We discuss the challenges and opportunities of building new businesses within an organization during a transformation. How should business leaders balance the need for transformation with pursuing new business ventures? What is the role of strategy in business reinvention? What evidence is there that optimizing the core business and building new businesses translates into higher performance? 

Our guests are senior partner Chris Hagedorn and partners Matt Banholzer, and Ryan Nguyen.

Related insights:

Listen to episode 187. Driving innovation with generative AI with Matt Banholzer and Laura LaBerge 

Stay up to date with the latest insights from McKinsey Transformation on McKinsey.com

Join the McKinsey Transformation LinkedIn community 

Discover the latest insights from our Strategic Growth & Innovation Practice on McKinsey.com 

We discuss the challenges and opportunities of building new businesses within an organization during a transformation. How should business leaders balance the need for transformation with pursuing new business ventures? What is the role of strategy in business reinvention? What evidence is there that optimizing the core business and building new businesses translates into higher performance? 
Our guests are senior partner <a href="https://www.mckinsey.com/our-people/chris-hagedorn">Chris Hagedorn </a>and partners <a href="https://www.mckinsey.com/our-people/matt-banholzer">Matt Banholzer, </a>and <a href="https://www.linkedin.com/in/ryan-nguyen-506b274/">Ryan Nguyen.</a>
<hr>
Related insights:
Listen to episode <a href="https://omny.fm/shows/inside-the-strategy-room/187-driving-innovation-with-generative-ai">187. Driving innovation with generative AI</a> with Matt Banholzer and Laura LaBerge 
Stay up to date with the latest insights from <a href="https://www.mckinsey.com/capabilities/transformation/our-insights">McKinsey Transformation on McKinsey.com</a>
Join the <a href="https://www.linkedin.com/showcase/mckinsey-transformation/">McKinsey Transformation LinkedIn community </a>
Discover the latest insights from our <a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/how-we-help-clients/strategic-growth-and-innovation">Strategic Growth &amp; Innovation Practice on McKinsey.com </a>

We talk with McKinsey partners and corporate executives on the challenges they face creating lasting strategies in a fast-changing world. We also examine the different ways these executives approach these challenges and the new and innovative ways they think of creating a vision for their enterprises.

What does it take to survive in a world of constant change? More than ever, enterprises need to create strategies that can meet current needs but also adapt to future demand. A regular series of interviews with McKinsey partners and corporate executives.

Inside the Strategy Room

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few.  But it takes bold people and courageous approaches to seize those opportunities and create value.

In each episode of our weekly podcast, we interview the world’s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them. 

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few. &nbsp;But it takes bold people and courageous approaches to seize those opportunities and create value.
In each episode of our weekly podcast, we interview the world&rsquo;s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them.&nbsp;

210. Transformation and new business building

What does today’s wave of AI and economic change really mean for markets, jobs, and leadership?

In this episode, David Solomon, Chairman and CEO of Goldman Sachs, joins our North America Chair and senior partner, Eric Kutcher, to explain why he sees the current moment as more evolutionary than unprecedented. Solomon discusses what’s driving market resilience in 2026, including fiscal policy, AI infrastructure investment, and shifting trade dynamics. He also shares how Goldman is using AI to boost productivity, reengineer core processes, and invest for long-term growth—as well as candid lessons on leadership, resilience, and decision-making at the top. This episode was recorded in December 2025.

Related insights

The strategic realities of a new era

‘Saying “I don’t know” is one of the hardest things a leader can do’: A conversation with Delta CEO Ed Bastian

