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ICYMI: The Women of McKinsey
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It’s a wrap on Women’s History Month, but the work continues Brought to you by Liz Hilton Segel & Homayoun Hatami
Global leaders, Industry & Capabilities PracticesNew from McKinsey & Company
— Edited by Eleni Kostopoulos, managing editor, New York
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by "McKinsey & Company" <publishing@email.mckinsey.com> - 05:09 - 1 Apr 2023 -
The week in charts
The Week in Charts
EV battery emissions, slowing inflation in food prices, and more Share these insights
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:15 - 1 Apr 2023 -
How top CEOs are navigating disruption
Harmony Internal - McKinsey
Plus, the state of private markets Senior partners Carolyn Dewar, Scott Keller, and Vikram Malhotra, authors of CEO Excellence, along with senior partner Kurt Strovink, asked the world’s top-performing CEOs which trends will have the biggest impact on how they lead their business in 2023 compared with past years. Their answers suggest that three “true signals” are most important: digital disruption, the economy, and geopolitics. This month’s first featured story looks at the specific and pragmatic actions CEOs are taking as a result of these signals. Our second featured story offers advice for senior executives looking to ascend to the CEO role. Other highlights in this month’s issue include the following topics:
• the state of global private markets in 2023
• how a company can chart a path to building a superpower
• how generative AI can help fashion businesses
• how organizations can better support their managers to deliver more value
McKinsey Global Private Markets Review 2023: Private markets turn down the volume
According to our latest Global Private Markets Review, private markets faced a year of two halves in 2022, with buoyancy in the first half and plummeting deal volumes, declining performance, and falling valuations in the second.
Download the full reportWhat’s your superpower? How companies can build an institutional capability to achieve competitive advantage
One capability often sets leading companies apart from the rest. Here’s how to build yours.
Find out nowGenerative AI: Unlocking the future of fashion
While still nascent, generative AI has the potential to help fashion businesses become more productive, get to market faster, and serve customers better. The time to explore the technology is now.
Ways AI can boost businessStop wasting your most precious resource: Middle managers
In the modern workplace, middle managers face many challenges. A new survey finds three areas where organizations can better support their managers and help them accomplish more.
Support managersGeopolitical risk: Navigating a world in flux
In a fast-fragmenting world, geopolitical instability has vaulted to the top of the CEO agenda. Here’s what today’s fraught global dynamics mean for leaders—and how they can begin grappling with geopolitical risk successfully.
Develop resilienceThe EU digital strategy: The impact of data privacy on global business
New data regulations from the European Union require organizational attention, and three key steps can help navigate the data privacy landscape.
Navigate the new landscapeMcKinsey Explainers
Find direct answers to complex questions, backed by McKinsey’s expert insights.
Learn moreMcKinsey Themes
Browse our essential reading on the topics that matter.
Get up to speedMcKinsey on Books
Explore this month’s best-selling business books prepared exclusively for McKinsey Publishing by NPD.
See the listsMcKinsey Chart of the Day
See our daily chart that helps explain a changing world—as we strive for sustainable, inclusive growth.
Dive inMcKinsey Classics
In a digitized world, it’s hard to protect everything equally well. Learn how and what to protect with our classic, “Protecting your critical digital assets: Not all systems and data are created equal.”
RewindData Points
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Subscribe— Edited by Eleni Kostopoulos, managing editor, New York
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Bridging the gap between business and IT, improving student outcomes in K-12 public schools, Tech for Execs, and more: The Daily Read weekender
Harmony Internal - McKinsey
Essential insights for the weekend Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
It’s finally the weekend and it’s time to unwind. Get caught up on the week’s big reads on bridging the gap between business and IT, preventing a global food crisis, the latest Tech For Execs on GPT, and more.
TECH FOR EXECS
Welcome to Tech for Execs: quick primers on key technology concepts to get leaders up to speed.
How are organizations using GPT today? Generative AI harnesses machine learning for a wide range of use cases—whether that’s a customer service response, creating code, extracting content from medical information, creating personalized product guides etc. By automating previously labor-intensive tasks, GPT can increase productivity, reduce costs, and open new areas for growth. In life sciences, the technology is already being used to accelerate drug discovery through better understanding of diseases.
