Leaders face many challenges and opportunities in today’s rapidly evolving business landscape. From navigating technological disruptions to addressing pressing environmental, social and governance (ESG) issues, the role of leadership has never been more critical. |
The inaugural meeting of The PwC Leadership Exchange brought together leaders from various industries to explore two key themes: ESG practices and business transformation. This article explores the key takeaways from the event and their implications for business leaders. ESG: a progressive strategy for long-term successIn the morning session, PwC’s ESG Leader David McGee was joined by industry experts — Tirlán’s Dr Lisa Koep, AIB’s Mary Whitelaw and PwC’s Fiona Gaskin — to explore the crucial role of ESG principles in driving long-term success. In today’s highly unpredictable global market, the panel stressed that recommitting to the fundamental principles of trust, integrity, accountability and value creation is not a step backwards but a forward-thinking strategy that enables organisations to build resilience and thrive. To effectively integrate ESG principles, the panel urged business leaders to foster a culture that prioritises long-term benefits over short-term gains. This includes encouraging innovation that considers environmental and social impacts, promotes employee wellbeing and consistently upholds ethical standards. By reaffirming these principles, businesses can strengthen their resilience, engage their workforce and earn the trust of their stakeholders and communities. Business transformation: embracing technology and change managementIn the afternoon session, PwC’s Business Transformation Leader Amy Ball was joined by Century TECH’s Priya Lakhani OBE, Microsoft’s Fiona Carney and PwC’s David Lee to explore the evolving nature of business transformation. With rapid technological advancements, particularly in GenAI, the panel noted that C-suite executives increasingly recognise the need for swift adaptation to achieve sustained success. However, successful business transformation goes beyond technological change. The panel argued that governance and change management are central to a comprehensive approach. Organisations must establish guiding principles and best practices for technology’s responsible and ethical use, including measures to combat misinformation, ensure cybersecurity, establish clear accountability and report on progress. Successful technology implementation also relies on addressing the human and procedural aspects of business transformation. The panel noted that change management and corporate culture must align with organisational values and goals, and the right people with the necessary skills should be in place to ensure effective technology use and long-term return on investment.
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Poll: business leaders are adapting to the changing landscape
During the event, attendees were asked for their view on a range of subjects from revenue and risk to transformation, ESG and technology.
Most attendees (95%) expressed optimism regarding their organisation’s revenue growth in the next 12 months. This positive outlook is reflected in our latest CEO Survey, demonstrating organisations’ ability to adapt and thrive in a constantly changing business environment.
Despite this optimism, geopolitical risks pose the most pressing risk for organisations in the coming year — but some issues are beyond our collective control. What leaders can do, however, is focus on the resilience of their organisations and people, and ensure that they can weather storms as they arise.
In terms of business model disruption, almost three-quarters of attendees’ organisations are impacted to a large or very large degree. Throughout the day, speakers touched on the need to evolve and it’s clear that the ability to adapt to change is now essential.
Most attendees also recognise ESG initiatives as a powerful source of competitive advantage. Integrating ESG criteria into strategic frameworks is important to meet evolving societal expectations and enhance your organisation’s long-term sustainability.
And finally, AI and GenAI hold great promise. Most attendees believe that these technologies can expedite organisational transformation. But as we harness their potential, we must ensure responsible deployment and human-centric outcomes.
The role of leadership in driving change
Throughout the event, the critical role of leadership in driving change and shaping the future of businesses was a recurring theme. Leaders must not only focus on short-term objectives but also develop and execute strategies that ensure the long-term success of their organisations and communities.
Adapting to change is not enough; leaders must actively shape it. By driving innovation, building resilient businesses and positively impacting society, business leaders have the opportunity to create a lasting legacy.
Conclusion
The PwC Leadership Exchange event underscored the importance of ESG principles and business transformation in today’s fast-paced business environment. Organisations can achieve sustainable, long-term success by integrating ESG practices and adopting technology responsibly.
Business leaders must consider how to incorporate these insights into their organisation. This is an opportunity to drive positive change, foster a culture of responsibility and resilience, and shape a future that benefits their business and the wider community.
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