Business, Management, Marketing, Money, Tax, Law, People

Why you should ignore media “experts” and stick to your financial plan

The Canadian educator Laurence J. Peter once quipped, “An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today.” While Peter’s pithy indictment may perhaps be a bit unfair to an entire class of economists, historical study and contemporary research suggest that following the “experts” or trends based on the current “noise” isn’t always advisable. With social media, 24-hour news, and a seemingly…

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The “art” of central banking on screen

14 March 2024By Carolin Benack and Stefan RuhkampCentral banks have been collecting art for a long time. While the works were previously only accessible at their physical locations, more and more central banks now make their collections available online. The ECB Blog showcases four collections you can enjoy from wherever you are.Central bankers sometimes speak of their profession as an art – perhaps to make it seem more vivid and…

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How Companies Can Support Single Parents

Single parents face increased pressure as they balance full-time employment with the responsibility of caring for their children. This heightened pressure comes from various factors, such as economic challenges, limited support systems, and the need to provide for their families. The United States has one of the highest rates globally of children residing in single-parent households, with nearly one in four children, totaling approximately 22 million, living with a sole…

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Implementing generative AI with speed and safety

Generative AI (gen AI) presents a once-in-a-generation opportunity for companies, with the potential for transformative impact across innovation, growth, and productivity. The technology can now produce credible software code, text, speech, high-fidelity images, and interactive videos. It has identified the potential for millions of new materials through crystal structures and even developed molecular models that may serve as the base for finding cures for previously untreated diseases.McKinsey research has estimated…

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What Should We Expect from BRICS and What Should We Not?

Discrepancies between expectations and practice are one of the most noticeable characteristics of modern world politics, both in the performance of leading powers and in the activities of the international institutions they create. The origin of this phenomenon is the fact that the first is a product of subjective ideas or intentions, while the second is the result of objective factors, which even the strongest political will cannot cancel. Moreover,…

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Working nine to thrive

At a glance Health can be meaningfully modified by factors outside traditional healthcare systems, including work factors. Employers have considerable opportunities to improve health through six modifiable drivers: social interaction, mindsets and beliefs, productive activity, stress, economic security, and sleep. Globally, improving employee health and well-being could create $3.7 trillion to $11.7 trillion in economic value. Imagine a world in which employers make evidence-based investments in the health of their…

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How Political Identity Shapes Consumer Behavior

Marketing professorNailya Ordabayeva has long been interested in the role social and economic hierarchies play in consumption behaviors. Tuck professor Nailya Ordabayeva teaches the core marketing course in the Tuck MBA program. She also teaches Marketing Principles for Creating Value and Building Your Personal Brand in custom Tuck Executive Education programs for organizations. She admits it probably goes back to her childhood in Kazakhstan, where the fall of the Soviet…

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Steer Clear of Corporate Venture Capital Pitfalls

Magazine Spring 2024 Issue Big companies and risk capital can be awkward partners. Here’s how to get corporate venturing right. Ilya A. Strebulaev and Amanda Wang March 12, 2024 Reading Time: 22 min  Jon Krause The Research The authors set out to investigate factors in the success or failure of corporate venture capital initiatives. They interviewed leaders of 164 CVC units and probed for details on how their organizations are…

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Pioneers and Pathfinders: Zack DeMeola

Our guest today is Zack DeMeola, Senior Director of Strategic Initiatives at the Law School Admission Council (LSAC), a not-for-profit organization with the goal of advancing law and justice by promoting access, equity, and fairness in law school admission and supporting learning journeys from prelaw through practice. A former corporate litigation attorney, Zack left practice after several years to join the Institute for the Advancement of the American Legal System…

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How AI can help you have smarter, more thoughtful conversations

This article first appeared in the WorkLab newsletter. Get exclusive insights on AI and the future of work by subscribing here.The ability to clearly articulate what you want and why you need it is not just vitally important to how you interact with other people—it determines the quality of the responses you get from AI as well. It’s an insight Charles Duhigg, bestselling author of multiple productivity books, uncovered while researching…

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Publish or Perish: What the Research Says About Productivity in Academia

