When incumbents breed unicorns: Building new businesses as the next wave of growth | WEF

#Growth, #Innovation, #Sustainability, #Trends

Traditional businesses are increasingly focusing on building new, independent enterprises from the ground up, moving away from the typical mergers and acquisitions model. About 55% of business leaders see this as a top priority, with 74% who adopt this strategy outperforming their industry counterparts.

Despite the promise, only 20% of these new ventures scale successfully. Key factors for success include having supportive CEOs, providing autonomy to these new entities, gaining deep customer insights, and making strategic acquisitions. Given the current disruptions and fast-paced digitization, this trend underscores the urgent need for innovation, potentially ushering in an era of sustainable and inclusive growth.

Check the report here: bit.ly/49DmDlg