Inside the Strategy Room

The role of chief transformation officer (CTO) is often linked with cost-cutting. In this episode, we discuss how this is a misleadingly narrow view and explain why and how CTOs should correct that misconception and redefine the role. Our guests are Kevin Carmody, a senior partner in our Boston office, AD Bhatia, a partner in our New Jersey office, and Emily Rizzi, an associate partner based in our Pittsburgh office.  Related insights Meet the newest member of the consumer C-suite: The chief transformation officerHow companies can transform with workers’ insights Join our LinkedIn community of more than 90,000 members and follow us on X at @McKStrategy.  Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com         Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

We speak  Brian Vickery and John Spivey, two authors of the 2023 McKinsey Global Private Markets Review. Brian and John join us to explore recent trends in private markets. They analyze why the markets have enjoyed strong tailwinds since the depths of the Global Financial Crisis and look at the origins of the recent slowdown. Will private markets continue to face headwinds? How did private market performance compare to public markets? That’s what we’re here to find out. Related insights McKinsey Global Private Markets Review: Private markets turn down the volumeFollow Brian's new podcast, Deal Volume Join our LinkedIn community of more than 90,000 members and follow us on X at @McKStrategy.  Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com    Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

In this episode, we explore the core principles of a successful investor relations strategy. We're joined by Werner Rehm, a partner in our New Jersey office, Jay Gelb, a partner in our New York office, David Honigmann, a senior expert in our London office, and Karl Mahler, a senior adviser to McKinsey based in Zurich who brings over 30 years of experience as a healthcare executive, including as head of investor relations at Hoffmann-La Roche.  We discuss why you should focus communication on the large intrinsic investors that matter the most, how to communicate with those intrinsic investors, and how to take a one-story approach that ensures communication is consistent across all groups. Related insights: Should you start issuing EPS guidance again?A better investor story for insurers Valuation: Measuring and Managing the Value of Companies, 7th edition Join our LinkedIn community of more than 90,000 members and follow us on X at @McKStrategy.  Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com   Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Our guest is Eric Lamarre, a senior partner in our Boston office and coauthor of the new book, Rewired: The McKinsey Guide to Outcompeting in the Age of Digital and AI. Eric and his coauthors, fellow senior partners Kate Smaje and Rodney Zemmel, based their book on the results of more than 200 large-scale digital transformations, creating a detailed guide for companies seeking to outcompete in the age of digital and AI. They’ve found that to increase the odds of long-term success in a digital transformation, the C-suite must make fundamental changes to the company’s talent, operating model, technology and data capabilities. In this episode, we speak to Eric about those changes and discuss how executives can leverage them to ensure that their digital transformation is a success. Related insights: Rewired: The McKinsey guide to outcompeting in the age of digital and AI The Wall Street Journal article mentioned by Eric: It’s Time to Get Rid of the IT DepartmentRewired for value: Digital and AI transformations that work Rewired to outcompete Join our LinkedIn community of more than 90,000 members and follow us on Twitter at @McKStrategy.  Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com   Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

In this episode, we explore why and how business leaders, and CFOs in particular, should try to see their businesses as investors see them.   We're joined by Chantal Lorbeer, a partner in our Munich office who advises global chemicals companies on their strategy, growth transformations, as well as their operating models and portfolio moves. Chantal co-leads our Strategy & Corporate Finance Practice in Germany was well as chemicals capital-markets perspective globally. Also joining us is Justin Sanders, a partner in our New York office who co-leads our shareholder teardown team, bringing a private equity investor perspective to corporate clients. Justin also founded our work helping clients prepare for, and respond to, activist investors.  Join our LinkedIn community of more than 90,000 members and follow us on Twitter at @McKStrategy.  Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com   Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

In this latest episode in our Committed Innovator series Erik Roth speaks with Harley Finkelstein, an entrepreneur and innovator who is president of the multichannel commerce platform, Shopify. Their conversation is essential listening for anyone interested in learning how to create and build a business that scales. Harley and Erik speak about what it means to be an entrepreneur, why starting a side business makes sense, Shopify's company culture, and how the t-shirt business Harley started in college led directly to him serving as the president of Shopify. Related insights The Committed Innovator podcastThe transcript for this episode The Committed Innovator on McKinsey.com  Join our LinkedIn community of more than 90,000 members and follow us on Twitter at @McKStrategy.  Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com   Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

The finance function and CFO's rope are evolving rapidly as digitization accelerates the pace of change amidst continuing economic and geopolitical volatility. Two expert colleagues join us to discuss how CFOs can help build world-class finance functions capable of withstanding external shocks and staying ahead of the competition.  Bjørnar Jensen is a senior partner in our Zurich office, and Liz Fasciana, is a senior partner in our London office. Both work extensively with CFOs around the world. They spoke with Sean at McKinsey’s CFO Forum in London in June. Related insights:   CFOs and the evolving finance function Join our LinkedIn community of more than 90,000 members and follow us on Twitter at @McKStrategy.  Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com   Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

