Harvard Business Review - 2020.09,10.pdf

Geneva Zurich Luxembourg London AmsterdamBrussels Paris Frankfurt Madrid Milan DubaiMontreal HongKong Singapore Taipei Osaka Tokyoassetmanagement.pictetStability.Our answer to global instability.This document has been issued by Pictet Asset Management Inc,which is registered as an SEC Investment Adviser,and may not be reproduced or distributed,either in part or in full,without their prior authorisation.Past performance is not a guide to future performance.The value of investments and the income from them can fall as well as rise and is not guaranteed.You may not get back the amount originally invested.HBR.ORG SeptemberOctober 202064 Promoting Racial Equity at Work 82 Post-Pandemic Supply Chains 90 A New Model for Ethical LeadershipWhere People Management WentWrongHow we came to overengineer our True beauty is impossible to hide.Choose something that needs no introduction.Opera A3Thunderbird School of Global Management is proud to host the UNICON 2020 Team Development Conference Globally Focused.Future-Ready.Bringing together the worlds leading universities in November 2020 to shape executive education in the Fourth Industrial Revolution Thunderbird.asu.edu/UNICON2020Sept ember Oct ober 2020Co n t e n t s37SPOTLIGHT MAKING SUSTAINABILITY COUNT38 SUSTAINABILITYSoci al-Impact Ef f ort s That Creat e Real ValueThey must be woven into your strategy and differentiate your company.Ge o r g e S e r a f e i m48 GOVERNANCEThe Boards Role i n Sust ai nabi li t yA new framework for getting directors behind ESG efforts Ro be r t G.Eccle s,Ma r y Jo hnsto ne-Lo ui s,Co li n Ma ye r,a nd Judi th C.S tr o e hle52PERFORMANCE MEASUREMENTThe Challenge of Rat i ng ESG Perf ormanceAn expert explains whats involved.S i mo n Ma cMa ho n“Companies must move beyond box checking and window dressing.”PAGE 38Pho t o grap h by MARLIES PLANKCOVER PHOTOGRAPH New StudioHarvard Business ReviewSep t emberOct o ber 2020756MANAGING PEOPLESt op Overengi neeri ng People ManagementThe trend toward optimization is disempowering employees.Pe te r Ca ppe lli64DIVERSITYHow t o Promot e Raci al Equi t y i n t he Workplace A five-step planRo be r t Li vi ng sto n74STRATEGYAdapt Your Busi ness t o t he New Reali t y Start by understanding how habits have changed.Mi cha e l G.Ja co bi de s a nd Ma r ti n Re e ve s8 2OPERATIONSGlobal Supply Chai ns i n a Post-Pandemi c World Companies need to make their networks more resilient.Heres how.Wi lly C.S hi h90LEADERSHIPA New Model f or Et hi cal Leadershi p Create more value for society.Ma x H.Ba ze r ma n98 ENTREPRENEURSHIPWhen It s Ti me t o Pi vot,What s Your St ory?How to sell stakeholders on a new strategyRo r y McDo na ld a nd Ro be r t Br e mne r106INNOVATIONCult ural Innovat i on The secret to building breakthrough businessesDo ug la s Ho lt116STRATEGYJoi nt Vent ures and Part nershi ps i n a Downt urnHow to think about your existing collaborationsand the new ones you should seek outJa me s Ba mf o r d,Ge r a r d Ba ynha m,a nd Da vi d Er nst126TECHNOLOGYHow t o Wi n wi t h Machi ne Learni ng And how to catch up if youre lagging behindAja y Ag r a wa l,Jo shua Ga ns,a nd Avi Go ldf a r b56FEATURES98Pho t o grap h by ROBERT GOETZFRIEDSe pt e mbe rOct o be r 20208Harvard Business ReviewSep t emberOct o ber 2020Pho t o grap h by GABRIELA HASBUNSe pt e mbe rOct o be r 2020XX17IDEA WATCHNe w R e s e a r c h a n d Eme r gi n g I n s i gh t s17ITBoost Your Resi st ance t o Phi shi ng At t acksSimple changes to employee training can improve results.PLUS How to push past an ultimatum,the case for acquiring during a downturn,a vote for generalists,and more28 DEFEND YOUR RESEARCHWe Act i vely Avoi d Inf ormat i on That Can Help UsTo protect our self-esteem,we often opt for willful ignorance.31HOW I DID IT23andMes CEO on t he St ruggle t o Get Over Regulat ory HurdlesA letter from the FDA in 2013 forever changed the course of the company.Anne Wo jci ckiDEPARTMENTS12FROM THE EDITOR14CONTRIBUTORS148 EXECUTIVE SUMMARIES135EXPERIENCEAd vi c e a n d I n s pi r a t i on135MANAGING YOURSELFLearn When t o Say NoAnd how to say yesBr uce Tulg a n140CASE STUDYPull t he Plug on a Project wi t h an Uncert ai n Fut ure?A real estate developer considers whether to push forward with an office complex in the midst of Covid-19.Co dy Eva ns a nd Chr i s Ma ho wa ld146SYNTHESISPresi dent i al Obsessi onThe complex and crucial relationship between our leaders,the media,and usJe f f Ke ho e152LIFES WORKJanelle MoneERRATUM:In t he July August issue,t he art icle“What Is t he Next No rmal Go ing t o Lo o k Like?”mischaract erized To ry Burchs p o sit io n at her ep o ny mo us co mp any.She is t he execut ive chairman and chief creat ive o fficer,no t t he CEO.31“Change happens when strong leadership doesnt waver with the message.”ANNE WOJCICKI,23ANDME CEORedux10Harvard Business ReviewSep t emberOct o ber 2020We r e pr oud t h a t t h e pa pe r w e us e i n our pr i n t ma ga zi n e i s c e r t i fie d un d e r t h e Sus t a i n a ble For