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Transitioning to a net-zero world with green businesses
Harmony Internal - McKinsey
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Edited by Joyce Yoo
Digital Editor, New York
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:33 - 4 Aug 2022 -
[Online workshop] Maximising Observability with New Relic Logs
New Relic One weaves all of your logs and events data into a single, comprehensive view to empower you to easily correlate log data with APM, infrastructure, and error data. Leverage Logs in Context where a trace and span ID is automatically applied to your Full Stack Observability content, enabling you to get to the root cause of problems quickly, without losing context switching between tools.Register for this free online workshop to get a comprehensive introduction to understanding and working with logs in New Relic. Explore the different ways to bring your log data to New Relic, the fast and easy to use UI, as well as how to parse, filter, or drop logs to match your needs.Register now 
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by "New Relic" <emeamarketing@newrelic.com> - 04:28 - 4 Aug 2022 -
Companies face talent gaps. How can apprenticeship deliver needed expertise?
On Point
Edited by Belinda Yu
Editor, Atlanta• Apprenticeship in action. Organizations are under pressure to develop and retain employees. More than 80% of companies say that they are either facing critical skills gaps or expect to face them within the next few years, previous McKinsey research has shown. By allowing workers to transfer expertise to colleagues, regardless of rank, apprenticeship can help employees rapidly build skills and increase collaboration at a time when more work is done remotely, say McKinsey’s Lisa Christensen and Tony Gambell.
• Everybody learns. Suppose a manager is reviewing a team member’s report. One opportunity for apprenticeship would be if, rather than rewriting the document, the manager explained the thinking behind each change. The team member would therefore become more capable, saving time in the long run. Expertise doesn’t always have to flow from the top down. Organizations can start with setting the expectation that everybody learns and everybody teaches. Discover the four techniques of apprenticeship.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:32 - 4 Aug 2022 -
Register Now | What’s New in Acrobat Pro Live Webinar
Adobe
Live Webinar
What’s New in Acrobat Pro
Tuesday, 16 August 2022 • 11am SGT
In our “work anywhere” world, your team needs access to their tools from any place, at any time. Advanced document capabilities are essential to both ensuring productivity with a hybrid workforce, and meeting customer expectations.
On Aug 16, join us for our What’s New in Acrobat Pro webinar. Our expert will take you through the highlights, walking you through significant enhancements on:- Guided demos and best practices on unlimited request signatures and bulk send capabilities
- Show you how to create, send, sign, track, and manage the document flows critical to key functions such as sales and HR.
- Learn how e-signatures smoothly integrate with Microsoft 365, enabling teams to work seamlessly within their existing software workflows.
From sales contracts to onboarding, IP to inventory, obtaining signatures efficiently and securely is critical for every part of an organization. When you use a comprehensive tool like Acrobat Sign — which has delivered an overall ROI of 519% and reduced e-signature costs by 25%* — every department wins.
Join us on Aug 16 to learn how this single trusted tool — which is part of the Adobe Document Cloud — can strengthen and unify your organization’s work.
* A commissioned Total Economic Impact™ study conducted by Forrester Consulting on behalf of Adobe, January, 2022.
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Rajesh Patil
Head - Territory & Channel Sales
Adobe
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by "Adobe" <demand@info.adobe.com> - 10:02 - 3 Aug 2022 -
Race in the workplace: The frontline experience
Harmony Internal - McKinsey
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Edited by Joyce Yoo
Digital Editor, New YorkFront line workers represent about 70 percent of the total US workforce and are the lifeblood of nearly all sectors of the economy from healthcare to transportation and logistics to foodservice. While their contributions are vital, the momentum around diversity, equity, and inclusion efforts in recent years have largely overlooked frontline employees, who are nearly 20 percent less likely than corporate employees to believe that DEI policies are effective. People of color, who represent a huge chunk of the frontline workforce, face even greater challenges moving up the ladder than their White counterparts. In a new report, Bryan Hancock, Monne Williams, Lareina Yee and their coauthors delve into the experiences of frontline workers of color and examine the issues they face, pathways to careers advancement, and the actions companies can take to improve job quality and better support them. Be sure to check it out and download the full report.
