The COVID-19 pandemic disrupted the business landscape, forcing CEOs like Mahmoud Khattab to change their business operations. Mahmoud Khattab is the CEO of Precision M.D., a cosmetic surgery center offering surgical and non-surgical treatment. The growth and success of Precision M.D. are attributed to his medical background and leadership skills. Mahmoud Khattab is also known for his philanthropic endeavors, notably supporting Syrian immigrants. As a renowned business leader, Mahmoud Khattab needs to adopt the ideas suggested by the 2021 Gartner CEO Survey. The CEO survey foresees business trends by analyzing the attitudes and priorities of business leaders, and in 2021, the survey predicted three shifts.
Identifying New Markets for Growth Opportunities
Even though the COVID-19 pandemic disrupted business operations, CEOs remain committed to ensuring growth, and 60% believe that the revenues will normalize. The 2021 Gartner CEO Survey is based on responses from 465 business leaders who understand the dynamics of the economy. Businesses should prioritize growth by exploring new markets rather than relying on incremental sales revenue growth.
The workforce remains a valuable asset for business, and the COVID-19 pandemic forced CEO to cut their operating costs by reducing the size of the workforce. According to the 2021 Gartner CEO Survey, 24% of CEO prioritize the workforce to help organizations meet their goals. However, CEOs did not focus on cost management, as has been the case since the onset of the pandemic. Even though CEOs do not prioritize cost management, it remains an important agenda for CFOs and COOs.
Investing in Digital Growth Ambitions
The 2021 Gartner CEO Survey shows that CEOs show an unparalleled commitment to digital investment, replacing information technology, product enhancement, and people and culture. Hybrid work models triggered by the pandemic resulted in a decline in property and facilities and capital equipment investment. The other business areas that experienced decline include hiring, marketing, and compliance and risk management.