Lance Gokongwei Is Trying To Pandemic-Proof JG Summit, Here’s How
The 53-year-old CEO of JG Summit, the Philippines’ third-largest company by market cap, puts a positive spin on Covid-19 reality. The pandemic struck and forced him to navigate one of worst crises in the company’s 30-year history. Despite the turmoil, Lance and his five sisters still have a combined fortune of $4.1 billion, putting them as No. 4 on the Philippines’ 50 Richest list.
With the pace of change in the world accelerating around us, it can be hard to remember that the digital revolution is still in its early days. Massive changes have come about since the packet-switch network and the microprocessor were invented, nearly 50 years ago. A look at the rising rate of discovery in fundamental R&D and in practical engineering leaves little doubt that more upheaval is on the way. To gain a more precise understanding of the digitization challenge facing business today, McKinsey has been conducting an in-depth diagnostic survey of 150 companies around the world. By evaluating 18 practices related to digital strategy, capabilities, and culture, we have developed a single, simple metric for the digital maturity of a company—what might be called its Digital Quotient, or DQ