The sheer number of ongoing global shocks—inflation, a pandemic, the invasion of Ukraine—has many organizations hunkering down and awaiting an end to the present volatility. Others, though, see a chance to act quickly and decisively, before others have committed to making moves. McKinsey global managing partner Bob Sternfels and coauthors share how the variance between leaders and also-rans is reflected in recent averages in shareholder returns.
![Shareholder return averages hide considerable variance within sectors.](/~/media/mckinsey/featured%20insights/charting%20the%20path%20to%20the%20next%20normal/2022/oct/gifs/cod-couragevolatility-v7-ex1-jr-shrunk-timed.gif)
To read the article, see “Strategic courage in an age of volatility,” August 29, 2022.