What about the risks? We tend to assume computers always give us accurate answers. But GPT can get things wrong—some risks are associated with data sources which may include unhelpful biases. Others are associated with model performance and accuracy because sometimes these models confidently give the wrong answers. Some others are associated with IP and data privacy breaches. Businesses must understand these risks and carefully manage them.
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> - 06:13 - 31 Mar 2023 -
Ever tried oat milk? US consumer habits and attitudes toward dairy are changing.
On Point
Five highlights from our research 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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ร่วมกิจกรรมตอบคำถาม รักษ์โลกวันสงกรานต์ ในอาทิตย์หน้านี้!
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ขอเชิญคุณร่วมกิจกรรมตอบคำถาม รักษ์โลกวันสงกรานต์ กับชไนเดอร์ อิเล็คทริค ในช่วงวันสงกรานต์นี้ ลุ้นรับรางวัลพิเศษจากเรา!
คลิกเพื่อลงทะเบียนเข้าร่วมการแข่งขันที่จะเกิดขึ้นในอาทิตย์หน้า
ลงทะเบียนเพื่อเล่นเกมส์ รักษ์โลกวันสงกรานต์
กติกาง่ายๆตอบคำถาม 3 ข้อให้ถูก10 สุ่มจับรางวัลผู้ชนะ 10 ท่าน รับทันที บัตรกำนัลอิเล็กทรอนิกส์ Grabมาร่วมสนุกลุ้นรับรางวัลกัน!
+ 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
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Last chance to attend today's webinar and learn about unlocking the power of distributed teams: insights from 1,500+ remote leaders
Last chance to attend today's webinar and learn about unlocking the power of distributed teams: insights from 1,500+ remote leaders
There is still time to register your spot for today's webinar.Hi MD,
Unlocking the Power of Distributed Teams: Insights from 1,500+ Remote Leaders
Last chance to register for our webinar on global employment and distributed teams! Remote's extensive research project has uncovered vital insights that will shape the future of businesses worldwide. Our team of experts will share valuable perspectives that you won't find anywhere else. This is a must-attend event for anyone interested in staying ahead of the curve in 2023 and beyond. Don't miss out - register now before it's too late!
Webinar: Future of global employment: what we learned from 1,500+ remote leaders
Date and times:Thursday, March 30, 2023
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Revolutionize your Fleet Management with Video Telematics
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The world confronts an uncertain future. What key themes emerged at Davos this year?
On Point
Takeaways from McKinsey leaders based in Asia Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• Surprising optimism. Delegates at Davos were more optimistic than expected, noted Joe Ngai, McKinsey senior partner and chair of Greater China. “I was surprised at how positive people were [at Davos],” Ngai said. “We are at a time where there’s so much uncertainty.” Senior partner and McKinsey Global Institute director, Kweilin Ellingrud, added that a highlight for her was the sense that “economic inclusion is really underpinning so much of what’s going to happen going forward.” Discover more leaders’ perspectives from Davos.
— Edited by Belinda Yu, editor, Atlanta
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Building Elite DevSecOps Performers - On-Demand Webinar
Sumo Logic
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Prepping for the future of restaurants
Re:think
Ordering up fresh ideas for the restaurant industry The restaurant industry has always faced challenges, but lately there’s a sense that the knocks keep coming. First, pandemic shutdowns closed some restaurants’ doors. Then, both the pandemic and the war in Ukraine caused supply chain disruptions and cost increases. And now, restaurants are being slammed by the same general inflation that consumers are seeing elsewhere—which is, in turn, causing consumers to rethink their restaurant spending.
Because consumers expect inflation to slow, they think restaurants’ price increases should also start to slow. But the actual costs for restaurants keep rising. The result is that restaurants are getting squeezed on both sides. I think there will be margin pressure for a while, stemming from higher commodity costs, labor shortages, and limits on what stressed consumers are willing to pay.
