In a recent survey conducted by PwC Bangladesh, it was revealed that a higher number of chief executive officers (CEOs) working in firms in Bangladesh are optimistic about the economy’s improvement in the next year compared to the previous year. The survey, which included 52 local CEOs as part of a global survey covering 105 countries and territories, found that 36 percent of the CEOs are expecting the economic growth rate to improve, up from 31 percent in the previous year.
Despite facing challenges such as high inflation, low foreign currency reserves, and a sudden rise in energy prices, the CEOs in Bangladesh are looking towards the future with positivity. The survey highlighted that local CEOs are adapting to the dynamic global business landscape by embracing changes and opportunities.
One of the key takeaways from the survey is that approximately 57 percent of CEOs in Bangladesh anticipate the need for significant business model changes over the next decade, aligning with global trends towards innovation and sustainability. Moreover, nearly half of them have already adopted new technologies to enhance their business operations, with 28 percent developing new technology in-house.
The CEOs in Bangladesh are also making progress in driving decarbonization initiatives within their companies, with 72 percent reporting improvements in energy efficiency programs. They are optimistic about the impact of artificial intelligence (AI) on their organizations, with 79 percent expecting generative AI to increase efficiencies in work time and 74 percent anticipating improvements in employees’ efficiency within the next 12 months.
Arijit Chakraborti, director and office managing partner at PwC Bangladesh, noted the increasing focus of CEOs on assessing their organization’s long-term relevance in the face of global megatrends. Mamun Rashid, country clients and markets leader at PwC Bangladesh, emphasized that CEOs are leading the transformation of their organizations through technology adoption, driving impactful changes, and delivering meaningful results for stakeholders.
In conclusion, PwC Bangladesh suggested that CEOs in Bangladesh need to champion transformative leadership by emphasizing adaptability, innovation, and sustainability to navigate evolving market dynamics. By investing in digital capabilities, fostering a culture of continuous learning, and aligning organizational objectives with changing consumer preferences and regulatory landscapes, CEOs can ensure sustained growth and competitiveness in a rapidly changing world.
