Mahmoud Khattab is the chief executive officer (CEO) of Precision M.D. based in California. As a CEO in the medical field, Mr. Khattab has abundant knowledge and expertise about investments. The investor shares information about three common shifts CEOs currently use to ensure business growth.
According to Mahmoud Khattab, the response many CEOs took to deal with the COVID-19 pandemic resulted in the creation of emergency business operations. Most companies altered their operations to provide necessary supplies and services. For instance, clothing companies resorted to making masks and PPEs, chemical factories manufactured hand sanitizers, while transportation companies created new routes to deliver ventilators and other necessities.
One shift CEOs made was looking for new markets with potential growth opportunities. 60% of CEOs expected to match their revenue base with previous years by the end of 2021, while 32% anticipated resurgence in 2020. Only 10% believed they needed more time. Most CEOs were able to create revenue by looking for new markets provided by the pandemic.
The second shift was increased workforce priority and decreased cost management. The pandemic forced CEOs to focus on their workforce more than anything else. In fact, 24% of CEOs claimed that workforce issues were among their top three priorities. That’s because most CEOs know the importance of human resources in helping organizations achieve their goals. In relation, many CEOs dropped cost management out of their priority list. That’s because it was hugely used before the pandemic to preserve cash.
The other shift noted by Mr. Mahmoud Khattab is that more CEOs focused their investment on digital opportunities. Most companies invested in digital capabilities to offset the economic hardships caused by the pandemic. Even areas that previously enjoyed huge investments, such as information technology, product improvement, people and culture, received less attention from CEOs. READ HERE: https://www.marketwatch.com/press-release/mahmoud-khattab-precision-md-and-the-growth-of-small-businesses-in-the-united-states-2022-04-04