| Why an emboldened Walmart is looking to beyond retail for future growth | | |  | FRI, FEB 26, 2021 | | | | | | TECH, TRANSFORMATION AND THE FUTURE OF WORK | | | | Think a friend or colleague should be getting this newsletter? Share this link with them to sign up.
There's a lot of hope on the horizon, and there are also some reality checks. To prepare for future growth, some organizations are rewriting their playbooks and making bold decisions to jump into new businesses to power their futures, and Walmart is at the helm of that.
The retail giant is looking to tap into its 150-million customer base and become a health-care provider, among other things. Facing the fact that retail is not a nimble enough business, the company feels "emboldened" and is moving to scale "new capabilities and businesses and designing them to work together in a mutually reinforcing way," CEO Doug McMillon said this week. Walmart, of course, is not alone in their plans. From Apple to Amazon, building out a wider net of offerings is key to survival and will make for a resilient future. Chevron CEO also made some powerful statements this week about evolving its business and the role of a leader (in addition to possible M&A ahead). Twitter CFO also shared that the company is focusing on accelerating the release of new products, developing a new subscription model, and acquiring a newsletter platform. While certainly a more natural extension of the product, pivots are prime for the long term.
It's a new world for business. With the possibility looming that a whole new set of jobs have yet to be created, rethinking beyond your core business appears to be a must.
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Join the exclusive network of the most influential CHROs and D&I chiefs pioneering the path forward. Apply to the CNBC Workforce Executive Council today. | | Why an emboldened Walmart is looking to beyond retail for future growth | | Walmart wants to use its stores, website and massive reach to drive businesses beyond retail, from advertising to health care. The retailer's leaders detailed the strategy Thursday at a virtual investor day. "We feel emboldened and are now moving with even more speed and aggressiveness," Walmart CEO Doug McMillon said at the investor day. "We're scaling more capabilities and businesses and designing them to work together in a mutually reinforcing way." | | | | | | The Next Normal: Reimagining the way businesses operate | | Imagine a world in which companies are defined by their ability to inspire, foster collaboration and create experiences for employees and customers that are simple, meaningful and enjoyable. Sound like some impossible, distant dimension? It's not. All this — and more — is beginning to take place right now inside organizations that are leveraging these challenging and uncertain times to reinvent, reshape and reimagine how they operate. Read more from McKinsey on cnbc.com. | | | |
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