As leaders, we are all facing an accelerating cascade of disruptions.

We had barely recovered from the pandemic when Russia’s invasion of Ukraine plunged Europe back into war, further disrupting global supply chains in the process. At the same time, the emergence of generative AI is transforming whole industries and impacting virtually every aspect of your business. If all that was not enough to contend with, we now must deal with tariffs, trade wars, and the upending of the global rules-based order.

That is why the most urgent task for every company is what I call strategic reinvention.

According to PwC’s latest annual survey of CEOs, 42 percent say their companies will not make it another 10 years if they continue on their current path – and that was before the current trade war began. PwC found that 63 percent of CEOs have tried to change course, but most of those efforts are insufficient to meet the challenges those companies face.

“Will these moves be enough to power reinvention? For many CEOs, the honest answer will be no,” PwC concluded. “Barriers to reinvention include weak decision-making processes, low levels of resource reallocation from year to year, and a mismatch between the short expected tenure of many CEOs and powerful long-term forces, or megatrends, at work.”