The production, sale, and service of equipment are the traditional business model of many hardware-oriented industries. Digital, however, promises to be a game changer for all segments, whether product, project, or process industries.
Machinery companies have started to innovate their business models. One-fourth of respondents to McKinsey’s Periscope Machinery and Industrial Automation survey reported that their companies have digitized their service, spare parts, and consumables business, and more than two-thirds are planning to do so.
A higher commitment to digital results in business success. The more digitally mature a company is, the better its performance is along two key indicators: TRS and revenue growth. Though most companies across industries have ventured into the digital space on some level, less than one in ten are highly mature, and these are the companies reaping digital’s largest benefits. Compared to the least mature, the most digitally mature companies see three-year TRS rates nearly three times larger and five-year CAGRs more than four times larger.
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By Jürgen Meffert, Mark Patel, and Rupert Stuetzle
Source: McKinsey
The modern hiring landscape is a paradox. On one hand, we have unprecedented access to tools that can automate outreach, parse thousands of resumes in seconds, and predict candidate success. On the other, candidates are feeling more disconnected and commoditized than ever before.
The CEO role tests any leader’s resilience. For women, the scrutiny can be sharper, the resistance more persistent, and the margin for error thinner. The chief executive job is often described as the loneliest in business; with women still underrepresented at the very top, the scarcity of peers can make isolation more pronounced.
Leaders can master skills and tools for setting a vision, executing plans, managing others, building human capability, and demonstrating personal proficiency, and yet still not have full impact because they are not intentionally showing up.
