Why did the Chinese central bank cut rates? The modest monetary easing of mid-August—just 10 to 15 basis points off short-term repo rates —is a limited response to a Chinese economy that is under serious downward pressure. Most, including myself, were expecting sustained momentum in the economy in 2023 to be driven by a snapback from the COVID-related lockdowns of late 2022. While there was evidence of such a bounce…
If world leaders learn only one lesson from the war in Ukraine, it should be that the ability to rapidly innovate—to invent, adopt, and effectively integrate new technologies—can have profound implications for combat outcomes. Outgunned and outnumbered, Ukrainians took a page from the U.S. playbook and turned to technology to gain an advantage over the adversary. They deftly adopted Starlink satellite communications, turned commercial drones into flying bombs, and, quickly…
Imagine a canvas where businesses paint their aspirations of growth and expansion. Market entry strategies provide the brushes, colors, and strokes required to bring those aspirations to life. These strategies are meticulously crafted blueprints that guide businesses in penetrating new markets, unearthing fresh customer bases, and solidifying their global footprint. A market entry strategy transcends mere market presence—it’s a calculated journey aimed at capitalizing on opportunities, mitigating risks, and achieving…
In this episode of the Inside the Strategy Room podcast, two authors of a recent article on the CEO transition discuss how incoming leaders can make the most of their first 12 months in the role. Carolyn Dewar, who co-leads McKinsey’s CEO excellence work, is a co-author of last year’s bestseller CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest. Kurt Strovink is co-leader of McKinsey’s global…
A team of Stanford Medicine researchers have shown in male mice that a particular neuronal circuit is responsible for sexual arousal and for the actions and pleasure that ensue, opening avenues for treatment in men. The brain’s hardwired housing for male mammalian sex drive, behavior and reward looks to be a one-stop shop. Stanford Medicine investigators have mapped out a dedicated brain circuit in male mice that is tripped off…
The recent White House announcement that it would send cluster munitions to Ukraine was met with both criticism and applause. The administration defended its decision, noting that Russia has been using these munitions to attack Ukraine and that Kyiv has been asking for these munitions for self-defense purposes. They have now begun to arrive. The decision has unsurprisingly proved divisive. The typically conservative editorial page of the Wall Street Journal…
Alliances matter. Not even superpowers can go it alone. Today alliances around the world are shifting, and not always in America’s favor. To be sure, there has been some good news for the United States and its friends. The Ukraine War has revived NATO as an alliance and (largely) unified it in support of Ukraine. Meanwhile, the formerly neutral Finland and Sweden applied for membership in NATO: Finland joined in…
In early 2020, as restrictions imposed to contain the coronavirus swept across the world, concerns about “lockdown fatigue” followed closely in their wake. As early as spring and early summer in the U.S., media commentators worried that lockdown policies were chafing, and that a critical mass of weary rule-breakers could render such policies ineffective. But were the fears about the diluting effects of lockdown fatigue warranted? After all, it was…
Check out 10 ways Bard can help you get things done, from brainstorming ideas to planning trip itineraries.
In January 2023, the European Union adopted the Corporate Sustainability Reporting Directive (CSRD), which requires EU and non-EU companies with activities in the EU to file annual sustainability reports alongside their financial statements. These reports must be prepared in accordance with European Sustainability Reporting Standards (ESRS). On July 31, 2023, the European Commission adopted the first set of ESRS. The ESRS soon will become law and will apply directly in…
Doing an M&A transaction across borders means increased complexity and risk for the parties involved, but careful planning — guided by experienced advice — can help ensure nothing gets lost in translation. Our first set of 10 tips for U.S. professionals doing private M&A deals in Canada covers everything from why structuring an earn-out clause as a “reverse earn-out” is a good tax strategy to the nuances of procuring representation…
Born between 1997 and 2012, Gen Zers are different from previous generations. Unafraid to speak up or break long-established taboos, a Gen Z team member might leave the office at 17.00 (five o’clock) sharp because they have football practice, even if there is more work to do. They might also question the company’s stance on a controversial social issue. More broadly, headlines such as “Generation Disconnected: Data on Gen Z…
“RoboAgent is a critical milestone toward general robotic agents that are efficient learners, effective in novel situations and capable of expanding their behaviors over time,” said Vikash Kumar, adjunct faculty in the School of Computer Science(opens in new window)’s Robotics Institute(opens in new window). “Current robots are highly specialized and trained for individual tasks in isolation. In contrast, we set out to create a single artificial intelligence agent capable of…
Many current TV shows and movies are reboots of existing franchises. Why has this one been so culturally omnipresent? The marketers at Warner Bros are being touted as geniuses, credited with the blockbuster success of the Barbie movie. The movie has already grossed $1 billion in box office sales, with a marketing spend estimated at $150 million and a similar cost for the movie. It’s a great ROI but there…
