It’s normal to consider completing a Lasting Power of Attorney (LPA) as you age, however these important documents are essential no matter how old – or young – you are. Steve Wright, our Estates Director, explores why it’s so important to not only complete LPAs but also register them. Considering what might happen if you aren’t able to make your own decisions probably isn’t something most people are keen to…
When unionization rumors begin, most companies react by throwing money at the problem. But that won’t halt the drive if workers feel mistreated or ignored, as Amazon found out. The company boosted hourly wages and benefits for warehouse workers, but many employees continued to call for union intervention. They said the company disregarded their concerns that they were being monitored, overworked, and in some cases, placed in unsafe environments. “Yes,…
For businesses seeking to stay ahead, embracing strategic changes becomes vital. Management consultants provide the necessary insights and support to execute these changes, making a significant impact on an organization’s growth. Introduction In today’s fast-paced business world, organizations face complex challenges that demand expert guidance for successful navigation. Management consultants, with their specialized expertise, offer invaluable assistance to businesses across various sectors. This article explores the significant value that management consultants…
A dynamic new wave of digital-first companies has emerged, driven by a significant decrease in the cost of building a minimal viable venture and further propelled by recent advancements in Generative AI. Founders can now quickly build chatbots/companions, education tools, image generation tools, lightweight SaaS apps, and games for customers around the world. Selling these digital products globally, however, is not yet straightforward. Founders currently need to stitch together multiple complex tools including payment platforms, support tools, tax…
Recent research published by our People Science team highlights a significant problem affecting organizations across industries: bad bosses. This phenomenon, while widely recognized, can be viewed from a number of perspectives. When preparing our original report, we were asked a provocative question: why wouldn’t an employee, unhappy with a less-than-ideal manager, simply quit to seek out “greener workplace pastures.” The reality is that leaving a job because of an ineffective…
In a new paper, Stanford University authors, including Stanford Law Associate Professor Julian Nyarko, illuminate how algorithmic decisions based on ‘fairness’ don’t always lead to equitable or desirable outcomes. Algorithms underpin large and small decisions on a massive scale every day: who gets screened for diseases like diabetes, who receives a kidney transplant, how police resources are allocated, who sees ads for housing or employment, how recidivism rates are calculated,…
Large language models (LLMs) use deep-learning techniques to process and generate human-like text. The models train on vast amounts of data from books, articles, websites and other sources to generate responses, translate languages, summarize text, answer questions and perform a wide range of natural language processing tasks. This rapidly evolving artificial intelligence technology has led to the creation of both open- and closed-source tools, such as ChatGPT, Claude and Google…
Google DeepMind introduces a new vision-language-action model for improving robotics.
Russia’s war in Ukraine is an ongoing tragedy, destroying lives and livelihoods in Ukraine and altering economic patterns worldwide. In May 2022, we set out an initial analysis of 12 disruptions that the war could unleash. With the passage of time, it seems increasingly likely that the war, coming so soon after a global pandemic, could presage a new economic era. We have been here before: today’s shocks are reminiscent…
Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholz. Howard Forman: And I’m Howie Forman. We’re physicians and professors at Yale University. We’re trying to get closer to the truth about health and healthcare. We have an exciting interview coming up with Dr. Alan Friedman of Yale New Haven Hospital and Yale School of Medicine. But first, in keeping with a podcast that is sponsored by a school of…
How to move communities away from flooding risks with minimal harm As sea levels rise and flooding becomes more frequent, many countries are considering a controversial strategy: relocation of communities. A Stanford analysis of planned relocations around the world reveals a blueprint for positive outcomes. By Rob Jordan Stanford Woods Institute for the Environment As sea levels rise and flooding becomes more frequent, many countries are considering a controversial strategy:…
I was sitting in the front row of a large conference room with 150+ colleagues behind me. I felt a wave of nervousness wash over me while I was waiting for my turn to get on stage and speak. I’m an introvert and hated public speaking. Butterflies in my stomach. Sweaty palms. Why do I have so much saliva right now? I’m swallowing too much. It’s too cold in here…
In today’s ever-changing consumer landscape, the alcohol industry has shown fascinating transformations to meet the demands of shifting consumer tastes and preferences. 2022 marked the first year where the spirits market share surpassed the beer market share in the U.S. beverage alcohol market. Largely attributed to the impacts of the Covid pandemic, the alcohol industry is experiencing a new era of health-conscious consumers. The rise of “better-for-you” alcoholic beverages has…
Connected autonomous vehicles combine the digital world with automated technologies to assist or replace humans in cars. These vehicles’ sensors and cameras read the car’s surroundings and make constant connections to the Internet, GPS tracking systems and telecommunications networks. An autonomous vehicle shares information inside and outside the car. It connects with the online cloud, with other cars, with satellites, with cellular networks, with emergency services and road infrastructure. It…
When buying an electric vehicle, consumers want an experience that matches their expectations of the car itself. That is, something exciting and innovative but also reliable and predictable. They expect to both transact online and negotiate with a real person, and they still need to take a test drive. However, the overall experience needs to be more seamless, more personalized, and more flexible than it was in the days of…
Jonny Cottom knows the juggle involved with running a start-up single handedly. Since launching BreakBottle, an eco-friendly water bottle brand, last year, he has been s…
A closer look at the social pressures that dissuade job candidates from negotiating for more money.
