Jeanne Ross, Director & Principal Research Scientist at the MIT Sloan School’s CISR
In a digital economy, companies are constantly faced with opportunities, challenges and threats. Business changes are critical to successfully navigate in this environment, but there are plenty of pitfalls to watch for along the way.
Some companies, like those in the media space, are probably closer to the head of the pack in addressing these issues. They’ve either survived or not at this point. Others, in areas like retail and financial services, are in the eye of the storm, while industries like oil and gas and consumer goods see this more as an issue on the horizon.
Regardless of where they are in dealing with digital disruption, everyone’s assumptions about what is necessary to succeed are being shaken up. Digital disruption comes at you in unexpected ways, and businesses need to be prepared. MIT’s Center for Information Systems Research (CISR) has been studying this issue for years through case studies, interviews and surveys. Based on that research, we’ve identified five propositions about thriving during digital disruption.
After nearly a decade of crisis, bailout and reform in the United States and the European Union, the financial system — both in those countries and globally — is remarkably similar to the one we had in 2006. Many financial reforms have been attempted since 2010, but the overall effects have been limited. Some big banks have struggled, but others have risen to take their place. Both before the 2008 global financial crisis and today, just over a dozen big banks dominate the world’s financial landscape. And yet the ground is shifting beneath the financial sector, and big banks could soon become a thing of the past.
Few officials privately express satisfaction with the progress of financial reform. In public, most of them are more polite, but the president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, struck a chord recently when he called for a reevaluation of how much progress has been made on addressing the problem of financial institutions that are “too big to fail” (TBTF).
Here’s a challenge for people who think about organizations in 21st-century America: How do we demilitarize our notions of leadership?
In late January 2016, National Public Radio reported on Urban Warriors, a YMCA of Metro Chicago initiative. Run in cooperation with the Adler Institute of Psychology, the pilot program brings inner-city youth together with veterans of the wars in Iraq and Afghanistan. The goal: to acknowledge the physical and psychological damage occasioned by participants’ prolonged exposure to violence and help them cope. The YMCA staffer behind the program, Eddie Bocanegra, paraphrases the kids’ logic for buying into it: they (the soldiers) have guns, we have guns; they have ranks, our gangs have ranks; they wear uniforms, we wear gang colors; they lived in a war zone, we do the same.
On the face of it, the YMCA program is an imaginative and praiseworthy response to a deeply felt need. Both military veterans struggling to reintegrate with civilian life and teenagers subject to or participating in gang violence have gravitated to the program, sharing their stories and taking comfort from the recognition that they aren’t alone in their difficulties. That said, we might ask ourselves how we have created a “homeland” where combat experience best models the lives of supposed domestic harmony that veterans were originally sworn to protect, and wish now to share.
Lee Ullmann, Director of the MIT Sloan Latin America Office Office of International Programs
¿Cuál es la importancia de Big Data para Latinoamérica y cuál es su futuro en la región?
Únanse para una conversación entre Lee Ullmann (@MITSloanLatAm), director de la Oficina para América Latina de MIT Sloan, y Jorge Hernán Peláez (@jhpelaez), reportero colombiano para La W, en donde platicaremos sobre cómo los datos masivos pueden contribuir significativamente tanto a las empresas como a los gobiernos.
La plática por Twitter tendrá lugar el 11 de mayo desde las 3:00 hasta las 4:00 p.m. ET.
¿Cómo pueden participar? ¡Es sencillo! Si tienen una pregunta, respuesta o comentario, simplemente incluyan #MITBigDataLatAm en sus Tweets.
La conversación en Twitter es un precursor a la conferencia “Big Data: Shaping the Future of Latin America” (Big Data: Cómo dar forma al futuro de América latina), organizada por la escuela de negocios MIT Sloan el 26 de mayo en Bogotá, Colombia. La conferencia reunirá a profesores internacionalmente renombrados para discutir como se puede usar Big Data para formar decisiones mejor informadas.
En promoción de las ideas de la conferencia, tendremos una conversación en Twitter sobre el papel de Big Data para el futuro de Latinoamérica y más ideas de la conferencia.
What’s an acceptable percentage to tip? The amount has been accelerating without any clear economic force driving it, and with unclear benefits for all parties involved. In the 19th century and during the first half of the 20th century, a 10% tip was common. By the 1980s, 15% tips had become the standard. Now we observe 18%, 20%, and even 25% tipping rates.
Perhaps as a result, tipping is a constant source of tension and debate, and a favorite topic for social and economic critique. And, like any controversial subject, it has its own little-understood rules and oddities.