PwC’s global survey of over 1,400 CEOs reveals a shift in the definition of business success in today’s rapidly changing world. Instead of focusing solely on financial performance, businesses are now considering a broader range of measures, including social and environmental impact. PwC’s report, titled “Redefining business success in a changing world,” shows that 64% of CEOs believe that corporate success is about more than just profit margins.
Specifically, businesses are increasingly looking at their role in the wider community, with 75% of CEOs surveyed stating that satisfying societal needs beyond shareholder expectations is important. Additionally, 83% of CEOs are taking steps to minimise the environmental impact of their operations.
The survey also highlights the importance of trust in a digital age. A staggering 91% of CEOs agree that they must uphold and strengthen trust in their companies, especially as cybersecurity threats loom large.
Notably, despite the growing importance of these broader measures, financial performance remains a significant factor for businesses, with 76% of CEOs stating that business success in the 21st century will be defined by more than financial profit.
In essence, PwC’s global CEO survey paints a picture of a business world that is evolving to meet societal and environmental needs, while still maintaining a focus on financial performance.
Go to source article: http://www.duperrin.com/english/2016/04/28/redefining-success-changing-world-pwc/