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Global Economics Intelligence executive summary, February 2023
Harmony Internal - McKinsey
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by "McKinsey Global Institute" <publishing@email.mckinsey.com> - 10:27 - 20 Mar 2023 -
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A fine balance: A leader’s guide to ambition
Harmony Internal - McKinsey
by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:29 - 20 Mar 2023 -
COVID-19 is rewriting the rules of real estate. What should real estate players 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
• New needs. The COVID-19 pandemic upended where and how the world uses spaces. In some regions, office attendance is still dramatically lower than it was before the pandemic. Perhaps even more transformative than altered demand is the fact that occupiers have a new set of needs, reveal McKinsey senior partner Daniele Chiarella and colleagues. Hybrid work and omnichannel sales require that landlords supply creative physical designs, as well as innovative services and solutions.
— Edited by Belinda Yu, editor, Atlanta
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:27 - 20 Mar 2023 -
The quarter’s top themes
McKinsey&Company
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We hope you’ve been enjoying our quarterly curations of our most popular insights, and we’re excited to deliver even more of McKinsey’s best content to your inbox. Today, we introduce our top ten most popular McKinsey Themes of the quarter. We look forward to catching you up on the latest and greatest in the months ahead.
In the first quarter of 2023, our top ten posts from McKinsey Themes look at overcoming loneliness, the future of globalization, and more. At No. 1. is 5 takeaways from the World Economic Forum’s 2023 meeting, which features articles by chief marketing officer Tracy Francis and global co-leader of McKinsey Sustainability Daniel Pacthod. Read on for our full top 10.
2. How to set yourself up for healthy living in 2023
You’ll probably spend 20 to 30 years in mixed (at best) health and about a decade in awful health—where you can’t remember your children, use the bathroom independently, have sex, walk around the block, or use all five senses. Is this a reality you can accept? You don’t have to, write partner Tom Latkovic and associate partner Lars Hartenstein in a new article from the McKinsey Health Institute. Take care
3. Loneliness is bad for your health—here’s what to do about it
If you’ve been feeling socially isolated, you’re not alone. About 33 percent of people worldwide feel lonely. And loneliness doesn’t merely cause mental distress and discomfort—it can have implications on your physical health as well. Stay connected
Millions of customers are flocking to the early-stage metaverse. But is it really the next big thing or just another fad? The bottom line: With its potential to generate up to $5 trillion in value by 2030, the metaverse is too big for companies to ignore—and if CEOs don’t hop on the metaverse train, they risk being left at the station, write Homayoun Hatami, Eric Hazan, and Hamza Khan. Check out these 10 insights to understand both the opportunities and risks of what some are calling “the next iteration of the internet,” and then dive deeper with more insights in our special collection, McKinsey on the Metaverse. Catch up
The Federal Reserve on Wednesday announced another interest rate hike—albeit its smallest since last March—as it pushes to rein in prices. In the meantime, companies are still grappling with if and how they should adjust their pricing to offset continued inflation without jeopardizing future revenues. Adapt
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Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Top Ten" <publishing@email.mckinsey.com> - 03:33 - 19 Mar 2023 -
The week in charts
The Week in Charts
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:09 - 18 Mar 2023 -
Not all systems and data are created equal
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
Not all systems and data are created equal
Some systems and data are more important than others. Some are more exposed to risk. And some are more likely to be targeted by criminals. In a digitized world, it’s hard to protect everything equally well.
Different sectors of the economy have different critical assets. For hospitals, the most sensitive thing is typically information on patients. Aerospace companies must above all guard their intellectual property. Financial-services firms are vulnerable to fraudulent transactions, and their M&A databases need the best protection money can buy.
Most large companies now recognize the severity of cyberthreats. But they tend to treat these risks as a technical issue, not a business problem, so that the needs of the enterprise as a whole are often lost. To put those needs front and center, business units should collaborate with the cybersecurity, IT, and risk functions to determine which information assets are priorities for the entire company, how likely they are to be attacked, what should be done to protect them, and who the likeliest attackers might be. Likewise, any subsequent action should take place on a company-wide scale.
To learn more, read our classic 2017 article “Protecting your critical digital assets: Not all systems and data are created equal.”Learn how and what to protect 
Dispelling the mystery of zero-based budgets
ZBB can cut SG&A budgets by 10 to 25 percent, often within six months. Yet it remains a mystery for many executives.
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Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey & Company" <publishing@email.mckinsey.com> - 11:45 - 18 Mar 2023 -
These are volatile times. Can the world get on a path to long-term prosperity?
