276. From strategy to performance: Building a new operating model for a new world
To successfully execute a strategy, organizations must make deliberate choices about their operating model. In this episode, Julie Goran and Dickie Steele, both partners based in New York, discuss the key elements that comprise an operating model and how leaders can design and implement one that drives performance. They explore the significance of moving beyond traditional structures to more emergent models, and share insights from their research on the trends that are shaping the future of organizational design. Drawing on their experience working with clients, they also provide practical guidance on how to navigate the challenges of redesigning an operating model to unlock value in a rapidly changing business environment. Julie Goran is a partner in our New York office and leads our digital organization work in our People & Organizational Performance and Financial Services Practices. She helps executives transform organizations to pursue growth and seize digital opportunities. Richard (Dickie) Steele is a partner also based in our New York office. He designs and delivers purpose-driven transformation programs and is an expert in culture change, organizational agility, and using design-thinking to remake employee experiences and drive improved performance and organizational health Related insights A new operating model for a new world Gen AI’s next inflection point: From employee experimentation to organizational transformation How Strategy Champions winSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information
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275. M&A update: Dealmaking is higher, despite volatility
After several years of slowed activity, mergers and acquisitions picked up in the first half of 2025, as disciplined dealmakers reentered the market despite continued uncertainty. In this episode, three McKinsey M&A experts share their recent analysis of global dealmaking, explore the continued outperformance of programmatic acquirers, and weigh in on what the rest of the year’s transactions might look like once the data are finalized. Jake Henry is a senior partner in our Chicago office and the global co-leader of our M&A Practice. He serves clients on M&A strategy, integration, separations, due diligence, and JVs and alliances. Patrick McCurdy is a partner in our Boston office and a leader of our M&A Strategy and Due Diligence work. He serves clients across industries, advising clients on how to leverage M&A as a differentiated capability. Luke Carter is an associate partner in our New York office and co-leads our M&A capability building work, as well as our annual M&A capability survey and our corresponding research into the habits of programmatic acquirers. Rich in resilience: Dealmakers deliver strong first-half results in M&A The seven habits of programmatic acquirers Time to revisit your M&A strategy M&A Annual Report: Is the wave finally arriving? Gen AI: Opportunities in M&A The portfolio management imperative and its M&A implications McKinsey Insights on Strategy & Corporate Finance McKinsey Insights on M&A McKinsey Strategy & Corporate Finance on LinkedInSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information
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274. How Nestlé’s CFO sharpens focus across a global portfolio
The CFO’s challenge has long been one of translating data into a story that the CEO and their management team can use to set strategy and make other decisions. As generative AI advances, the way that CFOs fulfil this role is changing, as guest and Nestlé CFO Anna Manz describes in this episode. Michael Birshan, a senior partner who leads our firm in the United Kingdom, Ireland, and Israel, and host Sean Brown, speak with Manz about how she uses AI now and plans to in the future, the impact of geopolitics on Nestlé's operations, and the CFO’s role in integrating the executive team in strategic decision-making and resource allocation. Related insights Toward the long term: CFO perspectives on the future of finance Connecting strategy, finance, and personal development: A conversation with Marjorie Lao What an AI-powered finance function of the future looks like Generative AI in finance: Finding the way to faster, deeper insights How finance skills are evolving in the era of artificial intelligence McKinsey Insights on the CFO role McKinsey Insights on Strategy & Corporate Finance McKinsey Strategy & Corporate Finance on LinkedInSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information
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273. Delta Air Lines CEO Ed Bastian: Lessons from the captain’s seat
Ed Bastian, CEO of Delta Air Lines since 2016, speaks with our North America Chair and senior partner Eric Kutcher. After 25 years at Delta, including nearly a decade as CEO, Ed reflects on his journey leading the world’s largest airline by revenue—and America’s most recognized carrier, with more than 100,000 employees. The industry was hit hard by the pandemic, and he shares insights on what it takes to get through turbulent times, and keeping his people happy and invested in the company’s success. Ed also talks about leading with the vulnerability to say, “I don’t know,” and the confidence to say, “We’re going to figure it out”. We recorded their conversation before a live client audience at our Global Strategy Summit in September 2025 Related Insights A CEO For All Seasons: Mastering the Cycles of Leadership The Josh Harris playbook: building cultures of excellence in business and sports CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the RestThe Strategic CEO newsletterDoug Parker, former chairman and CEO of American Airlines, shares leadership lessonsJohn Stankey talks about leaning into the long term at AT&TSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information
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272. Clear signals in a world of noise: The strategic realities of a new era
Uncertainty often dominates the headlines, but it is possible to cut through the static to find clear signals in the global trends and demographic shifts shaping the next era of global competition. In this episode, senior partners Chris Bradley and Andy West share their latest research into the strategic realities of a new era: the shift from a unipolar to a multipolar world, rapid technological advancements, demographic changes, the productivity imperative, and the role of energy in shaping the future. Together, these insights can guide business leaders as they design and mobilize today’s strategic moves to thrive in the future. Andy West is the global coleader of our Strategy and Corporate Finance Practice and a senior partner based in our Boston office. Chris Bradley serves as a director of the McKinsey Global Institute and is a senior partner based in our Sydney Office. Related insights How Strategy Champions Win The great trade rearrangement The power of one: How standout firms grow national productivity The next big arenas of competition Dependency and depopulation? Confronting the consequences of a new demographic reality McKinsey Technology Trends Outlook 2025Support the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information
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.
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