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MORE than half of the respondents to a recent survey believe the incorporation of artificial intelligence or AI and the Internet of Things into new businesses can deliver greater value propositions.

There is a need to build new businesses and it is these new businesses that have the potential to lead the next wave of innovation and disruption within industries.

Building new businesses has to be done fairly quickly with increased investment to meet revenue expectations in the future. Reliance on existing businesses is not enough.

These were the findings of a recent survey by McKinsey & Company titled “New business building in 2022: driving growth in volatile times’’. The survey attracted over 1,000 business leaders from 75 countries.

It said eight in 10 CEOs surveyed believe new business building as their top five priority despite the volatile economic situation.

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Companies are building 50% more new businesses per year than five years ago. This is because every dollar of revenue from the new business generates almost twice the enterprise value versus every dollar of core business revenues, it said.

New businesses built in the past five years accounted for 12% of companies’ revenue and 21% of their enterprise value, the report said.

Best practices will also set apart successful new business from those that underperform or are discounted, it said.

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区块链百家乐官网:泰国:第三季度国内生产总值意外上升-大华银行 作者:Fxstreet 2022-11-23 08:34
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