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—McKinsey senior partner Bill Schaninger on attracting employees back to in-person work in a recent episode of the McKinsey Talks Talent podcast
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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 Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:10 - 3 Aug 2022 -
Workers are resisting a return to the office. Can leaders make workplaces more magnetic?
On Point
Edited by Belinda Yu
Editor, Atlanta• Make it magnetic. Managers want employees back at the office, but many workers, hooked on flexibility, are resisting the return. With the average cost of having an office about $10,000 to $15,000 per person each year, stakes are high for rebooting the office, McKinsey senior partner Bill Schaninger and colleagues say. One way to make the workplace “really magnetic”? Have a community manager there that brings “a sense of surprise and delight” through, for example, buying hot chocolate for everyone on a cold day, says McKinsey’s Phil Kirschner.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:50 - 3 Aug 2022 -
Purpose, strategy, and culture: The why, the what, and the how
Harmony Internal - McKinsey
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Edited by Emily Adeyanju
Digital Editor, Charlotte
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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 Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:07 - 2 Aug 2022 -
Join me tomorrow to learn how to manage errors with New Relic
Hi MD
Phil Weber, senior technical training specialist at New Relic University, here. I'm checking in to invite you to the online workshop I'll host at 10 am BST tomorrow, 3 August: Error management in New Relic. The 90-minute hands-on workshop will walk you through the many ways New Relic can help you to manage errors in your applications.
Register for the workshop to learn how to configure and manage errors in APM, browser, and mobile applications. You will also learn how to use New Relic Errors Inbox to proactively detect, triage, and act on errors across your application stack, all in one place. While I recommend attending the live workshop, you can also register to be emailed the recording.
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Senior Technical Training Specialist
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by "Phil Weber, New Relic" <emeamarketing@newrelic.com> - 04:28 - 2 Aug 2022 -
Which attributes determine how well you perform?
On Point
Edited by Belinda Yu
Editor, Atlanta• Attributes, not skills. When faced with stress and uncertainty, who is the “real you” who shows up? How people perform in any given situation comes down to their attributes, not just skills, says retired Navy SEAL commander Rich Diviney. Characteristics like adaptability and situational awareness are innate to humans, but developing any attribute is possible. It takes placing yourself into environments that test that trait. To become more patient, go drive in traffic, or pick the longest line to wait in at the grocery store, Diviney suggests.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:36 - 2 Aug 2022 -
Closing the geographic gap in the US
Harmony Internal - McKinsey
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Edited by Joyce Yoo
Digital Editor, New YorkThere’s a huge economic divide based on geography in the US—cities are thriving but rural communities are struggling to recover from the 2008 recession and COVID-19 pandemic. While urban areas are benefiting from automation and globalization through the creation of millions of jobs—especially in technology—rural areas are experiencing population loss and a decline in entrepreneurship. Right now, rural America represents 13 percent of the nation’s workforce but only 5 percent of the computer and math jobs. What can be done to close the gap and invest in these communities? Be sure to tune into a recent episode of McKinsey’s Future of America podcast and join the conversation.
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—McKinsey associate partner Annie Valkova on how retailers can offer flexibility for frontline workers on a recent episode of the McKinsey on Consumer and Retail podcast
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:16 - 1 Aug 2022 -
Sangoma Webinar: PBXact Reports for Decision Making
Sangoma Webinar: PBXact Reports for Decision Making
Sangoma invites you for an exclusive webinar to take a tour of the call center reports that PBXact offers for decision making
Discussion Topics
In this webinar we will take a tour of the call center reports that PBXact offers for decision making, with practical use cases such as scheduling reports and how to view metrics that allow us to measure:
- Agent productivity
- SLAs of technical support areas
- Performance of call campaigns
Register Now for a live webinar on Aug 4th, at 2 pm IST
About the Speaker
Gurbir Gill
Director Sales Engineering
APAC/MEAFor any query please write to APAC Marketing
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1st Floor, Building No 6, Madangir , New Delhi 110062 , India | +91 11 4107 1214
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by "Sangoma Technologies" <webannounce@sangoma.com> - 05:46 - 1 Aug 2022 -
A leader’s guide to the new talent pool
Harmony Internal - McKinsey
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Edited by Rama Ramaswami
Senior Editor, New YorkIf you were marketing a brand, you’d spend considerable time and money on identifying and segmenting your customers and creating personas for various categories of buyers. The changing nature of today’s workforce demands a similar approach to “selling” potential candidates on your organization. People’s expectations of their employers, jobs, and career prospects are higher than ever before, but understanding the new talent pool is about more than offering flexible hours or personalized benefits. A better approach is to take a tip from successful marketers and segment your target audience—your employees—carefully. Defining the needs of different groups of people makes it easier to hire the right talent as well as ward off attrition. Here are some strategies to get started.
