| McKinsey Quarterly | 1 |
| Finding opportunity amid turbulence | 3 |
| Table of contents | 5 |
| McKinsey Quarterly | 8 |
| McKinsey Quarterly staff | 8 |
| Contributing editors | 8 |
| McKinsey Publishing Board of Editors | 8 |
| Acknowledgments | 8 |
| Outlook The future of aviation in charts | 9 |
| Can we fight climate change–and still fly? | 10 |
| Global aviation can achieve net zero by 2050. | 10 |
| Not all planes are created equal | 12 |
| Aviation fuel 2.0 | 14 |
| Novel propulsion: Another flight path | 16 |
| On the cusp of a new era? | 18 |
| The world order | 20 |
| The world is becoming multipolar and proactive | 20 |
| Increasing multipolarity may support a trend toward realignment into regionally and ideologically aligned groups | 21 |
| Years of relative moderation in internal and international politics may give way to more political polarization, both internally and among blocs | 21 |
| Exhibit 1 The world may be transitioning to the next era. | 21 |
| Unresolved questions | 22 |
| Technology platforms | 22 |
| Key drivers of previous eras may slow in the coming years | 22 |
| A set of transversal technologies may shape the next era | 22 |
| Exhibit 2 Investment is flooding into 14 transversal technologies. | 23 |
| Technology may move to the forefront of geopolitical competition and power | 23 |
| Unresolved questions | 24 |
| Demographic forces | 24 |
| A young world will evolve into an aging, urban world | 24 |
| The age of communicable diseases may give way to an age of noncommunicable diseases | 25 |
| Inequality within countries may increasingly challenge the social fabric | 25 |
| Unresolved questions | 25 |
| Resource and energy systems | 26 |
| Spending will shift to replacing fossil fuels, but overall investment may struggle to keep pace with growing energy needs | 26 |
| Resilience, feasibility, and affordability concerns may challenge the velocity of the transition to net zero | 26 |
| Critical resources for the future economy may become increasingly important in economics and geopolitics | 27 |
| Exhibit 3 Investment in energy supply has stagnated, and more is needed. | 27 |
| Unresolved questions | 28 |
| Capitalization | 29 |
| Economic growth rates may normalize | 29 |
| Growing leverage and credit may evolve into balance sheet stress | 29 |
| The OECD century is giving way to the Asian century | 29 |
| Unresolved questions | 30 |
| How can leaders think about the road ahead? | 30 |
| A devilish duality How CEOs can square resilience with net-zero promises | 32 |
| Stormy weather | 34 |
| Energy availability and security | 35 |
| Affordability | 35 |
| Governance and regulation | 35 |
| Shaping a resilient sustainability strategy | 35 |
| Resilience today and value tomorrow: Five actions for CEOs | 38 |
| Accelerate capital deployment with a private equity mindset | 38 |
| Play offense through a sustainable value creation strategy | 38 |
| Go beyond net zero | 39 |
| Build the partnership and ecosystem muscle | 39 |
| Aggressively reskill leadership teams, boards, and frontline workers | 39 |
| Starting strong: Making your CEO transition a catalyst for renewal | 41 |
| Don’t make it about you | 43 |
| Listen, then act | 45 |
| Nail your firsts | 46 |
| Play big ball | 48 |
| The Quarterly Interview: Provocations to Ponder | 52 |
| ‘It’s important to bring the spirit of emergencies to the long term’ | 53 |
| The future of banks: A $20 trillion breakup opportunity | 60 |
| Banking is losing its traditional advantages | 62 |
| A full-fledged e-commerce bank: Kaspi Bank | 66 |
| Investment advisory | 66 |
| Complex financing | 66 |
| A multipronged approach: Royal Bank of Canada | 67 |
| Mass wholesale intermediation | 68 |
| Banking as a service | 68 |
| Commerce marketplace specialist: From WeChat to WeBank | 69 |
| An inside look at the biggest arena: Everyday banking | 70 |
| The impact of data and money regulation around the world is uncertain | 71 |
| The next phase of banking for incumbents, challengers, and the rest of us | 72 |
| Re:think Shifting to a new mindset for equitable business outcomes | 74 |
| How will the space economy change the world? | 76 |
| The benefits of the space economy—with more to come | 78 |
| Finally, a tipping point | 79 |
| More launches, lower costs | 79 |
| Smaller satellites, bigger gains | 80 |
| Greater investment, more innovation | 80 |
| New use cases and more momentum | 81 |
| Space-for-Earth applications | 81 |
| Space-for-space applications | 82 |
| A defining moment: How Europe’s CEOs can build resilience to grow in today’s economic maelstrom | 84 |
| Can leaders lift their companies to the next frontier of resilience—not only to survive but also to thrive? | 85 |
| A defining leadership moment | 86 |
| Exhibit 1 Economic scenarios plot potential impact of disruptions on the eurozone GDP growth path for 2022–25. | 86 |
| Exemplary moves | 87 |
| Why resilience matters: What still works and what doesn’t | 88 |
| Exhibit 2 Resilient companies play defense and offense simultaneously. | 89 |
| The next frontier of resilience | 90 |
| Response | 90 |
| Foresight: Moving beyond targeted responses | 91 |
| Exhibit 3 The key levers of a resilient response lie across six enterprise dimensions. | 91 |
| Adaptation: Not just surviving but thriving | 92 |
| From adaptation to growth | 93 |
| Every company is a software company: Six ‘must dos’ to succeed | 94 |
| Commit to a software culture | 96 |
| Leadership | 96 |
| Communication | 97 |
| Investment | 98 |
| Three ‘switch to software’ models | 98 |
| Invest in empowered product managers | 99 |
| Drive engineering excellence through autonomous teams and flexible architecture | 100 |
| Win at software by playing the ecosystem game | 101 |
| Joining an existing ecosystem | 101 |
| Building an internal ecosystem | 101 |
| Build a specific software go-to-market capability | 101 |
| Find and keep talent by focusing on mission and work environment | 102 |
| Re:think A more efficient food system can build global resilience | 104 |
| Reducing food loss: | 106 |
| Where and how does food get lost? | 108 |
| Exhibit 1 About half of global food loss and waste happens upstream, before products arrive at retailers’ stores or warehouses. | 109 |
| How companies can turn food loss into big wins | 110 |
| Exhibit 2 What typically happens to field-grown tomatoes meant to be sold fresh in developed countries? | 111 |
| Create transparency and set targets | 111 |
| Decide what to do—and do it | 112 |
| Is food loss the same as food waste? | 113 |
| Enable true and lasting change | 114 |
| The 125th anniversary of the little engine that couldn’t | 116 |
| A start-up gets its long head of steam | 117 |
| Taking a product perspective | 118 |
| Thinking in systems | 119 |
| Lessons for cars and the future | 120 |
| Dive in | 121 |
| Author Talks | 122 |
| Bill George on emotionally intelligent leaders | 122 |
| Dipo Faloyin on correcting the African narrative | 123 |
| Marina Nitze on navigating red tape with ease | 123 |
| Relevant reading | 124 |
| McKinsey Global Publishing | 128 |