McKinsey’s Carolyn Dewar, Scott Keller, and Vik Malhotra chat with McKinsey Global Publishing leader Raju Narisetti about the global impact of their best-selling book, CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest (Scribner/Simon & Schuster, March 2022), and reflect on why the book is as relevant today as it was two years ago. An edited version of this third and final installment of our three-part…
Previous waves of technology have ushered in innovations that strengthened traditional organizational structure. Not so for generative AI and large language models. Ethan Mollick April 02, 2024 Reading Time: 11 min Topics Data, AI, & Machine Learning AI & Machine Learning Carolyn Geason-Beissel/MIT SMR | Getty Images Consider this an early eulogy for the traditional organizational structure, which began in 1855 with the first modern organizational chart and thrived, more…
We know managing privacy is harder than ever. The increasing complexity of regulatory requirements and constantly changing regulations make day-to-day privacy management a challenge. Manual, inefficient processes and inflexible tools can make it difficult for organizations to know where data is located and how it’s being used. The Microsoft Priva product portfolio helps organizations meet these challenges and their existing and emerging regulatory obligations. This week, we are thrilled to…
Absenteeism is so pervasive in Latin America and Asia that 10 percent of a business’ workers might not show up on any given day.This risk can create tremendous uncertainty, especially for businesses running on low margins, says Jorge Tamayo, an assistant professor at Harvard Business School. “You can’t control absenteeism, and you don’t know when you will receive an order for a very important buyer,” he says. “So how do…
From baby boomers to Gen Zers, the question of how the four generations comprising today’s workforce can best work together gets a lot of attention. Personal and professional experiences, levels of training, employer expectations, and career outlook can vary across generations. In nursing, tenure is a particularly nuanced factor that adds complexity to the discussion on workforce dynamics and may be one of the more definitive features of employee experience…
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BBy now it’s clear: AI will transform work for everyone. But some business leaders have moved to the front of the pack. In the past year, people in industries around the world have adopted Copilot for Microsoft 365, testing how it can revolutionize the way they work. The early results show Copilot users spend less time on mundane, energy-sapping tasks and more time on high-level, high-value work, allowing leaders to…
When Mark DesJardine was working on his Ph.D., in 2015, he studied a few of the organizations that certify lumber harvested from responsibly managed forests. As he dug into the details, he noticed a troubling pattern. A CFA charterholder, Tuck professor Mark DesJardine teaches the MBA elective Social Entrepreneurship. He is focused on issues related to strategy, sustainability, and finance, with a specific focus on shareholder activism. The independent, not-for-profit…
At a glance Macroeconomic challenges continued If 2022 was a tale of two halves, with robust fundraising and deal activity in the first six months followed by a slowdown in the second half, then 2023 might be considered a tale of one whole. Macroeconomic headwinds persisted throughout the year, with rising financing costs, and an uncertain growth outlook taking a toll on private markets. Full-year fundraising continued to decline from…
Located on the Cambridge Biomedical Campus – the largest bioscience ecosystem in Europe – the Institute brings together world-leading expertise from across diverse fields including biology, physics, mathematics, epidemiology, medicine, and computer science under one roof with one goal: to predict and prevent cancer.The donation will support the redevelopment of the Hutchison building, home to the Early Cancer Institute. This will enable the Institute to scale up its work, creating…
Any measure that hinders the supply of affordable energy to Europe, such as the continuation of sanctions or a premature withdrawal from long-term gas supply contracts, will cause massive damage to the European economy and set the EU back by years, if not decades, Ulrike Reisner writes. Pursued under the concept of the Green Deal, the energy transition has been one of the strongest and most damaging factors influencing the…
It is well documented that a sustained therapeutic relationship between a patient and a doctor is valued by both patients and doctors alike. Surveys also highlight the health benefits and improved management of health conditions for patients who have an ongoing therapeutic relationship with the same primary care physician, known as relational continuity. Yet, continuity is tricky in practice when the healthcare system is under strain. In the United Kingdom, as…
