Every company claims to be focused on the future, but not many truly are
. Some companies find early success with a breakthrough innovation, but then simply stop innovating and get left in the dust. It’s not just startups that need to be innovative — so do some of the biggest corporations on the planet.
It’s why Meta, the company that used to be known as Facebook, is placing a big bet on the metaverse as the key to its future profits and growth. That same pressure to find new products and new markets for future growth is also keeping executives awake at night at corporate giants like Amazon, Apple and Tesla.Article content
When I was chairman of Magna, because I was the controlling shareholder, our executives didn’t always have shareholders breathing down their necks to produce short-term profits. We could undertake certain business projects or developments knowing that they might not make a profit for a few years. We were also able to sit down and plan five, 10 or even 20 years down the line without the immense pressure that some firms face. That gave the company an enormous advantage.
Today, I’m still planning for the future. I’ve invested a significant amount of capital into two new businesses: one that specializes in organic agribusiness and another that is focused on electric micromobility transportation. I believe these are two of the fastest-growing economic trends in the world today.National PostFrank Stronach is the founder of Magna International Inc., one of Canada’s largest global companies, and an inductee in the Automotive Hall of Fame.
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