"There are signs that Greek economy is returning to growth. We may now focus on the future. The findings of the 22nd CEO survey initiate a dialogue around 4 areas of importance: Growth, Data and Analytics, People and Artificial Intelligence.
In the era of technological disruption, businesses need to identify not only the opportunities but also the threats urging for proactive actions. Extraction of credible data is key in effective decision making whereas AI is expected to transform our business perception amongst other things. People reskilling will play crucial role in the years to come which should be one of the top priorities for both workforce and employers in order to remain relevant.
In a constantly evolving environment cultivating agility, seeing the bigger picture and adapting to global megatrends is what will boost performance in all areas and lead to a sustainable future."
Marios Psaltis, CEO, PwC Greece
Key findings
Growth: Reality check
Confidence in organisations’ revenue growth prospects has fallen sharply.
Generally, three-year confidence is the highest number, meaning that the longer they look regarding their company's’ performance the more confident they are.
Faced with new realities, organisations are turning inward to drive revenue growth.
The inside-out approach to growth is confirmed in CEOs’ responses to this question. Overwhelmingly they respond with internally focused initiatives as the operational growth and operational efficiencies. 79% of Greek CEOs will rely on organic growth to drive revenues.
Threats and opportunities: Look inside out for growth
54% of Greek CEOs are concerned regarding the increasing tax burden in the country differentiating Greece significantly from global concerns
Tax burden has been an important concern for Greek CEOs for the last years. However there is a significant drop since the peak of 2017
Cyber security is a global issue for all companies.
82% of Greek CEOs responded that proactively manage security and privacy risks when adopting new technology and 79% are cyber resilient. These rates are higher than those resulting from responses by the CEOs of other countries, raising a valid concern that the high positive responses may imply a low awareness of the real threats.
Data & Analytics: Mind the information and skills gap
Despite the fact that Greek CEOs respond that they rely on data to get insights about corporate performance, they also say that those data lack quality. From global perspective CEOs are reluctant to rely solely on data
People
Changes in workforce hiring. Retraining of our people is becoming key challenge
Retraining is favoured to bridge skills gaps, and also relying on establishing a strong pipeline from education
Artificial Intelligence
The importance of AI is recognised, but most Greek companies are falling behind in planning and implementation of initiatives
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