COP28 in Dubai was a key milestone in global climate talks, convening nearly 200 countries for the first assessment since the Paris Agreement. Highlighting the urgency for action – with 2023 as the hottest year on record – it emphasised the need for united efforts amid complex negotiation challenges. At COP28, a “stocktake” review showed failures in reducing emissions and aiding developing countries. Talks to enhance climate action, such as…
Current global challenges are daunting. We’re not on track to reach the Sustainable Development Goals by 2030. In fact, the United Nations warns that we’ve entered an age of “polycrisis” in which increased conflicts, the climate emergency and widening economic and social disparities threaten our collective future. The public sector can’t address this sobering reality on its own. When well-planned and well-executed, public-private partnerships (PPPs) – where firms collaborate with public-sector entities such as government…
On 19 January 2024, André Terrail, owner and CEO of the legendary restaurant La Tour d’Argent in Paris, was a happy man. The sale of part of the tableware and elements of the historic décor of his establishment raised over €720,000 in just a few hours. What motivated people to obtain parts of a restaurant? Buyers aimed to acquire a piece of the magic the brand built over time through etiquette. Defined…
1. SwitchVanessa was a partner in an audit firm in Paris. At the age of 51, she decided to cease her professional activity. “I was getting old and realising it,” she says. She gave herself two years to organise her succession and slowed down, changing her occupation day by day. “Things had changed in my head; it had become difficult to stay at 100 percent,” she says, adding that she was…
Throughout history, leaders have been seduced by success, leading them down a path of hubris. This ancient Greek term, literally translating to "excess", describes a state of exaggerated self-belief andarrogance.An extreme example is Xerxes, king of the Persian Empire. Feeling invincible from past triumphs, Xerxes sought to conquer Greece. However, when a storm destroyed his bridge across the Hellespont, derailing his plans, he reacted outlandishly. Xerxes had the engineers who built…
Changes in the graph (Figure 2) may result from changes in the relative share of global GDP of a country (even if the democracy scores are constant) or from changes in the individual democracy scores (even if GDP shares are constant). For example, from the late 1970s to 1989, the western world was growing much faster than the Soviet Union, and because of this, the world democracy score weighted by…
For decades, the mantra “follow your passion” has been one of the most popular pieces of career advice. Ever since Steve Jobs famously told Stanford graduates back in 2005 to “find what you love”, university students have been nudged to pursue careers that align perfectly with their personal interests. But this approach can be misguided. For many of us who do not know exactly what we like or want to…
If your company is working on a new technology that has yet to pass this inflection point, what must happen to get you there?The evolution of new technologies follows an S-curve. In the beginning, there is a long incubation period during which technological development and use are confined to basic science. This period is characterised by high uncertainty about the technology’s performance and there is virtually no confidence in the…
It is broadly understood that bold, expansive postures and gestures convey power and credibility. But how often have executives entered a meeting confident in achieving their goal, only to leave blindsided – unsure of how the power dynamics shifted in favour of an opposing viewpoint? Most people assume that their actions are their own. However, our research would argue that it is the (often unconscious) responses to the behaviour of others…
A computer scientist by training, Rogers was involved in the creative industries from the early nineties, when he created the Beastie Boys’ website. He was later involved in Winamp and the launch of Apple Music, before working at luxury conglomerate LVMH as its Chief Digital Officer. He also sits on the board of fashion shopping website and app Lyst. During the webinar, Rogers shared that he first learned about Bitcoin back…
The last two years have been a period of history with a multiplicity of conflicts. While the world has of course experienced conflicts before, we have not witnessed this many clashes with such high complexity since the fall of communism. There are currently three sets of confrontations taking place in the Indo-Pacific region, which we can view as a triangle of conflicts in the periphery of Europe and Asia. Two…
Just as there is no yin without yang, there is no leadership without followership. The two interdependent and complementary roles cannot exist without each other. Followership is the symbiotic interchange between a leader and those they seek to influence. However, the word has long carried connotations of subservience, implying that followers are subordinates – a term derived from the Latin word for “lower order”. This notion is deeply misguided.Although the concept…
Being kind to others is great when it comes to personal relationships. But is it great in business? Regular readers of business publications would have noticed an uptick in discussions around the value of kindness in the workplace and how it can be practiced effectively. Kindness has also been increasingly emphasised across various industries such as oil and gas, fashion and beauty, consulting, security, marketing, agriculture and banking, to name a few. It seems that kindness has been elevated…
