The accounting firm, PriceWaterhouseCoopers, has conducted a survey of global CEOs over the past 12 years. In this year's survey completed in December of last year some important results are reported. PwC notes:
CEOs around the world are retrenching, indeed many claim to be entering ‘survival mode.’ Our 12th Annual Global CEO survey shows how the financial crisis shattered short-term confidence. The percentage of CEOs who were ‘very confident’ about their one-year revenue growth prospects dropped to 21%, the lowest level in six years. Uncertainty about the future is still running high and confidence no doubt continued to deteriorate after we completed the survey in early December.
- Q: How would you assess your level of confidence in prospects for the revenue growth of your company over the next 12 months?
- Q: How would you assess your level of confidence in prospects for the revenue growth of your company over the next 3 years?
Nearly 70 percent of CEOs say that their companies will be affected by the credit crisis. Of those, nearly 80 percent say that they face higher financing costs, and nearly 70 percent say that they will delay planned investments as a result. Companies in the banking, utilities, construction, entertainment and automotive sectors are most likely to be affected.
- Q: What do you expect to happen to headcount in your organisation globally over the next 12 months?
- Q: How important are the following aspects of a country’s tax regime at influencing your investment decisions?
12th Annual Global CEO Survey: Redefining Success (pdf)