Retired US Navy Admiral Eric Olson: Leading effectively in uncertain times

Building geopolitical resilience: A conversation with Michèle Flournoy

What does today&rsquo;s wave of AI and economic change really mean for markets, jobs, and leadership?
In this episode, David Solomon, Chairman and CEO of Goldman Sachs, joins our North America Chair and senior partner, Eric Kutcher, to explain why he sees the current moment as more evolutionary than unprecedented. Solomon discusses what&rsquo;s driving market resilience in 2026, including fiscal policy, AI infrastructure investment, and shifting trade dynamics. He also shares how Goldman is using AI to boost productivity, reengineer core processes, and invest for long-term growth&mdash;as well as candid lessons on leadership, resilience, and decision-making at the top. This episode was recorded in December 2025.
Related insights
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-strategic-realities-of-a-new-era">The strategic realities of a new era</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/saying-i-dont-know-is-one-of-the-hardest-things-a-leader-can-do-a-conversation-with-delta-ceo-ed-bastian">&lsquo;Saying &ldquo;I don&rsquo;t know&rdquo; is one of the hardest things a leader can do&rsquo;: A conversation with Delta CEO Ed Bastian</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/retired-us-navy-admiral-eric-olson-leading-effectively-in-uncertain-times">Retired US Navy Admiral Eric Olson: Leading effectively in uncertain times</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/building-geopolitical-resilience-a-conversation-with-michele-flournoy">Building geopolitical resilience: A conversation with Mich&egrave;le Flournoy</a>

294. Goldman Sachs’ David Solomon on adapting to economic and technological change

After a long period of uncertainty, the fog has lifted, and while private equity rebounded in 2025, the clearer visibility has also revealed a more complex and demanding landscape.

In this episode, the authors of our 2026 Global Private Markets Report unpack the structural shifts reshaping the industry—from elevated multiples and longer hold periods to the growing importance of scale, specialization, and alternative capital. They also explore how artificial intelligence is emerging as a core driver of competitive advantage, with early adopters embedding AI into pricing, productivity, and portfolio strategy to create structural alpha.

As private equity continues to mature, dispersion between leaders and laggards is set to widen. The question for dealmakers, operators, fundraisers, and LPs alike: who is equipped to best navigate this new terrain?


Related insights 

Global Private Markets Report 2026 Private equity: Clearer view, tougher terrain

After a long period of uncertainty, the fog has lifted, and while private equity rebounded in 2025, the clearer visibility has also revealed a more complex and demanding landscape.
In this episode, the authors of our 2026 Global Private Markets Report unpack the structural shifts reshaping the industry&mdash;from elevated multiples and longer hold periods to the growing importance of scale, specialization, and alternative capital. They also explore how artificial intelligence is emerging as a core driver of competitive advantage, with early adopters embedding AI into pricing, productivity, and portfolio strategy to create structural alpha.
As private equity continues to mature, dispersion between leaders and laggards is set to widen. The question for dealmakers, operators, fundraisers, and LPs alike: who is equipped to best navigate this new terrain?
 Related insights&nbsp;
<a href="https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report">Global Private Markets Report 2026 Private equity: Clearer view, tougher terrain</a>

293. Private equity 2026 outlook: Clearer view, tougher terrain

Top dealmakers entered 2025 expecting to overcome continued challenges, but few anticipated how sharply trade and geopolitical pressures would intensify. In this episode, Jake Henry and Mieke Van Oostende, the global co-leaders of our M&A Practice, share key themes from our annual M&A report. They reflect on how dealmakers maintained focus, adjusted portfolios, and capitalized on shifting sector dynamics to drive substantial growth in 2025. They also share their perspectives on the five trends driving M&A in 2026.

Related Insights

Read the full report on McKinsey.com: 2026 M&A trends: Navigating a rapidly rebounding market

Top dealmakers entered 2025 expecting to overcome continued challenges, but few anticipated how sharply trade and geopolitical pressures would intensify. In this episode, <a href="https://www.mckinsey.com/our-people/jake-henry">Jake Henry</a> and <a href="https://www.mckinsey.com/our-people/mieke-van-oostende">Mieke Van Oostende</a>, the global co-leaders of our M&amp;A Practice, share key themes from our annual M&amp;A report. They reflect on how dealmakers maintained focus, adjusted portfolios, and capitalized on shifting sector dynamics to drive substantial growth in 2025. They also share their perspectives on the five trends driving M&amp;A in 2026.
Related Insights
Read the full report on McKinsey.com: <a href="https://www.mckinsey.com/capabilities/m-and-a/our-insights/top-m-and-a-trends">2026 M&amp;A trends: Navigating a rapidly rebounding market</a>

210. Transformation and new business building

In 1 playlist(s)

Inside the Strategy Room

Social links

Follow podcast

Recent clips