CFO Dive November 27, 2023
More than eight out of 10 CEOs believe innovation is key to outperformance, but only 6% are satisfied with their companies’ track record in creativity, McKinsey said.
Dive Brief:
- Companies that outshine their peers in both innovation and growth achieved higher profitability and superior total shareholder return from 2012 until 2022, McKinsey said, describing the companies’ common strategies for outperformance.
- Among 650 large companies worldwide, 53 showed both outstanding growth and innovation, surpassing rivals among Global 2000 companies in median excess annual shareholder return by 11 percentage points, McKinsey said in a report. Two-thirds of the “innovative growers” ranked in the top quintile in profitability among Global 2000 companies.
- “Innovation remains a must-have, not just a nice-to-have,” according to...
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