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Demand for shared mobility is surging. What are the trends to know?
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
— Edited by Belinda Yu, editor, Atlanta
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:25 - 6 Feb 2023 -
ห้ามพลาด! นวัตกรรมการบริการการจัดการระบบไฟฟ้าแห่งปี จากชไนเดอร์ อิเล็คทริค
Schneider Electric
ห้ามพลาด...พบกับงานใหญ่ของปี!ขอเชิญท่านลงทะเบียนร่วมงาน Innovation Day: Services in the age of IoT, Thailand 2023 พบกับนวัตกรรมการบริการด้านการจัดการระบบไฟฟ้าในยุคดิจิทัล พร้อมร่วมพูดคุยตรงกับผู้เชี่ยวชาญเฉพาะจาก ชไนเดอร์ อิเล็คทริค
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by "Schneider Electric" <reply@se.com> - 08:00 - 5 Feb 2023 -
Upcoming books and an emerging economy for the new year
Readers & Leaders
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THIS MONTH'S PAGE-TURNERS ON BUSINESS AND BEYOND
January may be over, but McKinsey is still busy sticking to its resolution of sustainable, inclusive growth. In this year’s first edition of Readers & Leaders, McKinsey senior partners Miklós Dietz and Venkat Atluri break down the multitrillion-dollar promise of the emerging ecosystem economy and lifelong economists discuss labor distribution and industrial policy with members of McKinsey Global Publishing.
Watch new Author Talks interviews, catch the highlights from Davos 2023, and check out this month’s top bestselling business books, prepared exclusively for McKinsey by NPD. Itching for more? Visit McKinsey on Books for the latest, and to get Readers & Leaders in your inbox monthly, click here to subscribe.IT BEARS REPEATING
“We are expecting that by 2035, around one-third of the global GDP—which would be more than half of the distribution part of the GDP—will actually be orchestrated by cross-industrial ecosystems. … The enormous valuation increase of cross-industrial companies, even after the recent correction, is very visible. Over the past two years, $8 trillion has moved into ecosystem players. The markets are assuming and expecting to see early moves to grab a large part of this future value, because in this new ecosystem, the magic is not market share anymore—it’s customer ownership.”
—Miklós Dietz, McKinsey senior partner and coauthor, with senior partner Venkat Atluri, of The Ecosystem Economy: How to Lead in the New Age of Sectors Without Borders (John Wiley & Sons), in a recent edition of Author Talks.IN CASE YOU MISSED IT
Lifelong labor economist Myra Strober shares the framework for making life’s hardest decisions from her popular Stanford course, Work and Family: “How to divide the work is a major issue in marriages. It depends on the kinds of jobs each of you have, the kinds of preferences each of you have, how many children you want, where you want to live, and how complicated your lives are. However, you can’t plan everything in advance. There’s an old Yiddish saying: ‘Man plans and God laughs.’” Watch the full interview.
Institutional economist Ha-Joon Chang tracks the evolution of industrial policy and democracy in a capitalist economy: “When I first started doing research on this as a graduate student in the late 1980s, industrial policy for many people was a four-letter word—it was something that you didn’t mention in polite company. Today, a lot of countries that used to denounce industrial policy are now very keen to do it.” Watch the full interview.MCKINSEY AT DAVOS
Decision makers gathered for the World Economic Forum’s annual meeting in Davos, Switzerland, last month to identify sustainable solutions to global issues. Revisit our Author Talks interviews on some of the key themes from #WEF23:
MORE ABOUT DAVOS
LOOKING AHEAD
BUSINESS BESTSELLERS TOP
8
BUSINESS OVERALL
BUSINESS HARDCOVER
DECISION MAKING
ECONOMICS
ORGANIZATIONAL BEHAVIOR
WORKPLACE CULTURE
DIVERSITY & INCLUSION
SUSTAINABILITY
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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.
—Curated by Molly Liebergall, editor, New York
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by "McKinsey Readers & Leaders" <publishing@email.mckinsey.com> - 07:10 - 5 Feb 2023 -
The week in charts
The Week in Charts
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:09 - 4 Feb 2023 -
Where does the world go from here?
