UAE CEOs predict three year span for business transformation; KPMG

The KPMG 2016 CEO Outlook survey found that 65% of UAE CEOs think a stronger client focus is a strategic priority in 2017

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UAE CEOs predict three year span for business transformation; KPMG The results showed that 76% of UAE CEOs, compared to 41% of global CEOs, believe that their business will change significantly over the next three years
By  Aasha Bodhani Published  December 5, 2016

KPMG 2016 CEO Outlook survey discovered that the majority of CEOs in the region are confident about business progression over the next three years.

The results showed that 76% of UAE CEOs, compared to 41% of global CEOs, believe that their business will change significantly over the next three years, largely due to new products and client focus.  

The survey also revealed that UAE CEOs stated that regulatory, talent and reputation were the three key areas they intend to focus on over the next three years. Furthermore, they said that there is likely to be a significant skill gap for workers in the short term within cyber security, digital, innovation and data and analytics.

Though financial incentives were seen as the most effective way of attracting and retaining staff, non-financial methods of securing talent, such as a collaborative environment and new career paths were also found to be effective in the long run.  

Vijay Malhotra, the CEO of KPMG in the UAE and Oman, commented: "Change is a constant theme in the UAE. Following the recent announcement that the UAE Innovation Week will run for a month beginning 2018, it is encouraging to note that the findings of our UAE CEO Outlook mirror the UAE Government's vision for the next three years - with a focus on disruption, innovation and digitisation.

"While some of the UAE findings reinforce global trends and leading practices, we find UAE CEOs are generally more optimistic about the next three years than their global counterparts. This is indicative of the UAE's shift towards a knowledge-based economy that aims to foster growth and development across non-oil sectors."

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