For managers and teams, this is an unhealthy rapport. Here’s how to stop rolling your eyes and start treating each other like full-fledged adults. Jennifer Jordan June 17, 2024 Reading Time: 11 min Carolyn Geason-Beissel/MIT SMR | Getty Images To prepare for an upcoming program with a global chemicals company, I conducted a series of interviews with the top managers and the people who reported to them. I heard a…
It was 1:30 p.m., and Andrew Murray, the general manager of the 22-room Doonmore Hotel, had not yet eaten breakfast. “It’s been one thing after another since I woke up,” he said. “You know, in this job there are an awful lot of moving parts.” The hotel perches on a cliff on this small island of about 170 permanent residents. It has a restaurant, a bar, and during a week…
This scenario is quite likely, especially if Russian troops are successful. There are prerequisites for success. The Russian army has clearly seized the initiative and is increasing pressure along the entire front line, expanding it in new directions. It is also important that the Russian proposals clearly look closer to current realities than the “Zelensky plan.” The fact that Vladimir Putin revealed the essence of proposals for security in Eurasia…
Credit unions in the United States are at a crossroads. Their membership ranks are aging, and young people don’t always see credit unions’ offerings as a good value. That means credit unions need to work harder to attract younger members, or risk fading into irrelevance. (For more details on credit unions—what are they exactly and who can join one—see sidebar, “A brief history of credit unions.”)US credit unions have had…
Failing to identify faults seems to be a prevalent issue nowadays, considering recent reports of quality control problems at Boeing and numerous recalls by car manufacturers, to name a few. Yet, excessive fault-finding occurs when the ability to pinpoint faults, which is a beneficial behaviour, is taken too far. This can become detrimental if not properly managed.Fault-finding happens when someone identifies and points out mistakes, flaws or problems, focusing on what is wrong rather…
Magazine Summer 2024 Issue Radar These research-backed tips can help you improve your prompting strategies for better results from large language models. Kaushik Viswanath June 10, 2024 Reading Time: 1 min Topics Data, AI, & Machine Learning AI & Machine Learning Radar Brief insights on emerging trends in management from the opening pages of MIT Sloan Management Review’s quarterly print magazine. More in this series subscribe-icon Subscribe Share Getty Images…
By Kristina M. Launey & Minh N. Vu Seyfarth Synopsis: Plaintiffs filed 2,794 website accessibility lawsuits in federal court in 2023 – a 14% decrease from 2022. After 2022’s record-setting year for website accessibility lawsuits filed in federal court, the 2023 filings dropped by 14%. The total number of lawsuits filed in federal court alleging that plaintiffs with a disability could not use websites because they were not designed to be accessible and/or…
The mere mention of “feedback” can make many people’s palms sweat. Whether giving or receiving feedback, it often has a reputation as negative and momentous. But it doesn’t need to be. Certainly, feedback can include constructive criticism, but it can also include gratitude and acknowledgments of positive actions. Similarly, feedback can happen during formal annual reviews and promotion discussions, but it isn’t limited to those situations. In fact, real-time feedback…
Jennifer Pahlka is the founder of Code for America, served as the United States government’s deputy chief technology officer, and is author of the book Recoding America: Why Government Is Failing in the Digital Age and How We Can Do Better. Jenn joins us to share her personal reflections of her time in government and the path forward. Michael Chui (co-host): Janet, on this podcast we have had a lot…
In this episode of Game Changers, join hosts Sophie Brazell-Ng and Stephanie Ho and Women In Change Director, Louise Robey as they discuss innovative strategies for building change capabilities within organisations.Whether you’re a seasoned professional or new to the field, this episode offers valuable insights into fostering a collaborative, adaptable, and forward-thinking workplace. Listen here or read on for an edited transcript. Sophie Brazell-Ng: Welcome today we are back in…
Getting a credit card these days is, for most people, no big deal. But it wasn’t always so easy or so common. In the 1950s and ’60s, credit cards were mainly used by wealthy people who wanted to pay for goods and services at department stores and restaurants without carrying cash. At the time, women could not get a credit card without a male cosigner. That began to change in…
1. The Ethical Matrix is based on a bioethical framework originally conceived by philosopher John Mepham for the sake of running ethical experiments. For a detailed presentation, see C. O’Neil and H. Gunn, “Near-Term Artificial Intelligence and the Ethical Matrix,” chap. 8 in “Ethics of Artificial Intelligence,” ed. S.M. Laio (New York: Oxford University Press, 2020). 2. C. O’Neil, H. Sargeant, and J. Appel, “Explainable Fairness in Regulatory Algorithmic Auditing,”…
About the Program Join us for the third installment of our DEI Webinar Series: "Developments and Strategies in the Current Landscape of DEI Programs." During this third installment, Seyfarth attorneys explore common DEI programs and practices, including the effects of recent cases and developments. The webinar examines the structure and logistics of these programs, as well as common challenges to implementation. Our experienced panel will analyze different types of DEI…
In this episode of McKinsey on Building Products, a podcast dedicated to the exploration of software product management and engineering, McKinsey partner Rikki Singh spoke to Scott Johnston, CEO of Docker. They discuss the importance of continual experimentation and adaptation in scaling platforms, the role of internal tools and infrastructure, and the process of building a sustainable, high-performing developer culture. This interview took place in September 2023 as part of…
