Only one in three business leaders ‘confident' in navigating ongoing uncertainty says study
business leaders
in Ireland is confident leading their organisation through a period of economic uncertainty in the aftermath of US import tariffs.
Knowledge of
artificial intelligence (AI)
and cyber security was also poor, according to research by the
Irish Management Institute (IMI)
, but leaders across industries were strong on diversity knowledge.
The IMI Leadership Barometer found that 8 per cent of leaders were 'not confident' in leading their company through the ongoing period of disruption while achieving their business objectives.
The survey of 459 senior leaders from public, private and semi-state companies examines the attitudes of key decision makers.
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Just 7 per cent of senior leadership figures reported having 'excellent' financial skills to unlock growth for their business. Nearly half of respondents admitted having gaps in their financial leadership abilities.
With AI coming to the fore in business, 44 per cent reported having very little knowledge of how to integrate the technology into their organisations. This knowledge gap was further demonstrated by over four in 10 responding that they had limited knowledge on their organisation's digital controls.
However, business leaders reported having strong awareness of how to strengthen diversity and inclusion in the workplace with 62 per cent reporting a high level of knowledge in the space.
IMI chief executive Shane O'Sullivan said organisations are facing 'unprecedented economic and geopolitical volatility' but that leaders were facing the situation with 'resilience and a measured degree of confidence'.
'Significant hurdles remain ahead', he said, noting the barometer's findings 'identify a number of weaknesses in current leadership capabilities'.
'Addressing these gaps will be crucial to ensuring leaders are equipped with the key capabilities to navigate the change ahead and drive the future growth and competitiveness of business in Ireland,' he said.
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