Semiconductors are everywhere these days. From cars to refrigerators to the ID tag on Rover’s dog collar, these smart chips are now basic staples in today’s Internet of Things world.
Well, semiconductors are supposed to be everywhere. But an unprecedented collision of macro risks—supply chain disruptions, inflation, the Russia-Ukraine war, China-Taiwan tensions—has created a challenging environment for chip suppliers, along with some headline-grabbing news about critical shortages of this vital, “the-world-runs-on-it” commodity.
To get an updated snapshot of the industry, we recently surveyed 28 C-level executives from the world’s largest semiconductor companies for the latest KPMG Semiconductor industry pulse report, a follow-up to our earlier 2022 industry outlook. Amid all of 2022’s changes, just how much has changed for the chip industry?
Despite the significant headwinds, our latest survey found industry leaders relatively optimistic, all challenges considered. Yes, there are significant concerns, and few expect the ongoing uncertainties to just suddenly melt away, especially in the current economic climate. But, for the most part, they remain confident about growth prospects in the next two year.
Leading with trust
Trust engenders stability, but in an era of increasing distrust, strong and resolute leadership is essential.
Navigating uncertainty by leading the way
Uncertainty no longer feels like a short-term challenge, but an ongoing reality to plan for—and perhaps even leverage to expedite new opportunities, such as digital transformation.
Teaming for success
The large majority (86 percent) of the female leaders in our survey emphasized the importance of collaborative decision-making with teams to further build trust while also expanding the range of valuable insights.
Enhancing the future of work
An employee-first culture means providing essentials like workplace flexibility, opportunities for growth, mental health support, and more.
Moving forward with confidence and clarity
Times of crisis are also opportunities for leaders to step up, instill confidence, and establish a larger spirit of resiliency for the entire organization.