To succeed in academia, professors often feel the pressure to “publish or perish.”But in evaluating professors’ productivity based on total published studies and grant funding, are institutions overlooking other factors that affect a faculty member’s ability to conduct important research? “We rely on things like the publication record and grant databases, which are not designed for us to see how science is operating.” Harvard Business School Assistant Professor Kyle Myers…

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The future of Medicare Advantage

This year US health insurers have to navigate strong crosscurrents from demographic shifts, regulatory changes, and member preferences. How they react now can have an impact for years to come. By Gabe Isaacson, Dan Jamieson, Sonja Pedersen-Green, and Cara Repasky The undeniable story of early 2024 for US health insurers has been the sustained economic pressures that Medicare Advantage (MA) payers are experiencing. This was borne out in 2023 year-end…

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Going the Last Mile (with Evidence)

In the spring of 2022, a team of economists and public health researchers led by Mushfiq Mobarak, Niccolò Meriggi, and Maarten Voors spent weeks bumping along rough, gullied roads in rural Sierra Leone. It was hot and humid, but at least it was the dry season: Sierra Leone has the highest annual precipitation in West Africa, and most roads are unpaved, so when the downpours come, the roads become mud-slathered,…

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The Top 100 Gen AI Consumer Apps

Ever since ChatGPT catapulted generative AI into public consciousness over a year ago, we’ve been introduced to thousands of new consumer products that incorporate the magic of AI — from video generators to workflow hacks, creativity tools to virtual companions.  Six months ago, we did a deep dive into web traffic data to separate the signal from the noise. We ranked the most popular generative AI web products, based on…

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America Needs More Techno-Optimism

In this fireside chat from the American Dynamism Summit, a16z Cofounder and General Partner Marc Andreessen sits down with economist, podcaster, and polymath Tyler Cowen to discuss the state of innovation in America, from recent AI advances to growing support for nuclear power. They’ll explain why the future many people claim to want — a better economy, better quality of life, and a safer world — is only possible if…

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Adopting subscription billing software to support B2B sales

In part five of our Drive to Subscribe series, we look into the critical factors to consider when adopting subscription billing software and examine a specific B2B sales use case supported by these advanced technologies.The subscription market is continuing to grow at a significant pace, with subscription businesses growing 4.6x faster than the S&P 500 (1). However, finance teams and technologies are struggling to keep up, with recent evidence showing…

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Make Social Media Your Secret Weapon: 4 Tips to Develop Your Personal Brand Online

In today’s fast-paced and hyperconnected world, personal branding is not just important, it’s essential!  Having a stellar reputation is simply no longer enough. If you want to make it in today’s competitive professional landscape, it’s time to be proactive and start crafting a personal brand that reflects who you are and what you stand for. Fortunately, there are several tools at your disposal. One of the most valuable tools in…

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Our Guide to the Spring 2024 Issue

subscribe-icon Subscribe Share Who Profits the Most From Generative AI? Kartik Hosanagar and Ramayya Krishnan Key Insight: A breakdown of what it takes to build and deploy a large language model shows where incumbents have the best prospects for success and where newer companies have an edge. Top Takeaways: Since the launch of ChatGPT, interest and investments in generative AI models have surged. Which players stand to gain the most…

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How to Bring Good Ideas to Life: The Paul English Story

Brian Kenny: It's hard to find a better example of an inventive genius than Thomas Alva Edison, creator of the light bulb, the phonograph, alkaline batteries, x-rays, and over a thousand other devices that changed the world. And he was equally prolific in business, launching over 100 companies to promote his inventions. But there was just one thing, Edison was a terrible manager. He took enormous risks to grow his…

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Civility Partners at 15 Years!

