Reinvention or regrets? Hong Kong faces a fork in the road

On the 20th anniversary of its return to Chinese sovereignty, the territory needs to move faster to position itself for the future.
Reinvention or regrets? Hong Kong faces a fork in the road

The real story behind US companies’ offshore cash reserves

The healthiest thing to do is bring the cash home. But the details of who holds it and what would happen to it should shape the repatriation debate.
The real story behind US companies’ offshore cash reserves

Are Negative Emotions Brewing in Your Workplace?

Economic Conditions Snapshot, June 2017: McKinsey Global Survey results

Global executives see geopolitical issues as a rising risk to growth, but they remain more buoyant than downbeat in their outlook for both the global and domestic economies.
Economic Conditions Snapshot, June 2017: McKinsey Global Survey results

How to achieve and sustain the impact of digital manufacturing at scale

Although manufacturing leaders see the potential of digital, few have a clear strategy to capture its value. Three principles can help turn optimism into action.
How to achieve and sustain the impact of digital manufacturing at scale

European healthcare—a golden opportunity for private equity

A review of investment opportunities in Europe
European healthcare—a golden opportunity for private equity

Making it in America

The United States needs to regain its competitive edge in manufacturing while also grappling with its two-tiered labor market and finding ways to make economic growth more inclusive.
Making it in America

Ethics Should Proceed Action in Machine Intelligence

High-performing teams: A timeless leadership topic

CEOs and senior executives can employ proven techniques to create top-team performance.
High-performing teams: A timeless leadership topic

Why the Business Case for Sustainability Will Win Out

The closest look yet at Chinese economic engagement in Africa

Field interviews with more than 1,000 Chinese companies provide new insights into Africa–China business relationships.
The closest look yet at Chinese economic engagement in Africa

Finding a strategic cybersecurity model

Protecting critical and sensitive information is of paramount importance in business and government, but plans must be in place to handle inevitable breaches too.
Finding a strategic cybersecurity model

Balance Efficiency With Transparency in Analytics-Driven Business

Video: Best Practices in Data Security

On May 23, 2017, the MIT Sloan School of Management hosted the 14th annual CIO Symposium: “The CIO Adventure: Now, Next and… Beyond.” The one-day event brought senior IT executives together to discuss key technologies, including IoT, AI, blockchain, Big Data, DevOps, cloud computing, and cybersecurity. The main idea was to help prepare these tech leaders for challenges they face, including shepherding ongoing digital transformations, building a digital organization, and managing IT talent.

This series highlights insightful sessions from the event.

In an era where nearly every organization considers itself a technology company, cybersecurity is a top concern. What happens when private information is compromised? Keri Pearlson, executive director, MIT (IC)³, moderated the MIT CIO Symposium panel “You Were Hacked — Now What?” to discuss this issue. Speakers Andrew Stanley, chief information security officer at Philips, and James Lugabihl, director of information security at ADP, offered a series of suggestions for how to manage security breaches.

The panel also distinguished between a hack and a breach. A hack involves the compromising of a host, but the adversary is not looking to extract data from an organization, whereas a breach occurs when a company actually has lost control of information. As Stanley points out, hacking is an action, while a breach is an outcome. When a breach is suspected, there are specific steps a chief information security officer (CISO) or an operational lead will take to mitigate the situation.

At the outset of any cybersecurity event, ask why. Knowing context will determine if the event is significant enough to be shared with the C-suite and board. If the matter demands escalation, it’s especially important to give C-level stakeholders context around a security breach.

When a significant breach occurs, the first thing a cybersecurity leader should do is assemble the right team. A CISO will call on a crisis management team comprised of legal representatives, network scanners, penetration specialists, and others who can investigate the event. Stanley notes that the C-suite will likely want frequent status reports (as often as on the hour), and the crisis management team needs to work together to set proper expectations with executives and to analyze the data they’re receiving in order to provide accurate updates. It may also be necessary to contact insurers or law enforcement, depending on the situation.

The crisis management team will, of course, do many things. One key action will be to look for trends. Investigating and correcting a situation unfolds over weeks, not hours, and identifying any patterns between the breach at hand and other events could prevent future incidents.

Finally, think about ways to prevent future incidents. While Lugabihl acknowledged that there really isn’t a foolproof way to protect organizations from future breaches, both panelists articulated some steps to take. Education is perhaps the most tangible. Stanley pointed to one example of a company that runs phishing campaigns; they send staff three fake malware emails to test their awareness of cybersecurity issues. If anyone clicks a link in a communication, he receives a message explaining the better way to manage phishing scams.

