Four in five Romanian CEOs focus more on long-term profitability

Almost four out of five (79%) Romanian CEOs say that they focus more on long-term profitability rather than short-term gains while three-quarters (72%) of them state that the purpose of the companies they lead is to create value for all stakeholders, not just for shareholders, according to the latest edition of the Romania country report of the PwC Global CEO Survey. The stakeholders, as defined in the survey, include: clients, shareholders, competitors, the local community, the media, NGOs, Government organizations, and authorities. “Romanian CEOs, similar to their global counterparts, are beginning to focus on creating long-term value. Also, 88% of CEOs believe that having a successful business in the 21 century will mean more than just financial profits. Thus, the present economic system tends to reinstate business ethics at the heart of the organization,” says Ionut Simion, Country Managing Partner, PwC Romania. The majority of local CEOs believe that highly skilled employees prefer to work for organizations that share their values (54%), while 44% of the respondents think the key talents would rather look for employers that offer competitive remuneration packages. Moreover, 77% of CEOs anticipate that technological breakthroughs, as a global megatrend, will significantly transform the expectations the stakeholders have from organizations. At the same time, companies use a wider range of digital technologies as communication and networking tools and also as means to increase the level of stakeholder engagement. editor@romania-insider.com