Business continues to play a critical role in society, according to the 2024 Edelman Trust Barometer. The survey, which polled more than 32,000 citizens across 28 countries, finds that business is the most trusted institution to integrate innovation into society. Business is also seen as more competent and ethical than governments, NGOs and the media. With this power comes responsibility – specifically, a responsibility to serve as a force for good.…
Mergers have become the norm in the telco sector recently. Far EasTone and Asia Pacific Telecom in Taiwan in 2022, True and DTAC in Thailand, as well as Celcom and Digi in Malaysia both in 2023. These represent a global shift towards an era of two-three players in each market, especially in Asia. Increased competition, the pressure for infrastructure investments and digital transformation are all driving this trend. Mergers promise extra…
When a firm’s performance falls short of aspirations, organisational changes can help stop the bleeding and get things back on track. Broadly speaking, firms have two strategic avenues to consider. The first is growth-related strategies to improve the firm’s position and performance, which could range from mergers and acquisitions to introducing new products and expanding factories. The second is corporate downsizing actions such as divesting from loss-making units, closing production facilities,…
There is often a gap between our good intentions and our actual behaviour – what we claim to do and how we act. Alarmingly, we're sometimes not even aware of the difference between what we think we're doing and what we're really doing. Aligning our actions with our intentions is challenging, as our unconscious mind can influence and even derail our behaviour and decision-making. While we may think our actions are…
The practice of asking candidates to disclose their last-drawn salary to prospective employers has long been one of the more contentious aspects of the hiring process. While this remains a common request across many countries, certain states in the United States – including California and New York – have made it illegal. The European Union Pay Transparency Directive, which was established in early 2023, also prohibits employers from inquiring about a candidate’s…
Actions tend to be judged based on some set of expectations, standards or thresholds. For example, managers may set sales targets that employees must achieve before getting a bonus; parents may establish ground rules that children need to abide by before rewarding or punishing them; and content moderators may let social media users commit a certain number of rule breaches before permanently banning them. These common associations between actions and…
The marketing landscape is undergoing a remarkable transformation, driven by the rapid expansion of the Internet of Things (IoT). In 2019, the estimated number of IoT-connected devices stood at 8.6 billion, but by 2030, this figure is projected to soar to 29.4 billion. This exponential growth is blurring the boundaries between products, services, data and software, heralding a significant shift in how marketing is perceived and executed. On September 21st,…
In January, Shopify deleted 12,000 recurring meetings from its staff’s calendars. The e-commerce firm also reinstated a no-meeting Wednesday policy. The idea wasn’t to prevent meetings from happening, but for staff to be intentional about them. In addition, it sent a clear message that it was OK to protect one’s time. When I ask managers what their biggest operational frustration in their job is, they typically say: “We have too…
The discussion around remote work — which has dominated news headlines, Slack conversations and water-cooler chats since countries relaxed their Covid-19 guidelines — is only getting more contentious. Many workers wish to continue working remotely in some capacity, while insisting that leaders’ productivity concerns are unfounded. However, some high-profile executives have been vocal about their opposition. Morgan Stanley CEO James Gorman declared that working remotely “is not an employee choice”.…
As growth decelerates in China and the economy slips into deflation, there are fears that the country may be heading towards a situation reminiscent of Japan in the early 1990s, a quagmire that could take decades to shake off. The question on everyone’s minds is whether Beijing will make the necessary tough calls to ease the Chinese economy through this critical phase. Or will fear of political instability and social…
Dealing with environmental change – be it unforeseen supply chain shocks, sudden fluctuations in demand or rapid developments in the competitive landscape – is par for the course for companies doing business today. For start-ups to grow and mature, they must find a way to successfully navigate the opportunities and risks presented by these dynamic conditions. Prior research has investigated how external changes to the business environment influence venture performance…
The world is getting bigger, quite literally. By 2035, just over half of humankind will be overweight or obese, with associated costs on the global economy. As complex and multifaceted a disease as obesity is, its link with socioeconomic status is clear: Obesity is more common among people of lower socioeconomic standing. In the United Kingdom, for example, obesity is nearly twice as common in the country’s most deprived regions…
