Joanna Shields, chair of Tech City UK © Simon Dawson/Bloomberg
When the first dotcom bubble burst, one theory that did the rounds in New York, where I was working, was that such a scarring experience would deter a whole generation of 20-somethings from ever becoming entrepreneurs.
But Joanna Shields, the UK’s ambassador for digital industries, puts a different spin on the aftermath of the dotcom bust. The US – and specifically Silicon Valley – profited from the experience of failure, she says, while innovation and entrepreneurialism in the UK took a hit from which the country is only now recovering. Read more
© Tim Moore/Alamy
If you thought that where you worked, how much cash you made, or how well qualified you were was the main reason you were content – or otherwise – at work, think again.
A new study has found that the most powerful predictor of a worker’s job satisfaction is their boss’s ability to do their – that is the worker’s – job themselves.
The study, by academics from Warwick University, the University of Wisconsin and Cass Business School, part of City University, looked at three decades of data on job satisfaction among 35,000 employees across the UK and the US. They examined responses to a series of questions such as “Could your supervisor do your job if you were away?”
They found that the perceived competence of bosses was more significant than a host of other factors, including workers’ education levels, the industry they worked in, the money they earned or their gender. Read more
Gary Hamel still talks and writes with the passion of a revolutionary. In a recent blogpost, the management writer played with his own theory of the “core competencies” of companies, conceived with the late CK Prahalad, by pointing out their core incompetencies of inertia, incrementalism and insipidity.
After the spectacular chaos of the last time that regulators and governments scrambled to rescue banks in the US and Europe, they have hammered out a plan for the next time. It is better than the absence of one in 2008 but who knows if it will work?
The next Machine Age will not just augur job losses and the transformation of some professions. The future could be a lot worse. It may also let loose an army of needy robots.
This week, the MIT Technology Review described a new generation of Cobots – collaborative robots – made by a team under Manuela Veloso, a professor at Carnegie Mellon University in Pittsburgh. These are autonomous intelligent mobile robots capable of performing service tasks and interacting with humans.
The robot is as polite as Star Wars’ C-3PO but there the similarities end. It has no arms and no legs. In fact, the article describes it as “a laptop and a cluster of sensors sitting atop a wheeled bar-stool”.
Unfailingly civil; it also turns out to be demanding of its human co-workers’ attention. Prof Veloso maintains that it is hard to program a robot to decode conversation but it can understand simple instructions. Therefore, when it has run out of tasks it will nag the nearest human. If that does not work, it will send out an office-wide email asking for assistance. Read more
Grayson Perry, the transvestite artist, took aim last month at “default man”: the cabal of white, middle-class, heterosexual, middle-aged males who run the British establishment.
Taylor Swift, the singer-songwriter, has removed her entire catalogue from Spotify, the music streaming service founded in Sweden. Ms Swift’s new album 1989 sold nearly 1.3m copies in the US this week, and she has written that: “Valuable things should be paid for. It’s my opinion that music should not be free.”
Karl Lagerfeld (Getty Images)
I have spent more than a third of my professional career living and working abroad, so you would expect me to lap up research that suggests foreign experience increases creativity. But as companies find it ever more expensive to send managers on expatriate assignments – and rightly choose to hire and train skilled executives locally – they will have to look to other methods to encourage innovative thinking. Read more
Traditionally, one thing upon which the British could rely was that they never heard anything about, or from, the security services, apart from in James Bond films. That has changed. First, Sir John Sawers, the new head of MI6, has Lunch with the FT and now Robert Hannigan, left, the new head of GCHQ, has written an op-ed for the paper.
Apart from indicating that the FT has become the communications channel of choice for British spies, it shows that the security services have decided that it is no longer enough to fight in the shadows. They have to get their message across loudly, in parliament and in public. Read more
The worst-kept secret is out: Tim Cook, chief executive of Apple, is gay.
“For years, I’ve been open with many people about my sexual orientation,” he wrote in an article for Bloomberg Businessweek. “Plenty of colleagues at Apple know I’m gay, and it doesn’t seem to make a difference in the way they treat me. Of course, I’ve had the good fortune to work at a company that loves creativity and innovation and knows it can only flourish when you embrace people’s differences. Not everyone is so lucky. Read more
Bcc: useful, but dangerous © Ian Dagnall/Alamy
To bcc, or not to bcc? Is it OK to send out “blind carbon copies” of emails, so that the person to whom they are addressed has no idea that other people are reading them too?
According to Debrett’s Guide to British Etiquette it is not OK. It is sneaky. Blind copying, says the arbiter of manners for the past two centuries, should be used “discerningly as it is deceptive to the primary recipient”.
Instead, Debretts suggests that if you want A to see the email you’ve just written to B, but don’t want B to know that A is reading it too, you forward the email to A with a short note explaining why it is confidential.
This is a rotten solution. First, it takes longer. Second, to forward a private email strikes me as every bit as sneaky as sending a blind copy. Read more
There is something peculiarly impressive about the video below of Mark Zuckerberg, founder of Facebook, talking in Mandarin to students at Tsinghua University in Beijing. If nothing else, it shows a dedication to the country’s customs that very few foreign business leaders can match.
Forty years ago, when Janet Yellen, chairwoman of the US Federal Reserve, was an economist at Harvard University, she was interested in the film Five Easy Pieces. She noted the scene in which a diner waitress refuses to bring Jack Nicholson’s character an omelette with coffee and wheat toast because it serves omelettes with cottage fries and rolls. “I know what it comes with, but it’s not what I want,” he retorts.
The implications, opportunities and challenges of increased longevity are beginning to dawn on many companies, as our Silver Economy series is revealing. But here is one that I don’t believe chief executives have yet focused on: the increased risk that your predecessor, and possibly his predecessor’s predecessor, will still be around to snipe at your strategy. Read more
No matter how good Total’s preparations, the death of its chief executive Christophe de Margerie in a plane crash late on Monday will have plunged the senior ranks of the French oil group into an emotional, logistical and governance nightmare.
When boards discuss succession planning, they often talk about it in jocular-morbid terms, typically debating “what happens if the CEO is run over by a bus?”. But when such sudden deaths occur, it often exposes just how poorly they have prepared for this type of emergency.
The US-based Conference Board, in a useful note for directors issued last year, pointed out that while three-quarters of S&P 500 companies surveyed in 2011 had succession plans in place, only 83 per cent of those had put in place an emergency succession component. Given that between 7 and 15 US public companies are hit by the sudden death of their chief executive in any given year, the group suggested the fact that a third of large companies had not considered emergency succession was simply not good enough. Read more