NASSAU, BAHAMAS — To meet the challenges that lie ahead, top business executives will need to accelerate digital transformation and workforce upskilling while sharpening productivity, according to a senior accountant.
Prince Rahming, territory leader, PricewaterhouseCoopers (PwC) Bahamas, noted in PwC’s 24th Annual Global CEO Survey: “To take on tomorrow, CEOs will need to accelerate digital transformation and workforce upskilling as businesses look to drive innovation, sharpen productivity and ensure the right outcomes for customers.
“The organizations that rise to these challenges will emerge stronger, more resilient and able to steer successfully through this period of momentous change. When aligned to the focus on ESG (environmental, social and governance), this uplift in capabilities can also provide the foundations for building back better and delivering for stakeholders in the years to come.”
PwC’s 24th Annual Global CEO Survey polled 5,050 CEOs in 100 countries and territories over January and February 2021.
The percentage of CEOs expressing confidence in growth is up from 22 percent in 2020 and 42 percent in 2019, representing the highest level of optimism since the survey started asking this question in 2012.
Rahming said: “After the tragedy and turmoil of the past year, the shift in sentiment is encouraging. CEOs are confident that growth will return, boosted by successful vaccine programmes in many parts of the world.
“We’re pleased to have had Caribbean CEOs provide their insights for the first time this year.”
He added: “Although the outlook is positive, there are still significant challenges ahead in a world that has changed fundamentally. People expect more from businesses. This includes the heightened focus on sustainability, social inclusion and other environmental, social and governance issues. It’s vital that businesses meet these expectations if they are to build and sustain consumer trust.”
According to the global accounting firm, 76 percent of business leaders predict that economic growth will improve in 2021. The number is slightly lower for Caribbean-region CEOs, with 69 percent saying they believe global economic growth will improve.
Accountants are important for the business world. Accountants help to keep the financial aspect of businesses on point. There are a multitude of financial angles in which accountants work to maintain the progression of business. They make it easier for the business owners to focus on the more pertinent areas of their business.