Most executives we know have a powerful, intuitive feel for the rhythm of their businesses. They know how hard and fast to pull strategic levers, move their organization, and drive execution to achieve their objectives. Or at least they did. Digitization has intensified the rhythm of competition in many industries, leaving executives adrift, with information-gathering systems that are too slow or disconnected, direction-setting approaches that are too timid, and talent-management norms that are misaligned and incremental.
These leaders know their companies must adjust and accelerate. Digital is putting pressure on profit pools as it transfers an increasing share of value to consumers. Furthermore, those profit pools are bleeding across traditional industry lines as advanced technologies enable companies to forge into adjacencies, changing who in the value chain is making money, what share of the pie they capture, and how. The slow and inefficient are left behind, competing for scraps.
What is unclear to these executives, however, is how much and how fast to adapt their business rhythms. The exhortation to “change at the speed of digital” generates more anxiety than answers. We have recently completed some research that provides clear guidance: digital leaders appear to keep up a drumbeat in their businesses that can be four times faster, and twice as powerful, as those of their peers.
In earlier studies, we identified 11 strategic and operational practices that are tightly correlated with the successful execution of digital efforts. More recently, we asked more than 1,500 executives how frequently their companies carry out these 11 practices. The responses of the best-performing companies—those in the top decile for organic revenue growth—suggest that the accelerated repetition of certain critical practices is closely associated with adaptive cultures that are comfortable with change, learning all the time, and swiftly responsive.
> Read the full article on the McKinsey website
By Jacques Bughin, Tanguy Catlin, and Laura LaBerge
Source: McKinsey
We have come a long way in the last decade – nearly 1.1 billion people had no access to electricity in 2014; by end of 2023, this number reduced by about 350 million people. The share of renewables in the final energy mix has gone up substantially, with total energy consumption up by about eight percent.
Every year, Earth Day reminds us of our responsibility to nurture the planet that nourishes us. This year, let’s turn our focus to the very foundation of our lives – food. From farm to fork, the food industry has a significant impact on the environment. This collection of articles explores innovative, tech-driven, and practical solutions for building a more sustainable food system.
Research found compostable plastic packaging and products broke down successfully across five composting methods used in the facilities, achieving 98% disintegration on average by surface area, which exceeds industry thresholds to achieve a 90% or higher disintegration.