2024 marks an incredible milestone for us—our 15th-anniversary celebration! Yes, you read that right—15 years of making a positive impact on over 270 organizations served, thousands of employees, and millions of people worldwide! Thanks to the vision of our founder and CEO, Catherine Mattice. Our History Catherine started Civility Partners in 2009 with one mission – building a community of thriving individuals, starting at the place they spend the majority…

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Playing Nice in the Sandbox: FDA (Finally) Harmonizes Medical Device Manufacturing Requirements With ISO

On February 2, 2024, the US Food and Drug Administration (FDA) published a much-awaited final rule: the Quality Management System Regulation (QMSR).1  By issuing this rule, FDA amended the medical device current good manufacturing practice (cGMP) requirements of 21 CFR Part 820 – the Quality System Regulation (QSR) – to align more closely with the quality management system (QMS) requirements used by other countries. The QMSR incorporates by reference the…

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  • Reading time:12 mins read
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Will the Shifting Economic Power Balance Topple Democracy?

Changes in the graph (Figure 2) may result from changes in the relative share of global GDP of a country (even if the democracy scores are constant) or from changes in the individual democracy scores (even if GDP shares are constant). For example, from the late 1970s to 1989, the western world was growing much faster than the Soviet Union, and because of this, the world democracy score weighted by…

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Where is customer care in 2024?

Customer care leaders are facing their greatest challenge in decades. They must prepare their organizations for an AI-enabled future while simultaneously meeting tough commercial targets and rising customer expectations. Our latest global survey suggests that many companies are struggling on all these fronts.Major disruptions are always painful, and the transition from a care paradigm dominated by human agents to one steered by AI technologies may be the biggest disruption in…

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2024 Wine, Spirits, and Beer Industry Trends

  As we begin 2024, the wine, spirits, and beer industry is still reeling with the changes in the aftermath of the pandemic. The greatest challenge facing the industry is dealing with the ever-changing ebbs and flows of alcohol consumption trends and demands. As consumers adjusted to a more home-centered lifestyle with remote working and lockdowns, the demand for convenient purchases grew.  However, even though we’ve returned to a more…

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Let’s Get to Work

Topics Leadership Leading Change Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Jon Krause Our ambition at MIT Sloan Management Review is to arm business leaders with information to make a positive impact: on your organizations and careers, for sure, and also on your employees, customers, trading partners, and the broader world within which you…

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Proposed New Jersey Bill Would Lower Harassment Standard and Mandate Anti-Harassment Policy and Training

Seyfarth Synopsis: A pending bill in New Jersey’s legislature would significantly lower the standard for establishing harassment claims and require employers to implement anti-harassment training and policies and report complaint data to a government agency. Earlier this year, New Jersey legislators introduced Assembly Bill 2443 (“AB 2443” or the “Bill”), which if passed, would significantly reduce the standard for harassment claims under the New Jersey Law Against Discrimination (“NJLAD”) and…

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Tennessee Federal Court Issues Preliminary Injunction Blocking NCAA’s NIL Restrictions

Quick Hits A federal district court in Tennessee recently issued a preliminary injunction enjoining enforcement of the NCAA’s NIL-recruiting ban with respect to student-athletes. The court found that the ban limited student-athletes’ negotiation leverage and prevented them from understanding “their true NIL value.” The court held that the recruiting ban likely violated federal antitrust law and that irreparable harm would be done to the states’ student-athletes if the ban were…

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How Used Products Can Unlock New Markets: Lessons from Apple’s Refurbished iPhones

Some of Apple’s most loyal customers think nothing of upgrading to the latest iPhone every time one comes out. But what about consumers who can’t splurge on a $1,000 iPhone 15 Pro? And what about the electronic waste that would accrue if people threw away functional phones?Long before there were titanium phones with bionic chips, Marcelo Claure, then head of the telecom firm Brightstar, saw an opportunity. A few years…

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Major investment in doctoral training announced

The 65 Engineering and Physical Sciences Research Council (EPSRC) Centres for Doctoral Training (CDTs) will support leading research in areas of national importance, including net zero, AI, defence and security, healthcare and quantum technologies. The £1 billion in funding – from government, universities and industry – represents the UK’s biggest-ever investment in engineering and physical sciences doctoral skills.The University of Cambridge will lead two of the CDTs and is a…

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6 Mistakes to Avoid During Strategy Execution

When an organization has successful strategy execution, it is more likely to go from good to great. Strategy to execution affects every part of a business, and its effective use is essential for not only an organization’s success but its survival. A strategy to execution approach is specifically designed to help a business transform its […] The post 6 Mistakes to Avoid During Strategy Execution appeared first on Accelare.

