It’s always been the case that we’ve needed to adapt during volatile times. But more recently it seems that volatility has become a permanent state of being - whether it’s driven by the climate crisis, geopolitical tensions or a global pandemic. 

While upheavals can be disruptive, the pressure to change the way we do things can also bring out the best in us. Benjamin Franklin was once accredited with saying “out of adversity comes opportunity”, so we could say with equal measure that volatility breeds innovation. 

A recent study by McKinsey found that business leaders believe 50 per cent of all revenue generated over the next three years is expected to come from products and services that are not in existence today. They put this down to significant technological change and increasing demand for sustainability credentials. If this turns out to be true, companies will need to innovate simply to survive.  

Our own research, in which we surveyed 450 European...