![]() You’ve got to take control of the stick and fly by hand.” “Going on autopilot is the worst thing you can do at a moment like this. “These are the times to redraw the lines,” he says. In this context, Stretch says M&A deals that can facilitate a change in strategic direction and be “better than just merely a transaction” remain on the agenda of boards and executive teams. For example, many management teams are living through a period of rising inflation for the first time in their working lives, and finding their business models challenged in ways they didn’t expect. ![]() Stretch says this “cluster of earthquakes” is forcing boards to reconsider their strategy and their portfolio. McKinsey’s view is that the world is going through something much more serious than a change in the business cycle, as issues such as rising geopolitical tension, the global energy transition and higher rates and inflation coalesce. ![]() That might sound like a glass half-full view of the environment, but Stretch points out the 2022 version of the McKinsey and Goldman conference, to be held in Sydney on Thursday, is as great as ever.
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