William Fairbairn’s Post

Micro-, small, and medium-size enterprises (#MSMEs) are the lifeblood of economies around the world. They account for at least 90% of all businesses, roughly half of value added, and at least two-thirds of business employment. But small businesses lag behind large companies on productivity. On average, their labor productivity, or value added per worker, is half that of their larger peers. Accelerating productivity growth has always been the sure way to deliver long-term prosperity, and MSMEs can—must—play a crucial role. Their contribution is potentially even more important, amid the beginnings of a reconfiguration of global trade patterns. If MSMEs were to narrow the productivity gap with large companies, not only could that breathe new life into economy-wide productivity, employment, and growth, but economies and companies could raise their resilience in an uncertain world. The question is how? In a new McKinsey & Company global report from McKinsey Global Institute, my colleagues Anu Madgavkar, Marco Piccitto, Olivia White, María Jesús Ramírez Larraín, Jan Mischke and Kanmani Chockalingam, examined MSMEs in 16 countries: the #UnitedStates, #Germany, #Australia, the #UnitedKingdom, #Italy, #Israel, #Japan, #Spain, #Poland, #Portugal, #Mexico, #Brazil, #Indonesia, #India, #Nigeria, and #Kenya, and say the route to higher productivity lies in creating a win-win economic fabric for all companies. Check out the how, in a data-rich 56-page report, free to read, share, download here from McKinsey Publishing and edited by Executive Editor Janet Bush, with data visualized by Juan Velasco. https://lnkd.in/dhQu7q9B

Wonder why the corporate world blindly accepts studies like McKinsey’s Diversity Matters, when the academic world would agree they suffer from multiple fatal flaws? Strive’s Head of Research, Chris Nicholson, Ph.D., sheds light on the disconnect and exposes an equally important question: Why did McKinsey make Canada disappear? Watch the full webinar with Chris, Strive CEO Matt Cole, and Professor of Finance at London Business School Alex Edmans: https://lnkd.in/gEj3grC8 #2264

Snapshot findings from PwC's in-depth CEO Survey 2024 compiled from the outlook of 4,702 global CEOs, 121 of whom were based in Ireland: - 50% Expect Ireland’s economic growth to improve in the year ahead. - 94% Are confident in their company's revenue growth prospects in the next 3 years. - 93% Feel new technology has influenced how their company creates, delivers and captures value. - 71% State regulatory complexity is an inhibitor to decarbonisation. - 28% Do not believe their company will be economically viable in ten years if it continues on its current path. - 44% Cite a lack of support from internal stakeholders is a significant hurdle for changing how their company creates, delivers and captures value. Read the full report here: https://lnkd.in/e_ru8WWp Amy Ball David McGee Ciaran Kelly Fidelma Boyce Enda McDonagh #CEO #Ireland #Business #businessoutlook #marketoutlook2024 #executivesearch #steeringpoint

Unveil the untapped potential of small businesses in shaping global economies! Dive deep into McKinsey Global Institute's latest report, revealing the transformative power of connectivity between small and large enterprises. From Japan's auto-manufacturing sector to emerging markets, discover how strategic partnerships fuel productivity, innovation, and inclusive growth. As a marketing student, envision the endless possibilities for collaboration and disruption in the marketplace. Let's harness the power of connection to redefine success and drive sustainable economic progress for generations to come! #SmallBusinesses #Connectivity #Innovation #MarketingInsights #EconomicProgress" Bob Sternfels McKinsey & Company And as always, I'm excited to explore how McKinsey reports challenge conventional thinking and inspire new perspectives!

