What does it take to stay successful after decades, or even centuries, in business? For enduring companies, success isn’t just about standing the test of time. It’s also about knowing when and how to reinvent.
For Lloyds Banking Group, which has been in business for over 250 years, staying relevant means maintaining customer trust while constantly looking “to the future to reinvent yourselves,” says CEO Charlie Nunn. In an interview with McKinsey Senior Partner Tunde Olanrewaju, Nunn explains how the bank is using AI to improve customer service and bring financial insights and broaden access to financial advice.
At Siemens, a company with more than 175 years of history, Digital Industries CEO Cedrik Neike sees AI as key to its next reinvention. Speaking with McKinsey Senior Partner Asutosh Padhi, Neike envisions AI-native factories that can adapt to supply chain shifts and customer demand. Achieving that vision also requires setting clear priorities. “We’re focusing on doing fewer things better than anyone else,” Neike says.
For Asia’s successful founder-CEOs, balancing short- and long-term priorities goes hand in hand with a commitment to continuous improvement. In a recent episode of the Future of Asia Podcast, McKinsey Senior Partner Joydeep Sengupta describes their approach: “It’s not just about the big-bang innovations, but about getting up every day and striving to become better than the previous day.”
Read on to explore more perspectives on how business leaders are adapting to change, staying relevant, and building businesses that endure.
Brilliant Moves: Coffee with Lloyds Banking Group CEO Charlie Nunn
Siemens’s next reinvention: An interview with Cedrik Neike
Shapers and Founders: Understanding the owner mindset
Europe on the move: A conversation with Boerse Stuttgart Group’s CEO
How a 180-year-old news institution prepares for its next reinvention
The big pivot: Interview with Körber CEO Stephan Seifert