C-suite barometer: six months on, have C-suite priorities shifted?

The top 3 priorities remain steady

1.  Transforming company IT/Technology (up 7 points to 40%).
2.  A new or revised sustainability strategy (down 1 point to 29%).
3. Reviewing supply chains, operations and processes (steady at 28%).

If anything, the focus on tech transformation has increased. Compared to their global counterparts at 32%, C-suite leaders know they need to be ready for new technologies, so they can take advantage of the benefits and opportunities. Leveraging emerging technology will also play a key role in ensuring they have robust and resilient operations in place.

What are the top three supply chain risks?

Our survey reveals that the top three risks identified within the supply chain are cyber security (35%), third-party risk (30%) and regulatory compliance (28%).

UK C-suites are satisfied but not delighted with their supply chain performance on supply chain. The most common rating for “tracking supply chain risk” and “keeping the board informed” is “good”, with only one-third rating their business as “very good”.

So how can businesses elevate their performance rating from good to great?

 The top perceived risk is cyber security, yet 40% of UK C-suites acknowledge their data is not fully protected. To address this, they should adopt incident disaster response and recovery testing, currently implemented by only 31%.

Additionally, more than half of UK businesses do not have all suppliers on a regular risk assessment program. One-quarter of businesses only assess supplier risk at the beginning of a relationship – or not at all.

There is clear room for improvement. Moving performance ratings from good to great in these areas will require businesses to build more resilient supply chains capable of withstanding disruptions and ensuring business continuity.

If you would like to discuss any of the findings of this year’s C-suite barometer please get in touch.

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