Harmony Internal - McKinsey
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The first month of the new year is in the rearview, and we didn’t quite get the fresh start we were hoping for. Between geopolitical stress, climate change, and macroeconomic uncertainty—topics that were front and center at the World Economic Forum’s annual meeting in Davos—the business environment remains turbulent in 2023. Where does the world go from here? Our two featured stories this month attempt to provide some clarity. In a new article, senior partners Michael Birshan, Homayoun Hatami, Ida Kristensen, and coauthors offer potential scenarios to help business leaders set their top priorities and prosper in a 3 × 3 world where uncertainties are multiplied. And the McKinsey Global Institute’s Olivia White, Jonathan Woetzel, Sven Smit, and Jeongmin Seong assess the future of globalization as we know it—and outline why leaders must take a granular approach when deciding whether to double down, decouple, or diversify. Other highlights in this month’s issue include the following topics.
• why now is the time to choose a new innovation portfolio
• how leaders can make the most of tech
• five emerging HR operating-model archetypes
• the factors that suggest the metaverse is truly a CEO issue
Innovation: Your solution for weathering uncertainty
When the times get tough, the tough get innovative and create paths to future growth.
Discover fresh insights
New year’s resolutions for tech in 2023
McKinsey Technology leaders offer their insights on how business leaders can make the most of tech this year.
Lead in tech
HR’s new operating model
Interviews with more than 100 chief human resources officers and people leaders reveal how the HR operating model is changing to drive value in a volatile business environment.
Put people first
A CEO’s guide to the metaverse
It’s too big to ignore—yet its future is far from certain. Companies need to dip a toe in the water and plan to take the plunge should developments warrant.
Get a fresh start
Artificial intelligence in strategy
AI tools can help executives avoid biases in decisions, pull insights out of oceans of data, and make strategic choices more quickly. And that’s just the beginning.
Be deliberate
Diversity, Equity and Inclusion Lighthouses 2023
Leaders need clarity on what works to improve diversity, equity, and inclusion. Our 2023 report shows success factors that contributed to significant, quantifiable, scalable, and sustainable DEI impact.
Be accountable
McKinsey and the World Economic Forum 2023
As a strategic partner to the World Economic Forum, McKinsey engaged with Davos 2023 participants to identify impact-oriented solutions that can help contribute to a better world.
Explore the key themes
McKinsey Explainers
Find direct answers to complex questions, backed by McKinsey’s expert insights.
Learn more
McKinsey on Books
Explore this month’s best-selling business books prepared exclusively for McKinsey Publishing by NPD.
See the list
Charting the Path to the Next Normal
Our daily chart helps explain a changing world—as we strive for sustainable, inclusive growth.
Dive in
McKinsey Classics
Get the logic and the math right for a successful customer experience transformation program with “Linking the customer experience to value.”
Rewind
The Daily Read
Our must-read insights of the day, delivered to your inbox Monday through Friday—read a sample and sign up for it or any of our 40+ free email subscriptions.
Subscribe— Edited by Eleni Kostopoulos, managing editor, New York
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by "McKinsey Highlights" <publishing@email.mckinsey.com> - 11:27 - 4 Feb 2023 -
Investing in human capital, supporting Black economic mobility, understanding ESG, and more big reads for the weekend
Harmony Internal - McKinsey
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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
Get cozy this weekend as you catch up on this week’s big reads on prioritizing human capital, investing in Black economic mobility, digital and analytics in life sciences, and more.
QUOTE OF THE DAY
chart of the day
Ready to unwind?
— Edited by Joyce Yoo, editor, New York
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:37 - 3 Feb 2023 -
Performance through people: Transforming human capital into competitive advantage
Harmony Internal - McKinsey
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by "McKinsey Global Institute" <publishing@email.mckinsey.com> - 02:58 - 3 Feb 2023 -
What are some of the biggest disruptions to global food supply?
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• A global problem. Food insecurity, defined as the economic and social conditions that limit access to adequate food and leave people around the world hungry, has been on the rise for years. Global food insecurity rose to 30.4% globally in 2020, up from 22.6% in 2014, propelled by conflict, extreme climate variability, and economic slowdowns. Now, the war in Ukraine—one of the world’s six breadbasket regions—is threatening to tilt the food system into global crisis, reveal McKinsey senior partner Daniel Aminetzah and partner Nicolas Denis.