On the commodities side, it’s the same thing you see at the grocery store: higher prices and barer shelves. This has been highlighted by recent jokes about the cost of eggs and people raising chickens in their backyards, but the real problem is the whole global food supply chain—the entire basket of goods. It’s one of the few times in recent history when nearly all restaurant input costs have increased simultaneously. Costs for some proteins have gone up 20 to 80 percent. Some items aren’t reliably available. And you’ve seen chain restaurants take things off menus.
On the labor side, it’s been tough to find workers. After the industry largely shut down during the pandemic, which was of course horrible for the livelihoods of individual employees, only a portion of the workforce came back. There are debates over why, but one factor is that it’s in-person work, which is inherently less flexible than hybrid jobs in an age when many workers expect more flexibility. This industry has always been labor-intensive, but now it takes more to get employees in the door—better pay, better benefits, and better working conditions. There were minimum-wage increases in 26 American states in the past year. Half of restaurant operators said last year that their biggest challenge was recruiting and retaining employees.
Restaurants are taking action. Many are using sophisticated pricing techniques and cutting-edge digital marketing to improve their bottom lines. But there are indications that to survive and thrive, restaurants might need to fundamentally transform their operating models. This includes a continued “unbundling” of the restaurant experience, in which preparing the food, serving the food on-premises, and delivering the food to homes all become discrete operations. The way this plays out will be different across the spectrum of restaurant types.“Nearly all restaurant input costs have increased simultaneously. Costs for some proteins have gone up 20 to 80 percent.”
Fast-food and fast-casual restaurant companies are thinking about what they can automate. Their consumers tend to care more about speed, convenience, and price-to-value than about the sit-down service experience. So you’re seeing experiments with virtual cashiers and burger-flipping robots. Automation can be a way to deal with labor shortages and redeploy employees into higher-value roles. But it requires up-front capital expenditures, which favor companies with scale.
There’s also been more interest in virtual brands and “ghost kitchens” that aren’t tied to physical stores with in-person dining, thus requiring fewer employees and less real estate. They can be a way to nimbly maximize assets and minimize costs, as when a chicken wings restaurant manages food waste by launching a virtual brand around, say, chicken thighs. Or there might be a way to jump on short-lived fads—if, say, meatballs became a trend, you could imagine pop-up, virtual meatball brands that quickly connect a new menu and logo to existing infrastructure.
On the other end of the spectrum, with full-service restaurants, you’ll see the service experience continue to matter even as it evolves to manage cost pressures. Because what is the impetus to go to a restaurant in the age of delivery apps? With fine dining, the experience can be a differentiator, but the question is, how do you deliver that high-end experience in a way that’s sustainable for the employees and the restaurateur? Maybe you sell prepaid tickets, perhaps on a subscription model, for people to enter the restaurant at specific times. Maybe you’re only open during days of the week or dayparts when revenues and tips are stronger, and at other times you maximize your assets—meaning your kitchen and employees—by essentially making gourmet take-home food.
The pandemic shutdown reset consumers’ expectations about what restaurants should provide. We went from “going out to eat is how I engage with the restaurant industry” to “I expect food to meet me wherever I am at any time of day.” It’s analogous to what has happened in retail, where the expectation became that a consumer could get anything delivered to their doorstep in a day or two.
The silver lining is that disruption creates opportunities. If you find new ways to engage with the consumer—where you’re not just asking them to sit down in your restaurant—you can unlock different times of day and new kinds of occasions. It could create a broader role for restaurants.ABOUT THE AUTHOR
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UP NEXTDee Yang on nature positivity
Livability on Earth depends on protecting multiple aspects of nature, of which climate is only one. Just as companies and countries have embraced net-zero goals, it’s time to become nature positive.
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Middle managers are often stuck between leaders and employees. Here’s how to break the stalemate.
On Point
Three areas to increase support of managers Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• Both ends against the middle. A recent survey by McKinsey senior partner Bill Schaninger and colleagues finds that middle managers tend to be underdeveloped, underutilized, and unappreciated. They report spending nearly half of their time on administrative and individual-contributor tasks (such as scheduling meetings and sending out data analysis results), which leaves them less time to focus on talent and people management and strategy-focused work. Such time constraints may hinder their ability to deliver clear results and move organizations forward.
