Greg Gerber posted on December 02, 2008 12:06
NEW YORK -- Although CEOs worldwide are still very concerned about executing their corporate strategy, concerns about finances, risk management and confidence in the business community are growing in importance to them, reflecting today’s highly uncertain economy, according to a global survey of chief executives released today by The Conference Board, a global research and business membership organization.
The survey – issued by The Conference Board in CEO Challenge 2008-Financial Crisis Edition – features an analysis of the matched sample of responses of 190 CEOs, chairmen, and company presidents who participated in The Conference Board CEO Challenge 2008 survey fielded in July and August, and then took the time to fill out the survey a second time in October, following the recent economic downfall emanating from Wall Street.
When asked to rate their greatest concerns from among 94 different challenges, the matched sample of chief executives participating in this year’s survey chose excellence of execution as their top challenge for the second year in a row.
But 46.7 percent of survey participants – up from roughly half that (24.5 percent) in the summer – were most concerned about speed, flexibility and adaptability to change. Global economic performance (44.6 percent) and financial risk including liquidity, volatility and credit risk (43.8 percent) were the fourth and fifth most pressing concerns, but were not in the Top 10 list of concerns in the summer survey. Business confidence also jumps into the Top 10, moving up 25 ranks from 34th out of 94 challenges to 9th. Those rating business confidence as being one of their “greatest concerns” rose four-fold from 9.1 percent in July/August to 36.3 percent in October.
“The CEO mindset is focused and the atmosphere is intense,” says Jonathan Spector, chief executive officer of The Conference Board. “Clearly, weakening economic conditions are a growing concern to CEOs worldwide, as they plan their business strategies and financial targets for the coming year.”
SOURCE: Conference Board press release