Business leaders predict that by 2026, half of their revenues will come from products, services, or businesses that haven’t yet been created. Why is new business building emerging as a top priority for CEOs and companies? Partner Vivek Lath explains how new business building can help bridge that gap through sustainable, inclusive growth.
We conducted a survey recently. More than 50 percent of the top executives highlighted new business building as among their top three priorities. The reason for that is threefold: number one, there is a massive shift in value pools. This is driven by sustainability, as well as a more digital way of working.
The second reason is that companies are realizing that to beat the market expectations or to be more resilient, they need to capture new value pools. Thinking about new products lines, thinking about areas where they have not worked in.
Thirdly, it also helps the company change their culture, be more innovative, and attract new set of talent.