Categories: Career Development, Innovation, Leadership, Project Delivery, Project Management, Soft Skills
KPMG released their U.S. CEO Outlook 2019 report with survey results from 400 U.S. CEOs. Key Findings from the survey provided some very relevant insights for Project Leaders who want to grow in their careers and remain on the forefront of technical, cultural, and economic change. I decided to turn the insights into an infographic which can be downloaded here:
--> CEO Outlook and Insights for PMs
You can read the full KPMG CEO Outlook report here: https://home.kpmg/content/dam/kpmg/us/pdf/2019/06/2019-ceo-outlook.pdf
Summary of the Key Findings: https://home.kpmg/us/en/home/campaigns/2019/05/key-findings.html
Key Finding: CEOs reported a positive outlook and tempered optimism. A majority of U.S. CEOs (81 percent) plan to pursue inorganic growth, favoring strategic alliances and M&A.
Actions you can take based on this finding:
- Build out networking skills
- Build competency in organizational change management
- Cross-train on Business Analysis skills
Key Finding: CEOs have more realistic expectations of AI implementation and are becoming more enthused about AI-driven decisions.
Actions you can take:
- Become more versed in AI terminology, its applications, and AI’s limitations and risks
- Identify and network with AI vendors for business partnerships and knowledge sharing
Key Finding: Agility is a critical capability and requires innovation maturity. Sixty-three percent (63%) expressed the need to improve innovation processes and execution in the next three years.
Actions you can take:
- Research and become more informed on innovation models
- Become an “expert” at your organization’s innovation process
- Help executives understand the cultural changes needed for agility success
Key Finding: Investment in tech is prioritized over people. When asked to make a point-blank choice between investing in technology or people, more than two-thirds of CEOs chose technology.
Actions you can take:
- Leverage the fact that capital budgets for technology may be easier to secure sign-off than for new job openings
- Help executives understand risks inherent in trade-off between people vs. technology
- Position yourself to manage technology change
Key Finding: Companies are actively disrupting their sectors. Seventy-six percent (76%) noted that their growth relies on their ability to challenge and disrupt any business norm.
Actions you can take:
- Look outside your industry for trends that can help catapult your organization into a new growth area
- Help team members become more customer-centric to identity unmet customer needs or opportunities
Key Finding: Cyber security risk is slowly being seen as a top organizational risk. CEOs no longer look at cyber risk as a separate IT topic and are embedding cyber in all technology-fueled growth decisions. Only a minority (16 percent) point to cyber security risk itself as their organization’s top threat.
Actions you can take:
- If your organization has a CISO (chief information security officer), become educated on his/her needs as well as the vision and strategy that they are laying down at your organization
- Become more versed in cyber security risks and how they relate to you and your team's work
Key Finding: Organization want to align policies to reflect the values of their customers. Seventy-seven percent (77%) of U.S. CEOs believe that they could significantly improve their understanding of their customers. Eight-one percent (81%) feel it is their personal responsibility to ensure that their organization’s Environmental, Social and Governance (ESG) policies reflect the values of their customers.
Actions you can take:
- Advocate funding and opportunities for your teams to engage with customers to better understand their values and needs
- Help your teams become more customer-centric
Again, a copy of the infographic can be downloaded here: CEO Outlook and Insights for PMs
