“I think the winners of tomorrow will be the companies that are able to adapt to a continuously changing environment in order to achieve future growth.”
Paolo Maria Tafuri, Managing Director of Danone Kft.
What do CEOs think about their growth prospects in Hungary and globally? What has the biggest impact on their operation, and how are they adapting their companies to a rapidly changing market environment? The top executives of 171 companies took part in the 2nd Hungarian CEO Survey, prepared this year by the Hungarian member firm of PwC, the world’s largest professional services network. Seeking answers to the above and other questions, the survey was conducted in cooperation with the Confederation of Hungarian Employers and Industrialists (MGYOSZ).
Our survey shows that, despite the generally negative mood, Hungarian CEOs are very confident about their companies’ prospects for revenue growth for the next 12 months, while only 5% expect the Hungarian economy to grow. CEOs are even more optimistic about revenue growth in the longer term: 71% expect their prospects to improve over the next three years. The responses given by the 1,330 CEOs polled for the global survey paint a similar picture: 81% of global CEOs are confident about their companies’ growth prospects for the next 12 months, and 90% for the next three years. However, only 18% expect the world economy to improve.
Where do CEOs see growth opportunities?
Hungarian CEOs, like their global counterparts, see the potential for growth primarily in the development of new products, and in expanding in their existing domestic markets. However, it is also clear from our survey that, in order to exploit the above potential, Hungarian CEOs have to consider three important factors.The most important factor is improving relations with the two groups of stakeholders that have the biggest impact on businesses: regulators and customers. Another important factor which directly influences a company’s success is its CEO’s personal vision about business operation and their leadership style.