The 2020 CEO Outlook finds that the COVID-19 pandemic has shaken CEOs’ confidence. Likewise, CEOs in Singapore are now much less confident in the growth prospects for their companies, industry sectors, and the global economy than they were at the beginning of the year. However, Singapore business leaders are more confident (52 per cent vs global 45 per cent) in the resilience of Singapore’s growth prospects over the coming three years.
Weaknesses in supply chains were exposed when restrictions in the movement of goods and people were imposed. Supply chain risk is seen by CEOs in Singapore as the greatest threat to their companies’ growth over the next three years.
The return to territorialism ranks second in the list of threats to companies’ growth, given the risk that the pandemic could potentially accentuate nationalistic tendencies. Surprisingly, CEOs in Singapore ranked talent risk as third, compared to the global study which lists it as the greatest threat.