The answer may not be obvious at first. Here are a few ways we see companies taking on culture change, often under the guise of a different name: Adopting and socializing a new customer-first go-to-market strategy Shifting from working heads-down in silos to formal, cross-functional collaboration Turning the tide to incite more inclusive behaviors When starting to make these shifts, the go-to answer is often: “Let’s talk to HR –…
Typically, a will is an official document drawn up by a legal professional. It clearly outlines how you want your estate to be distributed after you are gone, and it should avoid any confusion or disputes. However, a recent court case involving the late Aretha Franklin demonstrated that this is not always the case. The “Queen of Soul” did not leave a formal will behind when she died. Instead, her…
Failing once at something new is an experiment, and experiments are crucial to success. Failing twice at the same thing might be more accurately called a mistake.
How will hotel operators use new technologies, respond to travelers’ changing needs and preferences, and become more sustainable? Five leaders of McKinsey’s Travel, Logistics & Infrastructure Practice envision what the hotel experience might be like in the 2030s. The following transcript has been edited for clarity. Convenience and customization Caroline Tufft: The big change that I anticipate, more than anything, in hotels in the future is that every single pain…
With Hepatitis C running rampant in Egypt in 2012, Clifford Samuel, then of California-based Gilead Sciences, convened a series of urgent meetings with Egyptian government officials, doctors, and patients. His goal? To make Gilead’s lifesaving Hepatitis C drugs available for Egypt’s most vulnerable by harnessing a new business model. The bold approach worked. Gilead, one of the world’s leading antiviral makers, would sell its branded Hepatitis C medicines while offering…
Many organisations focus exclusively on in-year benefits and quick wins at the expense of discovering the deeper opportunities within order to cash (O2C). However, taking a deeper look into these processes can reveal hidden opportunities that can lead to long-lasting results and significant value. This article delves into the importance of reassessing and improving O2C processes and offers a four-step approach to achieve optimal results. Unveiling the complexity concealed within…
The rapid advancement of artificial intelligence (AI) has resulted in its proliferation across various sectors – from consulting and banking to manufacturing and healthcare, to name just a few. Generative AI has become increasingly widespread and is set to be a game changer at all levels, with far-reaching repercussions for democracy, elections and armed conflict. It is therefore critical to assess its impact on democratic principles and institutions, as well…
Gift cards have become a popular option for offering gifts and rewards in the Business-to-Consumers (B2C) domain. As a business offering gift cards to UK consumers, it is crucial to understand the UK legal rules surrounding gift cards to protect your customers and your business. In this article, we will outline the key legal rules that gift card providers should be aware of and explain how you can comply with…
AI is improving ways to power the world by tapping the sun and the wind, along with cutting-edge technologies. The latest episode in the I AM AI video series showcases how artificial intelligence can help optimize solar and wind farms, simulate climate and weather, enhance power grid reliability and resilience, advance carbon capture and power fusion breakthroughs. It’s all enabled by NVIDIA and its energy-conscious partners, as they use and…
Change is an inevitable aspect of any project, whether it’s a small business initiative or a large-scale enterprise venture. Embracing and managing change effectively can make or break a project’s success. In this article, we delve into the crucial role of effective change management in project success. We will explore various strategies, tools, and best practices that can help organizations navigate through transitions successfully. Let’s understand how to optimize the…
Q: What are the core values that led you to the work you do? Passion and compassion drive me professionally and personally. I have a fervency for service to others that comes out of my roots in Judaism: You don’t have an obligation to perfect the world, but you do have a responsibility to keep trying to make things better. I come from a community that has been marginalized in…
