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25 January 2024 / Quick Take
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Copy LinkThe CEO is feeling less prepared for recession, inflation, and supply chain disruption than the CMO, but concerns are high amongst all C-Suite executives about events that are beyond their control, such as terrorism and nuclear war. This is an opportunity for CMOs to create compelling marketing actions to alleviate the economic pressures on the business and satisfy the CEO. On the flip side, CMOs believe they are “very well prepared” for crises for which they have prior experience. Cybersecurity is one of the largest areas of concern in terms of “bad actors” impacting the business, but two out of three CMOs believe they are well prepared to handle attacks.
C-Suite executives are generally more confident than CEOs about their organizations’ preparedness to handle a major crisis. In this year’s survey, C-Suite executives expressed more confidence than CEOs in addressing 13 of the 15 crises listed. The widest gaps are in cybersecurity: 66% of CMOs say their organizations are well or very well prepared compared to 43% of CEOs; for a pandemic or global health crisis, the gap is 64% CMOs vs. 48% CEOs, and for recession 45% CMOs vs. 27% CEOs.
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