Optimism for the Company and Pessimism for the World: Fortune/Deloitte CEO Survey Summer 2024
In the Fortune/Deloitte CEO Survey Summer 2024 , 73% of the 80 primarily American CEOs who responded expressed optimism about their company’s future, with 12% of them being very optimistic and 61% optimistic.
For industry performance, 69% are optimistic, split between 7% very optimistic and 62% optimistic.
Regarding the global economy, only 29% of CEOs are optimistic, with just 3% very optimistic and 26% optimistic. This is a steep decline from February 2024, when global optimism was much higher.
CEO Optimism Reflects That of Their Kids and Their Parents
This pattern of more personal optimism versus broader pessimism is seen among CEOs and broader population trends in the U.S. and Australia.
Looking at the American data, the CEOs sound like their parents and their children - there is a surprising lack of leadership for the national or global economy.
Like their CEOs, older Americans and younger generations express high optimism about their personal futures but are sceptical about national and global prospects.
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Control and Optimism
Martin Seligman’s theory on control explains this gap: individuals are more optimistic about things they can directly influence, such as CEOs steering their businesses. At the same time, they are more pessimistic about uncontrollable external factors like inflation and geopolitical risk.
This trend is reinforced by many CEOs' confidence in their organisations' resilience despite external uncertainties.
Strategies for Cultivating Broader Optimism
To address the gap between personal and societal optimism:
Adopt The Optimism Principle : Promote a mindset rooted in optimism, which correlates with higher resilience and innovation. "The answer to life's most pressing questions is optimism," wrote Robert Masters AM LFCPRA and me.
Understand the Optimism Effect : Optimism is the key driver of investment in R&D, productivity and greater economic progress.
Become Magnetically Optimistic: Introduce The Centre for Optimism's Magnetic Optimism workshops to cultivate contagious optimism within leadership and teams.
How can these strategies help you foster a more optimistic culture within your organisation and beyond?