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
• Volatility and scenario planning. Volatility from macroeconomic and geopolitical factors has dominated the business environment lately. Yet at the outset of 2023, energy prices are off their peaks, inflation is no longer accelerating, and economic growth appears to be holding up. Is a fresh start possible? To help leaders set priorities, McKinsey has developed a wide range of macroeconomic scenarios for 2023 and beyond, explain McKinsey’s chair of insights and ecosystems and chair of the McKinsey Global Institute, Sven Smit, and coauthors.
— Edited by Belinda Yu, editor, Atlanta
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Copyright © 2023 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:08 - 16 Mar 2023 -
Company Insights: Artificial Intelligence
Company Insights: Artificial Intelligence 0.7.4
Dear MD Abul, Artificial intelligence is often viewed with skepticism when it comes to societal change. On the business side however, the technology boosts competitive advantages and innovation.
On March 30, Maike Schlumbohm, Director of Company Insights at Statista, will share crucial insights into the recent developments in artificial intelligence and its impact on companies. The 30-minute webinar will additionally focus on:- Market size and growth of artificial intelligence
- Generative AI market highlighting the current hype of ChatGPT
- Impact of artificial intelligence on companies and society
Statista GmbH, Johannes-Brahms-Platz 1, 20355 Hamburg
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by "Statista | Webinars" <webinars@statista.com> - 10:05 - 16 Mar 2023 -
6.6 billion smartphone users. Are you prepared to monitor that?
New Relic
Currently, there are more than 6.6 billion smartphone users in the world, roughly equivalent to 83.4% of the world’s population.
Smartphones have revolutionized the way companies advertise, communicate, and most importantly, interact with their consumers by way of mobile applications. And those consumers prefer using apps on iOS or Android devices. But it isn’t always easy to replicate a desired mobile application on another platform.
Developers need to keep up with the times and in our blog post, you can learn how to monitor your iOs and Android apps built with React Native.
Read more Need help? Let's get in touch. 
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by "New Relic" <emeamarketing@newrelic.com> - 06:36 - 16 Mar 2023 -
White Label Tire Management Software
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by "Sunny Thakur" <sunny.thakur@uffizio.com> - 01:30 - 16 Mar 2023 -
Can US students recover from pandemic-related learning delays?
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
• Close the gap. In the US, learning disruptions related to the COVID-19 pandemic have wiped out two decades of progress, and the clock is ticking toward a September 2024 deadline for states and school districts to spend $190 billion in federal funding to help students catch up. Analysis by McKinsey senior partner Jimmy Sarakatsannis and colleagues shows a range in the spending of those funds, from just under 20% to just more than 50%, placing some states and districts at risk of leaving funding on the table. By understanding the situation across districts and supporting recovery initiatives, states have an important role to play.
— Edited by Gwyn Herbein, editor, Atlanta
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:54 - 16 Mar 2023 -
Log Analytics at Scale — The Best Way to Troubleshoot Faster
Sumo Logic
Turn log data from foe to friend.
It has been said that "few things are as powerful, as frightening, as overwhelming and as important as data."
Learn more in our new guide Log analytics at scale that includes:
- Compare and contrast of log management and log analytics
- Use cases
- Benefits
- Best practices
- Recommendations to help your modern log solutions search
Learn more about Sumo Logic. The infinite power of log analytics.Sumo Logic, Level 9, 64 York Street, Sydney, NSW 2000
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by "Sumo Logic" <marketing-info@sumologic.com> - 09:00 - 15 Mar 2023 -
Why do some DEI initiatives work?
Re:think
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MAKING DEI WORK
Five ways to drive successful DEI initiatives
Diana EllsworthA lot of research tends to focus on the challenge side of diversity, equity, and inclusion (DEI): the manifestations and root causes of inequity. There’s been less research, however, on the solution side, on “What does it take to make progress on DEI?” So, in partnership with the World Economic Forum, we created the Global Parity Alliance, and looked for lighthouse examples of companies that had made progress, and to see if lessons from those companies can be applied elsewhere.
What we found is that there is a recipe, with five success factors as the key ingredients, for driving successful DEI initiatives—but that there is no recipe for which initiatives work best across the board. That’s because context is key. In fact, the first success factor is to gain a nuanced understanding of root causes.
Often, companies don’t approach DEI the same way they approach other aspects of business strategy. They often underinvest time and effort to deeply understand the problem they’re trying to solve. Instead, companies will launch initiatives because they saw, say, a mentorship program succeed somewhere else, and they say, “Let’s launch that here.” In a rush, often because of good intentions and an eagerness and desire to show employees that they’re “doing something,” companies might skip that step of really understanding exactly what the problem is that they’re trying to solve.
