It’s been five years since the Business Roundtable, an association of more than 200 CEOs of leading US companies, redefined the purpose of a corporation as delivering value to all stakeholders—“our companies, our communities, and our country.” While the perception of stakeholder capitalism has evolved since then, the roundtable’s focus on…

At first glance, the outlook for the global cement industry appears grim. Particularly in Europe, the industry has limited opportunities for growth, with flat or declining volumes and low valuation multiples. Companies are also having trouble attracting talent and facing significant costs to reach net-zero emissions. This is a challenging…

As one of the oldest industries, insurance has evolved significantly since its inception and grown to include new, niche offerings. Throughout Vince Tizzio’s long career in insurance, he has developed a deep understanding of the specialty insurance space and proved he can develop strong organizational cultures. As the president and…

Nearly one hundred years of McKinsey’s insights and knowledge serve as the source material for the firm’s AI platform, “Lilli.” In this episode of the At the Edge podcast, Erik Roth, a McKinsey senior partner and global leader of growth and innovation, joins senior partner Lareina Yee to discuss how Lilli was…

Global growth is expected to remain stable and slow into next year, according to the International Monetary Fund (IMF). Its World Economic Outlook report, released in October, predicts global annual real GDP growth to be 3.2% in both 2024 and 2025, rising to 3.1% in five years’ time, a performance…

As the earth continues to warm and concerns increase over climate risks ranging from extreme flooding to heatwaves, world leaders are gathered in Baku, Azerbaijan, for another round of climate discussions at COP29. For companies, the strategic consequences of climate action — particularly in the face of rising global uncertainties…

“Update now or risk losing access to your company’s systems and services.” Executives have likely seen this kind of message regularly sent to their company-issued mobile phone or computer. And when it pops up, they know exactly what it means and why: upgrading a device’s operating system can help protect…

Change can be challenging—and slow. Case in point: a decade of research on Women in the Workplace, conducted by McKinsey in partnership with LeanIn.Org, discloses several areas where women still lag behind their counterparts. In this episode of The McKinsey Podcast, McKinsey senior partners Alexis Krivkovich and Lareina Yee speak with global…

When İşbank decided to design a daily banking experience for the next generation, it found itself in a sector with more than 600 fintechs already competing to capture an exploding market with the tens of millions of young, digitally savvy customers. The bank assembled a team and challenged them to…

Methane emission abatement and flaring reductions are central to global decarbonization, especially for the upstream oil and gas (O&G) sector. Upstream O&G accounts for roughly 7 percent of total global greenhouse gas (GHG) emissions, and half of that comes from methane.Since 2021, when many O&G players committed to the Global…

The post-COVID-19 era has created lasting fissures in the supply chain. Amid increasing globalization, rising customer expectations, and double-digit shipping growth, supply chain organizations—not just manufacturers and suppliers but also the warehouses and transporters they rely on—are under duress. They grapple with issues related to operational efficiency, demand forecasting, inventory…

It has been nearly two years since the launch of ChatGPT and other generative AI (gen AI) tools that revolutionized the way AI is perceived and consumed by industries, businesses, and other users. In that time, McKinsey experts estimate the capabilities unlocked by gen AI have helped accelerate levels of…

Much has been written on performance management. Why do so many employees still find it bureaucratic and unfair? On this episode of McKinsey Talks Talent, talent experts Bryan Hancock and Brooke Weddle speak with global editorial director Lucia Rahilly about new research on what drives performance: what motivates employees most, what matters…

For an industry focused on mitigating risk and providing protection, the world’s insurers are enduring a particularly volatile age. The macroeconomic picture is mixed, with inflation stubbornly high and interest rates uncertain. Consumer confidence remains shaky, even though the economic growth cycle appears to have bottomed out. Geopolitical instability remains…

This article is an in-depth analysis of commercial property and casualty insurers, one of three sections in the Global Insurance Report 2025.In an industry that revolves around reducing uncertainty for customers, commercial property and casualty (P&C) insurers are themselves confronting macroeconomic uncertainty across multiple fronts. Inflation has remained stickier than…

This article is an in-depth analysis of personal property and casualty insurers, one of three sections in the Global Insurance Report 2025.The personal lines property and casualty (P&C) industry writes about a quarter of the world’s insurance premiums. It protects people and their loved ones wherever they are, every day.…

A male Eastern Bluebird perched on top of a mossy branch and set against a light blue background. Biodiversity refers to the full variety of life on Earth, from bacteria and plants to animals and entire ecosystems, such as mangrove forests or coral reefs. A wide range of flourishing flora…

We’ve all heard someone say that something is “on” or “part of” the COO agenda. But all too often, what that means is unclear. Indeed, in a recent roundtable discussion, few COOs said that they had taken the time to think through and define their agenda. Part of the reason…

In the rapidly evolving healthcare landscape, AI has the potential to reshape how consumers engage with medical services. Today, consumers in the United States can struggle with everything from finding the right insurance coverage to understanding when they should see a doctor, what it will cost, and how to manage…

Since my last China Brief, consumption has gained momentum, particularly with the unveiling of a series of economic stimulus measures since September 24. The highly anticipated annual Double 11 Shopping Festival, which ended on November 11, well exceeded industry expectations, further fueling excitement among industry executives around the pickup in…

