Around nine out of ten businesses believe they will have to make changes to their business model, or have already changed their business model in order to stay economically viable by 2023. Sixty-four percent of the respondents believe they need to build new digital business(es), and 21 percent believe they need to embed digital technologies in their current business model. Only 11 percent think their current business model will stay economically viable as it is through 2023.
Changes companies need to make for their business model to stay economically viable by 2023
Characteristic
Share of respondents
We need to build new digital business(es)
64%
We need to embed digital technologies in our current business model
21%
Not applicable; we have already made fundamental business-model changes
4%
Our current business model will remain economically viable without changes
C-level executives, senior managers, and business-unit, department, or division heads representing the full range of regions, industries, company sizes, and functional specialities
Method of interview
Online survey
Supplementary notes
Note: Respondents who answered "don't know" were not disclosed.
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McKinsey & Company. (May 26, 2021). Changes companies need to make for their business model to stay economically viable by 2023 [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/1248716/companies-digital-business-model-changes/
McKinsey & Company. "Changes companies need to make for their business model to stay economically viable by 2023." Chart. May 26, 2021. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/1248716/companies-digital-business-model-changes/
McKinsey & Company. (2021). Changes companies need to make for their business model to stay economically viable by 2023. Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/1248716/companies-digital-business-model-changes/
McKinsey & Company. "Changes Companies Need to Make for Their Business Model to Stay Economically Viable by 2023." Statista, Statista Inc., 26 May 2021, https://www.statista.com/statistics/1248716/companies-digital-business-model-changes/
McKinsey & Company, Changes companies need to make for their business model to stay economically viable by 2023 Statista, https://www.statista.com/statistics/1248716/companies-digital-business-model-changes/ (last visited October 31, 2024)
Changes companies need to make for their business model to stay economically viable by 2023 [Graph], McKinsey & Company, May 26, 2021. [Online]. Available: https://www.statista.com/statistics/1248716/companies-digital-business-model-changes/
