Growing Your Business™

Risk Resilience: Reckoning with a New Era of Threats

Companies that pursue growth must take on risk. There's nothing new in that. Rather, what’s different now is the complexity and proximity of the risk landscape in what has become an increasingly interconnected world. Globalization, economic realignment, and rapid technological change are likely to drive volatility for years to come. Against this backdrop, private companies need to rethink their approach to risk so that shocks to the system won't derail corporate strategy and undermine growth.

Growing Your Business is published by the Private Company Services (PCS) practice of PwC. It discusses the opportunities and challenges that leaders of privately owned businesses face, suggesting ways they can make the most of both.

Innovation imperative: Keeping your company relevant

In today’s world of emerging technologies, emerging markets, and emerging consumer demands, companies must emerge too — out of old molds and into new ones — if they are to survive and thrive. For some companies, that means reinventing themselves. For others, it’s about seeking innovative ways to make their business newly relevant. Read about why 75% of US private companies are prioritizing innovation, with growth as their top objective.

• View infographic: Innovation spending: Private companies are getting more out of their innovation dollars
• View infographic: Innovation spending: Most companies will pursue some combination of incremental and break-through innovations

Emerging markets calling: Growth beyond the comfort zone

Businesses are going where demand is growing. That means venturing into new markets abroad — a move that doesn’t come naturally to all private companies yet may be more manageable than they think.

• Watch video: Look before you leap

Talent riddle: Where are the workers who will power growth?

Talent management on autopilot won’t take private companies where they need to go. To out-innovate their competitors and beat them to new markets they may need to replace old talent strategies with more creative ones.

Cyber security: Why you can’t afford to ignore it

Cyber criminals are increasingly targeting private companies in hopes of easy access. The cost to a business can be high, ranging from financial loss to reputational damage. With heightened awareness, private companies can fight back.

Succession planning: Delaying could cost you

A clearly communicated succession plan signals that the business is here to stay. Lack of a plan, on the other hand, may suggest an uncertain future for the business in an already uncertain economy. Early planning can nip that concern in the bud.