Maximizing the core, expanding into attractive adjacencies, and selectively launching new businesses can help midsize consumer companies achieve growth.
Growth is hard to achieve and even more difficult to sustain. Our fall 2022 survey of more than 150 European executives at mid-cap consumer companies offers insights into how companies are able to tackle this challenge successfully. Here are four key takeaways for companies:
- Apply a venture capital or private equity mindset to your growth strategy.
- Don’t underestimate the potential contributions of your core business.
- Make sure you have a sharply defined strategy and sense of direction for growth.
- Link your strategic-growth vision and direction to a clear and essential set of targets and key performance indicators.
In this video, McKinsey partners Kathleen Martens and René Schmutzler discuss these and other insights gleaned from the survey.
