Welcome to our inaugural report on strategic priorities in Ireland. It follows our survey across the island of Ireland, enterprises large and small, private sector and semi-state, in June 2020.
The impact of COVID-19 comes through strongly for many respondents. However, our report also highlights attitudes on longer term constraints, disruptions and opportunities.
Some key findings include:
- Recovery: 31% of respondents are focused on revenue recovery and growth, compared with 11% focusing on survival and/or cost measures.
- Growth plan: Over 20% see the path to revenue recovery requiring either new product line launches or foreign market entry.
- Disruption: A majority have perceived either little change or consolidation in their competitive landscape in recent years, yet the outlook for the next 5 years splits, with sectors like manufacturing and food & agri on the whole predicting further consolidation, while banking, tech & media among those sectors predicting more disruptive new entrants.
- Long-term thinking: In total 60% of respondents see the connected themes of changing customer preferences, digitisation and automation as key disruptors. 13% see decarbonisation as a long-term opportunity or constraint.
- Self-assessment: Respondents are generally confident in setting a strategic ambition, but see room for improvement in how they go to market – including identifying and prioritising profitable customers – and how their operating model can align to that market strategy.