Growing Your Business™ discusses the opportunities and challenges that leaders of privately owned businesses face, suggesting ways they can make the most of both.
Private company CEOs are assessing and preparing for the various ways their businesses will be changed by – and can capitalize on – long-term trends such as technological advances, demographic movements, global economic shifts, resource scarcity, and urbanization.
Is your company as profitable as it could be? Reconciling the need to trim with the need to grow entails working through a much more complex set of considerations than in the past. For many companies, it might be time to abandon conventional wisdom and do things differently.
Private companies are leading the charge in making entrepreneurial use of social media, mobile devices, and other digital avenues to get closer to their customers. While these companies are still in the minority, more are likely to follow suit as competition for customers continues to heat up.
Globalization, economic realignment, and rapid technological change are likely to drive volatility for years to come. Against this backdrop, private companies need to rethink their approach to risk so that shocks to the system won't derail corporate strategy and undermine growth.
In today’s world of emerging technologies, emerging markets, and emerging consumer demands, companies must emerge too — out of old molds and into new ones — if they are to survive and thrive. For some companies, that means reinventing themselves. For others, it’s about seeking innovative ways to make their business newly relevant. Read about why 75% of US private companies are prioritizing innovation, with growth as their top objective.
Businesses are going where demand is growing. That means venturing into new markets abroad — a move that doesn’t come naturally to all private companies yet may be more manageable than they think.
Cyber criminals are increasingly targeting private companies in hopes of easy access. The cost to a business can be high, ranging from financial loss to reputational damage. With heightened awareness, private companies can fight back.
A clearly communicated succession plan signals that the business is here to stay. Lack of a plan, on the other hand, may suggest an uncertain future for the business in an already uncertain economy. Early planning can nip that concern in the bud.
|The Growing Your Business™ publication is provided by PwC for general guidance only, and does not constitute the provision of legal advice, accounting services, investment advice, written tax advice under Circular 230 or professional advice of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult with a professional adviser who has been provided with all pertinent facts relevant to your particular situation. The information is provided ‘as is’ with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties or performance, merchantability, and fitness for a particular purpose.|