In this episode we talk about corporate venture capital: Why should you do it? How should you do it? And what should you expect from it?   Traditionally, established corporations have tended to view start-ups as undisciplined and naive, while start-ups might dismiss incumbents as stodgy and behind the times. It’s (mostly) not like that anymore, as both sides increasingly recognize each other’s strengths and the value of collaborating. In fact, large companies are now involved in about a third of all venture deals—an all-time high. More than three-quarters of the Fortune 100 are active in the venture capital (VC) space and half have a VC arm set up as a subsidiary, not including companies with internal VC business units.  Joining us to discuss this innovation and investment landscape are Matt Banholzer and Sid Ramtri. Matt is a partner in our Chicago office who heads up innovation at McKinsey and is a leader in our growth and LEAP business building practices. Sid is an associate partner in our São Paulo office and a core member of our private equity and venture capital practices.   Related insights:   How to make investments in start-ups pay off  How to build a unicorn: Lessons from venture capitalists and start-ups  The Ecosystem Economy   Join our LinkedIn community of more than 90,000 members and follow us on Twitter at @McKStrategy.  Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com   Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Today's episode focuses on how companies can manage risks and seize opportunities emerging from shifting geopolitical trends. We’ll talk about why organizations need to strategically invest in capabilities, people, processes, structures, and technology to navigate the risks arising from an evolving and fraught geopolitical landscape. Joining us is Ziad Haider, McKinsey's global director of geopolitical risk, Leo Geddes, a partner based in London who co-leads our geopolitics client service globally, and Olivia White, a senior partner in our Bay Area office who is also a director of the McKinsey Global Institute. Related insights: How to navigate geopolitical risk amid a fragmenting global order How three global companies navigate geopolitical risk to build resilience How to build geopolitical resilience amid a fragmenting global order  War in Ukraine: Twelve disruptions changing the world  Join our LinkedIn community of more than 90,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com  Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Joining us for this episode is John Horn, author of the new book Inside the Competitor's Mindset. John’s book analyzes how businesses can better understand their competitors and maximize the value of their competitive insights. He is a Professor of Practice in Economics at the Olin Business School at Washington University in St. Louis. We also have Emma Gibbs with us. Emma is a partner in our London office, and head of our Strategy and Corporate Finance Practice in the U.K., Ireland, and Israel. Join our LinkedIn community of more than 90,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.comJoin 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Juvencio Maeztu is Deputy CEO and CFO of Ingka Group. Ingka Group is IKEA’s primary retail organization and represents roughly 90% of its global sales. Juvencio joined IKEA in 2001 and prior to starting his current role, he led IKEA India as CEO for over 6 years. Juvencio sat down with Sean Brown in London to discuss the company's triple bottom line: successfully meeting customer needs, achieving financial outperformance, and ensuring a sustainable environmental footprint. Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.comJoin 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

The road to becoming CEO is a difficult ascent for even the most seasoned leaders. We discuss the four keys to making that journey a success with Carolyn Dewar and Vik Malhotra, two of the authors of the New York Times bestseller, CEO Excellence.    Carolyn is a senior partner in our San Francisco office who founded and co-leads our CEO Excellence Practice. She works directly with Fortunate 100 client CEOs to help them maximize their effectiveness in the role. Vik is a senior partner in our New York office, who is one of our firm’s most senior client advisors. Vik has served on our board of directors and as our Managing Partner of the Americas, and he currently focuses on counselling CEOs and boards. Our Voices of CEO Excellence interviews with: James GormanStephen Schwarzmann, andKen Frazier Our previous episodes on CEO excellence: Starting strong: Making your CEO transition a catalyst for renewalLeadership lessons from the world's best CEOs Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.comJoin 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

PepsiCo's design chief Mauro Porcini talks about the role of humanity andauthenticity in driving innovation. In today’s episode, Mauro Porcini speaks with senior partner Erik Roth as part of our Committed Innovator series of discussions. Mauro is an enthusiastic innovator and design evangelist. He recently published The Human Side of Innovation: The Power of People in Love with People where he describes the power of design to drive sustainable and inclusive growth. He is passionate about unleashing people’s natural innovative tendencies. In his discussion with Erik, Mauro demonstrates how the best innovations go beyond the need to make a profit and come from an authentic motivation to create something extraordinary for people. He also shares the five different phases that are essential for building an innovative mindset and culture in any organization. Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com  Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

The chief strategy officer’s role has expanded significantly over the past decade. We look at what it takes to be a successful strategist today. In this episode we discuss the ways in which strategy leaders’ responsibilities have expanded significantly over the past decade, with many adding other functions to their roles. Sean is joined by Emma Gibbs, a partner in our London office who leads our Strategy and Corporate Finance Practice in the U.K., Ireland, and Israel. Emma serves institutions in highly regulated industries, helping develop strategies at the interface of the public and private sectors. Na'ama Alpert, a consultant in our Southern California office whose client experience spans private equity, technology, and electric vehicles. And Whitney Zimmerman, an associate partner in our London office. Whitney leads our research on the role of the chief strategy officer and strategy organizations. He helps client CSOs define their role and mandate.  Related insights: Creating more value with corporate strategy Strategy Beyond the Hockey Stick What Makes a Great Chief Strategy Officer Rethinking the role of the strategist  Have you tested your strategy lately? Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com  Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