So while an early-career mentoring program for women sounds innately appealing, when you ask the company to really dig into its data, it may be that women are actually advancing just fine early in their careers. The problems are at other points along the pipeline. Perhaps sponsorship of midcareer women is more important, or perhaps the company should be looking to root out bias in the review process. The initiatives that are most successful are ones in which the companies spent the time up front to really understand, “What is the problem we’re trying to solve?” and “What are the root causes for why the needle is stuck?”
The second success factor, “a meaningful definition of success,” goes hand in hand with the first. The most successful initiatives understand both the problem they’re trying to solve and what success will look like once they’ve solved it. They have a real understanding of “Where are we today?” and “Why are we here?” and “Where are we trying to go?” This isn’t rocket science—these are the keys to attacking most business problems. But, again, many DEI initiatives don’t start with these basic business fundamentals.“Often, companies don’t approach DEI the same way they approach other aspects of business strategy.”
The third success factor is “accountable and invested business leaders.” Senior leadership’s commitment and accountability are necessary for a successful DEI initiative. And if the initiative requires changing a set of practices across the company, you’ll need a broader set of committed business leaders. Role modeling is important. This is a topic where a lot of people can be skeptical, and they need to see that leaders are personally making changes in line with the new way of working suggested by the initiative. Furthermore, leaders must be prepared to devote themselves, and the company’s resources, over time. Many successful DEI initiatives needed substantial time to get to the desired outcome. Some may not move the needle meaningfully for a year or more. But that time isn’t wasted. You’re laying the foundation to attack a complex problem that may have vexed the company for decades. And since these problems tend to be quite hard, it’s best not to try to tackle everything all at once. The “let a thousand flowers bloom” approach to DEI is a recipe for failure.
The fourth factor is “a solution designed for context.” Strong initiatives seek a fit-for-purpose solution. They build on a nuanced understanding of the starting place, the root causes, and a clear view of success, and they are strategically designed to address the issues. Sometimes this can mean launching a new effort or intervention, but often this means changing a variety of things that already exist, such as policies, processes, or learning and development programs.
The final success factor is “rigorous tracking and course correction.” Many companies don’t do this with DEI. For instance, they don’t define the specific leading indicators and ultimate outcomes that they hope the initiative will change—and thus, they don’t have the data to discuss if it’s working, how it might be improved, or if the results can be accelerated. It’s one thing to be able to cite the number of people who took part in an initiative, but it’s far more meaningful to be able to track details like “people who participated in the program were promoted twice as often as those who did not,” or “participants stayed with the company at a 40 percent higher rate.” Here, too, you need to be patient. There’s going to be a period of time where you see more progress on the leading indicators than you do on the ultimate outcomes that you’re trying to achieve. But if you stick with it and start to see a real ROI, it becomes easier to commit for the long run—and getting DEI right is definitely a project for the long run.ABOUT THE AUTHOR
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UP NEXTJen Henry on the restaurant industry
Restaurants are facing unprecedented challenges, including labor shortages and soaring ingredient costs. New ideas and technological innovations could help keep customers, employees, and owners well-fed.
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by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 03:11 - 15 Mar 2023 -
Here’s what the best CEOs do differently
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
New from McKinsey & Company
One year ago today, senior partners Carolyn Dewar, Scott Keller, and Vik Malhotra released their book CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest. Today, as leaders grapple with a lifetime’s worth of disruption and crises—including fraught global dynamics, mounting economic woes, and digital trends—the role of the chief executive is more crucial than ever. Check out these insights to dive into the mindsets that set the best leaders apart, and revisit learnings from the #CEOExcellenceBook, now on The New York Times and Wall Street Journal bestseller lists, for frank, in-depth interviews with 67 of the world’s best CEOs.
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To see more essential reading on topics that matter, visit McKinsey Themes.
— Edited by Eleni Kostopoulos, managing editor, New York
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by "McKinsey & Company" <publishing@email.mckinsey.com> - 12:44 - 15 Mar 2023 -
What is leadership?
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
• How effective leaders behave. Leaders enable groups of people to work together to accomplish what each couldn’t do individually. According to McKinsey analysis of academic literature and a survey of 189,000 people in 81 organizations around the world, four types of behavior account for 89% of leadership effectiveness. These are being supportive, operating with a strong orientation on results, seeking different perspectives, and solving problems effectively, explain McKinsey senior partner Ramesh Srinivasan and colleagues.
— Edited by Belinda Yu, editor, Atlanta
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:06 - 14 Mar 2023