— Edited by Alexandra Mondalek, editor, New York
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:38 - 3 Feb 2023 -
How to get remote working right
Harmony Internal - McKinsey
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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
Hybrid and remote work have become the norm for many in recent years, but are these arrangements actually effective? Remote work makes people happier, and a well-organized hybrid environment can boost productivity, says Stanford economist Nicholas Bloom. In fact, having the option of working from home two days a week is as valuable as an 8 percent pay increase—“an enormous amount of money” according to Bloom. For a deep dive into remote work, including its history, how it has grown and evolved during the pandemic, and what practices can make working from home more effective going forward, tune into a conversation with Bloom and McKinsey Global Institute partner Michael Chui in a new episode of the Forward Thinking podcast.
Quote of the day
—Christi Shaw, CEO of Kite, a Gilead Company, on patient access of the company’s CAR T-cell therapies in “Steadfast but nimble: CEO Christi Shaw on cancer treatment’s cutting edge”
Chart of the day
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— Edited by Katherine Tam, editor, New York
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:31 - 2 Feb 2023 -
The CFO job has gotten more complex. How can leaders hit the ground running?
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• A big job. It’s a long climb to chief financial officer, and responsibilities look very different once you’re in the lead, explain McKinsey senior partner Michael Birshan and coauthors. CFOs have reported that they increasingly oversee digital initiatives alongside traditional tasks such as budgeting, planning, and risk mitigation. In addition, CFOs are responsible for the human element of a modern finance function, leading a large group of people and partnering with C-suite colleagues.
— Edited by Belinda Yu, editor, Atlanta
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:54 - 2 Feb 2023 -
Register Now | Make it is coming to Bangkok
Adobe
Creativity at Scale
Our flagship event is now back LIVE in Bangkok on 13 February! Join us in person to discover new ways of bringing creative ideas to life.
Creativity has never been more in demand; content velocity is the key to standing out from the crowd across every channel and platform.
It all hinges on having the right creative tools at your fingertips. Get your team powered up with the latest Adobe technologies and solve today’s creative challenges!
Explore new features, new tools, the latest workflow solutions to improve your business outcomes, and be the driving force for tomorrow’s creative workplace.Make it with Creative Cloud
13 February 2023
1230 – 1700 BKT, GMT+7Time Session 1230 - 1300 Arrival & Registration 1300 - 1315 Welcome & Keynote 1315 - 1345 Session 1: Ideate
• Ideate a new product launch
• Create design mood boards and themes and assign tasks1345 - 1400 Special guest sharing session 1400 - 1415 Tea Break 1415 - 1445 Session 2: Super powers
• Create video campaign asset for social
• Create hero images and graphics for campaign images1445 - 1515 Session 3: Speed & Ease
• Create virtual customer experiences
• Deliver display ads to social and online leveraging video, carousel and still images, links to AR1515 - 1530 Thank you and Close 1530 - 1700 Experience Centre & Networking Creativity for all.
Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners.
by "Adobe Creative Cloud for Business" <demand@info.adobe.com> - 10:02 - 1 Feb 2023 -
Better health among Middle Eastern employees can start with awareness
Harmony Internal - McKinsey
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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
Employees in the Middle East are feeling meh. In fall 2022, McKinsey Health Institute surveyed over four thousand employees from four Gulf countries—the United Arab Emirates, Saudi Arabia, Qatar, and Kuwait—on how they’re doing at work. The results were worrying: a majority of respondents reported experiencing both physical and mental health challenges. What’s more, symptoms of depression, anxiety, and distress were significantly higher in the Gulf than the global average. In a new report from the McKinsey Health Institute, partners Mona Hammami and Mischa Zielke and associate partners Ahmed Osman and Vanessa Schneider explore the implications of these results—and chart paths forward for Gulf governments looking to foster healthier, flourishing societies. Check it out to see what steps employers can take to invest in the health and well-being of their workforce.
Quote of the day
—McKinsey senior partner Bill Schaninger on workplace rituals in a recent episode of the McKinsey Talks Talent podcast
Chart of the day
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— Edited by Stephanie d’Arc Taylor, editor, Southern California
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:35 - 1 Feb 2023 -
The future of a post-hype metaverse
Re:think
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ON THE FUTURE OF THE METAVERSE
Why the metaverse still has mojo
Hamza KhanThe buzz surrounding the metaverse is a bit quieter now compared with this time a year ago. Global online searches for the term “metaverse” are down by about 90 percent compared with their peak a year ago. By some accounts, virtual real estate in the metaverse has dropped by about 80 percent in value from its high point, more than the decline in physical real estate during the same period. Some highly visible decentralized virtual worlds have entered the spotlight for having far fewer daily users than previously expected. Critics might say that the metaverse was merely a bubble, driven by hype and corporate marketing, that has now burst.
