Data skills — the skills to turn data into insight and action — are the driver of modern economies. According to the World Economic Forum, computing and mathematically-focused jobs are showing the strongest growth, at the expense of less quantitative roles.
So whether it’s to maximize the part we play in data-driven economic growth, or simply to ensure that we and our teams remain relevant and employable, we need to think about transitioning to a more data-skewed skillset. But which skills should you focus on? Can most of us expect to keep pace with this trend ourselves, or would we be better off retreating to shrinking areas of the economy, leaving data skills to the specialists?
One of the hardest things about introducing innovation or change in organizations is getting people on board. This is especially true in health care.
As health care organizations are being pressured to cut costs, reduce medical errors, and adopt both standardized processes and new innovations, providers are being asked to give up established and comfortable ways of working. They are having to spend more time on documentation, see more patients in a day, and use unfamiliar processes and tools. For many staff, physicians, and nurses, these changes mean less time healing patients and fostering wellness — the reasons they became health care professionals. Naturally, many start to question the direction of their organization, as these new behaviors and practices appear to conflict with the values of their profession.
When staff view innovations and changes as clashing with longstanding patient care values, they are less likely to adopt new behaviors
Every year or two I refresh the formatting on this website along with a few others that I help manage and generate content for. I work with a great firm called Valet that I really like and everything is hosted on Pantheon, so the process works smoothly for me.
As part of this, each of them now has a separate subscribe by email option in addition to an RSS feed. If you want to skip searching for it and just subscribe, click on the following links as you desire.
Vice President Pence just made it all but official: The United States is in a cold war with China. Fed up with Beijing’s industrial espionage, market manipulation, and cyber attacks on the West, coupled with its bullying of neighbors and repression at home, the Trump administration announced a series of strong steps to fight back.
Since the Chinese think their time on the global stage has come, they aren’t likely to back down anytime soon. That spells trouble for American manufacturers with global supply chains. Undoubtedly, it will accelerate the reshoring of items now sourced in China. As companies rethink their supply chains, they ought to seriously consider embracing a new manufacturing technology that’s now ready for prime time: 3-D printing.
No longer relegated to trinkets and prototyping, 3-D printing, which is also called additive manufacturing, is now moving into mass production. Printer makers have
Big businesses struggling in an era of rapid transformation can learn a lot from the experiences of social entrepreneurs finding and adapting innovative solutions in difficult contexts. In the 1990s, when Afghanistan was being ravaged by war, a bootstrapped initiative started by a former refugee was able to succeed where multi-million dollar projects funded by governments and large-scale development organizations could not. Believing that the best route to long-term empowerment for women was through education, Sakena Yacoobi created an underground network of schools that operated out of private homes. Despite resistance from local militias to allowing women to attend school, the project grew over time to help millions of children attain invaluable literacy and critical thinking skills. As the winner of the WISE Prize for Education in 2015, Yacoobi’s initiative is one of many that we at Qatar Foundation support to harness the potential of innovation for social development.
The feedback in the 360-degree reviews was supposed to be anonymous. But it was crystal clear who’d made the negative comments in the assessment of one executive.
Lance Best, the CEO of Barker Sports Apparel, was meeting with Nina Kelk, the company’s general counsel, who also oversaw human resources. It had been a long day at the company’s Birmingham, England, headquarters, and in the early evening the two were going over the evaluations of each of Lance’s direct reports. Lance was struck by what he saw in CFO Damon Ewen’s file. Most of the input was neutral, which was to be expected. Though brilliant and well respected, Damon wasn’t the warmest of colleagues. But one person had given him the lowest ratings possible, and from the written remarks, Lance could tell that it was Ahmed Lund, Barker’s head of sales. One read: “I’ve never worked with a bigger
Social media can connect us to new ideas, help us share our work, and allow previously unheard voices to influence culture. Yet it can also be a highly addictive time-sink if we’re not careful about our goals,purpose, and usage.
Over the last two years, I conducted four different experiments to monitor my own behavior, implementing trackers and blockers in order to better understand how social media usage affected my productivity. My goal was to see if by interrupting my daily behavior I could change my “default settings” and have more time for deep, focused work.
In the end, these four experiments opened my eyes about my relationship to social platforms, and taught me effective strategies to maximize the benefit of these social tools while limiting the downsides.
One of the claims made by people is that the millennial generation doesn’t care about return on investment. I think that will be a short lived phenomena. ROI is one of the unbiased metrics you can use to analyze a portfolio. People who don’t care about ROI are people who don’t need ROI.
Here is a case in point. I went to Ycharts and charted Altria which is a tobacco company, the S&P, and an index of solar stocks for the last ten years. I picked solar because it’s a “feel good about yourself I don’t care about return category”. Here are the results.
I am sorry. If you were 21 in 2008 and put money into solar and then looked back ten years at 31 you might wonder if you should have a chat with your 21 year old self. Imagine if you are Continue reading "Return On Investment"
Youngme Moon, Mihir Desai, and Felix Oberholzer-Gee are back with Season 2 of After Hours! In this episode, they debate whether the federal minimum wage should be raised, offer their personal reflections on a year of the #MeToo movement, and share their picks for the week.
HBR Presents is a network of podcasts curated by HBR editors, bringing you the best business ideas from the leading minds in management. The views and opinions expressed are solely those of the authors and do not necessarily reflect the official policy or position of Harvard Business Review or its affiliates.
When interviewing for your next job, how can you impress your recruiter and increase your chances of securing a job offer? Of course you may wish to emphasize your ambitions and goals you hope to achieve as a result of working at the company — your extrinsic motivation for the job. But to what extent should you also emphasize your love for your work and what you hope to achieve as part of the process of working at the company? This comprises your intrinsic motivation for the job, and most of us understand how important it can be to sustained engagement at work; but do recruiters care to hear this?
