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Harvard commits $100 million to redress ties to slavery
Erin Doherty, Axios, 27 April 2022In a world of cancel culture, companies and organisations are being forced to deal with decisions their predecessors made hundreds of years ago. Harvard University has announced that it will commit $100 million to study and redress its ties to slavery based on a recent report's recommendations. The internal Harvard report analyses how Harvard’s...
socio political environment
The only thing that can kill a social media giant is the next one
Kira Bindrim, Quartz, 27 April 2022The Cambridge Analytica scandal, the 2016 US presidential election, and countless privacy violations are just some of the dishonourable situations which have damaged Facebook's reputation in recent years. But other than being bad, the bottom line is that Facebook is now just boring. Younger generations view Facebook as a social media platform...
socio political environment
Twitter takeover: EU and UK warn Musk must comply or face sanctions
Dan Milmo and Mark Sweney, The Guardian, 27 April 2022The UK and EU have warned that Twitter must comply with new content rules or face sanctions ranging from fines to a total ban, as concerns are raised that hate speech will increase on the platform under the ownership of Elon Musk. Thierry Breton, the EU’s commissioner for the internal market, tweeted “be it cars or social media, any company...
socio political environment
In a market swamped with streaming services, Netflix’s massive loss of subscribers is a big deal
Oliver Eklund, The Conversation, 26 April 2022Netflix announced it lost over 200, 000 subscribers in the first quarter of 2022, revealing the first time the streaming service has lost subscribers in over a decade. Whilst the cancellation of the service in Russia partly contributed to the loss, Netflix saw its subscribers increase only one-fifth of the expected growth…
socio political environment
Stop telling employees to be resilient
Lizz Fosslien and Molly West Duffy, MIT Sloan Management Review, 25 April 2022Resilience, or the ability to withstand hardship and bounce back from difficult events, is useful when it comes to work. But, too often, it’s presented in a way that overlooks structural issues and instead encourages employees to grin and bear whatever tough stuff comes their way — and to do so on their own, without disturbing their colleagues....
socio political environment
Why top management should focus on responsible AI
David Kiron, Elizabeth Renieris and Steven Mills, MIT Sloan Management Review, 19 April 2022Executives are increasingly discussing their company’s social purpose in non-financial terms. They recognise that AI has the potential to advance or undermine an organisation’s social purpose. Panellists assembled by MIT Sloan Management Review stated responsible AI should be a top management concern because AI can have a significant impact on...
socio political environment
Kinder factory shut down as dozens of children contract salmonella poisoning from contaminated chocolate
ABC News, ABC News, 12 April 2022A Kinder chocolate factory in Belgium has been ordered to close temporarily over reports of salmonella contamination, with cases of food poisoning recorded in at least nine countries. Most of the cases involve young children. Australia and New Zealand's Food Standards authority put out a nationwide recall notice for some Kinder products last...
socio political environment
Plant-based RM Williams on the cards as Forrest makes fresh investment
Dominic Powell, The Sydney Morning Herald, 12 April 2022Australia’s famed RM Williams boot could start being made from a plant-based leather alternative following a $26 million investment by mining magnate Andrew Forrest in Natural Fiber Welding, a US sustainable textiles company. One of the company's main products is Mirum, a plastic-free, plant-based material that is fully biodegradable...
socio political environment
Elon Musk, Twitter’s largest shareholder, backflips on decision to join company’s board
ABC News, ABC News, 11 April 2022Twitter's largest shareholder, billionaire Tesla and SpaceX founder Elon Musk, has decided not to join the company's board. Mr Musk, who has previously called himself a "free-speech absolutist" and has been critical of Twitter, disclosed a 9.1 per cent stake in the social media giant earlier this month, and said he planned to bring about...
socio political environment
The new CFO mandate: How finance leaders can reconcile and fulfill their growing portfolios of responsibilities
Ankur Agrawal, Christian Grubs and Meagan Hill, McKinsey & Company, 08 April 2022A recent McKinsey survey shows that the CFO’s role is rapidly evolving—expanding in scope, requiring new capabilities, and demanding greater collaboration with C-suite peers. In the first of three conversations on the changes that finance leaders face, two McKinsey experts and Jørn Jensen, an experienced finance leader, discuss the new...
socio political environment