Building new businesses in industrials

New digital offerings hold the key for industrial companies to counteract the effects of disruption and better serve their customers.

Industrials reported the second-highest drop in innovation as a priority, even though companies across sectors that invest in innovation throughout economic cycles consistently outperform their counterparts that do not. In fact, ambitious industrial companies could use this time to build new businesses and even reinvent themselves—if they take a thoughtful approach. To identify and nurture the most promising new businesses, industrial companies should follow a tested five-step method.

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