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Future of Retail

1. Smart environments The widespread adoption of IoT devices and sensors will create interactive store environments that respond to individual customers. These environments could adjust lighting, music, and product displays based on customer preferences, creating a truly unique and immersive shopping experience. 2. Biometric identification and payment As biometric technology advances, customers may use their unique physical traits (e.g., fingerprint, facial recognition) for identification and secure payments. This would eliminate…

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Reality Check: Deglobalization

Radar Amid supply chain disruptions and geopolitical tensions, is the U.S. less reliant on imports than it used to be? Omri Nahmias March 11, 2024 Reading Time: 2 min  Topics Radar Brief insights on emerging trends in management from the opening pages of MIT Sloan Management Review’s quarterly print magazine. More in this series subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images It’s been a rough few years for…

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OFCCP Proposes Changes to Construction Contractor Scheduling Letter and Contract Award Notification Requirement Form

Quick Hits Covered construction contractors may be required to provide additional data and documentation in response to the construction compliance review scheduling letter and itemized listing. Covered construction contractors may be required to provide additional information on Form CC-314 about new construction contract awards that exceed $10,000. Comments on the proposals are due no later than April 26, 2024. As set forth in its notice and comment request of February…

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Is Your Workplace Biased Against Introverts?

Managers almost universally say they want to see passion in their employees. Yet sometimes, they can’t spot it when it’s right in front of them.Extroverted employees are more likely to be considered passionate compared to more introverted colleagues—even if it’s not true—according to recent Harvard Business School research. That’s because they tend to demonstrate their feelings more, using cues like animated facial expressions, while introverts come off as more aloof…

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Why Every Leader Needs to Worry About Toxic Work Culture

Employees quit their jobs for different reasons, and a major one is because of a toxic workplace environment. In fact, researchers discovered that between April and September 2021, toxic culture was the main reason why employees decided to leave their jobs. A toxic work culture refers to a situation where negative behaviors are tolerated within an organization. It can quietly harm employee happiness, stop new ideas from flourishing, and weaken…

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What can we expect in China in the year of the dragon?

As 2024 gains momentum, it’s significant to note that this year is marked by the Year of the Dragon according to the Chinese zodiac. The dragon, symbolizing strength and good fortune, frames the backdrop for China’s journey forward after a challenging 2023. The previous year saw China navigating the aftermath of the pandemic, with its economy starting to recover from stringent lockdowns and travel restrictions.Despite substantial challenges in the real…

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Order from Chaos: Is It Possible to Overcome Global Disorder in the World by 2040?

For the 2024 World Youth Festival in Sochi, a group of young experts under the auspices of the Valdai Discussion Club prepared a report titled “Charting the 2040: Younger Generation Insight on the World in the Making”. This report left a very favourable impression; it is thought-provoking and represents a very interesting model for the future development of the world. We have previously responded to the part of it dealing…

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Your Dream Job May Not Exist (and That’s Okay)

For decades, the mantra “follow your passion” has been one of the most popular pieces of career advice. Ever since Steve Jobs famously told Stanford graduates back in 2005 to “find what you love”, university students have been nudged to pursue careers that align perfectly with their personal interests. But this approach can be misguided.  For many of us who do not know exactly what we like or want to…

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  • Reading time:9 mins read
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Bringing innovation to a not-for-profit setting

In this episode of The Committed Innovator, American Red Cross chief innovation officer Sajit Joseph speaks with McKinsey innovation leader Erik Roth about the challenges and opportunities involved with innovation in a not-for-profit setting, where the goal is return on impact and teams can include volunteers. This is an edited transcript of their discussion. You can listen to the full episode on your preferred podcast platform. Every time we go…

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How to Spot the Next Technology Breakthrough

If your company is working on a new technology that has yet to pass this inflection point, what must happen to get you there?The evolution of new technologies follows an S-curve. In the beginning, there is a long incubation period during which technological development and use are confined to basic science. This period is characterised by high uncertainty about the technology’s performance and there is virtually no confidence in the…

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