The pandemic has led many people to reassess their priorities and deal with employers on their own terms, turning the Great Attrition into the Great Renegotiation. But organizational talent strategies haven’t caught up—employers still rely on outdated compensation, titles, and advancement opportunities to lure candidates. In this article based on a McKinsey global survey, our experts identify five critical employee personas that leaders must understand to meet the challenge of hiring and retaining talent. For example, “traditionalists” are career-oriented people who are mostly satisfied with attractive pay, perks, and career advancement prospects, whereas “do-it-yourselfers” value autonomy, flexibility, and meaningful work as much as or more than compensation. Evaluating employee personas enables you to analyze what different segments of workers want and figure out how best to engage them.
That’s the average percentage of skills that come from work experience, which adds to the value of human capital—the collective knowledge, attributes, skills, experience, and health of the workforce. A McKinsey study of more than a million workers in the US, the UK, Germany, and India shows that the best organizations help individuals continuously upgrade their skills, earn more, and build track records that translate into value. The most effective way for workers to maximize the “experience effect” is to join an organization that recognizes their potential, embraces mobility—internal and external—and offers opportunities to learn.
“It’s the boldness of role moves that’s a really important part of the story of possibility,” says McKinsey partner Anu Madgavkar in this podcast on encouraging employees to try new things. “It’s important to enable more workers to break out of what they might have thought was their destiny simply because of the level of education that they had.” Employees who make bold role changes by taking on stretch jobs or assignments tend to have had exposure to healthy and supportive organizations early in their careers, enabling them to become upwardly mobile. While individual initiative is an important factor, the onus is “equally on employers to create the conditions that help and enable the whole process of learning through work experience,” Madgavkar says.
No time to create worker personas? Try writing a “user manual” about yourself, and encourage your team to do the same. The concept of a personal user manual—a document outlining the best way for others to work with you—caught on in the early 2000s when executives found that providing a quick-start guide to themselves, and encouraging their coworkers to follow suit, helped colleagues adapt to one another quickly and avoid conflicts on the job. Popularized in the media and adopted by some organizations, personal user manuals reveal individual quirks, habits, preferences, and working styles. For example, you might indicate that you favor early-morning meetings or prefer face-to-face contact rather than email. Beware, though, of revealing too much information, as oversharing in the workplace is never a good idea.
Lead with talent.
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:11 - 1 Aug 2022 -
How much debris exists in space? See the journey of space junk from the 1960s to today.
On Point
Edited by Katherine Tam
Project Manager, New York• Dangerous space junk. Around 11,000 satellites have entered space since the late 1950s, and there could soon be as many as 70,000, according to McKinsey’s Chris Daehnick and Jess Harrington. But what happens when the satellites no longer work? By that point, most are beyond Earth’s gravitational pull and end up stuck floating above the planet. Orbital debris, better known as space junk, can be incredibly dangerous. Today there are approximately 27,000 pieces of space junk in orbit, weighing in at roughly 9,000 metric tons.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:39 - 1 Aug 2022 -
Invite only - Design First or Code First?
Hey Abul,I would like to invite you and your team to an exclusive invite only webinar Wednesday 10th of August.
During this 30-minute exclusive webinar, you will learn the difference between a code first and design first approach as well as the how Swaggerhub supports and enables these approaches.