While global trade has risen dramatically since the 1990s and has continued to improve the lives of millions of people, geopolitical concerns have lately been rising too. Terms such as “reshoring” and “friendshoring” have seen increased use in corporate presentations by more than 20-fold in the past few years. For example, in recent years China’s share of US imported manufactured goods fell from 24 to 15 percent. The latest value-added…
Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images I recently interviewed 20 of my customers, all in senior roles at Fortune 100 companies, and asked them their biggest pain point in presenting to higher-ups and even colleagues. What I heard consistently was that it can feel like Goldilocks…
Quick Hits Georgia allows patients with specific health conditions to use low-THC oil-based products that may contain up to 5 percent THC; meanwhile, over-the-counter CBD oil is limited to a maximum of 0.3 percent THC. Georgia law does not limit the methods or means of drug testing available to employers, nor does Georgia law infringe on an employer’s ability to take adverse action against an employee who fails a drug…
Small and medium-sized businesses (SMBs) have tremendous vision and passion, and Copilot for Microsoft 365 can help turn dreams into reality. With Copilot for Microsoft 365, you can use the power of AI to reduce the daily grind of running your business—giving you additional time to reach more customers, create new products, and continue to grow your business. Copilot for Microsoft 365 is available for businesses of all sizes, and we recently announced…
A few years into his tenure in treasury at PepsiCo, Arun Nayar realized that to rise higher, he would need to supplement his financial expertise with operational know-how. To get that experience, he persuaded the company’s leaders to give him a lateral role overseeing finance in the global operations division, an area he knew nothing about.“When I went into those meetings, it was a different language,” he recalls. “That was…
This commentary originally appeared in Fortune. Having known the past six CEOs of Boeing personally across multiple corporate governance crises, my phone has been ringing off the hook since the abrupt announcement of a massive shakeup in Boeing’s leadership ranks, including the retirement of CEO Dave Calhoun at the end of the year, the replacement of Board Chair Larry Kellner, the immediate resignation of Boeing Commercial Airplanes CEO Stan Deal,…
Financial planning is likely to look different at different stages of your life. So, what matters most when you reach your 50s? Ed Read Cutting, our Director in Belgium, takes a look at some of the key areas to consider. As you approach your 50s, retirement planning takes centre stage. It’s a critical phase where thoughtful decisions can significantly impact your financial security and overall well-being during your later years.…
Competition of candidatesIt is worth clarifying that for Trump, issues of loyalty are extremely important and this feature will influence his choice of vice president along with the real strategic advantages of one of the candidates.Marjorie Taylor-Green, Mat Goetz, Byron DonaldsAll three are close to Trump ideologically, but do not appeal to the political centre and are even losing popularity in their own states. Trump already has an anti-rating (it is not his…
Amid seemingly never-ending layoffs and a laser focus on efficiency, companies are expecting their employees to make productive and focused use of their time on the clock. Yet, research has shown that employees often spend a significant amount of time cyberloafing – using the internet for personal purposes during work hours – with one study putting this figure as high as 60 to 80 percent.Remote and hybrid work arrangements and a significant…
In 1998, Netflix introduced its DVD delivery service, taking the video rental industry onto the web and simplifying the customer experience. Access to the Internet provided a new connection to the customer, streamlining video rental services through a more centralized distribution strategy and reducing the need for store front business models. Passed over by Blockbuster for acquisition, Netflix went on to roll out its streaming services nearly a decade later,…
New York – March 28, 2024 – Cooley has filed an amicus brief in the New York Court of Appeals on behalf of 47 corporate law professors in support of the continued application of the internal affairs doctrine. Lawyers Kathleen Hartnett, Patrick Hayden, Samantha Kirby, Alex Kasner, Amie Simmons and Madeleine McNally led the Cooley effort. The amicus brief was filed in Eccles v. Shamrock Capital Advisors, a case in…
‘The OHI is like an MRI,’ says McKinsey partner Bryan Hancock on this episode of McKinsey Talks Talent. He joins partner Brooke Weddle and global editorial director Lucia Rahilly to discuss McKinsey’s recently updated Organizational Health Index: how it works, what has changed, and why it’s still among the best predictors of whether your company will thrive over the long term.This transcript has been edited for clarity and length. The difference organizational…
The two-day AI and Physical Sciences for Climate Innovation Symposium will begin March 26.