The way I look at it is that we’re past the peak of a first hype cycle where there is misalignment between reality and expectations. Indeed, 95 percent of the global executives we surveyed last year said—with unusual consensus for such a group—that they believe the metaverse will have a positive impact on their sectors within five to ten years.
There is still very real traction happening in the metaverse. There are large and growing virtual worlds with tens of millions of visitors, including Roblox, which recently announced that it has 58.8 million daily active users. There are also virtual worlds that are phasing in the technical capabilities to host many simultaneous users in one space, like when the open-world video game Sky: Children of the Light hosted a concert at the end of last year, with 4,000 people watching at the same time (and 1.6 million viewers in total). More metaverse applications are deploying augmented reality (AR) on people’s phones. And more use cases are emerging, including those in the rapidly maturing enterprise metaverse. That doesn’t mean this is the conclusive year where the potential of the metaverse is fully realized. But it’s useful to think of this year as moving forward beyond the novelty factor.“95 percent of the global executives we surveyed last year said they believe the metaverse will have a positive impact on their sectors within five to ten years.”
One reason people are more tempered about the metaverse right now is that it’s often conflated with technology shifts like Web3 and blockchain—and applications including cryptocurrency and nonfungible tokens (NFTs)—that are currently going through a down cycle. There are some clear areas of overlap, to be sure, but the metaverse is fundamentally different. We continue to believe in our consciously broad definition of the metaverse as the natural evolution of today’s internet—from something that we primarily observe to something that we are more deeply immersed in, whether it’s for gaming and digital entertainment, work, education, or other purposes.
This year, we are likely to see continued advancements in the technological underpinnings of the metaverse, across computing and networking. We will see a range of new immersive-reality hardware hitting the markets and price points starting to inch down. We expect more momentum around standards, including for file formats like USD (Universal Scene Description, a 3-D open standard) and glTF (graphics language transmission format). We may see improvements in content creation tools across the spectrum from platforms like Nvidia’s Omniverse, Niantic’s Lightship, or Blippar’s AR builder, Blippbuilder. We also hope to see more meaningful and compelling brand activations in the metaverse that focus on sustained and repeated user engagement, not just launch-day traction. Emerging standards and increased content creation may also swing the pendulum more toward the “open metaverse.”
Finally, I hope to see companies moving away from the novelty of the metaverse and focusing more on the sustainability and long-term ROI of their metaverse-related efforts. The question companies should be asking themselves is less: What can we do in the metaverse? The real question is more: What should we be doing in the metaverse to help grow our business and further our innovation strategy? If the metaverse is a new marketing and consumer engagement channel, performance should be assessed against other marketing channels. If it can enable new revenue streams for a company, it needs to be assessed against other growth initiatives. If it’s geared toward operational improvements, it needs to be assessed alongside other similar efforts. And if the assessment is encouraging, companies should start thinking about the capabilities they will need to scale and sustain business impact, including their talent and partnership management models.
Here’s one test that an organization can run when considering its next move in the metaverse: for any public announcement about a new metaverse-related initiative, see if you can draft it without using the word “metaverse.” That may be a good indicator of having identified real business value.ABOUT THE AUTHOR
MORE FROM THIS AUTHOR
UP NEXTKersten Heineke on shared mobility
Urban transportation is changing fast as consumers demand more flexible, sustainable ways to travel. New research highlights the rapid growth of shared mobility and how leaders can prepare for the big transitions ahead.
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by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 02:30 - 1 Feb 2023 -
No fluff. No filler. Plenty of opinions
No fluff. No filler. Plenty of opinions
Hey, you. You're doing great!
We just launched the opinionated guide to API management and wanted to share it with you. Find out what’s hot – and what’s not – on the API scene right now, according to (very opinionated) industry experts.
Totally free. No form to fill. No questions asked.
Get your hands on ten chapters of direct and actionable tips, tools and processes you need to help navigate the uncertain waters of 2023.