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by "Joshua McLatchie" <Joshua.McLatchie@smartbear.com> - 07:06 - 31 Jul 2022-
Re: Invite only - Design First or Code First?
Hey Abul,
Bumping this to the top of your inbox.
Did you get a chance to register for the API Design First vs Code First Masterclass?
Learn how to:-
Difference between a code-first and a design-first approach
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Value of a design-first approach with SwaggerHub
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Hey Abul,I would like to invite you and your team to an exclusive invite only webinar Wednesday 10th of August.
During this 30-minute exclusive webinar, you will learn the difference between a code first and design first approach as well as the how Swaggerhub supports and enables these approaches.
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by "Joshua McLatchie" <Joshua.McLatchie@smartbear.com> - 09:05 - 3 Aug 2022 -
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The week in charts
The Week in Charts
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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 © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:52 - 30 Jul 2022 -
The books you’re reading, before we share what we’re reading
Readers & Leaders
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THIS MONTH'S PAGE-TURNERS ON BUSINESS AND BEYOND
Last month, we asked for a glance at your bookshelves, and you delivered: a guide to giving away power, insights into the human mind, and more nonfiction reads. Check out our selection of your contributed picks, and keep an eye out for the main event in August: McKinsey’s annual summer reading list, featuring book recommendations from corporate leaders, media leaders, authors, and more.
In the meantime, catch up on this month’s Author Talks on the regenerative power of silence, the fast-growing longevity economy, and how to lead with collaboration rather than competition—plus this month’s bestselling business books, prepared exclusively for McKinsey by NPD BookScan. Itching for more good reads? Check out McKinsey on Books for the latest.SUMMER READING … ALMOST
Before we reveal our summer reading list, it’s time to reveal yours. Thank you to all our readers for taking the time to send in book recommendations. Here are five of our favorites.
Nudge: The Final Edition by Richard H. Thaler and Cass R. Sunstein
–R.N. (Boston, Massachusetts)
Thinking, Fast and Slow by Daniel Kahneman
–V.G. (Hesse, Germany)
CEO Excellence: The Six Mindsets that Distinguish the Best Leaders from the Rest by Carolyn Dewar, Scott Keller, and Vikram Malhotra
–C.P. (Los Angeles, California)
The Power of Fun: How to Feel Alive Again by Catherine Price
–K.E.K. (Oslo, Norway)
The Power of Giving Away Power: How the Best Leaders Learn to Let Go by Matthew Barzun
–J.B. (Bowling Green, Kentucky)IN CASE YOU MISSED IT
Justin Zorn and Leigh Marz seek solace in silence: “The world is louder than it’s ever been. It’s not just a little bit more auditory noise—there is a mass proliferation of mental stimulation in our world today.” Watch the full interview.
Susan Wilner Golden says companies that don’t market to the 60-plus crowd are missing out on a $22 trillion opportunity: “Traditionally, people always looked at aging as a frailty, or as a declining stage of life, but in fact, older adults are living much greater lives with longer health spans (the healthy periods of a person’s life), which enables them to be productive and to contribute to society.” Watch the full interview.
Dalia Feldheim brings the #LikeAGirl message to the corporate C-suite: “There’s no such thing as a masculine brain or a feminine brain; we all have within us both masculine traits and feminine traits. … The issue we’re seeing is that the business world is collapsing to what they call the ‘wounded masculine’—a world of competition over collaboration and power over people, versus power with people.” Watch the full interview.BUSINESS BESTSELLERS TOP
8
BUSINESS OVERALL
Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Avery Publishing Group)
BUSINESS HARDCOVER
Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Avery Publishing Group)
DECISION MAKING
ECONOMICS
ORGANIZATIONAL BEHAVIOR
Atomic Habits: An Easy & Proven Way To Build Good Habits & Break Bad Ones by James Clear (Penguin Group USA)
WORKPLACE CULTURE
Who Moved My Cheese?: An Amazing Way to Deal with Change in Your Work and in Your Life by Spencer Johnson (Penguin Group USA)
DIVERSITY & INCLUSION
Caste (Oprah’s Book Club): The Origins of Our Discontents by Isabel Wilkerson (Random House)
SUSTAINABILITY
Net Positive: How Courageous Companies Thrive by Giving More Than They Take by Paul Polman and Andrew Winston (Harvard Business Review Press)
BOOKMARK THIS
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 Molly Liebergall, a digial editor in McKinsey’s New York office
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by "McKinsey Readers & Leaders" <publishing@email.mckinsey.com> - 10:04 - 30 Jul 2022 -
SmartBus - Managing School Buses and Student Transport
SmartBus - Managing School Buses and Student Transport
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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 03:44 - 30 Jul 2022 -
US frontline retail workers, the outlook for COVID-19, and more essential reads: The Daily Read weekender
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CURATED PICKS FOR YOUR DOWNTIME, FROM OUR EDITORS
Joyce Yoo
Digital Editor, New YorkAs you head into the weekend, take a moment to get updated on this week’s big reads including frontline retail, the McKinsey COVID-19 Immunity Index, building resilience, and more:
Quote of the day
—Explore the five strategic moves online education providers can take in Demand for online education is growing. Are providers ready?
