Is there a ‘Formula’ for the Success of Companies?
Is there a formula for companies to succeed? In almost every industry, a small number of companies do extremely well taking away most of the profits while others struggle constantly. According to a recent study by the McKinsey Global Institute, the top 10% of companies worldwide with more than $1 billion in revenues earned 80% of all economic profits from 2014 to 2016. The reason for this has been questioned alot. Could it be because successful companies have visionary and disciplined leaders, or is it because successful companies have superior management systems and organizational cultures? Is it because of positional advantages, or just luck?
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