“You have to have free markets with government to restrain them and proper regulation where entrepreneurship is not hindered…” - John Schnatter
Governments frequently update and change industry regulations, which is a major headache for CEOs who want to innovate but also need to ensure compliance with the laws and regulations of different countries. In addition to being concerned about the potential fines they may face if they fail to comply with these regulations, CEOs are also aware that changes in government regulation could have a massive impact on their company’s revenue and could even bankrupt their business .
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Building employee relationships based on trust
“Our success is a team effort. I can only fulfill my role as namibia phone number data chairman and CEO if I am fully sympathetic and understand what everyone else is doing.” – Frederick Waddell
CEOs know that for their companies to be innovative, trust with their employees is critical. By engaging with all of them, giving them the freedom they need to work optimally, and encouraging their accountability through goals and skill development, CEOs can build the trust needed for employees to innovate. If you truly believe in innovation, establishing this trust is now more important than ever, as 63% of employees feel they can no longer trust their CEOs .
Improving cybersecurity
“I am convinced that there are only two types of companies: those that have been hacked and those that will be.” - Robert S. Muelle
More and more companies are embarking on their digital transformation, and CEOs are aware that innovation comes with costs. With the increasing reliance on online systems and digital tools, one of the main risks today is the security of a company’s data. This, coupled with the increasing rise in cyberattacks, places an extra burden on CEOs as they worry about cybersecurity and how they can avoid becoming the next LinkedIn, Sony or Chipotle.