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Too few COOs have a defined agenda that reflects the role’s unique responsibilities. Here’s how to start.
If you wanted to boil down 2023 to one concept, it would have to be generative AI (gen AI). Few of us can remember a technology that has swept through the business community with such speed and impact. Hardly a day passes without a new development hitting the headlines. While still blanketed with caveats and unknowns, […]
Generative AI can empower people—but only if leaders take a broad view of its capabilities and deeply consider its implications for the organization.
It’s no surprise that trust is at the core of high-performing teams. But conversations about cultivating trust at work often focus on the relationship between managers and employees. As important — if not more so — is establishing trust between teammates. To understand how the best teams build trust among themselves, researchers interviewed 1,000 U.S.-based […]
Many managers view strategy as a complex subject, but at its essence it boils down to three questions: Where are we now? Where do we want to go? What is a credible path to get there? To successfully use these questions to chart a course, people must be brutally honest with themselves about where they […]
In corporate strategy projects, executive leadership teams work through a series of questions to determine how their businesses can succeed. Individuals can use a similar process to figure out how to live a meaningful life. It starts with defining what makes a great life for you and then outlining your purpose and vision. You must […]
Many businesses struggle to convert inertia into potential energy at the start of a new calendar year. But just imagine if you could close the business year on a high with maximum energy and enough momentum to carry you into the next. One of the best ways to end the year on a high is […]
The potential macroeconomic benefits of generative artificial intelligence and machine-learning technologies are staggering, on par with transformative technologies that fed the industrial revolution or the information age. Generative AI, by some estimates, stands to double the rate of U.S. productivity growth after a decade of widespread adoption and add trillions of dollars a year to […]
Formulas may be road-tested approaches to business challenges, but formulas have flaws. What worked yesterday might not be applicable or even plausible today. There are three primary weaknesses to relying on formulas to address business issues in a constantly changing environment: 1.) they don’t work the same in all contexts; 2) they can be replicated […]
When you’re starting a new leadership role, you have the opportunity to cultivate a tone of trust and respect with those who are following you. Establishing this partnership begins with understanding the concepts and considerations of self-awareness in how you will manage others from the beginning. It is nearly impossible for a leader to be trusted […]
Do you keep postponing work you need to do? The problem probably stems from one of three things: your habits and systems (or lack thereof), your desire to avoid negative emotions (like anxiety and boredom), or your own flawed thinking patterns (which can make a task seem harder than it is). Luckily, there are simple […]
Chief executives are responsible for guiding corporations, so the role inevitably requires making many decisions. But people overestimate the level of personal involvement CEOs have in this process. Instead of making decisions, CEOs tend to shape decisions, by designing the process, choosing when to participate directly, and monitoring the work — a selective process that […]
Given the staggering pace of generative AI development, it’s no wonder that so many executives are tempted by the possibilities of AI, concerned about finding and retaining qualified workers, and humbled by recent market corrections or missed analyst expectations. They envision a future of work without nearly as many people as today. But this is […]
Scholars of decision-making have long recommended that CEOs and managers gather and analyze comprehensive information before making choices. This advice is based on two assumptions: (1) More information leads to better understanding of the decision at hand and possible consequences, and (2) an emphasis on gathering information rather than relying primarily on one’s own knowledge may reduce […]
Recent global turbulence raises a question: Is the world shifting to a new economic regime for the long run? New McKinsey Global Institute (MGI) research and a recent McKinsey executive survey1 suggest that it might be, but the shape of that future remains uncertain. Business leaders should be aware of potential scenarios so they can adjust and […]
A successful decision-making process has three steps: Framing the decision, generating alternatives, and deciding between them. Large language models can help at each stage of the process. But while it may be tempting to merely ask ChatGPT for answers, the real power of LLMs is how they can assist at each stage. Ask for help […]
The pandemic undoubtedly changed how marketers approach channel strategy, and there is no single route to success. With more channels than ever, marketers need to map which channels add clear value and forget the rest. It can be tempting to enter a channel because your competitors are there. But with limited customer time and attention, […]
A lack of constructive feedback is detrimental to your team, depriving them of mentorship and growth opportunities. And workplaces marked by poor communication and unclear expectations are breeding grounds for low trust and disengagement. Giving feedback is essential to being an effective leader. In this article, the author offers five ways to overcome your fear […]
Has your team lost sight of its purpose and the goals you’re working toward together? If so, it might be time for a team reset that focuses on realignment. Or, maybe your team just doesn’t feel like a team anymore? Maybe team members feel disconnected, invalidated, or frustrated, and even minor issues are creating friction? […]
Are you a great CEO, or just a good one? New research shows that the leaders who truly excel have a set of distinctive mindsets and practices. In this episode of the Inside the Strategy Room podcast, McKinsey senior partners Carolyn Dewar and Scott Keller discuss the six dimensions that separate exceptional CEOs from the rest of the […]
Acquisitions and alliances are two pillars of growth strategy. But most businesses don’t treat the two as alternative mechanisms for attaining goals. Consequently, companies take over firms they should have collaborated with, and vice versa, and make a mess of both acquisitions and alliances. It’s easy to see why companies don’t weigh the relative merits […]
In a new analysis, we found that strong middle managers aren’t just nice to have for all the reasons we note; they are a business imperative. Organizations with top-performing managers yield multiple times the total shareholder returns (TSR) of those with average or below-average managers over a period of five years. In this article, we […]
Good one-on-one meetings between managers and their direct reports address the practical and personal needs of the employee, benefitting their performance, growth, and well-being, as well as the success of their team and the broader organization. However, since managers are typically the ones who run these meetings, the employee’s needs are often forgotten. Then it’s […]
CEOs want to know if they should act now—and, if so, how to start. Some may see an opportunity to leapfrog the competition by reimagining how humans get work done with generative AI applications at their side. Others may want to exercise caution, experimenting with a few use cases and learning more before making any […]
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