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    • COVID-19: Impact & Response

      Diversification, navigation, imagination

    • COVID-19

      Diversity Still Matters

      (May 19, 2020)

       

      Inclusion and diversity are at risk in the crisis - but are critical for business recovery, resilience, and reimagination. - McKinsey & Company

      We would argue that companies pulling back on I&D now may be placing themselves at a disadvantage: they could not only face a backlash from customers and talent now but also, down the line, fail to better position themselves for growth and renewal.

      Research has repeatedly shown that gender and ethnic diversity, inclusion, and performance go hand in hand. The benefits of inclusion and diversity are clear now—and that doesn’t change in a crisis.

      Diversity winners that deploy a systematic approach to inclusion and diversity and don’t fear bold action to foster inclusion and belonging are most likely to reap the rewards. Now is the time to be even bolder.​

      Diverse teams are more innovative—stronger at anticipating shifts in consumer needs and consumption patterns that make new products and services possible, potentially generating a competitive edge.

      Strategic agility—the ability to spot and seize game changers—is likely to be a mission-critical trait. It is also likely to be stronger in organizations that can draw on the full spectrum of diverse talent available to them.

      .

      When companies invest in diversity and inclusion, they are in a better position to create more adaptive, effective teams and more likely to recognize diversity as a competitive advantage.

    • FULL ARTICLE
    • COVID-19

      COVID's Effect on Minority-Owned Small Businesses in the United States

      (May 27, 2020)

       

      Already vulnerable, minority-owned businesses brace for disproportionate impact. - McKinsey & Company

      Minority-owned small businesses are more optimistic and more likely to offer support to their local community.

      The crisis could disproportionately affect minority-owned small businesses for two critical reasons: they tend to face underlying issues that make it harder to run and scale successfully, and they are more likely to be concentrated in the industries most immediately affected by the pandemic.

      Research has found that black small-business owners were significantly more likely to be asked to provide more information about their personal financials—when applying for small-business loans than white small-business owners were.

      The share of minority-owned small businesses and minority employment is highest in the industries most directly affected by COVID-19.

      Despite being more optimistic about the recovery of the economy as a whole, minority-owned small businesses appear to be more concerned about the impact the pandemic will have on their own businesses

      Expanded access to funding, incentivizing lending, accelerate receivables from government or large corporate customers, procurement commitments from government organizations and the private sector, access to technology

      Decision makers in the private, public, and social sectors should treat the COVID-19 pandemic as an impetus to address the many structural challenges facing these businesses.

    • FULL ARTICLE
    • COVID-19

      Jumpstarting The Recovery

      (May 2020)

       

      Navigating the return across industries - McKinsey & Company

      Moving from wartime to peacetime in health care

      Navigating the government response

      Reimagining retail

      Reviving consumer and packaging

      Steering the future of airlines and advanced industries

      Leading the recovery in financial services

      Adapting private equity to the new reality

    • FULL ARTICLE
    • COVID-19

      Reimagining the Post-Pandemic Organization

      (May 15, 2020)

       

      The organization of the future is taking shape in the moves that companies are making now. Here's what's changing - and why some companies say they won't go back. - McKinsey & Company

      Take a stand on purpose

      Reimagine value creation

      Get intentional about your culture

      Move beyond a ‘hierarchy of bosses'

      Turbocharge decision making

      Treat talent as your scarcest resource

      How can leaders accelerate their companies’ journeys toward becoming not only faster but also better for customers, employees, and society at large?

    • FULL ARTICLE
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