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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Science fiction could soon become a reality in the space sector—and it’s time for leaders to seize the opportunity. The space economy is valued at nearly half a trillion dollars and is rapidly growing. With massive technological progress and increased capital inflows in recent years, space is the next major domain, say McKinsey’s Ryan Brukardt , Jesse Klempner , Bob Sternfels , and Brooke Stokes in a new article. To unlock the potential of this domain, leaders should make space part of their organizational strategy. Be prepared for what’s ahead and get ready for takeoff.

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Space: The missing element of your strategy

The space sector is at an inflection point similar to what commercial air travel experienced after World War II and the internet saw in the 1990s. Is your company ready to capture the opportunity?

To the moon

Quote of the day

“It’s about building a star team rather than a team of stars. And we need to empower them to make decisions, give them the space to make mistakes and learn, and recognize that, ultimately, the buck stops with the CEO.”

—Pearlyn Phau, Group CEO of Singlife, on how she select leaders in “How to merge talent, skills, and purpose: A chat with the Group CEO of Singlife”

Chart of the day

Chart of food price inflation from 2018-2022

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Space: The missing element of your strategy

“It’s about building a star team rather than a team of stars. And we need to empower them to make decisions, give them the space to make mistakes and learn, and recognize that, ultimately, the buck stops with the CEO.”

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