Despite both the Cambridge Men and Women’s Blue Boats starting as underdogs, Cambridge emerged victorious in both races.In the 78th Women’s Race, despite Oxford taking an early lead, Cambridge caught up and then overtook Oxford. Oxford cox Joe Gellett raised an appeal at the end of the race, arguing that the Cambridge boat had crossed their path, but after a discussion with umpire Richard Phelps the appeal was dismissed. In…
San Francisco – March 29, 2024 – Cooley, alongside the American Civil Liberties Union (ACLU) and ACLU of Idaho, filed an amicus brief with the US Supreme Court on March 28 in Idaho and Moyle, et al. v. United States in support of allowing emergency abortion care to any patient who needs it. Lawyers Kathleen Hartnett and Patrick Hayden led the Cooley team. In August 2022, the Department of Justice…
As generative AI (gen AI) applications such as ChatGPT and Sora take the world by storm, demand for computational power is skyrocketing. The semiconductor industry finds itself approaching a new S-curve—and the pressing question for executives is whether the industry will be able to keep up. Leaders are responding by committing substantial capital expenditures to expand data centers and semiconductor fabrication plants (fabs) while concurrently exploring advancements in chip design,…
The SEC’s ambiguous rule could have a chilling effect both on decentralized finance and on the provision of liquidity to centralized crypto exchanges. By Jenny Cieplak, Marlon Q. Paz, Stephen P. Wink, and Naim Culhaci The Securities and Exchange Commission (SEC) adopted a new rule on February 6, 2024, further defining the phrase “as part of a regular business” — which is an integral part of what it means to be a “dealer” under securities laws.…
Quick Hits The AI Act’s risk-based approach subjects AI applications to four different levels of restrictions and requirements, including “unacceptable risk,” which are banned; “high risk”; “limited risk”; and “minimal risk.” The AI Act treats the use of AI in the workplace as potentially high-risk. The AI Act is expected to be published soon and go into effect in spring or early summer this year. While the AI Act does…
Executives’ latest views on the global economy and their countries’ economies lean much more positive than they did at the end of 2023. In the latest McKinsey Global Survey on economic conditions, the outlook on domestic conditions in most regions has become more hopeful, despite ongoing shared concerns about geopolitical instability and conflicts. In a year brimming with national elections, respondents increasingly see transitions of political leadership as a primary…
Updated March 29, 2024 – Joined by over 50 cybersecurity leaders, including 20+ new signers, Cooley filed an updated amicus brief that supports SolarWinds’ motion to dismiss the SEC’s amended complaint, which contains more than 50 pages of additional allegations against SolarWinds and its chief information security officer. The brief’s latest signers have served in senior cybersecurity roles at major companies, such as Bank of America, Capital One, Eptura, EY, IHS…
In this episode of McKinsey on Building Products, a podcast dedicated to the exploration of software product management and engineering, McKinsey senior partner Chandra Gnanasambandam and partner Rikki Singh sits down with Pali Bhat, chief product officer of Reddit. Bhat has been at the forefront of product innovation for several large technology platforms, including Google. During their conversation, Bhat and Gnanasambandam, and Singh discuss how to find untapped opportunities to…
Amidst ongoing concern surrounding AI risk, safety and ethics, a key question arises – how can we truly harness this powerful technology as a force for good? To answer this, our recent ‘What’s Next?’ event provided an invaluable forum. It’s time to look beyond the Artificial Intelligence (AI) hype Last year, as AI-mania took hold, thousands of .ai domain names were registered (a boon for the Anguillan economy) and every…
As a young girl growing up, the tech world seemed like a distant reality, predominantly occupied by men. It wasn’t until my older sister pursued a degree in informatics in college that I realized the potential for women in technology. This revelation was not just about inspiring young girls like me but about fostering an inclusive environment where companies thrive on diverse representation. Despite the so-called “glass ceiling,” my journey…
On March 28, 2024, the Valdai Club presented its new report, titled “Crafting National Interests: How Diplomatic Training Impacts Sovereignty”. The moderator was Andrey Sushentsov, programme director of the Club.Nikita Neklyudov, an expert at MGIMO University’s Institute for International Studies, noted that the report returns us to the discussion about what resources are in international politics. We are accustomed to talking about resources as something material, but it is diplomacy…
Connecting with others can feel like an art, but it’s also a science. In this edition of Author Talks, McKinsey Global Publishing’s Lucia Rahilly chats with Charles Duhigg, a New York Times best-selling author and writer for the New Yorker, about his new book, Supercommunicators: How to Unlock the Secret Language of Connection (Random House, February 2024). Duhigg reveals why meaningful connection can feel so elusive—and breaks down what you can…
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…
Making radical innovation a business realityA new era of technology that is led by AI and other advancements signals huge opportunities for radical and disruptive innovation. Existing markets are transforming and new markets are opening up. For business leaders, it can be difficult to know which path to take in an environment that is changing rapidly. Here, we introduce some concepts that are critical to developing commercially viable business models…
Fashion brands, big and small, have made ambitious, public commitments to creating more sustainable apparel by 2030. But keeping pace with their decarbonization commitments has been a challenge across the industry. About two-thirds of brands, according to a new McKinsey analysis, are behind on their own decarbonization schedules, and 40 percent have seen their emissions output increase since making their sustainability commitments. Today, the global fashion industry accounts for an…