(MENAFN- Trend News Agency) On 18 May 2023, PwC Azerbaijan presented the 6th Annual CEO
Survey findings at Four Seasons Hotel Baku. The focus is on a
delicate balance between business reinvention and managing
short-term pressures. The survey highlights the increasing tensions
faced by the leaders as they navigate immediate challenges such as
macroeconomic volatility, geopolitical uncertainty and
technological disruptions whilst simultaneously transforming their
businesses to adapt to long-term threats and trends.
The report offers valuable insights into how CEOs are addressing
these pressing issues, emphasising the importance of empowering and
engaging employees in the face of today's economic environment and
long-term disruptors.
The event attracted a diverse audience, including over 100 CEOs,
representatives from the embassies, the public sector and the
media. Movlan Pashayev, Country Managing Partner of PwC Azerbaijan,
presented the survey findings and moderated a panel discussion
titled "Winning Today's Race While Running Tomorrow's." The panel
featured the industry leaders, Zarina Zeynalova, CEO of Azercell,
Teyba Guliyeva, CEO of Societe Generale Caspian Region, Jalal
Gasimov, CEO of PASHA Holding, and Florian Sengstschmid, CEO of the
Azerbaijan Tourism Board. Together, they delved into critical
topics of the business environment, digitalization trends,
investment strategies and sustainable practices.
Reflecting on the survey findings, Movlan Pashayev remarked:
"Our survey of Azerbaijani CEOs reveals a shift in sentiment:
cautious optimism for economic growth in their country while
acknowledging global economic challenges. They are actively
reinventing their businesses through digital transformation,
diversification, and employee engagment, demonstrating resilience
and adaptability in a changing landscape."
Key survey insights:
52% of Azerbaijani CEOs are confident in the long-term
financial viability of their companies. Azerbaijani CEOs are more optimistic about the economic growth
within their own country compared to global and regional
peers. Changes in regulation, labour shortage, and changing customer
preferences are expected to impact long-term profitability. Inflation and geopolitical issues are the top concerns in the
next 1-5 years. Azerbaijani CEOs are diversifying products, reducing operating
costs, and seeking alternative suppliers in response to a possible
economic downturn. Employee attrition rates are expected to remain high. Investments are primarily directed towards process automation,
upskilling the workforce and technology deployment. Azerbaijani CEOs are more confident in their company's growth
prospects compared to the previous year.
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