A vine of green ivy growing from an aluminum sardine tin on a light blue background. Ever since the Industrial Revolution, we’ve consumed products in largely the same way. A company will extract or collect the resources to create a product, which consumers then buy, use, and ultimately throw away. This is known as a linear model of mass consumption. We know now that this model of consumption has contributed…
Magazine Summer 2024 Issue Machine learning solutions can miss the mark when data scientists don’t check their assumptions. Adopting a beginner’s mindset in any domain can help. Dusan Popovic, Shreyas Lakhtakia, Will Landecker, and Melissa Valentine June 11, 2024 Reading Time: 14 min Paul Garland In our collective decades of experience building, leading, and studying companies’ machine learning (ML) deployments, we have repeatedly seen projects fail because talented and well-resourced…
Brazilians have jumped into investing. A new wave of individual investors has emerged in the heart of Brazil’s bustling markets, ready to navigate the complex world of finance. The number has rocketed to around five million today from about 600,000 in 2017, according to Brazil’s stock exchange, B3 (for Brasil, Bolsa, Balcão). And those who are 25 to 39 – generally millennials – account for almost half of them. To…
McKinsey spoke with more than 5,000 travelers across geographies and generations as part of a recently published survey that reveals clear differences in behaviors, motivations, and expectations among a diverse set of tourists. On this episode of The McKinsey Podcast, McKinsey’s Margaux Constantin and Jasperina de Vries speak with editorial director Roberta Fusaro about data that can help travel and tourism companies tailor their offerings and realize more bookings, higher satisfaction, and,…
The development that OPEC+ will witness will depend in large part on the development of the global system during the coming period, and whether it is favourable or opposed to the grouping of oil-exporting countries. Within this development, the results of the Russian special operation in Ukraine will play a significant role. Russia’s victory in this war will play the role of assistant and accelerator of the transitional process that…
Topics Responsible AI The Responsible AI initiative looks at how organizations define and approach responsible AI practices, policies, and standards. Drawing on global executive surveys and smaller, curated expert panels, the program gathers perspectives from diverse sectors and geographies with the aim of delivering actionable insights on this nascent yet important focus area for leaders across industry. In collaboration with More in this series subscribe-icon Subscribe Share For the third…
One of the defining transformations of the 20th century was globalization. Since the end of World War II, countries and cultures have become more interconnected than ever before, through free trade agreements, technology, multi-national corporations, and the creation of structures such as the IMF and the World Trade Organization. Trade economists liked to think that the benefits of globalization—economic growth, more consumer choice, lower prices—had made it unassailable. But cracks…
In 2019, ahead of that year’s European elections, my colleague Guntram Wolff, at the time Bruegel’s director, and I edited a collection of essays written by our Fellows for the incoming European Union leadership. We urged the leadership to be bolder in their actions, to aim for greener policies and to safeguard EU cohesion. Now, in the run up to June’s European elections, it is clear is that the last…
It’s halfway through the year, and for some companies, the fiscal year is wrapping up, leaving them with an unexpected budget surplus. While it might be tempting to funnel these extra funds into new equipment or throw after-hours parties, there’s a more strategic opportunity at hand. Investing in initiatives that enhance workplace culture and address common workplace issues can yield long-term benefits. Determining how to spend your budget As…
Through most advances and innovations in enterprise technology, IT or technology services providers (also known as system integrators [SIs] or managed services providers [MSPs]) have, for the most part, been able to rely on one constant: their customers continuing to look outside their four walls for help stitching together and overseeing the ever-changing, complex web of hardware, software, networking, and storage products that drives their businesses. Now, enterprises are funneling…
It will be significantly easier to the Western world to gradually accept that its resources are finite than it will be for those who currently find the dominance of the United States and Europe unsatisfactory to establish new models of collaboration, writes Valdai Club Programme Director Timofei Bordachev. One of the most significant challenges that the global community of nations is currently facing in relation to the dismantling of the…
New challenges await payments providers, now that the pandemic-related surge in adoption of digital payments has leveled off. Among them are questions about how the technology and use cases are likely to develop. In this episode of Talking Banking Matters, payments industry expert and McKinsey partner Roshan Varadarajan talks with Tien-Tsin Huang, the J.P. Morgan equity research analyst who covers the payments sector. The following edited transcript shares highlights from…
Magazine Summer 2024 Issue Large language models can enhance data and analytics work by helping humans prepare data, improve models, and understand results. Pedro Amorim and João Alves June 11, 2024 Reading Time: 15 min Topics Data, AI, & Machine Learning AI & Machine Learning Paul Garland The glare of attention on generative AI threatens to overshadow advanced analytics. Companies pouring resources into much-hyped large language models (LLMs) such as…
