Top Growth Strategies that Every CEO Should Follow During Turbulent Times

Facing Turbulent Times Head-On: Recession, Inflation & Geopolitical Tensions

CEOs are no strangers to turbulent times, but the past year has been incredibly challenging. In the wake of the pandemic, businesses have been forced to grapple with high inflation, geopolitical tensions, and fears of a recession.

But despite these headwinds, many companies have shown remarkable resilience. Thanks to agile decision-making and innovative thinking, businesses have been able to adapt and even thrive in the face of adversity. As we move into Q4 of 2022 and look forward to 2023, CEOs must lean on these qualities to navigate the challenges ahead.

But with a proven track record of resilience, there's reason to be optimistic about the future. Companies that can weather these challenges will emerge stronger and more prepared for whatever comes next. By staying focused on growth and investing in strategic initiatives, businesses can position themselves for a successful future.

The following article identifies the most salient points in KPMG's 2022 CEO Outlook report.

?? Transformation, Disruption, M&A

CEOs are preparing for economic turbulence but remain confident in long-term business growth. As the pandemic has shown us, the opportunity that disruption brings to transform business models and develop a future-ready foundation is unlike any other. In moments where, traditionally, many tend to pull back, CEOs can unlock new strategic growth opportunities by accelerating their investments in digital and impactful M&A deals.

Much of the future growth will be generated inorganically, with more than half (56%) of U.S. CEOs expressing a high appetite for M&A over the next three years that will significantly impact their overall organization.

??Optimize technology

There's a big push to either be leading or a fast follower. Many companies can be outmaneuvered if they can't keep up with disruptive technology. The success of digital transformation hinges on having a clear strategy and communicating the objectives of your digital transformation strategy throughout your whole organization.

Emerging technology is disrupting how consumers work, play, think and live, proving a potential concern for companies that fail to keep up with their competitors. Thinking one step ahead on how disruptive technologies such as blockchain and the metaverse can augment the employee, customer, and product experience will provide an opportunity to outpace the competition and create a future-forward positioning.

?? ESG Strategy

A vast majority of CEOs believe that as confidence and trust in governments decline, the public is looking to businesses to fill the void on societal challenges (79%) and that significant ESG challenges, such as income inequality and climate change, are a threat to their company's long-term growth and value (76%).?

Amid deepening awareness of virtue signaling and greenwashing, having the necessary technology to measure and track ESG initiatives effectively is the top challenge in delivering ESG strategy.

Part of the difficulty with measuring ESG initiatives is the complexity of the data, which often originates from disparate sources that are different from the traditional sources of financial data. For instance, the oil and gas industry may use data gathered by sensors in pipelines, or devices embedded in meters, vehicles, or machines, says Fisher.

Additionally, comprehensive ESG data should cover all tiers of organizations' value chains and track inter-related social issues, such as ensuring a just transition and human rights.?

?? Talent

The pandemic's impact on employees continues to be top of mind for U.S. CEOs, who identified pandemic-related fatigue as the most pressing concern for their organizations today. Seventy-six percent of U.S. CEOs believe they must address burnout from accelerated digital transformation over the past two years before continuing their transformation journey.

Expanding the concept of the employee value proposition has been one of the most important outcomes of the pandemic. During the pandemic, that value proposition for employees evolved into the whole experience companies offer—financially, mentally, socially, and physically.?Companies must present employees with a value proposition that aligns with what an individual candidate finds the most valuable for their work life.

??Where We Come In

Having talented creative partners that can move at the speed of your business is imperative during this time. At Craft & Root, we partner with brands looking to optimize customer experience and drive revenue, whether with your website, packaging, graphic design, or marketing strategy. Get in touch today to see what we can do for your business.

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