A McKinsey & Co. article asserts that the COVID-19 crisis presents an opportunity few feel equipped to pursue.
Among surveyed executives across industries, only 21% said they have the expertise, resources and commitment to pursue new growth successfully.
Nearly 75% said changes brought about by the COVID-19 pandemic will be a big opportunity for growth, with variation across industries. Nevertheless, most leaders are focusing on current problems instead of the future.
This decline in focus on innovation is evident across all industries surveyed except for pharmaceuticals and medical products, which show a nearly 30% increase in the immediate focus on innovation.