As anyone with chronic disease knows, access to health care doesn’t always equate with equitable health care outcomes, says guest Alyce Adams, an expert in innovations in health policy. Too often, care delivery breaks down along racial and socioeconomic lines. Our focus should be on better outcomes for all people, she says. Adams now develops interventions to help communities and health systems improve care delivery — and health equity —…
With more data available than ever before, why would any executive gamble on a hunch—especially for decisions that involve their own employees? An emerging field that uses data to study human behavior at work, “people analytics” is beginning to transform the workplace and significantly impact hiring and productivity, says Jeffrey T. Polzer, the UPS Foundation Professor of Human Resource Management at Harvard Business School. His recent paper probes how organizational…
Words matter as much as actions for central banks. Because changes in tone can presage shifts in monetary policy. We have created an index to measure and compare the tone of policy communication by the ECB and the US Fed. This ECB Blog post talks you through the findings. By Jean-François Bouscasse, Daniel Kapp, Danielle Kedan[1], Thomas McGregor and Julian Schumacher What central banks say can influence prices on financial…
Companies say they desperately want employees who can communicate effectively — leaders tell me that all the time in workshops — but how many of them really mean it? It’s hard to find a job posting that doesn’t mention the communication skill set as a key requirement. And yet, when faced with the skills that candidates actually have and those that they’re weak in, hiring managers find themselves making trade-offs,…
San Diego – August 4, 2023 – The California Supreme Court yesterday issued a landmark decision in Turner v. Victoria et al., which ensures essential whistleblower protections for more than 110,000 charities across California. Cooley represented plaintiff and appellant Debra Turner in successfully petitioning the court to review her case and in achieving a sweeping victory on the merits for Turner and for all California charities. Lawyers Steve Strauss, Erin…
Generative AI, also known as generative adversarial networks (GANs), is a subfield of artificial intelligence (AI) which has the potential to change the retail industry. This technology uses deep learning algorithms to generate brand new data and content based on user prompts. In contrast, other AI like reinforcement learning is more focused on processing and analyzing existing data. Clarkston’s retail team has enjoyed exploring the implications of generative AI in retail…
The purpose of Bank Overground is to share our internal analysis. Each bite-sized post summarises a piece of analysis that supported a policy or operational decision.
“I can quit whenever I want. That thought gives me peace of mind, joy in my work and certainty” Karel van Wijk embodies the modern-day tale of David and Goliath: he made his company, Advanced Valve Solutions successfully compete with the largest players in the energy industry, with the sale to the Swedish tech giant Addtech as his final achievement. 65 years ago, Karel van Wijk was born with a…
Almost precisely a year after the Department of Justice (DOJ) announced its intent to begin the rulemaking process to enact website accessibility regulations applicable to state and local governments under Title II of the Americans with Disabilities Act (ADA), the DOJ has published its Notice of Proposed Rulemaking (NPRM) to the Federal Register for publication today, August 4, 2023. We will follow up with another post with more substantive analysis, but here…
Mark van Nieuwland is the vice president of Bovaer, a methane-reducing feed additive, at Swiss-Dutch nutrition, health, and beauty company dsm-firmenich (DSM). Joshua Katz, a McKinsey partner and leader in the agriculture and private equity space, and Wilson Roen, a McKinsey consultant and sustainability fellow, talked with Mark about the development of Bovaer, how the agriculture industry can encourage further adoption among farmers, and what the world can do to…
Before he became an expert on corporate leadership, Charles O’Reilly spent five years in the U.S. Army. There he witnessed the stark divide between good and bad leaders and realized how much influence they had on the people who worked for them. Now a professor of organizational behavior at Stanford Graduate School of Business, O’Reilly says his time in the military sparked his interest in leadership, particularly his fascination with…
The researchers, from the University of Cambridge, studied industry data from the UK and 24 other European countries between 1995 and 2017, and found that at low levels of adoption, robots have a negative effect on profit margins. But at higher levels of adoption, robots can help increase profits. According to the researchers, this U-shaped phenomenon is due to the relationship between reducing costs, developing new processes and innovating new…
Recent figures obtained by the BBC’s File on 4 have found that the number of modern slavery cases reported within the UK care sector has more than doubled in the past year. According to the figures, there were 109 potential victims exploited for personal or financial gain between January and March, which was twice as high as the figure recorded during the same period last year. This investigation report has…
