Daniel Aminetzah
McKinsey commentary
Senior Partner
If you go across all the companies in different sectors and geographies, you’ll find that venture building is highly relevant. This underscores the reality that innovation isn’t just the arena of big tech and AI start-ups, especially given the surge in transitions and change that are redefining value pools and the roles that traditional companies can play.
One thing that’s driving this change is the range of the new technologies emerging and how fast they’re redefining barriers to entry for companies. Even those companies that are enjoying success from a strong position in the market—whether from a product or access to customers—can see things turn very quickly. Few companies should feel comfortable with their current advantages.
On the other side of the coin, these very technologies and forces of disruption can allow incumbent companies the chance to bring their assets into new markets and territories that haven’t historically been there. If a CEO isn’t making a concerted effort at building new ventures, they’re taking a real risk in their company’s legacy and relevance.
Getting to the necessary level of commitment requires CEOs to be able to reimagine their roles and where their companies might be. And it requires an ability to understand the article of the possible—how new technologies, trends, collaborations, and circumstances open new opportunities.