In today's episode, Teradata’s chief financial officer, Claire Bramley,discusses the evolving role of finance leaders with McKinsey CFO, Eric Kutcher. Today, being a CFO requires harnessing the power of the “and” across many mandates: Playing offense and defense, leading the finance function, partnering with the broader C-suite, navigating short-term budget reallocation, and investing in strategic bets for the future, like investments in sustainability. Claire Bramley, CFO of Teradata, discusses what it takes to navigate the macro and micro forces driving today’s unpredictable environment with McKinsey’s CFO Eric Kutcher. Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com    Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

New research shows that programmatic M&A helps companies outperform peers more than ever, creating value and resilience, even during a pandemic. In this episode the authors of our recent research on M&A discuss their latest findings that programmatic M&A—doing many small and midsize deals—helps build resilience in addition to outperformance over peers. Jeff Rudnicki and Tobias Lundberg lead our M&A strategy work globally, and Patrick McCurdy is global co-lead of our M&A capability building work. They were joined by Joanna Stone Herman, a partner at the M&A advisory firm Oaklins DeSilva+Phillips.  Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com    Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

In this second episode of our Voices of CEO Excellence interview with Ken Frazier, the former executive chairman and CEO of Merck candidly reflects on how he managed past crises. Frazier discusses his decision-making process around the litigation trial concerning Merck’s pain-relief drug Vioxx, and how his employees ensured that a potentially crippling cyber attack did not stop production of critical medicines. He also speaks about how his most important advisor, his wife Andrea, has kept him grounded.  Frazier spoke with Vik Malhotra, former chairman of McKinsey’s Americas region and co-author of last year’s New York Times bestseller, CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest and Steve Van Kuiken, a former leader in our Life Sciences Practice and global leader of McKinsey Technology.  Listen to other episodes in our Voices of CEO Excellence series: Blackstone’s chairman, CEO, and cofounder, Stephen SchwarzmanMorgan Stanley’s chairman and CEO, James Gorman Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com Take a masterclass with 67 of the world’s highest-performing CEOs and order your copy of the New York Times bestseller, CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest.  Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

As CEO of Merck, Ken Frazier gained the respect of his employees, shareholders, and the broader community - both through the company’s performance during his 11-year tenure and also through his handling of several tests of his leadership. Now Merck’s former executive chairman, he recently shared how his experience growing up during the Civil Rights Movement shaped his career, how he ensured that science stayed at the core of Merck’s mission, and how he sees business’s role in society. In this, the first of two new episodes Frazier recorded for our Voices of CEO Excellence series, he spoke with Vik Malhotra, former chairman of our Americas region and co-author of last year’s New York Times bestseller, CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest and Steve Van Kuiken, a former leader in our Life Sciences Practice and global leader of McKinsey Technology.  Listen to other episodes in our Voices of CEO Excellence series: Blackstone’s chairman, CEO, and cofounder, Stephen SchwarzmanMorgan Stanley’s chairman and CEO, James Gorman Join our LinkedIn community of nearly 90,000 members and follow us on Twitter at @McKStrategy. Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com Take a masterclass with 67 of the world’s highest-performing CEOs and order your copy of the New York Times bestseller, CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest.    Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Congratulations, you’re a new CFO—now hit the ground running with these seven key mindsets and practices that effective CFOs adopt from day one. Joining Sean for this episode is Andy West, the global co-leader of McKinsey's Strategy and Corporate Finance Practice, Ankur Agrawal, a partner based in our New York office who leads our CFO and Capital Markets Practice in the Americas, Christian Grube, a partner in our Munich office, and he leads our CFO and Capital Markets practice across Europe, and Lauren Cooks Levitan, the CFO of Faire, a global wholesale e-commerce marketplace. Articles mentioned in this episode:  Starting up as a CFOThe evolution of the CFOThe Bias Busters Collection The new CFO mandate: Prioritize, transform, repeat Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy. Explore more Inside the Strategy Room episode transcripts on McKinsey.comJoin 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

What does purposeful growth look like in the retail sector? In this episode, McKinsey’s Brian Gregg speaks with two former senior executives at Nike, Christiana Shi and Stuart Hogue, about the strategies that enabled them to lead productive teams in the retail sector. The conversation touches on the importance of nurturing talent, building diverse teams, and identifying opportunities for individual and organizational growth. We are sharing today’s episode as part of an ongoing collaboration with our Growth, Marketing, and Sales Practice on the topic of growth strategy.  It is also the second episode of the Practice's new podcast called C-Suite Growth Talks, which will feature conversations with leading executives about how they are successfully choosing growth, by aligning around a shared mindset, strategy, and capabilities.   Links:  Episode transcriptC-Suite Growth Talks podcastMckinsey.com article: 'Choosing to grow: The leader’s blueprint'Join our LinkedIn community of more than 89,000 members and follow us on Twitter at @McKStrategy.Explore more Inside the Strategy Room episode transcripts on McKinsey.com  Join 90,000 other members of our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information