Addressing the other crisis in Europe: The corporate and technology gap

Plus, the promise and perils facing start-ups ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   Monthly Highlights, October 2022 Recent seismic events in Europe—including Russia’s invasion of Ukraine and the subsequent energy and cost-of-living crisis—underscore the importance of building long-term resilience in the region. But unless Europe addresses its technology gap, the region will be vulnerable across all sectors on growth and competitiveness, as well as security and strategic strength, write senior partners Sven Smit, Magnus Tyreman, Jan Mischke, and coauthors in a new report from the McKinsey Global Institute. This month, our featured story looks at the erosion of Europe’s corporate and technological competitiveness, describes the root causes, and proposes actions that can turn this challenge into a high-stakes opportunity. Other highlights in this month’s issue include the following topics: venture capitalist Bill Gurley on the promise and perils facing start-ups in the current economic environment what an extended period of high interest rates means for US companies why organizations should make geopolitical resilience a strategic priority the role of the chief information officer in combatting climate change Editor’s choice Securing Europe’s competitiveness: Addressing its technology gap Even amid war in Europe and the energy and cost of living crisis that has resulted, the region needs to pay attention to its slow-motion corporate and technology crisis. Understand regional trends THIS MONTH’S HIGHLIGHTS ‘If you’re going to build something from scratch, this might be as good a time as in a decade’ In the second episode of our series The Quarterly Interview: Provocations to Ponder, venture capitalist Bill Gurley explains the promise and perils facing start-ups at a moment of economic uncertainty and reveals why hybrid work may be the most interesting technology of all. Be ambitious Something’s coming: How US companies can build resilience, survive a downturn, and thrive in the next cycle The US economy continues to throw off mixed signals. But one thing is becoming clear: executives should prepare for an extended period of higher interest rates. Get primed How to build geopolitical resilience amid a fragmenting global order Organizations need to strategically invest in capabilities, people, processes, structures, and technology to navigate the risks arising from an evolving and fraught geopolitical landscape. Create resilience The green IT revolution: A blueprint for CIOs to combat climate change Research shows that the most impact on IT-generated emissions can be found in unexpected places. Take action now Asian American workers: Diverse outcomes and hidden challenges Asian Americans often face invisible challenges at work. Organizations can maximize more of this group’s potential by acknowledging its diversity. Debunk the myths Reducing food loss: What grocery retailers and manufacturers can do An estimated $600 billion worth of food is lost during or just after harvest. Can manufacturers and grocers do anything about it? Definitely—and it will be good for business, people, and the planet. Enable lasting change ALSO NEW Why digital trust truly matters Survey results: Expectations for company performance, by industry Author Talks: How industrial technology is creating a more inclusive economy Empowering economic growth in the Latino community To slow down attrition, pay closer attention to what workers really need Heat waves, the war in Ukraine, and stigma: Gen Z’s perspectives on mental health Author Talks: Bill George sets a course for ‘true north’ How Europe’s CPG leaders can navigate inflation You can’t move too fast: A conversation with Andy Penn The two-wheeled commute: Micromobility and your future Forward Thinking on talent, state capacity, and being hopeful with Tyler Cowen SPECIAL FEATURES We’re helping build an economy that works for all McKinsey is taking action to create a more inclusive economy through its work with clients and in local communities. Look closer The Titanium Economy A new book explores what could be the key to America's future economic growth: its industrial manufacturing base. #TitaniumEconomyBook. Preorder now My Rookie Moment McKinsey senior colleagues share their formative early-career experiences to help you navigate yours. Watch the latest episode The McKinsey Crossword Sharpen your problem-solving skills the McKinsey way, with our weekly crossword. Play now McKinsey Classics There is an antidote to massive HR systems and questionnaire overload: understanding the HR function’s strategic goal. Read our classic article, “Getting beyond bureaucracy in human resources.” Rewind Wind down your week with the Shortlist Read a sample of the Shortlist newsletter and sign up for it or any of our 40+ free email subscriptions. Subscribe — Curated by Eleni Kostopoulos, a digital publishing manager in McKinsey’s New York office Follow our thinking McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you are a registered member of our Monthly Highlights newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007