McKinsey On Strategy

What if the world’s highest-performing CEOs held a master class to share the skills and practices that have driven their success? #CEOExcellenceBook offers critical insights from interviews with 67 CEOs. Preorder it here ➡️ mck.co/3nTSCYK

This week on Inside the Strategy Room, we discuss how boards can evolve to provide effective oversight in the age of AI. Listen here: bit.ly/48hmMMD

The question is no longer whether AI matters for business building, but how to apply it in ways that deliver sustained performance. Here is a strategic playbook for business leaders ready to seize this growth opportunity: mck.co/4v2hXkb

Succession is a defining season of the CEO journey. Clear roles and deliberately designed transitions shape what follows. #CEO4AllSeasons explores how leaders navigate every season of the role, from stepping up to sending it forward. mck.co/4m1GPoc

What prepares someone to become CEO? Research with top-performing CEOs shows a portfolio built over time: results, expertise, mobilizing others, and trusted relationships. #CEO4AllSeasons explores how leaders build that portfolio across the CEO journey. mck.co/4uFfdJj

Close TSR can hide very different drivers. Breaking returns into operating performance, reinvestment, and expectation shifts clarifies what’s creating value vs. what’s sentiment. A core principle in Valuation, 8th Edition: mck.co/3Nny9f3 #Valuation8thEd

Readers call #CEO4AllSeasons “a masterclass in leadership evolution” and “the playbook you want throughout your career.” Because leading well isn’t about one moment. It’s about navigating every stage of the CEO journey with clarity and confidence. mck.co/4sCiGab

Becoming a CEO is only the first step in a long journey. In A CEO for All Seasons, the authors examine how to thrive across every stage and how early choices shape performance for years to come. mck.co/4bqf8QP #CEO4AllSeasons

Growth only creates value when returns exceed the cost of capital. Without that discipline, scale magnifies underperformance. #Valuation8thEd mck.co/4sKb3Oq

Earnings can rise without value improving. Longer-term data shows shareholder returns align more closely with economic-profit growth, especially when paired with revenue growth. Focus on the economics, not the optics. Read the full analysis: bit.ly/4uiFAEP

Across the CEO's leadership journey, reinvention is not optional. It is essential. Each stage calls for a different set of leadership skills. Discover more in #CEO4AllSeasons - mck.co/4rZpWN5

David Solomon, Chairman and CEO of Goldman Sachs, joins our North America Chair and senior partner, Eric Kutcher, on this episode of Inside the Strategy Room, to explain why he sees the current moment as more evolutionary than unprecedented. Listen here: bit.ly/4dbsGCf

Tim Koller reflects on four decades in corporate finance: bit.ly/3PvddDh

Digital does not rewrite valuation. It changes where the investment shows up. Software development, data infrastructure, and customer acquisition often appear as costs. Economically, they function as capital. #Valuation8thEd mck.co/4lqJMhS

Deal activity rebounded in 2025, but the next phase demands sharper execution, disciplined value creation, and strategic specialization. Listen to Inside the Strategy Room to learn what this “tougher terrain” means for dealmakers, LPs, and operators: bit.ly/4sxVdGW

Reaching the top is just the start. The real test is leading across the stage of the CEO journey. #CEO4AllSeasons, a NYT best seller, explores what it takes to lead with clarity and resilience across the full arc of the journey. mck.co/47xHAiy

People are up to 5x more motivated to execute initiatives they help create. Across the CEO journey, the shift from declaring strategy to co-creating it is a defining move. Explore more from #CEO4AllSeasons. mck.co/4rXiy4M

Misperceptions about the reach and durability of competitive advantage are hurting many companies’ profits. Five rules can help organizations maximize their edge over peers. Get the jump on the competition: mck.co/3OJC1HD

To identify shifts in competitive advantage, we looked for changes in market position using a metric we call the “shuffle rate”. Learn how to maximize your advantage: mck.co/3N7ni8P

The fog in private markets has lifted, but what looked like easier dealmaking in 2025 has revealed a more complex landscape ahead. Tune in to learn how dealmakers, operators, fundraisers, and LPs can navigate this next chapter. Listen here: bit.ly/4cvZ9mI

Momentum is a gift, but it can also narrow perspective. Across the CEO journey, the most effective leaders renew their strategy before momentum fades and position their institution for their next S-curve. From #CEO4AllSeasons - mck.co/3NbJy1d