The rapid advancement of artificial intelligence (AI) has resulted in its proliferation across various sectors – from consulting and banking to manufacturing and healthcare, to name just a few. Generative AI has become increasingly widespread and is set to be a game changer at all levels, with far-reaching repercussions for democracy, elections and armed conflict. It is therefore critical to assess its impact on democratic principles and institutions, as well…
History is filled with tales of courageous and decisive heroes. Individuals like Julius Caesar and Winston Churchill, for instance, have led from the front to guide their people through adversity and achieve ultimate success. This myth building is especially prominent in the business sector, with stories of inspiring CEOs parachuting in to rescue and revive troubled organisations. But is a strong leader who takes a centralised approach to company strategy…
In November 2022, the United Nations announcement that the global population had crossed the 8 billion mark brought out the usual fearmongering regarding overpopulation, food shortages and environmental destruction. But what if this is the last flourish for population increases and, 50 years from now, we’ll reminisce of countries and economies that once grew? The UN’s gargantuan figure does not paint a complete picture of current demographic trends, nor does it capture…
Nathalie made a living promoting fashion brands and products on social media. Initially, she found her work as an influencer liberating as it allowed her to express herself. However, over time, the responsibility and pressure that came with having her whole life displayed online took a toll on her physical and mental health. The constant need to churn out fresh, digital material for mass consumption, often by sharing intimate details…
In November 2022, the United Nations announcement that the global population had crossed the 8 billion mark brought out the usual fearmongering regarding overpopulation, food shortages and environmental destruction. But what if this is the last flourish for population increases and we will look back 50 years from now with fond memories of countries and economies that once grew? The UN’s gargantuan figure does not paint a complete picture of…
While ChatGPT falls short in this area, alternative approaches have come of age, mostly without people noticing. One of the earliest forms to hit the business scene was co-authored by John D.C. Little at MIT. Little developed algorithms that mimicked PhD econometricians in the way that they detect trends, variations and anomalies in vast data sets such as those generated by optical scanners at grocery stores. To make the intelligence…
Acknowledging despair and rebounding for the battle ahead The critical step occurs, or does not occur, precisely because we need to acknowledge that the solution is not to change nature, but to change ourselves. We need to adapt to the very problems that we have generated by believing that we were in control of nature. In this sense, “the solution” does not exist and recognising this is a challenge to…
The four factors run along different dimensions – short-term vs. long-term, individual vs. collective. However, they should be treated as interdependent parts of an integrated system and addressed holistically to ensure that a focus on one doesn’t undermine another. Take, for example, one of the most significant current demands from employees: the ability to work remotely. While some may be delighted by the opportunity to do their jobs from home…
In February 2023, two devastating earthquakes claimed more than 55,000 lives and affected over 10 million people in Turkey and Syria. Responding to this massive humanitarian crisis is everyone’s business – including private companies. Indeed, after the Turkey-Syria earthquakes, semiconductor technology company ASML matched employee donations made to Turkish NGO Ahbap, and IKEA donated funds through its IKEA Foundation, among other acts of generosity by corporate donors. Such post-disaster responses…
Today’s boards can no longer afford to solely prioritise shareholders and maintain an inward-focused approach to business. Instead, they need to consider stakeholders and the wider ecosystem that gives rise to complexities, challenges and also opportunities, said Sonia Tatar, executive director of the INSEAD Corporate Governance Centre (ICGC) at the recent INSEAD Directors Forum. Themed “Governance Complexities in Unprecedented Times”, the forum organised by the ICGC shone a light on the…
Much has been written about the negative impact of the food system on the health of the planet and people, from the harmful effect that intensive agricultural practices have on the natural environment to the looming global health crisis resulting from unhealthy eating habits. Many people believe that the food industry can do more to tackle the problems with food production, such as incentivising suppliers to adopt regenerative agricultural practices,…
Fashion, one of the most unsustainable industries on Earth, has long grappled with its damaging environmental and social impact. Consumers, on the other hand, tend to act like passive bystanders at a crime scene, placing the blame solely on brands and producers. While companies and executives face mounting pressure to adopt sustainable practices, consumers need to recognise that they are actively complicit in the very same crime. The evolution of…