Concerns over a potential recession are easing, but implementing new tech remains a challenge, according to the survey.
After three arduous years of reacting to disruptions and waiting for an economic downturn, businesses have switched to eyeing growth and advancement despite some lingering concerns, according to a new survey from PricewaterhouseCoopers.
PWC says business executives are focusing less on reacting to external disruptions and more on reinventing and transforming themselves.
Business leaders — who once were forced to focus on the COVID-19 pandemic, supply chain issues, problems retaining and hiring quality labor, and other issues — now say they’re becoming more optimistic, according to the study.
While 88% of respondents said they’re still struggling to implement important tech changes, nearly three-quarters responded that they have “the right culture for reinvention.”
Among the key findings from the study:
- Just 17% of business executives strongly agree that there will be a recession within the next six months, down from 35% in October 2022.
- Over a quarter (27%) said they want to integrate new technologies into their business models, and 24% said they want to focus on generating new revenue streams.
- Almost three-fourths (74%) say they are able to attract and retain talent.
Learn more about the new survey here.
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Mark Powell is MDM’s Associate Editor. He is a former mainstream news reporter and editor and has worked in the online, print, radio and TV news industries. Mark earned a bachelor’s degree from San Jose State University and a master’s degree from California State University, Bakersfield. He has lived and worked in various cities across California, Colorado and Kansas and currently lives in Shafter, California.
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