Increasing competition set to impact businesses: Forvis Mazars C-suite barometer 2025

The firm's 2025 study found the majority (93%) of C-suite executives worldwide have a positive growth outlook for their organisations, but there are still challenges ahead. Results show a significant increase in competition and geopolitical instability worldwide, as the highest rising trends impacting organisations and most likely to hold back growth.

• 93% of C-suite leaders worldwide have a positive growth outlook for their organisations – consistent with 2024 (94%) and up from 86% in 2023. 
• Increased competition and heightened geopolitical instability are now the two highest rising trends holding back growth for executives – 35% (up 13 points) and 30% (up eight points from 2024), respectively. 
• Leaders expect economic uncertainty (39%) and increased competition (33%) to have the biggest impact on their organisations. 
• More than four in five businesses (83%) plan to expand to at least one new country in the next five years, with over 40% targeting three or more new countries.​ 
• Just under half (43%) of organisations continue to report a struggle to recruit talented people. 

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The report captures the views of over 1,700 C-suite executives across more than 35 countries and territories. While leaders remain focused on tackling trends expected to impact their business – economic trends (39%), increased competition (33%) and emerging tech (31%) – 43% still view IT and technology as the key to transformation and growth, placing it at the top of their strategic priorities. Leaders also remain committed to international expansion plans and new or revised talent and retention strategies, which will play a major role in redefining organisations, creating opportunities to unlock growth and compete for market share. 

Partner and Chief Clients & Markets Officer, Mark Kennedy said: “It’s encouraging to see the positive growth outlook C-suite executives still have. This is built on the successes achieved in quite a volatile environment over the past two years and shows the resilience that many leaders and their businesses have established over time – a key strength as they build for what’s next amid increasing competition and geopolitical instability. The overarching challenge of 2025 will be maintaining strategic priorities and a clear vision amid new market entrants, continuing technological disruption and potential market turbulence if they are to lead their businesses to success and cut through increasing competition.”

Digital agility and data-powered transformation 

Transformation of IT and technology still dominates as the top strategic priority of business leaders, with nearly half (43%) confirming this at the top of their agenda – up a massive 11 points in just 12 months.​ A majority (85%) also feel confident in the potential return this investment will deliver.​  

The big rush to jump on the latest tech trends seems to have shifted. When it comes to investing in artificial intelligence, C-suite executives are clearly committed – 87% are clear that Gen AI will have an impact and 91% already have a strategy for implementing it.​ What’s most interesting is the shift in deployment of AI from more organisations now optimising internal processes rather than externally facing commercial products/services. ​ 

Investment in international expansion 

C-suite executives have high ambitions for international expansion. It is a top strategic priority for a quarter of leaders around the world and a strong majority (83%) already have plans in place to begin operating in one or more new countries in the next five years. ​ 

The US, Germany, UK, China and Canada have emerged as the top countries targeted for expansion, and the study has found the most leaders with international expansion plans are based in the Middle East and Latin America.  

For these C-suite executives that seek to expand internationally, understanding local regulations and requirements is cited as the top challenge for leaders in every region, followed by securing a local workforce and diversifying products/services to suit new markets.​ 

Upskilling and upscaling talent to tackle scarcity 

People continue to shape priorities and are the clear capital for organisations to compete and grow. New or revised Talent attraction and retention strategies are a top three strategic priority for a quarter of leaders, and just under half (43%) of organisations say they struggle to recruit talented people.​ 

Executives are reporting widespread difficulty in attracting and hiring the right talent and the main challenge now is in recruiting entry and mid-level talent, compared to the gaps in senior talent revealed in 2024. ​ 

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About the study    

The C-suite barometer: outlook 2025 examines the views, challenges, and strategic priorities of today’s C-suite leaders around the world. This independent research was conducted between 28 September and 23 October 2024 and captures the views of 1,706 C-suite leaders at for-profit organisations with annual revenues of over $1million across more than 35 countries.  

Press contacts 

Heather McMaster, Group Head of PR and Content 
Heather.McMaster@mazars.co.uk  / +44 (0) 20 7063 4165   

Rosa Mejia Banks, Group PR and Content Officer 
Rosa.Mejia-Banks@mazars.co.uk / +44 (0) 20 7063 4934