— Edited by Gwyn Herbein, editor, Atlanta
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ห้ามพลาด! ขอเชิญเข้าร่วมงานสัมมนา Innovation Day: SI & MI Forum 2023
Schneider Electric
ห้ามพลาด! การเข้าร่วมสัมมนา Innovation Day: SI & MI Forum 2023Schneider Electric ขอเชิญคุณเข้าร่วมงานสัมมนา Innovation Day: SI & MI Forum 2023
ในวันที่ 31 มีนาคม 2023 เวลา 09:00 - 16:00
พบกับผู้เชี่ยวชาญด้านระบบอัตโนมัติทางอุตสาหกรรมและเพื่อนร่วมอุตสาหกรรมของคุณ ซึ่งมุ่งเน้นไปที่การเร่งอุตสาหกรรมแห่งอนาคต มาเรียนรู้วิธีพัฒนานวัตกรรมในโลกของ
Industrial Automation ที่เปลี่ยนแปลงตลอดเวลา และค้นหาโอกาสในการทำให้ธุรกิจของคุณเติบโต
เข้าร่วมงานสัมมนาในหัวข้อ:- Introduction for New Industrial Solutions
- IOT Solutions
- Universal Automation "Ecostruxure Automation Expert (EAE)"
- ค้นพบเทคโนโลยีด้านอุตสาหกรรมล่าสุดใน Market Place EAE, Machine SCADA Expert, HMI Solution, IoT Migration, Multi-Pump Solution
31 มีนาคม 2023
เวลา 09:00 - 16:00 น.บริษัท ชไนเดอร์ อีเล็คทริค (ไทยแลนด์) จำกัด46 อาคารรุ่งโรจน์ธนกุล ชั้น 1, ถนนรัชดาภิเษก เขตห้วยขวาง แขวงห้วยขวาง กรุงเทพ 10310+ 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© 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.
by "Schneider Electric" <reply@se.com> - 11:00 - 28 Mar 2023 -
โอกาสดีที่สุดแห่งปี! เชิญท่านร่วมงานเทคโนโลยีอุตสาหกรรม ชไนเดอร์ อิเล็คทริค
Schneider Electric
Innovation Day:
Industrial Solutions, Songkhla 2023ชไนเดอร์ 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
วันและเวลาวันที่ 18 พ.ค. 2566
เวลา 8:30-16:00 น.สถานที่จัดกิจกรรมห้องบุปผาแกรนด์ ชั้น 5 โรงแรมสยามออเรียนทัลหาดใหญ่ จ.สงขลา+ 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© 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.
by "Schneider Electric" <reply@se.com> - 09:01 - 28 Mar 2023 -
Food loss is affecting an already vulnerable global food system. Here’s how grocers and consumers alike can help.
Intersection
Get your briefing Consumers want to eat more consciously, but many struggle with knowing how to do so. Food companies and retailers can help by providing information about products’ health and sustainability impact, say senior partner Jessica Moulton and coathors.
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Monitor OpenAI GPT application usage in New Relic
New Relic
March 2023Monitor OpenAI GPT application usage in New Relic Are you building with GPT? You can now monitor OpenAI’s GPT-4 app usage in New Relic. You can monitor requests, tokens, and costs of GPT-3 and GPT-3.5 applications with New Relic to improve the performance of OpenAI ML models. This out-of-the-box GPT monitoring solution is the first of its kind and free for all New Relic full platform users.Learn more in the blog We're thrilled to be recognized by GigaOm as the leading innovative platform among 21 solution providers in the 2023 GigaOm Radar for Cloud Observability Solutions report. In our blog post, GigaOm highlights the value New Relic delivers to customers.
Mobile devices are everywhere, expanding the revenue potential of mobile applications. But how do you efficiently build applications for multiple platforms and ensure ongoing performance? In our recorded workshop, you will learn the steps for instrumenting your React Native apps with New Relic, and use the data reported to understand and improve the performance of your applications over time.
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Find all upcoming NRU training sessions hereNew Relic in the NewsOptimising Observability with Consumption Pricing and Billing
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