PwC’s new 2014 US CEO Survey takes the pulse of executives nationwide to get a sense of where the C-suite should be optimistic, what company transformations to expect in 2014, and what impacts may result in the near future. Overall, CEOs have a remarkably positive near-term outlook and expressed far more optimism than in recent years.
This year, 61% of CEOs plan cost-cutting measures–down 12% from last year. Almost 9 out of 10 are pretty sure their company will deliver revenue growth this year, with 36% even thinking it is already certain.
Growth is in for 2014. Indeed, 62% expect to hire more people this year. According to PwC, that is the highest rate of anticipated “headcount expansion” in the last five years.
CEOs are also looking for ways to capitalize on potential within the existing structure, with 86% predicting that advancing technologies are what will transform their business over the next five years. Further, 36% believe that product and service innovation offers the main opportunity for growth in 2014.
Some other key trends on the horizon:
Respondents considered the BRIC countries notably less important to future growth, continuing a decreasing focus on these regions since 2011.
Transformational trends also showed a move away from focus on political and geographical efforts toward building and strengthening internal resources like technology.
CEOs are clearly focusing overwhelmingly on technology for growth. The specific developments generating the most interest for the C-suite are:
