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• Despite global GDP growth, net economic profit is shrinking. What’s going on?

  On Point

  Value-creating sectors and regions ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  TODAY’S NEWS. TOMORROW’S INSIGHTS. A daily newsletter from McKinsey & Company Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Corporate earnings cooldown In the news • Falling profits. After reaching historic highs in 2022, corporate earnings have taken a tumble. In the first three months of 2023, corporate profits for 500 of the biggest US companies dropped 6.8% on average. At the same time, inflation fell to 5% in March 2023, down from 6% the previous month, per the US Department of Labor. Supply chain imbalances related to the COVID-19 pandemic, the war in Ukraine, and labor shortages have led to soaring inflation and sales markups. [The Hill] • Squeezed margins. Corporate profits in the US dipped 2% lower in October through December 2022, the largest decline in two years, US government data showed. Rising costs of labor, transport, and raw materials have made it necessary for many companies to increase prices in the past year. The danger is that consistently higher prices might cause a widespread slowdown in consumer demand. Even as profit margins are squeezed, consumers are still spending for now, buoyed by a resilient labor market. [Bloomberg] Companies headquartered in regions outside of North America saw their shares of economic profit cut in half. On McKinsey.com • Dwindling profit pools. Since global GDP has grown impressively over the past two decades, one might expect that companies’ aggregate economic profit has been growing, too. Yet over the past two decades, companies’ economic profits have, in the aggregate, been shrinking, explain McKinsey senior partner Marc de Jong and coauthors. Global economic profit halved from 2005 to 2019 and then rebounded in 2021, an analysis of the world’s top 4,000 companies’ economic-profit pools reveals. • Some successful sectors. While the 2020–21 recovery was driven mostly by the energy and materials sectors, a sharp decline in those same sectors has led the longer-term trend of waning economic profit. Industries based in technology and intellectual property (such as advanced industries and media) expanded their profit pools. Telecommunications companies in every region, however, faced difficulties. Learn what companies can do about the crunch on global economic profit. See suggestions to create value — Edited by Belinda Yu, editor, Atlanta Now available to McKinsey.com subscribers: a new, immersive digital edition of McKinsey Quarterly. Sign up for a free membership to start reading today. Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:46 - 2 May 2023

• Ensure optimal tire pressure and temperature with TPMS

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  by "Jignesh Pardeshi" <official@uffizio.com> - 12:30 - 2 May 2023

• Register | Join Cotton On and Econsultancy: Creating experiences for new levels of connection and advocacy

  Adobe

  Aligning people, processes, and technology.

  Upcoming Webinar In conversation with Cotton On Keeping pace with content demands to create “wow” experiences Wednesday, 17 May 2023 3pm AEST | 1pm SGT | 10.30am IST Register now At the heart of every standout customer experience, there’s an emotional connection, with great content playing a pivotal role. But according to the latest Digital Trends 2023 research, just 26% of CX practitioners in APAC think their organization is good at delivering content in the first place. Join us for a fireside discussion on 17 May, with one of the fastest growing retail groups internationally — Cotton On. We'll learn why it's one of the exceptional few keeping pace with rising content volumes and complexity to create new levels of connection and advocacy. In this 40-minute session, we will explore: What’s critical to meeting customer expectations in the face of mounting content demands? What does it take to align people, processes, and technology to drive collaboration and to deliver 'wow' experiences? How to apply technology to ignite creativity and to empower the future of work and innovation? What are the outcomes of accelerating content and production times to increase speed to market? Register now Speakers   Rob Hede Head of Customer Experience Cotton On Brands   Jim Clark Research Director Econsultancy   Mike McHugh Senior Manager, Solution Consulting Adobe   Creativity for all.   Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. This is not a comprehensive list of all Adobe trademarks. For a full list, refer to the Adobe List of Trademarks. All other trademarks are the property of their respective owners. By clicking on some of the links in this email, you might be redirected to forms that will be pre-populated with your contact information. This is a marketing email from Adobe Systems Software Ireland Limited, 4‑6 Riverwalk, Citywest Business Park, Dublin 24, Ireland. Click here to unsubscribe or send an unsubscribe request to the postal address above. Please review the Adobe Privacy Policy: Australia New Zealand Indonesia Malaysia Philippines Vietnam Singapore India Hong Kong To ensure email delivery, add demand@info.adobe.com to your address book, contacts, or safe sender list. If you have a privacy-related complaint, send it to: privacy@adobe.com View in browser

  

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  by "Adobe Creative Cloud for Business" <demand@info.adobe.com> - 09:03 - 1 May 2023

• Hi

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  by "James Randel" <hello@digitalsurgeons.com> - 07:36 - 1 May 2023

• Attention

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  by "David Moussavou" <support@hostgai.com> - 11:29 - 1 May 2023

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  by "Sahil Singh" <doneseosmowork@gmail.com> - 11:28 - 1 May 2023

• A leader’s guide to instilling behavorial change

  Well behaved ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   ESSENTIALS FOR LEADERS AND THOSE THEY LEAD Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Your organization is lavishing time and money on ambitious corporate transformation programs. Yet none of them have made a dent in employee behaviors, which will need to change for the organizational transformation to succeed. To effect visible change, leaders may want to take a closer look at behavioral science (also known as behavioral economics or behavioral insights), which applies findings from psychology, economics, sociology, and other disciplines to understand how people behave and make decisions in real life. An aspect of behavioral science called “nudging”—using subtle interventions to steer people in a specific direction without limiting their options—has been successfully applied in both public- and private-sector settings. Here are some perspectives on the subject for leaders to think about. AN IDEA Turn information into action Most companies today have access to a wealth of data about their people and organizations but struggle to use it effectively. Metrics alone don’t tell the whole story: research led by McKinsey partner Davis Carlin and colleagues shows that a three-pronged behavioral-insights approach, which takes patterns of human behavior into account when analyzing raw data, may yield more tangible behavioral changes over time. An important aspect of this strategy is to formulate “end statements”—the questions that you want the data to answer—that are specific, exhaustive, and actionable. A company found that employees appreciated and valued its capability-building programs but were not necessarily changing their day-to-day behaviors as a result. Once the company formulated a clear end statement, it was able to gather information that enabled leaders to make better decisions about which obstacles they needed to remove to make the programs more effective. A BIG NUMBER 6 That’s the number of questions that any leader should ask before setting up a behavioral-science team—colloquially known as a “nudge unit”—to help people make better decisions, according to our research. A key issue to consider is whether the nudge team will focus on employees, customers, or both. It’s also critical to set up the unit for success—for example, by launching projects on a smaller scale before rolling them out across the entire company. “We grossly underestimated the challenge of implementing even seemingly simple innovations in large organizations,” a team leader told us. “We initially went after quite ambitious innovations, and then had to abandon them.” A QUOTE “Individuals’ desire for excessive coherence . . . prompts them to draw conclusions faster than they should.” That’s McKinsey partner Tim Koller and coauthors on one of the many cognitive biases that skew corporate decision making. “Important personal and professional choices are often subject to the halo effect, which is the tendency for individuals to make specific judgments based on overall impressions,” they say. They cite the case of a company that picked a favored candidate for CEO based on initial impressions of his good performance—only to be disappointed when the candidate did not fulfill expectations. Making conscious efforts to recognize and avoid biases can go a long way toward countering ingrained behaviors. And machines are just as prone to biases as humans—research shows a high prevalence of gender and racial stereotypes in AI algorithms. A SPOTLIGHT INTERVIEW More than a decade after academics Cass Sunstein and Richard Thaler introduced the concept of nudging to the corporate world, they have updated the idea in a revised version of their book, Nudge: The Final Edition (Penguin Books, August 2021). “The basic theory is similar, though I think we understand it better now than we did then,” says Sunstein in this conversation with McKinsey partner Julia Sperling-Magro. “We know that good nudges still make the chooser’s life better, and bad nudges don’t.” Technology enables good nudges: connectivity devices such as fitness bands and smartwatches “allow people to nudge more efficiently and effectively,” says Thaler. But look out for the increasing spread of “sludge,” which may be defined as “frictions or burdens or barriers that make it hard for you to get where you want to go,” Sunstein says. “It’s like a wall between people and something that can make their lives much better.” HEAVY-HANDED Is your nudge more like a shove? Any hint of aggressive “behavior modification” may meet with resistance from customers and employees alike. Nudge theory proponent Richard Thaler himself acknowledges the danger of “evil nudging,” including misleading claims and lack of transparency. Recent research questions whether nudging has any effect on behavior at all. Leaders may want to consider using a light touch in behavioral interventions, beginning with small changes that slowly shift habits by targeting one behavior at a time. Lead by nudging gently. — Edited by Rama Ramaswami, senior editor, New York Follow our thinking After nearly 60 years as a print magazine sent mostly to McKinsey’s clients, the McKinsey Quarterly is going digital—and bringing its groundbreaking management and leadership insights to you, a valued McKinsey.com subscriber. Sign up for a free membership to start reading. Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Leading Off newsletter. Manage subscriptions | Unsubscribe Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 01:18 - 1 May 2023

• The duties of the CEO have changed, so how you prepare for the role looks different too

  On Point

  Lessons from the McKinsey Leadership Forum ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  TODAY’S NEWS. TOMORROW’S INSIGHTS. A daily newsletter from McKinsey & Company Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Growing into a CEO In the news • Getting better feedback. During periods of uncertainty, soliciting feedback from direct reports may be the furthest thing from business leaders’ minds. But correcting mistakes makes it easier to adapt and pivot in response to changing conditions. It also makes teams feel trusted and supported. Having a go-to, open-ended question (such as “Is there one thing I can do to better support you?”), embracing the discomfort that comes with receiving criticism, and sharing with teams what actions bosses will take can go a long way to creating a trust-based culture. [HBR] • Turnover in the C-suite. Nearly 170 CEOs in the US left their jobs in February 2023, more than in any other month since early 2020, a Chicago-based executive outplacement business has found. At the same time, more women are filling these roles: in January and February 2023, a record 31% of newly appointed CEOs at American companies were women. Faced with economic uncertainty fueled by the COVID-19 pandemic, worker shortages, and the “Great Resignation,” companies may be looking for a new type of leader to manage ongoing transformations, one talent expert said. [Fast Company] It’s often said that being a CEO is the loneliest job—perhaps the second loneliest is being a CEO candidate. On McKinsey.com • Executive readiness. Nowadays, CEOs need to focus on more than the bottom line: they also need to consider employee health and well-being and the ability to manage through uncertainty. Since the role has evolved, so have the best ways to prepare for it. McKinsey senior partner Celia Huber and colleagues distill lessons learned from the McKinsey Leadership Forum, attended by about 300 C-suite leaders since 2006, with 88 participants becoming CEOs. These include how to measure CEO readiness against six key elements of the job, such as setting the company’s direction and engaging the board. • New path, new role. A natural byproduct of the CEO’s changing role is that there are now more pathways to becoming one. In addition, there’s a bigger emphasis on personal, emotional, and psychological preparation. Many CEO participants of the forum said that they thought they were ready for the job, only to realize that it demanded new expertise. “There were a lot of things that I didn’t know, so many things that I’d never worked on,” said one participant. Explore eight key lessons for help preparing for the CEO role or simply becoming a better leader. Prepare to lead — Edited by Gwyn Herbein, editor, Atlanta Now available to McKinsey.com subscribers: a new, immersive digital edition of McKinsey Quarterly. Sign up for a free membership to start reading today. Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:42 - 1 May 2023

• โอกาสดีที่สุดแห่งปี! เชิญท่านร่วมงานเทคโนโลยีอุตสาหกรรม ชไนเดอร์ อิเล็คทริค

  Schneider Electric

  อัพเดทข้อมูลและกิจกรรมล่าสุดที่นี่   ดูออนไลน์     Innovation Day: Industrial Solutions, Samut Prakan 2023   ชไนเดอร์ อิเล็คทริค ร่วมกับ กรมส่งเสริมอุตสาหกรรมและการนิคมอุตสาหกรรมแห่งประเทศไทย จัดงานเทคโนโลยีอุตสาหกรรม สำหรับกลุ่มโรงงาน เพิ่มประสิทธิภาพด้านการปฏิบัติการ ยกระดับโรงงาน ก้าวทันโลกดิจิทัล ไฮไลท์สำคัญ เร่งเครื่องยกระดับอุตสาหกรรมไทยไปสู่ยุค IIoT จากกรมส่งเสริมอุตสาหกรรมฯ กลยุทธ์การพัฒนาโครงสร้างพื้นฐานสำคัญในอุตสาหกรรม เพิ่มความปลอดภัย ความน่าเชื่อถือ ประสิทธิภาพ ความยั่งยืน ยกระดับภาคการผลิตในอุตสาหกรรม 4.0 ด้วยเทคโนโลยีอันสมัย การบริการด้านการจัดระบบไฟฟ้าเชิงรุก วิเคราะห์ คาดการณ์ ลดดาวน์ไทม์ ยุคดิจิทัล พิเศษ! สัมผัส Mobile Innovation Hub และลุ้นรับรางวัลฯ เฉพาะผู้ที่มาร่วมงาน   ลงทะเบียน       วันและเวลา   วันที่ 15 มิ.ย. 2566 เวลา 8:30-16:00 น.     สถานที่จัดกิจกรรม   ห้องธราดล แกรนด์ บอลรูม ชั้น 2 สนามกอล์ฟซัมมิทวินด์มิลล์ กอล์ฟคลับ จ.สมุทราปราการ       + Lifecycle Services   From energy and sustainability consulting to optimizing the life cycle of your assets, we have services to meet your business needs.     Schneider Electric 46 Rungrojthanakul Building. 1st, 10th, 11th Floor, Ratchadapisek Road. Huaykwang Bangkok - 10310, Thailand Phone +662 617 5555     ยกเลิกการเป็นสมาชิก  |   นโยบายความเป็นส่วนตัว     © 2023 Schneider Electric. All Rights Reserved. Schneider Electric is a trademark and the property of Schneider Electric SE, its subsidiaries and affiliated companies. All other trademarks are the property of their respective owners.

   

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  by "Schneider Electric" <reply@se.com> - 09:00 - 30 Apr 2023

• The week in charts

  The Week in Charts

  Completion rates in US higher education, clean-energy projects, and more ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   ALL THE WEEK’S DATA THAT’S FIT TO VISUALIZE Our McKinsey Chart of the Day series offers a daily chart that helps explain a changing world—as we strive toward sustainable and inclusive growth. In case you missed them, this week’s graphics explored completion rates in US higher education, the homelessness crisis in Los Angeles, investment in clean-energy projects, growth equity fundraising, and the space economy. FEATURED CHART A broken ladder? See more This week’s other select charts A complex crisis Investing in a sustainable future Fewer unicorn sightings A new space age Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to The Week in Charts newsletter. Manage subscriptions | Unsubscribe Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:33 - 29 Apr 2023

• Poet Maggie Smith on dealing with adversity and embracing possibility

  Readers & Leaders

  What now? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   THIS MONTH'S PAGE-TURNERS ON BUSINESS AND BEYOND Have you ever looked back on your life and asked yourself, “How did I get here?” In this edition of Readers & Leaders, poet Maggie Smith makes an argument for possibility after loss, former Apple VP Don Norman uncovers how humanity-centered design can change the world, and tech venture capitalists Freada Kapor Klein and Mitchell Kapor discuss how a bold experiment became a successful formula for closing gaps in access for vulnerable communities. Catch up on new conversations from Author Talks, plus this month’s top bestselling business books, prepared exclusively for McKinsey by Circana. Itching for more great reads? Preorder Rewired: The McKinsey Guide to Outcompeting in the Age of Digital and AI by McKinsey senior partners Eric Lamarre, Kate Smaje, and Rodney W. Zemmel for a playbook on what it takes to build the capabilities to continually create great customer experiences, lower costs, and build value. IT BEARS REPEATING “We all have disappointments. We all have relationships, whether personal or professional, that didn’t work out the way we wanted. We all have to reappraise things in life every now and then, and look around and think, “OK, this is where I’m at. Now, what do I want to do? What’s not really doing it for me right now? Where do I want to refocus energy?” Change is the only constant, and we’re all human beings, and we’re all dealing with that in various ways in our lives.” — Poet Maggie Smith in a recent edition of Author Talks. IN CASE YOU MISSED IT Former Apple VP Don Norman explains why leaders should take the “humanity-centered” approach: “Humanity-centered design builds on the principles of human-centered design, except it expands them. We must think about all living things and about the environment. We must realize we are part of a complex system, so what we do here can impact people all across the world and have a long effect.” Watch the full interview. Tech venture capitalists Freada Kapor Klein and Mitchell Kapor share how their equity-focused approach creates opportunity for vulnerable communities: “What they haven’t done is hold up a mirror and look at the ways in which they are merely reflecting their own biases.… For a long time, Silicon Valley venture capital firms have confused pedigree and privilege with merit. So you need a new yardstick.” Watch the full interview. LOOKING AHEAD Power to the Middle: Why Managers Hold the Keys to the Future of Work McKinsey partners Emily Field and Bryan Hancock and senior partner Bill Schaninger offer a new model for companies to radically alter the way they hire, train, and reward their most valuable asset: managers. Preorder now  Rewired: The McKinsey Guide to Outcompeting in the Age of Digital and AI Business leaders will be digitally transforming their companies for the rest of their careers. From McKinsey senior partners Eric Lamarre, Kate Smaje, and Rodney W. Zemmel, Rewired is the reference manual they need for the journey. Preorder now  BUSINESS BESTSELLERS TOP 8 National Library Week wraps up today, but your reading journey doesn’t have to. Check out this month’s list of business bestsellers in eight categories, prepared exclusively for McKinsey by Circana. Explore the full selection on McKinsey on Books. BUSINESS OVERALL Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA) BUSINESS HARDCOVER Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA) DECISION MAKING How Big Things Get Done: The Surprising Factors That Determine the Fate of Every Project, from Home Renovations to Space Exploration and Everything in Between by Bent Flyvbjerg and Dan Gardner (Random House) ECONOMICS The Power of Wonder: The Extraordinary Emotion That Will Change the Way You Live, Learn, and Lead by Monica C. Parker (Penguin Group USA) ORGANIZATIONAL BEHAVIOR Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA) WORKPLACE CULTURE Culture Rules: The Leader’s Guide to Creating the Ultimate Competitive Advantage by Mark Miller (Random House) DIVERSITY & INCLUSION Poverty, by America by Matthew Desmond (Random House) SUSTAINABILITY Net Positive: How Courageous Companies Thrive by Giving More Than They Take by Paul Polman and Andrew Winston (Two Rivers Distribution) BOOKMARK THIS Experience the digital McKinsey Quarterly The latest issue of our flagship publication, about transformation in a time of uncertainty, is now available as an immersive, online reading experience. Sign up for a free membership today. Start reading  Your latest McKinsey Crossword: Coming to a Head 17-Across: Car-crashing competition. Can you solve it? Play now If you’d like to propose a book or author for #McKAuthorTalks, please email us at Author_Talks@McKinsey.com. Due to the high volume of requests, we will respond only to those being considered. —Edited by Eleni Kostopoulos, a managing editor in McKinsey’s New York office Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Readers & Leaders newsletter. Manage subscriptions | Unsubscribe Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Readers & Leaders" <publishing@email.mckinsey.com> - 10:07 - 29 Apr 2023

