Inside the Strategy Room
210. Transformation and new business building
Jun 28, 2024
Senior partner Chris Hagedorn and partners Matt Banholzer & Ryan Nguyen discuss balancing transformation & new business ventures, optimizing core operations, reallocation of resources, developing foundational capabilities, and enhancing innovation success through transformation and new business building.
42:57
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Quick takeaways
- Effective business transformation requires a balance of defensive and offensive strategies for growth.
- Companies must invest in capabilities for innovation, reinvention, and new business development to drive sustainable growth.
Deep dives
The Need for Continuous Reinvention in Business
Companies are facing pressures to constantly reinvent themselves due to factors like decreasing corporate longevity and the lowering of industry barriers. This reinvention is crucial to remaining competitive in the face of geopolitical risks and changing market dynamics. Business success depends on a combination of defensive strategies to ensure efficiency and offensive strategies to drive growth, requiring a holistic approach to performance improvement.
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