Americans are all in for labor these days. According to an August 2022 Gallup poll, 71 percent of Americans approve of labor unions, up from 64 percent prior to the pandemic and the highest Gallup has recorded since 1965. SLS Professor Emeritus William B. Gould With Hollywood writers and actors on their first coordinated strike in 63 years, thousands of Los Angeles hospitality workers walking their own picket lines, and…
Last year, electricity was in short supply, and prices in the electricity market skyrocketed. Rising prices signal a shortage ‒ for example, during hours of high demand and low production from renewables, and during crises such as the gas shortage resulting from the Ukraine war. However, most consumers in Switzerland have little incentive to respond to these price signals, as they are supplied by their electricity utility (EVU) at a…
Social value has been ‘a thing’ in the business world since the 70s. But it has gradually increased in prominence, particularly in the last decade as awareness of the importance of operating sustainably has grown. Of course, it’s not just about sustainability. Social value incorporates what organisations do in terms of community (their relationships with the communities in which they operate and employ people), wellbeing (ensuring employees are well looked…
Employers have a duty to provide a safe working environment to their employees, to ensure they are not discriminated against, and do not suffer harassment or victimisation, due to any of the protected characteristics under the Equality Act 2010. However, when it comes to bullying at work, employers will have become aware that the ‘bar’ when behaviours cross the threshold to be classed as bullying seems to have lowered, which…
The digitisation of businesses and the increasing reliance on technology for core business operations has heightened the risk of a cyber attack. In fact, in this day and age, it's a matter of when – and not if – a cyber attack will take place. A cyber attack can cause significant financial loss, intellectual property theft, disruption to business services and can also damage investor and consumer confidence in a…
In 2021, as so many communities continued to grapple with the financial effects of the pandemic, Fernando Cortes struggled to find work and pay his bills. A friend told him that Destination: Home, a nonprofit focused on the unhoused and supported in part by Apple, could help defray the cost of his rental payments as part of its Homelessness Prevention System. “I wouldn’t have been able to continue living in…
The idea that a leaner body makes for a faster stride is common among distance runners. But it's inaccurate and sets a dangerous ideal, according to Megan Roche, MD, PhD, an ultrarunner and researcher at Stanford Medicine. Runners who are excessively lean are prone to injuries, infectious diseases, mental health problems and loss in bone density, said Michael Fredericson, MD, a professor of orthopaedic surgery who has served for decades…
You’re not doing anyone a favor by avoiding conflict.
Servant leadership was a crucial stepping-stone to a more humane world of work, but “noble-purpose leadership” is better suited for today’s chaotic environment.
Kees Jacobs Part 3: Embed data within the business Welcome to the third part of this initial blog series on the future of commerce and the role of data and technology. In the earlier parts, we discussed the impact of channel-less commerce, the need for connected capabilities, the significance of data-driven competencies and value, and the importance of managing data foundations, data collaboration and composable technology architectures. In this final…
For more than a decade, the World Happiness Report—a collaboration among several top universities in the United States, the United Kingdom, and Canada—has published annual data on the happiest countries in the world; Finland has held the top spot for six years in a row. Part of a vast body of literature that examines people’s subjective well-being and the factors that contribute to its improvement or decline, the report calculates…
Private capital loved software —or it did for about a decade, during which capital deployment skyrocketed. In more recent quarters, software markets have reflected global macroeconomic uncertainty. Publicly listed companies’ multiples swooned; access to debt markets tightened; and private markets continued to hold large amounts of dry powder. Developments in banking that have affected major tech-financing entities may also affect capital raises for software. Developments in banking that have affected…