As companies adapt to sustained disruption, most are running the same playbook—raising the stakes on execution and decision-making
After a year of rapid policy shifts, economic uncertainty, and operational disruption, US executives seem to have found their footing. But data from PwC’s new survey, Executive views on policy, risk, and growth, shows that while confidence is rising, competitive advantage remains harder to achieve.
In PwC’s May 2025 survey, conducted following the first 100 days of the second Trump administration, 57% of executives said they were missing opportunities because they couldn’t make decisions fast enough. According to our latest survey, 67% say they are ahead of competitors when it comes to speed of decision-making and execution, and 90% say their company is in a stronger position than two years ago.
But when so many leaders believe they’re ahead, the next question becomes: ahead of whom?
Adaptation is now table stakes
Companies have moved quickly to reposition. Since early 2025, executives on average report taking nearly four strategic actions with most (73%) picking one or more of the same top three—including increasing AI investment (38%), strengthening risk management (36%), and adjusting trade strategy (35%).
These moves are delivering results, with more than six in ten reporting faster innovation and improved agility. But they are also nearly universal.
“When every company is making the same moves—investing in AI, strengthening risk management, and adjusting trade strategy—those actions stop differentiating and become the cost of competing,” said Michelle Horton, Principal and America in motion Leader, PwC US. “Too many organizations are mistaking table stakes for advantage. The question isn’t whether you’re acting—it’s whether you’re executing better and differently enough to pull ahead.”
No single risk dominates—pressure from every direction
The operating environment remains complex. Nine out of ten executives cite at least one of the following as a moderate or serious risk: cyber threats, macroeconomic uncertainty, geopolitical uncertainty, or regulatory complexity.
Many companies expect volatility to be a permanent feature of the landscape—embedding it into strategy, operations, and investment decisions.
That shift is also showing up in long-term planning: 87% of executives expect US fiscal pressures to push business taxes higher—and are already planning for it.
Still playing defense when it matters most
Despite their confidence and the flurry of action they’ve taken, when a major external disruption actually hits, the C-suite's instinct is still overwhelmingly defensive.
When asked to pick their top three responses to external disruptions, 98% of executives selected at least one defensive move, such as preserving cash or safeguarding operations, while 76% selected at least one offensive move, like accelerating innovation or pursuing new market opportunities.
That distinction matters.
“Owning your next move means deciding where to play offense while others are still playing defense,” said Horton. “Advantage comes from knowing when to absorb pressure and when to create it.”
The intelligence gap
One reason many organizations remain defensive is a gap between confidence and clarity.
While 87% of executives see disruption as an opportunity, 68% say they struggle to translate uncertainty into business decisions, and 65% lack the data needed to assess geopolitical risks and opportunities.
At the same time, AI is becoming central to decision-making—but its value is still emerging, with 81% of executives saying they’re at least a year away from seeing meaningful returns beyond efficiency.
The result: Leaders feel more capable, but many still lack the intelligence needed to act decisively.
Growth opportunities but with real constraints
Executives see real opportunities ahead, with technology emerging as a key driver. Sixty percent say the speed of technology adoption is enabling growth, and 55% point to access to new markets.
But expansion isn’t without headwinds. Twenty-eight percent say regulation is limiting their company’s growth plans over the next one to two years. Workforce availability and skills along with energy availability, reliability, and cost are also constraints (22% and 20%, respectively).
Execution is the differentiator
In an environment where companies face the same risks and are pursuing similar strategies, differentiation is shifting from what companies do to how well they do it.
Organizations that pull ahead are more likely to:
Embed real-time geopolitical intelligence into decisions to act before volatility forces their hand
Invest through disruption by pressing forward while others wait for clarity
Close the gap between insight and action by connecting external signals and disparate data across tax, trade, supply chain, and finance to move decisively
Align leadership and capital around clear priorities, translating strategy into measurable results
From footing to forward momentum
The past year has shown that executives can adapt to sustained disruption. The next phase determines who can turn that capability into advantage.
Confidence is up. Capabilities are improving. But in an environment where everyone is moving, standing out requires more than keeping pace.
Execution matters. It’s what separates those who keep pace from those who pull ahead.
About the survey
Between March 12 and March 20, 2026, PwC surveyed 633 US executives, including CEOs, CFOs and finance leaders, COOs and operations leaders, CIOs, CTOs and technology leaders, risk leaders, including CROs, CAEs and CISOs, tax leaders, and corporate board members, on business conditions, policy shifts, geopolitical risk, and growth opportunities. Respondents included executives from consumer markets (20%), energy and industrials (27%), financial services (24%), health industries (9%), and technology, media, and telecommunications (18%). You can view all findings and insights by visiting: www.pwc.com/us/winthroughdisruption
About PwC
At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 364,000 people in 136 countries and 137 territories. Across audit and assurance, tax and legal, deals and consulting, we help clients build, accelerate, and sustain momentum. Find out more at www.pwc.com.
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