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ready to unwind?
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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 Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:56 - 29 Jul 2022 -
As inflation jumps, surveys show consumers are changing their behavior
The Shortlist
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Concerns about inflation are growing globally, as rising prices continue to exceed forecasts. In a recent McKinsey Global Survey on economic conditions, inflation topped the list of perceived economic hazards in respondents’ home countries. The United States and European nations have been particularly affected, while Asia overall is seeing less dramatic price increases (although inflation in India is running at about 7 percent).
How are consumers faring in this uncertain environment? In Europe, economic confidence is continuing to tumble, according to a McKinsey survey of European consumers. Rising prices have outpaced the invasion of Ukraine as the primary worry; across the continent, consumers hold a negative view of the state of the economy and of prospects for recovery. When asked to identify their number-one concern, 53 percent of European consumers cite price increases, up from 44 percent in an April survey.
Trading down. European consumers are buying items in smaller quantities or delaying their purchases. The number of consumers who say that they have changed their shopping behavior continues to grow, from 68 percent of respondents in April to almost three-quarters in June. Many are turning to private labels, discounters, or more affordable brands. The survey also revealed that most European respondents have no immediate plans to treat themselves. While there are small differences, these trends hold true across France, Germany, Italy, Spain, and the United Kingdom. Baby boomers are the most cautious in this regard, with only a quarter making plans to splurge. Gen Z is the only group where the majority of consumers intend to treat themselves with clothing purchases or eating out.
Confidence game. A McKinsey US Consumer Pulse Survey conducted this spring found that despite recent headlines of sky-high inflation, consumer spending and confidence remained surprisingly strong. American consumers also expressed more confidence than those in any of the 14 countries McKinsey surveyed. Yet higher prices were driving some consumers to spend differently, with about a third switching to private labels. Since then, consumer confidence has plunged, with July numbers showing a key index at its lowest levels since early 2021.
Level-headed. McKinsey’s experts have examined many of the strategic implications of inflation, including offering seven charts that illustrate its worst effects. Rising prices have, at a minimum, altered the economic mood in many countries and could reset the global growth trajectory for years to come. For consumers and companies alike, preparing for an inflationary period (or a broader economic downturn) can help mitigate some of its worse effects. In a new article, McKinsey’s North America managing partner, Asutosh Padhi, and his coauthors discuss how US companies can build resilience and thrive in the next cycle.OFF THE CHARTS
While industries with numerous tech-savvy and digital-native companies, such as e-commerce and education, have shifted a significant portion of their IT workloads to the cloud, others have not—notably, the labor-intensive industrial and manufacturing sectors, which contribute more than a quarter of China’s GDP. But that could change quickly as the government focuses on boosting digitization and productivity in both industries.
PODCAST
Corporate attrition persists, but one way to win employees back is to develop their knowledge, attributes, and experiences—in short, their human capital. But how can companies determine what’s best for employees? And how much value can greater internal mobility among workers create? McKinsey partners Anu Madgavkar and Bill Schaninger, coauthors of the recent report Human capital at work: The value of experience, answer these questions and more in this edition of The McKinsey Podcast.
