Digital transformation and ESG strategies are key to value creation
Many Greek CEOs recognize the need to invest now to ensure future opportunities. With the pandemic accelerating the prevalence of the digital world, leading executives cite investments in digital transformation and existing businesses to accelerate organic growth and value creation, as key priorities.
Greek executives anticipate that effective data usage to develop new products and services will constitute the key source of company growth over the next five years. Additionally, with the rapid advances observed in technology (AI, automation, IoT, etc.), Greek CEOs see technology and automation as strategic drivers to improving profit margins. Automation, in particular, offers tremendous potential for CEOs looking to drive transformation in their organization and pivot employees to higher-value activities.
Investments in sustainability are also on the radar, a nod to the relative importance a majority of Greek CEOs are placing on ESG as a value driver over the next few years. They see their sustainability strategy as both a key competitive advantage and an enabler for other companies and customers to transform. However, while 75% of Greek executives say that their investors are extremely supportive of well-articulated investments, 65% say they have encountered resistance regarding their sustainability transition strategy, citing costs and potential longer-term returns, as key concerns for investors.
Greek CEOs take a conservative approach to M&A
Rapid and simultaneous changes across business and geopolitical landscapes have Greek CEOs taking a more conservative stance when it comes to dealmaking, with only 41% (versus 59% of global CEOs) saying they will actively pursue M&A in the next 12 months. Instead, Greek executives seem content reshaping their portfolios through organic investment — if they make any changes to their portfolios at all.