5 must reads for your weekend
We keep our ear to the ground for the interesting stats, insights and discussion points you need to feel in the know.
1. Collaboration – an overused buzzword or the key to business success?
The word ‘collaboration’ is everywhere. You may be tired of hearing about it but don’t let its overuse dilute its value. Working together is truly critical to both people and businesses worldwide. No single company could possibly deliver the complex, ever-changing solutions society demands year after year, not to mention make meaningful headway on issues as far-reaching as climate change. So why not join forces and leverage the strengths of others? In 2023, it’s time to recognise that collaborative business models may outperform purely competitive ones. Take Mercedes-Benz and BMW as an example; two automotive businesses whose customers aren’t just looking for cars, per se, but to get from point A to point B. In a competitive market, they pooled carsharing services, combined taxi apps and e-scooter providers to create the mobility superapp FreeNow, which can offer multiple forms of transport to customers across 16 countries. The result was a bigger slice of the pie for everyone. With the World Economic Forum (WEF) just around the corner, EY Global Chairman and CEO Carmine Di Sibio tells us in a new WEF blog, why the future of competition is collaboration.
2. There’s a better way
Imagine running a relay race. The team has trained together, you’ve agreed the approach to hand offs and the coach has given you great advice on how to win. Now imagine running that race with four different people who don’t train together and each having their own strategy to win. Which team is more likely to succeed? This is the situation many companies find themselves in when it comes to cyber. The result? Inefficiencies, wasted money and gaps in coverage. In this ever-evolving threat landscape, it’s important to move fast. Each time new business models are introduced, business risks increase. Add to this potent mix the race for talent, making cyber talent harder and harder to attract and retain, and it’s easy to see why there are so many doom and gloom headlines about cyber. Andy Saunders, EY EMEIA Cybersecurity Managed Services Leader, reminds us that cyber is much more than a protective capability – it can be an enabling one as well. There is a better way of doing things.
3. How can tomorrow’s leaders help tackle climate change today?
In 2015, the Paris Agreement set ambitious targets to escape irreversible environmental damage but what’s happened since then? Many nations and corporations have fallen short of their agreed targets, natural disasters have increased and climate anxiety has continued to rise — particularly among Gen Z. More than any other generation, Gen Z engages with online content about the need for climate action - 37% rank climate change as their number one personal concern, whilst 32% have personally taken action to address climate change in the last year. Personified by Greta Thunberg, Gen Z’s concern for the climate crisis is matched only by their disillusionment at the level of inaction they feel is displayed by those in power. “Gen Z will disproportionately bear the burden of climate change, yet they feel unable to influence change in a meaningful way, as the business world is not engaging them enough,” says Gillian Hinde, EY Global Corporate Responsibility Leader. “To accelerate environmental sustainability, we need to hear Gen Z’s perspectives and capitalize on their energy and ideas, now and as they become future leaders.”
4. Pro cycling races: see things the helicopters don’t capture
The sport of cycling has a money problem. Why? There are more than a billion bicycles in the world, so you'd think there's an easy opportunity to show casual cyclers the thrill of watching professional races on TV. Yet, despite growing interest from media network providers and an expanding fanbase, the sport of cycling has been stubbornly resistant to effective monetization. A crucial difference between cycling and other sports, is the inability to benefit from hosting large, ticketed events at a singular location; cycling races cover thousands of miles of open road. Ironically, it’s the most dedicated pro cycling fans - those close to the action and watching by the roadside - who can miss the most. More casual viewers, watching on TV or listening on the radio, can get a more holistic coverage of the race, whereas fans by the roadside only catch a glimpse. A group of professional cycling teams came to EY, for help to fix this very problem. Together, they have created an entirely new and engaging fan experience for cycling through a user-facing app - which offers the teams several routes for monetization.
5. Tech addictions
Are you addicted to your screen? Do you spend hours scrolling on social media? It’s no surprise that the design of smartphones and social media platforms has fueled an epidemic of screen addictions. The addictiveness of these platforms may not have been intentional, but it wasn’t inevitable and has been linked to increased levels of depression, most worryingly among teenagers. From infinite scroll to push notifications – some design features have produced addictions while trying to maximize engagement. So, what impact will the business models and design decisions powering the metaverse have on tech addictions? Whilst we are still in the early days of the metaverse, the stated goal is to design environments that are ‘always on’ but will the goal of an always-on metaverse, drive a new wave of user addictions?
If you do one thing:
Remember that everyone you meet has something to teach you.
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Forensics Operation Advanced - Netherlands bij EY
1yDon't be afraid of the TECH companies, Metaverse, AI and/or Quantum Computing, see the difference between: I know what you were doing... VS. I know what you are doing... VS I know what you will be doing! Every evolution comes with it's own revolution.
Corporate Tax Associate at RSM US LLP
1yRegarding the tech addictions, if the Metaverse is meant to always be on, would it still be considered an addiction, or would it just become a new part of our lives. Just because people carry their phone on them at all times of the day doesn't necessarily mean they are addicted to it, but that it is just something that they need to always have on them. I think the Metaverse is going to try to be like that where even though it will always be with you, it won't necessarily be an addiction.
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1yThank you for sharing
Account Relationship Manager at Standard Bank Of South Africa
1yTHANKS,No one will still your power of learning ,those who are hungry for it will know where they learn and feel nourished
Proud Father | Former CrossFit Athlete turned Business Strategist | Project Manager & Data Analyst | passionate about sports, health and technology 🏋️♂️
1yGreat article about #Techaddiction . It can be a major problem in the workplace, as it can lead to decreased productivity, poor performance, and strained relationships with colleagues.