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What’s expected of leaders in this ever-changing world?
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For more insights from high-growth entrepreneurs and business leaders, visit ey.com.
—David Heath, CEO and Cofounder, Bombas
”
We’re living in an incredibly dynamic environment. I look at the three buckets that are in my care within my business specifically: It’s my customers, it’s my employees, and it’s the community I’m serving. Whenever I put those three groups at the center of every decision and look at the impact of those decisions through their lens … nine times out of 10, it leads me to the best decision possible.
“
Today’s leaders are facing unprecedented challenges:
How business leaders can persevere through uncertainty
Entrepreneurs staying ahead in a changing world
A New Era of Leadership
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ongoing pandemic-related disruptions, geopolitical conflicts, economic volatility, banking sector instability, and more. Amid all this uncertainty, business innovators are being asked to transform their organizations and find new growth opportunities. That requires confidence and ingenuity, which isn’t an easy combination when the global economic outlook is foggy and every decision seems increasingly significant.
EY has pulse-checked CEOs and top entrepreneurs, finding their greatest concerns* to be:
Inflation
69%
Pandemic-related disruptions
43%
Geopolitical tensions
35%
Climate change & sustainability demands
35%
*Throughout the past six months
SOURCE: EY CEO Outlook Pulse Survey, October 2022
Rather than focus on the unpredictable, leaders must focus on the things they can control.
Customer-Centricity
Empathetic Leadership
Decisiveness
3 keys to successful leadership today
EY convened today’s top entrepreneurs, innovators, and thought leaders at its Strategic Growth Forum® to discuss ways to address an uncertain future with confidence. The firm also conducted timely pulse surveys to see what’s on leaders’ minds.
Here’s what they had to say about leading through adversity.
Like businesses, consumers are also facing disruption fatigue—first with the pandemic, then supply chain issues, and now inflation and a possible recession. Their expectations have changed, and they are watching their wallets. To drive growth during uncertainty, business leaders need to respond to consumers’ changing needs and values by pivoting messaging, pricing, product offerings, and/or channels.
1. Be customer-centric
Business leaders are reshaping their operations
to engage customers by
34%
34%
39%
using technology to optimize products/
services.
adopting
innovative pricing models.
integrating sustainability as a core aspect of products/services.
SOURCE: EY CEO Outlook Pulse Survey, October 2022
—Ravi Saligram, CEO, Newell Brands
”
“
Innovation starts with consumer insights and foresight, and asking, ‘Is it meaningful to the consumer?’ Everyone can build a better mousetrap, but if there are no mice around, then why build a mousetrap? Next, it’s about getting customer collaboration. Is your new product at the right price point? Yes, innovations are great ideas, but if they’re not profitable, that’s a problem.
Culture is leading the conversation:
2. Lead with empathy
Times of adversity are often the true test of an organization’s culture, purpose, and values. During volatile times, high-growth companies rely on effective hiring and retention to fuel their ambitions. It’s critical for leaders not only to shore up corporate culture and purpose, but also to lead with empathy and inclusion
to keep employees engaged and to build trust.
Workforce retention is one of the top two priorities for business leaders in the next six to 12 months.
SOURCE: A 2022 Strategic Growth Forum exit poll
42%
92%
of EY Entrepreneur Of The Year® alumni rank “reinforcing company culture and purpose” as a top priority.
of employees surveyed
across all four workplace generations said that culture has an impact on their decision to remain with
an employer.
SOURCE: EY Entrepreneur Of The Year® alumni survey, August 2022
SOURCE: The 2022 EY US Generation Survey, October 2022
—Anouck Gotlib, CEO, Belgian Boys; EY Entrepreneurial Winning Women™ 2021 Class Member
”
It’s one of my personal missions to
make the workplace into a place where people want to come in. It starts with your culture, [your] DNA—but it can’t just be buzzwords. It starts at the top. If I’m not happy to come to work, why would anyone else be happy to come to work?
“
—Gregory Daco, EY-Parthenon Chief Economist
”
“
SOURCE: EY CEO Outlook Pulse Survey, October 2022
of executives say they must radically transform operations during the next two years.
72%
Uncertainty doesn’t mean stagnancy:
3. Act decisively
Leaders must act decisively now to navigate new complexities or risk being left behind. Those who invest wisely in the short-term and with a clear sense of mission, especially in areas of technology and digitalization, will see long-term value and increased resiliency in the future.
of CEOs surveyed
intend to increase
capital investment.
64%
We still have to grow. We have to think about opportunities. It’s about building resilience and adaptability in this new environment. We can either hide our heads in the ground, or we can be proactive, understand the uncertainty, and take advantage of it.
Read
The entrepreneurial mindset that saved two
businesses after major pandemic hits
For more insights from high-growth entrepreneurs and business leaders, visit ey.com.