In this episode of McKinsey on Building Products, a podcast dedicated to the exploration of software product management and engineering, McKinsey partner Rikki Singh speaks with Robert Chatwani, president of growth at Docusign. Chatwani’s decades-long career has focused on the marriage of the marketing and growth functions to create more-compelling…

Organizational health is crucial to long-term performance, yet it is a moving target. For more than 20 years, McKinsey’s Organizational Health Index (OHI) has examined the practices and outcomes that lead to better health (exhibit). Through extensive research that yielded our latest OHI insights, we identified emerging and evolving trends…

The rapid advancement of AI and generative AI (gen AI) is fundamentally transforming the cybersecurity landscape, presenting both opportunities and challenges for cybersecurity providers. As more organizations in both the private and public sectors use AI to enhance their operations, they risk inadvertently introducing new cyber-related threats. This is creating…

A pair of red and white concrete road barriers aligned on a street against a light blue background. You know about guardrails on the highway: barriers along the edge of the road that protect vehicles from veering off course and into danger. With the advent of generative AI (gen AI),…

On this page: Opportunity | Solution | Impact 0Kdocumentseasily searchable in database$0K+per hourestimated saved via recouped downtime0%improvement inapprox. 1st-time resolution rates The Opportunity Enhancing field service support with generative AI Ascendum is a Portugal-based global provider of machinery and equipment for the construction, infrastructure, haulage, and agriculture sectors. The company…

As India embraces digital transformation, inclusion, and a new role as a tech leader exemplified by a decade of technology transformation, or “techade,” new opportunities open up for the insurance sector and the wider financial services industry. With strong valuations and a significant growth trajectory, India’s insurance industry is poised…

A great aviator is constantly aware of their surroundings. Watching for changes in the weather and in the paths of other aircraft is vital. The same is true for being a great CEO, which is why the business press is full of information about what’s happening in the business environment:…

Today, banks use risk management to help drive strategic development for growth. This is a comprehensive approach to risk that insurers should aspire to emulate, especially as new risks are emerging more quickly and creating new challenges. According to a 2023–24 benchmarking survey from McKinsey, leading European insurers should look…

Active portfolio management should always be “Plan A.” Corporations that consistently refresh their business mix outperform their peers in TSR by 3.5 percent over the long term, honing their portfolios to develop, acquire, and divest businesses to realize their enterprise strategy. The goal, after all, is not growth for growth’s…

Decades after the internet’s debut, millions of Americans still lack access to high-speed broadband service. The Broadband Equity, Access, and Deployment Program (BEAD), part of the US government’s 2021 Infrastructure Investment and Jobs Act, provides $42.45 billion in federal funding to expand high-speed internet service across the country. By the…

Although hard to predict, even in the best of times, the fashion industry is in for a particularly tumultuous and uncertain 2025. A long-feared cyclical slowdown has arrived. Consumers, affected by the recent period of high inflation, are increasingly price sensitive. There is also the surprising rise of dupes, the…

Renewable energy is booming. Power generation from renewable sources, such as solar and wind, is projected to grow from its current share of about 25 percent of total US generation, to about 45 percent, by 2030. Although this new renewable capacity will help meet net-zero climate policy goals, it’s also…

Power and gas trading is undergoing a transformation. The global trading value pool for these commodities is growing by leaps and bounds. It hit nearly $33 billion in 2023, up 50 percent from the year before. But that’s only part of the story. The rise of renewable energy has introduced greater…

Companies globally are looking to adopt Fourth Industrial Revolution (4IR) technologies to boost both productivity and sustainability. However, the path to success is fraught with challenges, from outdated legacy systems to the critical need for workforce upskilling. In some cases, companies need to overcome an image problem that makes it…

Although capital deployment is strongly linked to enterprise value (EV) and financial health, it has always been difficult to manage. The chemical industry is no exception.Our research finds that the chemical industry anticipates annual growth of 3 to 5 percent by 2030, a 4 percent increase in capital expenditures, and…

Product portfolios tend to grow. Companies add new products and variants all the time to meet specific customer needs, pursue new market opportunities, or exploit technological advances. They can also be reluctant to kill off older items, for fear of upsetting long-standing customers. Finding the sweet spot in a portfolio…

The demand for oil and gas has returned to prepandemic levels; however, the energy transition is expected to change the demand trajectory for the industry over the medium- to long term. For oil, under all bottom-up scenarios modeled in our recent Global Energy Perspective 2024 report, demand is projected to…

In this episode of McKinsey on Building Products, McKinsey’s podcast on software product management and engineering, McKinsey partner Rikki Singh speaks with Varun Parmar, general manager of Adobe. Throughout his career, Parmar has led product teams at technology companies that are leaders in product-led growth (PLG), such as Box, Miro,…

A 3D rendering of light bulb covered with green grass and blooming yellow flowers against light gray backgroundAs with many aspects of modern life, technology has a significant role to play in tackling climate change—arguably the greatest challenge our species has ever faced. But to avoid the most devastating effects of…

Technology has reshaped banking. Traditional financial institutions have grown their technology teams and are demanding more from them than ever before. Technology teams build innovative new products such as AI-enabled personalized customer experiences, digital payments, and analytics-driven cross-selling. They integrate acquisitions, automate back-office processes, and securely manage vast amounts of…