33. How new CEOs can manage for the future

McKinsey senior partners Carolyn Dewar and Michael Birshan discuss the dilemma faced by new CEOs: focus on short-term results or invest in long-term future. They highlight the benefits of a long-term perspective and share research on company performance. They emphasize the strategic reallocation of capital and resources, including human capital. The impact of digital on traditional retail and the importance of building platforms and networks are explored. The challenges and necessary skills to succeed as a CEO are also discussed.