In our conversations with customers and partners, two themes consistently emerge: the impact of AI at work and the challenge of successfully navigating flexible work. We see these challenges as related: adopting AI will enable the improved transformation of our workplaces. This transformation lies not just in adopting AI, but in fully leveraging its benefits. Investing in AI opens unparalleled opportunities for productivity, creativity, and growth, setting the stage for…
If you build something because you need it, chances are good others need it too. RevenueCat (YC S18) is an excellent example of this. While adding in-app subscriptions to an iOS application, RevenueCat’s co-founders realized they were spending a ton of time building out the behind-the-scenes plumbing. It was necessary work, but it meant way less time for the features they actually wanted to create. So they built a better…
In today’s tumultuous business landscape, where price volatility, geopolitical tensions, and sustainability imperatives converge, one function stands at the forefront of navigating these complexities: procurement. In this context, the procurement function will act as a strategic lever for value protection and creation. Procurement sits at the confluence of huge quantities of data, flowing from within the organization (for example, spend, demand patterns, specifications) and from without (suppliers, market insights databases,…
When Eyjafjallajökull erupted in 2010, it ejected roughly 250 million tonnes of volcanic ash into the atmosphere: much of which was blown over Europe and into flight paths. With planes grounded, millions of air passengers were left stranded.Forecasts of how ash will spread in the aftermath of an explosive eruption can help reduce impacts to aviation by informing decisions to shut down areas of airspace. But these forecasts require knowledge…
Howie and Harlan are joined by Anna Reisman, a physician and writer who leads Yale’s Program for Humanities in Medicine. They discuss the gaps in care she encountered when her developmentally disabled sister was diagnosed with cancer, and her work reviewing the “dude wall” of portraits at Yale Medical School. Harlan asks what we’ve gained from a new definition of long COVID; Howie provides an update on the spread of…
A process of reconfiguration is underway globally, with several power centres emerging that seek to gain greater autonomy, space, and protection for their interests. While this process has some negative aspects, such as increasing uncertainty and tension, it can also be seen as an opportunity for development. Some analysts, including experts from Russia, have identified positive aspects of this process, highlighting new possibilities for achieving greater equilibrium in international relations…
The 2024 UK General Election is set to shake-up many policy areas with defence, health and housing featuring heavily. Sprinkle in the main political parties pledging not to raise tax burdens and 35% of public spending going to the five largest departments, and that puts civil servants firmly at the heart of re-imagining how citizen outcomes can be realistically achieved post-4th July. This article outlines tactics for maintaining momentum on…
“How can we protect the privacy of our customers’ personal data while leveraging that data via AI and analytics?” This question reflects a growing internal dilemma as companies pursue advanced analytics and artificial intelligence.The troves of data that customers’ ever-more-digitalized lives produce can be a rich source of insight for organizations using advanced analytics tools. At the same time, this data is a deep source of concern to IT staffs…
Quick Hits A California appellate court found an employer’s arbitration agreement with an eyewear store employee to be unenforceable for being both procedurally and substantively unconscionable. The appellate court noted several issues with the arbitration agreement—including finding that it was a contract of adhesion—that placed it “high on the scale of substantive unconscionability.” Employers may want to scrutinize their arbitration agreements for provisions that may tip the scale in favor…
The Covid-19 pandemic saw many of us confined to our homes for an extended period. While it was a challenging experience, lots of people looked for the silver lining and took the opportunity to work on their homes and gardens. Unfortunately, there was an unintended consequence to this increased interest in DIY. According to the BBC, figures from the NHS show that in 2020/21, more than 5,600 people visited hospitals…
13 June 2024By Maarten G.A. DamanMany people appreciate privacy when paying, and want their data protected. Current electronic means of payment are not optimal in this regard. We are designing the digital euro to be the most private electronic payment option. The ECB Blog explains.Paying is a private affair for many people. The idea that tech companies, banks, governments or employers might track payments is not particularly appealing. Cash provides a…
There’s a race on to capture value from digital and AI, and consumer packaged goods (CPG) companies are in danger of falling behind both retailers and consumers. It’s not for lack of trying. Like most sectors, CPG companies have been on some form of digital and AI transformation journey. But most of them are stuck in the pilot purgatory stage characterized by plenty of subscale activity and little at-scale value.…
Generative AI (gen AI) is an advancement that has seized the attention of governments, the public, and business leaders. But it presents unique challenges to the professionals tasked with managing gen AI’s existing and potential threats. In this episode of the Inside the Strategy Room podcast, Ida Kristensen, coleader of McKinsey’s Risk & Resilience Practice, and Oliver Bevan, a leader of enterprise risk management, speak with Sean Brown, global director…