EY-Parthenon Chief Economist
—Gregory Daco
”
We still have to grow. We have to think about opportunities. It’s about building resilience and adaptability in this new environment. We can either hide
“
SOURCE: EY CEO Outlook Pulse Survey, October 2022
of CEOs
surveyed intend to
increase capital investment.
64%
of executives say they must radically transform operations during the next two years.
72%
Uncertainty doesn’t mean stagnancy:
Leaders must act decisively now to navigate new complexities or risk being left behind. Those who invest wisely in the short-term and with a clear sense of mission, especially in areas of technology and digitalization, will see long-term value and increased resiliency in the future.
3. Act decisively
CEO, Belgian Boys; EY Entrepreneurial Winning Women™ 2021 Class Member
—Anouck Gotlib
”
It’s one of my personal missions to
make the workplace into a place where people want to come in. It starts with your culture, [your] DNA—but it can’t just be buzzwords. It starts at the top.
“
SOURCE: The 2022 EY US Generation Survey, October 2022
of employees surveyed across all four workplace generations said that culture has an impact on their decision to remain with an employer.
92%
SOURCE: EY Entrepreneur Of The Year® alumni survey, August 2022
of EY Entrepreneur Of The Year® alumni rank “reinforcing company culture and purpose” as a top priority.
42%
SOURCE: A 2022 Strategic Growth Forum exit poll
Workforce retention is one of the top two priorities for business leaders in the next six to 12 months.
Culture is leading the conversation:
Times of adversity are often the true test of an organization’s culture, purpose, and values. During volatile times, high-growth companies rely on effective hiring and retention to fuel their ambitions. It’s critical for leaders not only to shore up corporate culture and purpose, but also to lead with empathy and inclusion to keep employees engaged and to build trust.
2. Lead with empathy
CEO, Newell Brands
—Ravi Saligram
”
Innovation starts with consumer insights and foresight, and asking, ‘Is it meaningful to the consumer?’ Everyone can build a better mousetrap, but if there are no mice around, then why build a mousetrap? Next, it’s about getting customer collaboration. Is your
“
SOURCE: EY CEO Outlook Pulse Survey, October 2022
integrating sustainability as a core aspect of products/services.
39%
adopting
innovative pricing models.
34%
using technology
to optimize products/
services.
34%
Business leaders are reshaping their operations to engage customers by
Like businesses, consumers are also facing disruption fatigue—first with the pandemic, then supply chain issues, and now inflation and a possible recession. Their expectations have changed, and they are watching their wallets. To drive growth during uncertainty, business leaders need to respond to consumers’ changing needs and values by pivoting messaging, pricing, product offerings, and/or channels.
1. Be customer-centric
EY convened today’s top entrepreneurs, innovators, and thought leaders at its Strategic Growth Forum® to discuss ways to address an uncertain future with confidence. The firm also conducted timely pulse surveys to see what’s on leaders’ minds.
Here’s what they had to say about leading through adversity.
3 keys to successful leadership today
CEO and Cofounder, Bombas
—David Heath
”
We’re living in an incredibly dynamic environment. I look at the three buckets that are in my care within my business specifically: It’s my customers, it’s my employees, and it’s the community I’m serving. Whenever I put those three groups at the center of every decision and look at the impact of those
“
Decisiveness
Empathetic Leadership
Customer-Centricity
Rather than focus on the unpredictable, leaders must focus on the things they can control.
SOURCE: EY CEO Outlook Pulse Survey, October 2022
*Throughout the past six months
35%
Climate change & sustainability demands
35%
Geopolitical tensions
43%
Pandemic-related disruptions
69%
Inflation
EY has pulse-checked CEOs and top entrepreneurs, finding their greatest concerns* to be:
ongoing pandemic-related disruptions, geopolitical conflicts, economic volatility, banking sector instability, and more. Amid all this uncertainty, business innovators are being asked to transform their organizations and find new growth opportunities. That requires confidence and ingenuity, which isn’t an easy combination when the global economic outlook is foggy and every decision seems increasingly significant.
Today’s leaders are facing unprecedented challenges:
How business leaders can persevere through uncertainty
Back to Home
©2023 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy (Your California Privacy Rights). | CCPA Do Not Sell My Information Fortune may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions. | EU Data Subject Requests
Back to Home
WATCH
What happens when entrepreneurs fully unlock their ambition?
WAtch
How entrepreneurs deliver sustainable, inclusive growth
Read
Sustainable, inclusive growth: From promises
to progress
WAtch
What’s expected of leaders in this ever-changing world?
Read
The entrepreneurial mindset that saved two
businesses after major pandemic hits
Explore more
Read
How to build a resilient mindset