• A new issue of the McKinsey Quarterly is here

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  Your guide during this time of uncertainty and transformation The newest issue of the McKinsey Quarterly examines how organizations are transforming themselves and their industries to reckon with this world of disruption. Explore our cover story to learn how multinational companies are navigating the current risks and opportunities in China—and don’t miss a discussion of the rise of chief transformation officers, a look into the future of mobility, and more.  This edition is available in a new, immersive online reading experience we’ve recently unveiled for our flagship publication. Sign up for a free digital Quarterly membership to access it. Start reading A membership to the digital edition of the McKinsey Quarterly also includes downloads of our top 100 reports in the McKinsey Insights Store as well as access to the previous digital issue of the Quarterly.  Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you signed up for a McKinsey Quarterly digital membership. Manage subscriptions | Unsubscribe me from McKinsey Quarterly digital membership Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey & Company" <publishing@email.mckinsey.com> - 07:24 - 29 Apr 2023

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• Ambitions for launching satellites are sky-high. Here’s how operators can prepare for liftoff.

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  TODAY’S NEWS. TOMORROW’S INSIGHTS. A daily newsletter from McKinsey & Company Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Satellite strivers In the news • Safely navigating space. With thousands of satellites orbiting Earth, these pricey instruments are often at risk of hurtling into one another. One study suggests that between 2017 and 2021, the number of times spacecraft passed within 1 kilometer of each other in low-Earth orbit—too close for comfort, in space terms—doubled from approximately 2,000 to 4,000. In response, a coalition of more than 30 space-related companies and organizations have released a document that proposes safety guidelines for satellite operators. Such a framework could help companies protect their assets and get a head start on potential future regulations from governments. [Axios] • Seeing farther into space. The growing number of satellites in space can interfere with scientific research being conducted by telescopes on the ground. However, some astronomers view the increasing space traffic as an opportunity rather than an eyesore. Satellite operators could partner with scientists to equip the orbiting machines with sensors that enhance research. Onboard gamma-ray detectors, for example, could help scientists better understand the behavior of dark energy. [NYT] The continued enthusiasm for commercial-satellite constellations is encouraging, but it often results in plans that exceed what operators can reasonably accomplish. On McKinsey.com • Launch ambitions. It’s an exciting time to be in the space business. Technological advances, cost reductions, and better access to capital have enabled commercial-satellite operators to create ambitious launch plans, McKinsey senior partner Ryan Brukardt and coauthors share. The number of announced satellite constellations—a group of satellites intended to work together as a system—is now more than 300, up from about 250 in mid-2019. Commercial satellites can be used for national security, climate monitoring, and authorizing credit-card transactions, among other applications. • An ongoing odyssey. Our updated analysis of satellite constellation deployments reveals that, despite growing interest in the sector and recent positive momentum behind launches, reality continues to lag behind expectations. For example, when it comes to announced constellations in recent years, about 45% of operators still haven’t launched a single satellite. Leading companies can stay a step ahead in the race to launch by creating data-backed plans that detail the potential for increased customer demand for satellite offerings, among other moves. Read the full article for more on boosting satellite businesses. See a reality check for satellites — Edited by Andrew Simon, senior editor, Seattle Now available to McKinsey.com subscribers: a new, immersive digital edition of McKinsey Quarterly. Sign up for a free membership to start reading today. Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:47 - 28 Apr 2023

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  by "Steve Walker" <info@topstarter.online> - 12:11 - 27 Apr 2023

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