A Business Roundtable poll of 142 CEOs shows Trump’s election has indeed boosted their confidence levels, with the peer group’s fourth-quarter economic outlook index rising to 74.2 points, up from 69.6 in the third quarter. The index, though, remains below its historical average of 79.6.
And while CEO expectations for sales and hiring have both increased since last month’s election result, their expectations for capital spending have fallen.
“America’s business leaders are encouraged by president-elect Trump’s pledge to boost economic growth,” said Business Roundtable Chairman Doug Oberhelman, CEO of Caterpillar, who will step down at the end of the year.
“We will work with the incoming administration and Congress to enact pro-growth policies such as modernizing the U.S. tax system, adopting a smarter approach to regulation, investing in infrastructure and focusing on the education and training people need to thrive in the 21st century economy.”
Some CEOs aren’t sure if Trump will follow through on all of his campaign pledges. On healthcare, for example, the president-elect said he may keep some parts of the Affordable Care Act rather than scrapping it entirely. Business leaders including Berkshire Hathaway CEO Warren Buffett have also questioned whether Trump will impose a 45% tariff in Chinese imports, given the potentially inflationary impact on the economy.
It’s still unclear how Trump will fund promised infrastructure spending, particularly if government tax receipts fall, and he has indicated some parts of his proposed wall along the Mexican border could instead comprise fencing.
Of all the challenges ahead for the new administration, providing more details on how it will lighten regulation could be the best way for it to boost business confidence. For the fifth year in a row, Business Roundtable found that regulation was selected by CEOs as their top cost pressure, followed by labor and healthcare costs.
“We are encouraged by the promise of a renewed focus to usher in a smarter regulatory environment that promotes job creation and economic growth and also protects safety, health and the environment,” Oberhelman said.
The survey results chime with Chief Executive’s most recent CEO Confidence Index, which jumped by 10.8% to 6.54 mark out of 10 immediately after Trump’s victory.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
