasir Azman, CEO of Grameenphone. 

Lots of the CEOs of Bangladesh really feel that it is a very powerful for them to reinvent their companies to turn into future-ready, the survey unearths, mentioning circumstances of ready-made garment exporters exploring export markets in rising international locations to steadiness in opposition to the gradual financial expansion within the western global.

“Bangladesh is among the maximum resilient economies nowadays and will carry out smartly even in tough occasions,”says Rajesh Surana, former CEO and nation consultant of LafargeHolcim Bangladesh.

The PwC survey highlights the desire for progressed company governance and corporate board’s independence to maintain the trade expansion.

“We want to build up our center of attention on inexperienced tech challenge financing and suitable monetary the aid of all stakeholders,” says Syed Mahbubur Rahman, Managing Director and CEO of Mutual Agree with Financial institution, Bangladesh.

Whilst international CEOs prioritise trade advantages for ecosystem construction, their friends in Bangladesh center of attention extra on addressing societal problems, the PwC survey presentations.

Cyber defence is turning into part of the method of sectors like banking and telecom which might be extra at risk of the danger of cyberattacks, it unearths.