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30 January 2023
Business expansion withstands economic volatility
Tech-driven innovation
Brand growth
Marketing in a recession
Companies that include new business development among their strategic priorities are better able to navigate periods of economic stress, according to a study by McKinsey, the management consultancy.
Why it matters
Investing in new lines of business is a noteworthy item on the corporate agenda, as it can open new routes to growth and help brands respond to changing marketplace conditions. This strategy, however, requires support from the C-suite and adequate resources to succeed.
Takeaways
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