Video: Best Practices in Data Security

What CEOs are reading in 2017

Leaders of some of the world’s biggest organizations share which books will keep them occupied in the weeks ahead.
What CEOs are reading in 2017

The road to renewal: How to rebuild America’s infrastructure

America’s approach to planning, financing, building, and maintaining public infrastructure is fragmented and inefficient. Here is how to improve it.
The road to renewal: How to rebuild America’s infrastructure

A machine-learning approach to venture capital

In this interview, Hone Capital managing partner Veronica Wu describes how her team uses a data-analytics model to make better investment decisions in early-stage start-ups.
A machine-learning approach to venture capital

Turning indirect sourcing into a multimillion-dollar profit center

Retail is facing massively declining margins and is struggling—and losing—against e-commerce. We highlight the case for change, and offer guidelines on getting next-generation, business-backed not-for-resale sourcing.
Turning indirect sourcing into a multimillion-dollar profit center

Sovereign-wealth funds: The future is collaborative

New Zealand Super Fund CEO Adrian Orr discusses thematic investing, innovation, and why it pays to be true to foundational principles.
Sovereign-wealth funds: The future is collaborative

How to turn marketing efficiency into growth

At Western Union, fueling growth starts with taking a hard look at how effective current marketing programs are. Chief Strategy, Product and Marketing Officer Libby Chambers explains how it’s done.
How to turn marketing efficiency into growth

Upgrading your business to a digital operating system

One element of a successful digital transformation is developing a new way of operating that relies on the right talent, prioritizing speed, and targeting milestones.
Upgrading your business to a digital operating system

How Airbus is navigating a digital transformation

The commercial aircraft manufacturer is charting a course to software and services, focusing on creating new data-driven models to complement its hardware platforms.
How Airbus is navigating a digital transformation

How technology is reshaping supply and demand for natural resources

The ways we consume energy and produce commodities are changing. This transformation could benefit the global economy, but resource producers will have to adapt to stay competitive.
How technology is reshaping supply and demand for natural resources

Untangling your organization’s decision making

Any organization can improve the speed and quality of its decisions by paying more attention to what it’s deciding.
Untangling your organization’s decision making

The Critical Difference Between Complex and Complicated

Reinventing equity research as a profit-making business

The traditional business of providing equity research to asset managers has been under pressure in recent years. Nonetheless, equity research still offers an attractive business opportunity for banks and broker-dealers that can adapt to deliver the types of research the buy side values and successfully transform their operating models.
Reinventing equity research as a profit-making business

The power of parity: Advancing women’s equality in Canada

Canada, a global leader on gender equality, has seen progress stall over the past 20 years. Further tapping into women’s potential could reenergize Canada’s economy and its businesses.
The power of parity: Advancing women’s equality in Canada

The future of HR in oil and gas

The war for traditional technical talent is now less fierce, while intensifying for new skill types. We see three themes for HR of the future in oil and gas, with implications for HR strategy and operating model.
The future of HR in oil and gas

Stress testing for nonfinancial companies

According to new survey results, exploring the more subjective side of investment decision making yields five elements that correlate closely with outperformance.
Stress testing for nonfinancial companies

The future(s) of mobility: How cities can benefit

Autonomous vehicles, electric powertrains, vehicle sharing, and other advances are transforming urban mobility. Planning ahead can help cities capture the benefits of the shift, from cleaner air to easier journeys.
The future(s) of mobility: How cities can benefit

Romantic and Rational Approaches to Artificial Intelligence

Leading to Become Obsolete

Winning the recovery: Sustainably holding down costs in an upturn

In the downturn, efficiency became O&G’s priority. But as prices rise, cost discipline can be lost. Successful producers will bring the lessons of the downturn into the recovery.
Winning the recovery: Sustainably holding down costs in an upturn

What talent management can do to shape next-generation pharma leaders

A Sanofi executive discusses his company’s leadership-development programs and approach to building employee capabilities amid rapid change.
What talent management can do to shape next-generation pharma leaders

Customers’ lives are digital—but is your customer care still analog?

Digital customer care is still new territory for many companies. They can learn a lot from the natives.
Customers’ lives are digital—but is your customer care still analog?

Augmentation versus Automation: AI’s Utility in the Workplace

Creativity’s bottom line: How winning companies turn creativity into business value and growth

Top-performing companies use four key management practices to turn creativity into value.
Creativity’s bottom line: How winning companies turn creativity into business value and growth

Reimagining supply-chain collaboration in a low-oil-price environment

A new approach to collaboration, within a company, between suppliers, and across the industry, could unlock savings that would increase profitability and safety.
Reimagining supply-chain collaboration in a low-oil-price environment

McKinsey Quarterly 2017 Number 2: Overview and full issue

This issue of the Quarterly, available here as a PDF download, connects the dots among global trends, offers advice for CEOs on how to become more successful leaders, and explores digital reinvention.
McKinsey Quarterly 2017 Number 2: Overview and full issue

Inspiring Employee Creativity

Implications of a border adjustment tax

The US is debating a number of trade and tax proposals, including a border adjustment tax (BAT) that could significantly affect both crude and refined product markets.
Implications of a border adjustment tax

How artificial intelligence can deliver real value to companies

Companies new to the space can learn a great deal from early adopters who have invested billions into AI and are now beginning to reap a range of benefits.
How artificial intelligence can deliver real value to companies

A new emphasis on gainful employment in India

As India’s labor market shifts, it is time to focus on improved quality of work and the income derived from it, not simply the number of jobs being lost or created.
A new emphasis on gainful employment in India

What’s next for pharma in emerging markets?

