The stark future facing chief executive officers has been revealed in a PwC survey which found nearly 40 per cent of those surveyed did not think their companies would be economically viable in a decade if they continued their current path.

The results of the 26th annual PwC CEO Survey were in contrast to more upbeat assessments of previous surveys.

PwC said the results were consistent across a range of sectors including technology, telecommunications, health, and manufacturing.

“When asked about the forces most likely to impact their industry’s profitability over the next 10 years, about half or more of surveyed CEOs cited changing customer preferences, regulatory change, skills shortages and technology disruption,” the report said.

“Roughly 40 per cent flagged the transition to new energy sources and supply chain disruption.

“And nearly one-third pointed to the potential for new entrants from adjacent industries.”

On a positive note, the survey found that a majority of CEOs expected revenue growth in the next 12 months, despite the ongoing challenges posed by the COVID-19 pandemic.

Many acknowledged the need to adapt to the changes brought about by the pandemic and are focused on implementing digital solutions to improve their operations and better serve their customers.

In addition to focusing on digital transformation, many CEOs are also prioritising sustainability. They recognise that their companies have a responsibility to create a more sustainable future and are taking steps to reduce their environmental footprint and promote sustainable practices within their organisations.

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