When is a medical-device manufacturer not just a medical-device manufacturer' When it's also an online marketplace for consumers to buy wellness products and get advice from healthcare providers. Amid unrelenting pressure from digital-first competitors, McKinsey analysis finds that established companies across sectors are increasingly building new business-to-consumer (B2C) businesses to capture their share of the $25 trillion B2C market. B2C business building is gaining traction because the traditional corporate strategy playbook is no longer enough to drive significant growth inside or outside a company's core. Business building can create entirely new revenue streams. A McKinsey Global Survey of more than 1,100 CEOs found that companies that allocate 20 percent of their growth capital to creating new businesses achieve two percentage points higher revenue growth than companies that do not invest similarly.1'How CEOs are turning corporate venture building into outsize growth,'...
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