Chuck Mattera, chair and CEO of Coherent, formerly II-VI, has spent a lifetime building businesses by harnessing breakthrough technologies. At Coherent, he has championed a strategy focused on acquisitions to achieve scale and deliver innovations in the industrial, communications, electronics, and instrumentation markets. McKinsey’s André Andonian and Abhijit Mahindroo sat down with him to discuss the lessons he has learned and his plans for the future. An edited version of…
Main Residence Relief is a valuable Capital Gains Tax allowance which saved taxpayers around £26.7 billion in 2021. But there are some pinch points which it makes sense to be aware of – so you don’t get caught out. Peter Webb, our Head of Tax Advisory, looks at how to avoid some of the tax traps. If your property (legally referred to as “dwelling house”) has been your main residence…
According to the research, published in Science Advances, ancient water management traces are captured in the limescale deposits which built up on the walls and floor of the ancient Roman aqueduct of Divona (Cahors, France). Ancient water management traces are captured in the limescale deposits which built up on the walls and floor of the ancient Roman aqueduct of Divona The evidence shows that these deposits were regularly and partially removed during…
Combined, Dan Lavker and Anthony Grant have over a half-century of tenure with Delta. As members of the Elite Services team, they craft memorable, premium experiences for customers at Hartsfield-Jackson Atlanta International Airport (ATL). You’ll often find them behind the wheel of a Porsche Cayenne, ferrying customers between connecting flights. Most recipients are lucky, unsuspecting customers who find an Elite Service Ambassador waiting for them at their plane’s boarding door…
As we think about the growing wildfire season around the world and its impact on people and the planet, it’s easy to feel powerless. But AI can help. Wildfires are already breaking records in North America. So far this year, we’ve seen more than 28 million acres burned in Canada, blanketing smoke across the east coast and creating unsafe air for millions. Recent fires surrounding the Mediterranean resulted in the…
The summer holidays are here and you may be wondering how you are going to keep your children or grandchildren entertained until they go back to school. You will likely be spending a lot more time with them taking trips together, going on family days out, or just relaxing at home. While you have this quality time with them, you have a great opportunity to teach them some of the…
Although most truck OEMs acknowledge Software-driven vehicles as a new norm for the commercial vehicle industry, they still need to convince their customers that these vehicles will add value to their businesses – especially around the top three objectives of improved uptime, productivity, and fuel efficiency. Fredrik Almhöjd SDVs have a major role to play in helping fleet operators overcome the international shortage of truck drivers, explain Fredrik Almhöjd and…
(Finally, a car that looks like a car) Presentation by Simon Humphries Good morning, everyone. The history of Land Cruiser, is a history of Toyota itself. Let me take you back exactly 72 years, when the Land Cruiser legend was born. It was the time of Kiichiro Toyoda, founder of Toyota Motor Corporation. The company was only 14 years old, a disruptive "start-up" in the automotive world. Corolla and Crown,…
Several U.S. courts are addressing lawsuits brought by artists alleging that AI-generated art infringes on copyrights held by the artists for their artwork. In one of those cases, a California federal judge recently indicated that he would dismiss the bulk of the plaintiffs’ complaint, while giving them a chance to re-plead their claims. A written decision from the court is forthcoming, and that decision could be an important one for…
Cars are by far the most popular and important means of transport The car is still by far the most important means of passenger transport. According to the latest DAT report, 77% of those surveyed consider their own car indispensable for ensuring everyday mobility. In 2021, just under 87% of total passenger transport performance was attributable to so-called motorized individual transport (MIV; predominantly passenger cars). It is true that this…
In our fast-paced and ever-changing market, understanding consumer motivations and preferences, specifically for younger generations, is key for organizations looking to remain profitable and relevant. For many CP companies, the growing trend of hyperlocalism is one way to achieve that success. So, what is hyperlocalism? What is Hyperlocalism? Hyperlocalism refers to a strategy that targets potential consumers within a specific geographical location. It aims to provide personalized products tailored to…
Often the incentives we put in place to stimulate and reward performance produce unexpected behaviors. Causes vary from one individual to another, depending on what each of us values and what we are willing to do for the organization and the incentive. Misfires also occur because of policies that conflict with incentives or the ways the incentives are administered. In 1975, Steve Kerr, who would later become head of executive…
Cynics often know the price of everything but the value of nothing. Remember how, just months ago, leading economic voices were predicting a catastrophic “Category 5 economic hurricane” this year? The astounding 2.4% GDP growth revealed this week, with plunging inflation, historically low unemployment, and corporate profit reports soaring past expectations, have knocked the wind out of the fact-free cynics. It’s been said that cynics sound smarter than optimists because…