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by "Budhaditya Bhattacharya" <budha.b@tyk.io> - 09:59 - 1 Feb 2023 -
What is resilience in business?
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• Six key dimensions. There are six key dimensions business leaders should consider as they foster resilience in their organizations, explain McKinsey senior partner Andrew Grant and coauthors. One of them, reputational resilience, thrives on internal alignment around operating in geopolitically sensitive markets. As an example, many companies have chosen to stop doing business in Russia as a result of the war in Ukraine. See our new McKinsey Explainer for lessons in resilience from some of today’s top executives.
— Edited by Belinda Yu, editor, Atlanta
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:56 - 1 Feb 2023 -
Net zero: Next moves for CEOs
Harmony Internal - McKinsey
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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
Across the globe, leaders have committed to a net-zero future. But over the past year, the war in Ukraine threatened to upend access to affordable energy—and shot energy resilience to the top of the leadership agenda. What will it take to follow through on long-term decarbonization commitments while managing for short-term shocks? McKinsey’s Anna Moore and Humayun Tai talk through the steps CEOs can take now in a new episode of The McKinsey Podcast. Tune in and see what’s next on the path to a sustainable future.
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:39 - 31 Jan 2023 -
[Last Chance] Design-First API Contract Testing
SmartBear
Haven't made plans for February 1st yet? Good!
We are hosting a very special webinar announcing the official launch of the SwaggerHub + PactFlow integration
Hi Abul,
Are you lacking visibility of your APIs? For example, how they are used by consumers and whether the changes you make will result in an error in production?
Design-first API contract testing is a way to solve this and is made possible with the new SwaggerHub and PactFlow integration.
Join API experts at SmartBear as they go over:
- What design-first API contract testing and why you should consider it
- How to set up and use the SwaggerHub and PactFlow integration
- See a live demo of the integration in action
Molly Farmer
Growth Marketing Manager, SmartBear
by "Molly from SwaggerHub" <swaggerhub-team@smartbearmail.com> - 02:49 - 31 Jan 2023 -
Even nature has a breaking point. There are ways to make sure it’s never breached.
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• Unsafe space. The impact of human activity has pushed at least four boundaries beyond the safe operating space: biodiversity loss, chemical and plastic pollution, nutrient pollution, and greenhouse-gas emissions, McKinsey senior partners Daniel Aminetzah, Hamid Samandari, and their coauthors explain in a new report. Two others, forest cover loss and freshwater consumption, currently dwell in the “zone of uncertainty.” One particularly alarming statistic: the level of plastic emitted into water sources each year is currently 2.6 times higher than it was in 2010.
— Edited by Katy McLaughlin, senior editor, Southern California
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 01:16 - 31 Jan 2023 -
How ambidextrous leaders manage through volatile times
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We are living in a time when the world is grappling with constant uncertainty, with shocks such as inflation, the war in Ukraine, supply chain disruptions, the overhang from the pandemic, and many other forces amplifying one another. How can leaders navigate through this volatility and what’s the competitive edge needed to come out on top? In a new episode of Inside the Strategy Room podcast, McKinsey’s Michael Birshan and Ishaan Seth share the three types of edge leaders should develop to manage through these challenging times, discussing research from their recent article co-authored with McKinsey global managing partner Bob Sternfels. Tune in to see how you can become an ambidextrous leader.
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:43 - 30 Jan 2023 -
Just Released: 2023 Gartner iPaaS Magic Quadrant
Hi Md Abul,
The 2023 Gartner® Magic Quadrant™ for iPaaS has just been published, and we want to ensure you’re the first to get a copy so you can get insights into how enterprise architectures are evolving toward low-code automation platforms. You can read it right here.
Integration Platform as a Service is one of the most in-demand technologies to drive the business outcomes that equip organizations to connect tech stacks and automate business processes.
We’re proud to be named the sole Challenger in the report. Here are some highlights:
Customer experience - At 96%, we have one of the highest "Willingness to Recommend" ratings on Gartner Peer Insights.
- Market responsiveness - As iPaaS shifts from IT-centric tools to modern, low-code platforms, our capabilities let anyone in the organization - from line-of-business professionals to developers - automate with ease.
- Sales strategy - Our free, self-service trial offers a refreshingly different experience that lets you quickly learn about our solution and begin automating business processes right away.
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