Corporate Leadership Post-COVID-19: FIVE KEY TRENDS

While the pandemic has posed a humanitarian crisis worldwide, it has also posed a challenge to economies and businesses. The agility and resilience of corporate leaders have been tested, with several companies falling victim to the resulting economic downturn.

Many CEOs have been able to successfully pivot during this difficult time by revising their priorities and rethinking their business strategies. The lessons learnt from this period of uncertainty have caused a transformation in corporate leadership in the Middle East, with several key trends emerging.

Digitization

With billions of people shifting to remote working over the past year, digitization has become one of the most urgent needs for businesses. According to a report by PwC, 59% of Middle East CEOs aim to increase their digitization investments by 10% or more over the next three years, compared with only 11% who planned to do so in 2010. Also, 75% of family businesses—a huge driver of economies in the Middle East—have said that digital, technology, and innovation initiatives are going to be a key priority in the next two years.

The pandemic has pushed digitization strategies to also include social responsibility considerations. For example, Etisalat Digital partnered with American Hospital to launch telehealth services, and Abu Dhabi Airport deployed a robot to disinfect airport terminals, limiting contamination risks.