An interesting study just out reveals the alarming fact that too many CEOs feel unprepared to handle a crisis.
The poll of more than a thousand global company directors – 670 of them CEOs – finds they recognise the turbulent times facing their business in 2023. But surprisingly few feel well-placed to handle significant business disruption.
Sixty-one percent of CEOs said they feel unprepared to deal with financial instability, 69% with high inflation, 72% with supply chain disruptions, 84% with extreme climate events, 87% with civil unrest and 92% with war.
The study, by think tank The Conference Board, is titled ‘On the edge: driving growth and mitigating risk amongst extreme volatility.’
There are glimmers of positive news in it, though, for those of us who believe marketing is vital to companies’ performance in tough times as well as good. It found that “CEOs place marketing in their top three investment areas to ensure medium-term growth.”
You can read the full research report, including a detailed breakdown of CEO responses by risk area and global region.
And see more on our crisis communications services – including ways we can help you prepare for business disruption.
