Have you ever asked why it’s so difficult to get things done in business today—despite seemingly endless meetings and emails? Why it takes so long to make decisions—and even then not necessarily the right ones? You’re not the first to think there must be a better way. Many organizations address these problems by redesigning boxes and lines: who does what and who reports to whom. This exercise tends to focus almost obsessively on vertical command relationships and rarely solves for what, in our experience, is the underlying disease: the poor design and execution of collaborative interactions.
In our efforts to connect across our organizations, we’re drowning in real-time virtual interaction technology, from Zoom to Slack to Teams, plus group texting, WeChat, WhatsApp, and everything in between. There’s seemingly no excuse to not collaborate. The problem? Interacting is easier than ever, but true, productive, value-creating collaboration is not. And what’s more, where engagement is occurring, its quality is deteriorating. This wastes valuable resources, because every minute spent on a low-value interaction eats into time that could be used for important, creative, and powerful activities.
It’s no wonder a recent McKinsey survey found 80 percent of executives were considering or already implementing changes in meeting structure and cadence in response to the evolution in how people work due to the COVID-19 pandemic. Indeed, most executives say they frequently find themselves spending way too much time on pointless interactions that drain their energy and produce information overload.
Most executives say they frequently find themselves spending way too much time on pointless interactions.
Three critical collaborative interactions
What can be done? We’ve found it’s possible to quickly improve collaborative interactions by categorizing them by type and making a few shifts accordingly. We’ve observed three broad categories of collaborative interactions:
Decision making, including complex or uncertain decisions (for example, investment decisions) and cross-cutting routine decisions (such as quarterly business reviews)
Creative solutions and coordination, including innovation sessions (for example, developing new products) and routine working sessions (such as daily check-ins)
Information sharing, including one-way communication (video, for instance) and two-way communication (such as town halls with Q&As)
Below we describe the key shifts required to improve each category of collaborative interaction, as well as tools you can use to pinpoint problems in the moment and take corrective action. READ MORE
by Aaron De Smet, Caitlin Hewes, Mengwei Luo, J.R. Maxwell, and Patrick Simon
Source: mckinsey.com
BCG analysis has found that among the 20 largest private equity (PE) fund portfolios, an average of 20% of assets are exposed to geopolitical risk (for several funds, the percentage is much higher). Companies must contend with three main areas of risk exposure: cross-border value chains, strategic sectors, and climate regulation and policies.
A group of global CEOs recently gathered for a private dinner in a Spanish restaurant in central Tokyo, representing a variety of sectors spanning food, insurance and banking, medical devices, semiconductors, and heavy industries like steel. These are six topics that dominated the evening’s discussion.
“Despite playing a significant role in organizations, HR is being left out of the conversation on AI adoption,” according to the report. That’s a mistake because HR leaders can help develop a strategic and holistic approach that considers the benefits, risks and objectives of AI use — while also maximizing return on investment and mitigating harms to reputation, security and inclusivity, it said.