Succeeding in emerging markets has been a challenging undertaking for multinational pharma companies, but those that adapt their end-to-end model for emerging markets could well thrive.
What’s next for pharma in emerging markets?

Digital Innovation Lights the Fuse for Better Health Care Outcomes

The benefits of thinking like an activist investor

Whether or not your company is in the crosshairs of activists, assembling a team to take a good, hard look at your performance can deliver benefits.
The benefits of thinking like an activist investor

The future of grocery—in store and online

As so much of everyday life moves to the Internet, including grocery shopping, grocers must find profitable ways to revive the in-store experience while enhancing online options.
The future of grocery—in store and online

Performance Management System Scorecard KPIs Metrics Templates Infographic

Performance Management Performance management is known as an continuing steps involved in communication between supervisors and employees occurring all year round, supporting achieving the strategic goals in the business. It’s continuous process which develops all year long. Performance Management practice is actually a never-ending cycle, by means of interactions differing from year to year in […]
Performance Management System Scorecard KPIs Metrics Templates Infographic

Webinar on June 14: Faster Results From Supply Chain Analytics

Most companies employ supply chain analytics. But to get better strategic, operational and tactical decisions from these analytics, the majority have found they need to decrease their “Analytics Insight Cycle Time” — the time required to identify a supply chain challenge or opportunity, perform the analytics to understand, transform those analytics into insights and then implement them.

On Wednesday, June 14 at 1 p.m. EST / 10 a.m. PST, join MIT SMR authors Melissa Bowers, Adam Petrie, and Mary Holcomb as they discuss the phases of Analytics Insight Cycle Time, present case studies for actual success and steps that supply chain executives can take to reduce cycle time, and to ultimately make supply chain analytics a transformational and competitive resource in their organizations.

Register to watch live or receive the on-demand recording.

In the webinar, the authors will discuss:

• The five key levers critical to minimizing the Analytics Insight Cycle Time
• How leading companies have successfully tackled this issue
• How to translate supply chain analytics into actionable insights

Register to watch live or receive the on-demand recording.

Webinar on June 14: Faster Results From Supply Chain Analytics

Using Scenario Planning to Reshape Strategy

How to Catalyze Innovation in Your Organization

Building a Winning Business Model Portfolio

Create Your Company’s Future

Landing the megadeal: Seven keys to closing big sales that make money

Your salesforce needs help to remain objective, build trust, get the price right, and keep selling until the deal is done.
Landing the megadeal: Seven keys to closing big sales that make money

For top sales-force performance, treat your reps like customers

Companies that excel at sales growth are tightly focused on developing the talent they need by understanding how sales reps really work.
For top sales-force performance, treat your reps like customers

Automation at scale is driving transformative change across insurance

Advances in robotics, cognition, artificial intelligence, and machine learning are ushering in a new era of automation. Machines can now match or outperform humans across a range of activities in a number of industries, including insurance.
Automation at scale is driving transformative change across insurance

Mastering the new realities of India’s banking sector

Banking in India is at a crossroads. Players that face the challenges head on and harness digital growth could scale up world-class businesses.
Mastering the new realities of India’s banking sector

Mastering the Make-in-India Challenge

Manufacturing Metrics Scorecards KPI Management Dashboard Reporting in Excel

Manufacturing Scorecard KPIs Management Reporting Templates   Manufacturing scorecard best practices These days, companies evaluate the results based upon various key performance indicators or KPIs. The manufacturing scorecard can be an enterprise application for your analysis and communication connected with strategic goals and the KPIs. Your Manufacturing Scorecard should use a well defined manufacturing metrics […]
Manufacturing Metrics Scorecards KPI Management Dashboard Reporting in Excel

The Silicon Valley Caravan: What Sets the Tech Upstarts Apart?