More on McKinsey.com
The dawn of a new biomedical R&D era | Science and technology are driving breakthroughs at each stage of the biomedical R&D value chain. These advances could soon be harnessed to design precise therapies to treat and prevent countless diseases at a much more rapid clip.
Five ways to increase your board’s long-term impact | Directors are spending more time on their work, yet few say that their boards are better at creating long-term value. Survey data highlight the operating models that correlate most with value creation.
The beauty battleground: The sprint to win on services | Beauty companies looking to capitalize on fast-evolving trends should act on the growing convergence of brands that offer beauty products and brands that offer services.
INTERVIEW
Three questions for
Andrés Rodríguez-Pose
Andrés Rodríguez-Pose, a professor of economic geography at the London School of Economics, focuses on regional growth and inequality, innovation, migration, and development strategies. The following is an excerpt from a recent edition of the McKinsey Global Institute’s Forward Thinking podcast.
What factors make a particular place successful?
There is no single factor that makes a place dynamic. Things that make a city or region dynamic today may not make it dynamic in a few years’ time. Most of my friends in urban economics would tend to say that big cities are typically successful places. That combination of agglomeration and density in big cities has made them highly dynamic throughout history.
But cities have come and gone, and they have periods of high growth and low growth. London, for example, has been very prosperous and, especially over the last quarter of a century, very dynamic. However, that has not always been the case. From the 1930s until the mid-1990s, it had a worse economic performance than the rest of the UK.
Cities and regions have to reinvent themselves constantly. To do that, they have to have the right human capital, the right accessibility, and the right infrastructure that can also adapt to different conditions. Having the right institutions is crucial: weak institutions will prevent talent and innovative capacity from emerging.Many countries have opted for devolution or decentralized administration as a way to shore up regions that are lagging behind. How effective is that trend?
When we look at the returns of devolution across the world, especially in terms of economic growth and employment generation, it’s not that decentralized governments have been far more successful than centralized governments.
In fact, in many parts of the world, and especially in parts of the developing world, decentralization has been an outright disaster. Not because decentralization, per se, is bad. Decentralization can deliver far greater returns because it matches policies to the needs of people that might vary.
The main problem with decentralization is that it’s normally done at the wrong time and with the wrong methods. Most countries decentralize in periods of political and economic crisis. Meaning that it’s done top down, without strong demand or strong capacity by local governments. Often, central governments are reluctant to transfer resources. As a result, we end up with what is known as unfunded mandates—limited resources for the number of tasks that local governments have to do. Therefore, they end up doing them not particularly well.You’ve written compellingly about ‘the revenge of the places that don’t matter.’ What do you mean by that?
Everything is intertwined. So when you have economic problems, they sooner or later become serious political problems. We’re seeing this trend in the developed world and in many parts of the emerging world.
Let’s take France as an example. Over the last quarter of a century, only the region of Paris has grown above the national average. That means that all other regions have grown below the national average. That is a phenomenal process of economic polarization in a country that remains highly prosperous.
In China, economic polarization increased rapidly in the second half of the 1980s and throughout the 1990s, with very rapidly growing coastal areas and big cities around the coast, and a much less dynamic inland. What did the Chinese government do? It tried to promote development inland with more active policies, including by developing infrastructure and investing strategically in research facilities inland to improve the quality of education and training.
We need to have dynamic big cities, dynamic medium-size cities, and dynamic small cities, towns, and rural areas. Because when we have that, we maximize talent and innovation and help to minimize the polarization that leads to political tension.Tell us what you think Share these insights
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When it comes to health, what matters most to people around the world?
On Point
Edited by Belinda Yu
Editor, Atlanta• Beyond physical health. “Health” is often thought of in physical terms. In fact, about 75% of health studies focus on physical health while excluding other critical aspects of health. But individuals around the world define health much more broadly, reveal McKinsey senior partner Martin Dewhurst and colleagues. A new survey finds that about 85% of respondents in 19 countries rank mental and physical health as either very or extremely important, while 70% and 62%, respectively, say the same about social and spiritual health.
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 01:34 - 29 Jul 2022
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