Our research suggests that they do — and that job applicants aren’t taking advantage of that. Indeed, we have found that people fail to predict the power of such a statement of intrinsic motivation on the impression they
Customer experience (CX) goes beyond measuring the relationship between customers and companies; it is also about quantifying the hundreds of regular interactions and residual memories that influence future behavior. Specific tools like journey mapping and touchpoint management are keys that employees can use to unlock the code for many in-store and in-person experiences. But it’s important for your team to understand the context in which data is being used to make company-wide decisions.
Medicine involves leadership. Nearly all physicians take on significant leadership responsibilities over the course of their career, but unlike any other occupation where management skills are important, physicians are neither taught how to lead nor are they typically rewarded for good leadership. Even though medical institutions have designated “leadership” as a core medical competency, leadership skills are rarely taught and reinforced across the continuum of medical training. As more evidence shows that leadership skills and management practices positively influence both patient and healthcare organization outcomes, it’s becoming clear that leadership training should be formally integrated into medical and residency training curricula.
In most professions, the people who demonstrate strong leadership skills are the ones who take on greater leadership responsibilities at progressive stages of their careers. In medicine, physicians not only begin managing and directing teams early in their careers, but they rise through the ranks uniformly.
Artificial intelligence (AI) is engendering all kinds of breathless headlines, from being able to play Go to spotting rare cancer tumors. But how will AI impact the economy in broad terms? The answer hinges on both on what AI can be used for and the dynamics of a competitive race to adopt AI that’s set to unfold between firms.
New research from the McKinsey Global Institute simulates the potential global macroeconomic impact of five powerful technologies (computer vision, natural language, virtual assistants, robotic process automation, and advanced machine learning). It finds that AI could (in aggregate and netting out competition effects and transition costs) deliver an additional $13 trillion to global GDP by 2030, averaging about 1.2% GDP growth a year across the period. This would compare well with the impact of steam during the 1800s, robots in manufacturing in the 1900s, and IT during
“Don’t believe everything you hear” is good advice — especially in an era of fake news and alternative facts. The same goes for managers who often rely on social-sentiment analysis to get a handle on what consumers think of their brands.
Social-sentiment analysis is the process of algorithmically analyzing social posts, comments, and behaviors and categorizing them into positive, negative, or neutral. Many companies use it to understand how their customers are feeling about their brands.
We recently conducted an extensive social-sentiment analysis with a team of researchers at Boston University’s Emerging Media Studies program as part of our Experience Brand Index research this past spring. In that research, we asked 4,000 consumers in the United States and United Kingdom about their actions and interactions with a wide range of brands over the last six months. These experiences were rated across more than a dozen dimensions, and we
At Chicago Booth they have had the New Venture Challenge (NVC) for a long time now. A friend of mine who is a local VC here in Chicago once told me you’d have a pretty good fund going long the winner of the NVC year after year.
In a brand extension, Booth has created the Social New Venture Challenge (SNVC) and the Global New Venture Challenge (GNVC). Critics might say it dilutes the brand but the truth is innovation can happen anywhere, not just the full time MBA program. Booth attracts some pretty high quality people in all of its programs. You might say you’d have a pretty strong network if you just networked with people who graduated from Chicago Booth.
Since my classmates and I started Hyde Park Angels in 2007, entrepreneurship has become one of the top concentrations at Booth. It used to be finance.
Divya, a director who leads a large engineering team, was invited to a two-day retreat with the CEO and senior executives of her Fortune 50 company. She and 30 of her high-potential peers were excited to rub shoulders with the leadership team.
The purpose of the retreat was to expose up-and-coming leaders to broader challenges, expand their network across silos, and, of course, give them an opportunity to connect personally with C-suite executives.
The session kicked off with participants dividing into small teams to tackle company-wide strategic challenges. This was a rare opportunity to present directly in front of the CEO, so Divya and her teammates worked hard to research their assigned topic, frame the specific challenge, and debate different ideas and solutions. Instead of hanging out at the bar after dinner, they worked far into the night finalizing their presentation. Divya was selected as the spokesperson
2018 has so far been another gangbuster year for biotech IPOs: the first three quarters of the year have delivered nearly 50 new biotech offerings, reinforcing the strong new issuance performance of the past 6 years.
With lots of pundits raising concerns about the market overheating with positivity on good days, or over-selling negativity on bad days, it’s worth reflecting on how the data this year actually matches up in terms of post-IPO share performance versus prior years.
Geoffrey Porges at Leerink recently put out a great report looking at the entire IPO window from 2013-2018 and the returns generating by new biotech offerings. It’s as you might expect: the measure of central tendency of the performance distribution (medians, means) are not attractive, but, the best winners, roughly 20% at the top and reflective of the Pareto power law, captured most of the share price and valuation gains.
John Kerry, former U.S. Secretary of State, shares management and leadership lessons from his long career in public service. He discusses how to win people over to your side, bounce back from defeats, and never give up on your long-term goals. He also calls on private sector CEOs to do more to solve social and political problems. Kerry’s new memoir is Every Day Is Extra.
I recently stood in front of a group of emergency room residents at my hospital and asked an unusual question. “Has any of you ever judged your attending physician for not trying hard enough to save a patient’s life?” Then I looked around the room. But like every time I’d given this presentation, there were no takers.
I can’t say I was surprised. I was piloting a new program which uses storytelling to help young doctors reflect on how they handle the emotional and psychological toll of caring for suffering patients. In my experience, engaging in honest exchange about these dimensions is rare in medical culture—in fact, it is tacitly discouraged.
“Well, let me tell you about a time when I was that attending,” I said. Then I steeled myself, and launched into my story.
The patient was a young woman, healthy up until the moment of her