Risk analytics enters its prime

All the ingredients are in place for unprecedented advances in risk analytics. Now it’s up to banks to capture the opportunities.
Risk analytics enters its prime

The expanding role of design in creating an end-to-end customer experience

Lines between products, services, and user environments are blurring. The ability to craft an integrated customer experience will open enormous opportunities to build new businesses.
The expanding role of design in creating an end-to-end customer experience

Supply Chains Built for Speed and Customization

How the Natural Resources Business is Turning into a Technology Industry

The adoption of robotics, internet-of-things technology, and data analytics — along with macroeconomic trends and changing consumer behavior — are fundamentally transforming the way resources are consumed, write Jonathan Woetzel and Scott Nyquist in Harvard Business Review.
How the Natural Resources Business is Turning into a Technology Industry

Payments: On the crest of the fintech wave

Multiple forces, including technology and demographics, are dramatically reshaping the payments value chain, and opening the industry to potential disruption from fintechs. Incumbents have a number of strong options for addressing this disruption. Those that think deeply about how the industry is evolving and take early action will fare best.
Payments: On the crest of the fintech wave

Battery storage: The next disruptive technology in the power sector

Low-cost storage could transform the power landscape. The implications are profound.
Battery storage: The next disruptive technology in the power sector

Perpetual evolution—the management approach required for digital transformation

Companies that commit to continually updating their enterprise architectures can deliver goods and services as fast as Internet-born competitors do.
Perpetual evolution—the management approach required for digital transformation

When Some Leaders Fail, Others Must Rise

Looking beyond finance

Global leaders in infrastructure development confront a multi-trillion dollar gap in investment. New analysis from MGI estimates US$69 trillion of investment will be needed between now and 2035, write Jan Mischke and Diaan-Yi Lin in The Business Times of Singapore.
Looking beyond finance

How Filipino consumer businesses can boost performance

Growth and profitability have slowed down for large consumer companies. To tap into rising consumer spending, they’ll need to find new markets and refocus on fundamentals.
How Filipino consumer businesses can boost performance

Don’t Give Up on Corporate Culture

As corporations become increasingly flat and networked, and as more people operate as “affiliates” rather than as “employees,” managers and academics alike are wondering about the role of corporate culture in the future. Given that many workers will be contractors located remotely and much collaboration will be project-based, will organizations be able to establish behaviors and shared beliefs that keep everyone marching in the same direction? In a short essay titled “The End of Corporate Culture as We Know It” (which appears on page 1 of this issue and was published earlier this year on the MIT Sloan Management Review website), MIT SMR editor in chief Paul Michelman voiced doubts about the long-term viability of corporate culture, which has been an organizational staple for more than 50 years. As Michelman put it, “We are embarking upon a time when the ‘way we do things’ will be reinvented with each new collaboration.”

The question of what happens to corporate culture in a world where teams come together and dissolve as opportunities rise and fall has triggered a lively debate among visitors to MIT SMR’s website. A number of readers were not prepared to ring the death knell for corporate culture. “No organization is able to exist without [some shared identity] … no matter how distributed the system is,” wrote Patricia Galante de Sá, who owns a training and consulting firm in São Paulo, Brazil. “Essence and purpose will still be paramount.”

Another reader, Komal Mathur, general manager of human resources at Tata Consultancy Services Ltd. in Mumbai, India, argued that successful corporations have values that stand the test of time. “There is no denying the fact that cultures will become more vibrant and open than ever before,” wrote Mathur, who has spent more than 20 years working in information technology. However, she noted, “In my view, successful organizations are the ones that have enduring and resilient values…. While the organizational structure may become less hierarchical, a value such as ‘respect’ does not change.” Egbert Schram, managing director of itim International, an organizational consulting firm based in Helsinki, Finland, goes even further with this view: “In a world where there is less and less loyalty to employers (and employees), … proactively … managing a corporate culture to enable the organization to adapt to whatever is thrown its way will only become more important, not less.”

For some readers, the question comes down to the meaning of “culture.” David Blyth, a consultant and adjunct associate professor at the University of Western Australia, believes that strong cultures can sometimes be too rigid to respond to changes in the overall business environment, whereas less defined cultures can be more responsive to change. However, he observed that it “doesn’t suggest to me that culture becomes less relevant. It suggests to me we will see an increasing number of enterprises with more fluid, open, and innovative cultures.” Blyth thinks these cultures, while different, “will be every bit as important as the cultures of today’s important companies or those of bygone eras.”

Don’t Give Up on Corporate Culture

Africa: Mapping new opportunities for sourcing

Major market shifts are compelling businesses to consider new low-cost sourcing opportunities outside Asia. In many cases, Africa offers attractive alternatives.
Africa: Mapping new opportunities for sourcing

Pulp, paper, and packaging in the next decade: Transformational change

If you thought the paper industry was going to disappear, think again. Graphic papers are being squeezed, but the industry overall has major changes in store and exciting prospects for new growth.
Pulp, paper, and packaging in the next decade: Transformational change