Wrapping up three days of Kearney Global Business Policy Council CEO Retreat this year at Big Sky, Montana, which gathers 50+ global CEOs, thinkers and policy analysts to share perspectives and exchange ideas on the topic of World At Risk: Leading Through Profound Uncertainty. It has been a fascinating set of discussions on a wide range of topic including US-China relationships, the future of healthcare, energy transition, and technology/AI education and regulation. I also had the fortune and opportunity to facilitate a panel with esteemed experts on the topic of Tracking the Indo-Pacific trajectory. My personal takeaways from the conference: 1. A 2nd Trump victory in the US elections will be highly disruptive both to strategic alliances and the global economy (to the point of potentially triggering a recession) - a point that has perhaps been under-appreciated by many who take reference from his first term 2. While a kinetic war in the Indo-Pacific is not likely (and part of the strategy is increasing deterrence), even grey zone tactics and the escalating US-China geo-economic conflict (a new term I learnt) will impose economic costs and increase uncertainty for businesses 3. Diversification and de-risking are now the top priorities for many businesses, but it will remain a work-in-progress as many struggle with the practical realities of managing a more complex operating model and supply chain footprint, and balancing costs with flexibility For more from GBPC you can go to our website (https://lnkd.in/g6gyg6Jj) #kearney #gbpc #uschina #ceo #risk #indopacific Paul Laudicina Erik Peterson Terence M. Toland Alison MacDougall

I have always known the enormous value that Micro, Small and Mid-size Businesses (MSMEs) bring, not only to global economies, but to society and communities across the world. This report from McKinsey & Company brings that to the fore. Undeniably, productivity is a challenge for ALL businesses to constantly focus on, especially given the opportunity and benefit unlocking productivity can bring. As McKinsey says: "Raising productivity is, and always has been, the optimal route to healthier incomes and business resilience. In a world beset by uncertainty amid geopolitical tensions and shifts in manufacturing and services footprints, raising the game of the world’s MSMEs—which are so central to jobs, livelihoods, value creation, and economic growth—is a priority. The potential is large, but efforts to capture it need to be thoughtful and very likely targeted. Only by having a granular understanding of MSME productivity can effective action be taken. That action can create a win-win for all companies, small and large". Thankfully in the UK we have Be the Business who are really tackling our productivity puzzle, but we can all do more! Have a read and see what it says to you..... Thomas Jardine & Co #productivity #smallbusiness #microbusiness #familybusiness #unlockchange #largebusiness #collabortations

Private businesses are drivers of economic activity, employment and growth. PwC's 27th Global #CEOSurvey reveals that private company CEOs are consistently more optimistic than their listed counterparts about their ability to ride out the enduring risks of macroeconomic volatility, inflation and political turbulence. Dr. Peter Bartels, Global Entrepreneurial & Private Business Leader maps out 5 key priorities for #privatebusinesses in 2024. https://pwc.to/3SD2qVF #PwCPrivate #PwCInsights #business #strategy #wealth #familyoffice PwC Australia

Private businesses are drivers of economic activity, employment and growth. PwC's 27th Global #CEOSurvey reveals that private company CEOs are consistently more optimistic than their listed counterparts about their ability to ride out the enduring risks of macroeconomic volatility, inflation and political turbulence. My colleague, @DrPeterBartels, Global Entrepreneurial & Private Business Leader maps out five priorities for #privatebusinesses in 2024. Worth a read! https://pwc.to/3SD2qVF #PwCPrivate #PwCInsights

Private businesses are drivers of economic activity, employment and growth. PwC's 27th Global #CEOSurvey reveals that private company CEOs are consistently more optimistic than their listed counterparts about their ability to ride out the enduring risks of macroeconomic volatility, inflation and political turbulence. @DrPeterBartels, Global Entrepreneurial & Private Business Leader mapped out five priorities for #privatebusinesses in 2024. https://pwc.to/3SD2qVF #PwCPrivate #PwCInsights

How can we drive growth in UK corporates to strengthen our economy? By aiming higher and embedding systematic ambition to drive performance in our largest companies, starting with: 1. Shaping a concentrated base of long-term, aligned investors 2. Aligning ambition with management and board incentives 3. Delivering growth through tech-led business models, new geographies, and new product lines 4. Partnering with innovators when making bold technology investments 5. Purposefully reskilling the workforce It's great to see this report coming out 18 months after I was lucky enough to join the founding engagement team with Tunde Olanrewaju, Andrew Goodman, Tera Allas CBE, Quan Han Wong, Anna Grebenchtchikova, CQF, William Fairbairn and Marianthe Maroulis Some thought-provoking insights in this new report that is well worth a read! I think about our findings often.