Resetting strategic priorities
Technology transformation remains the ultimate priority for C-suite executives, but it’s only part of the strategy.
As businesses strive for growth, they must pair innovation with adjustable plans to pursue international expansion, tackle intensifying competition overcome mounting tariff pressures and manage costs.
Globally:
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Transformation through technology remains the dominant priority of C-suite executives. |
Adapting to competition & tariffs appears for the first time at the top of C-suite agendas. |
International expansion remains a top three priority for the third year. |
Transformation through technology was also the top strategic priority for leaders in Australia, with data security and revenue growth shaping transformation plans alongside artificial intelligence.
The outlook in Australia
C-suite executives in Australia have a positive growth outlook for the year ahead, despite ongoing economic uncertainty and political instability.
Leaders here are feeling the impact of global trade and increased tariffs, but are confident in their ability to mitigate them. They are tackling them in various ways:
- Adapting business models and strategies due to competition and tariffs is among the top three strategic priorities
- 58% are diversifying their resources
- 46% of leaders have plans to enter new markets
- 38% are developing new offerings for new markets
As we see elsewhere, the major opportunity in front of Australia firms is the AI revolution. Uptake is high across a broad range of business functions, most notably creative outputs and cybersecurity. Leaders’ key rationale for investment is streamlining their operations.