In an uncertain economy, executives’ first instinct might be to cut costs and shore up established holdings. A better way is to build new businesses.

Many leaders are bracing for a rough economic ride—they’re girding their companies against a series of acute global risks. In addition to geopolitical instability, volatile commodity markets, and rising inflation, they anticipate continued waves of global health crises, more frequent and severe climate hazards, and major shifts in consumer and industrial demand. These developments, they feel, could put long-term pressure on their business models—thus heightening the need for resilience.1

Read more on McKinsey here.