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Matt Banholzer, Rebecca Doherty, Alex Morris and Scott Schwaitzberg
Innovative growers
A view from the top
McKinsey Quarterly, 2023
What's inside?
Ambitious companies that deliberately pursue both growth and innovation enjoy greater profits and shareholder returns.
Recommendation
For most companies, the current business environment is one of constant disruption and chronic unpredictability. One thing does appear certain, however: According to research from McKinsey & Company, companies that embrace both innovation and growth – “innovative growers” – outperform their industry peers and provide better returns for their shareholders. Innovative growers accomplish these feats by setting their aspirations high, promoting a company culture that emphasizes and creates the capacity for innovation, and opening pathways for growth via strategic mergers and acquisitions.
Summary
About the Authors
Matt Banholzer is a partner in McKinsey’s Chicago office; Rebecca Doherty is a partner in the Bay Area office; Alex Morris is a partner in the Toronto office; and Scott Schwaitzberg is an associate partner in the New York office.
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