Shifting risk landscape
CEOs in India have consistently cited climate change, digital disruption, operational risk, volatile geopolitical scenarios and cyber-security as the primary threats impeding organisational growth. While digital disruption continues to be a major threat for companies, supply chain risk, which was not a predominant concern prior to the pandemic, has emerged as a critical threat
Reinvention of Supply Chains
The pandemic has exposed the vulnerability of global supply chains for companies’ worldwide. In India, the outbreak has severely impacted companies that relied heavily on global channels for procurements, thus driving business leaders to focus on sourcing locally.
While CEOs in India re-evaluate their supply chains, their primary focus would be on gaining agility to become more customer centric and mitigating supply-chain risk exposure.
Adapting to new work realities
With the onset of the COVID-19 crisis, organisations were compelled to rapidly implement large-scale work-from-home arrangements, while ensuring productivity. Consequently, CEOs in India are enhancing their digital infrastructure to facilitate a remote working model, while creating work environments that foster trust and empathy. As new work realities emerge, CEOs are looking to forge stronger relationships with employees and engage with a diverse workforce.
Enhancing ESG programs
In the midst of the pandemic, CEOs in India, have continued to enhance their ESG programmes, as they foresee these initiatives gaining more prominence in the post-pandemic world.
Globally, investors are increasingly focusing on companies with robust ESG performance, which partly explains the importance placed on the ESG component by Indian business leaders. This is reflected in the fact that about 39 per cent of CEOs in India believe managing climate-related risks is key to their own job security.
Looking ahead, implementing a holistic roadmap that factors in changing dynamics, such as increasing digitisation, creating resilient and flexible supply chains, preparing for new work realities and intensifying focus on ESG, will be critical for business leaders to adapt to the ‘new’ normal.