A significant number of Pakistani Chief Executive Officers (CEOs) of companies believe their current business model will become economically unviable less than 10 years.
As per the PwC’s 27th Annual Global CEO Survey – Pakistan, 42% of CEOs surveyed believed their company will not be economically viable a decade from now if it continues the existing business model.
Meanwhile, 56% of these CEOs believed their business model would remain viable for more than 10 years.
A business model is a framework or plan that outlines how a company creates, delivers, and captures value. It encompasses the fundamental aspects of how a business operates, generates revenue, and sustains its operations.
CEOs spell out major threats to businesses
“Extent to which certain factors have driven, and are expected in future to drive, changes in their business models including the potential barriers to such changes,” read the report.
The report found similar concerns about the economic viability of the current business model have been raised by 45% of CEOs globally. “Yet, this sentiment is not uniformly shared across South Asian and Southeast Asian territories,” the survey said.
Regionally speaking, 38% of CEOs in India believe that their business models would not be economically viable in a decade.
Managing volatility is crucial for businesses to maintain stability, adaptability, and resilience in a dynamic market environment. This often requires strategic planning, risk management strategies, and flexibility in operations and business models.
Meanwhile, as per the survey, 77% of CEOs identified government regulation as the primary factor that has driven changes in the way their companies created, delivered and captured value over the past five years.
“This was followed by technological changes (43%) and changes in customer preferences (41%),” found the report.