McKinsey on Finance, Number 83

Global economic-profit pools have been shrinking over the past two decades. What’s going on?

Separations can be a once-in-a-lifetime opportunity to create value for the remaining and separated companies. The secret? Get granular about support costs and personal about talent.

CEOs should be relentless in allocating resources toward growth. That calls for decision making to be strategy-driven, granular, and framed by an influential team.

The former CEO and executive chairman of the pharmaceutical company offers candid reflections on how crises tested his commitment to values—both Merck’s and his own.

Beware of solving for enterprise multiples instead of value creation.

Decision making can be clouded when people attribute others’ actions and motivations to the societal roles that they play (such as parent, teacher, and manager).

When activist investors knock at the door, companies can do themselves a favor and let them in.