MIT Sloan Management Review

Leader Character Framework Learn more: https://mitsmr.com/3VHY5kT

“OK, Houston, we’ve had a problem here,” said astronaut John Swigert in 1970, after an explosion disabled the Apollo 13 spacecraft on its way to the moon, 200,000 miles from Earth. Those iconic words triggered a heroic effort that eventually brought the astronauts home safely. To do so, NASA scientists and engineers needed to develop and test innovative solutions on the fly. A critical tool they used was an Earth-based “twin” of the spacecraft — then, mostly physical — upon which they could experiment swiftly and safely without endangering the astronauts. Half a century later, this concept has evolved into the digital twin (DT) — a digital replica of a complex real-world entity. DTs comprise two key elements: a high-fidelity model of the entity and a dynamic mechanism to keep the model true in real time, even as the entity changes. In industrial settings, internet-of-things (IoT) sensors typically provide the data for dynamic updates. DTs are potent tools for mission-critical applications, where experimenting with the physical system isn’t feasible or is expensive, time-consuming, and hazardous. Learn more: https://mitsmr.com/3T8SjZU

In today’s business environment, firms must navigate labor shortages, market shifts, geopolitical tensions that strain supply chains and manufacturing, and mandates to adopt sustainable practices. Meeting these demands will require innovation rooted in breakthrough science and engineering. Even companies in less R&D-intensive sectors will need to look to science-based innovators — so-called deep-tech startups — as they seek solutions to their key challenges. Deep tech describes a category of solutions rooted in atoms rather than bits — such as new materials, synthetic biology, fusion energy, and quantum computing — and grounded in cutting-edge research. Deep-tech ventures are startups dedicated to taking ideas from the lab bench to scaled global impact. And although these companies have great promise, adopting their breakthrough developments requires patience, a tolerance for risk, and capital. Learn more: https://mitsmr.com/3YZPdv1

Trends in AI and Data Science: - Generative AI must deliver value. - Data science shifts from artisanal to industrial. - Two versions of data products dominate. - Data scientists are less sexy. - Data, analytics, and AI leaders are less independent. https://mitsmr.com/3TTnSYJ

The Hard Truth About Business Model Innovation Classic read: http://mitsmr.com/2cWGGTa

What does Gen Z really want from hybrid work? This brief video shares advice for leaders on how to turn Gen Z’s preferences into overall culture improvements. https://mitsmr.com/3WTN8is

Traditionally, research and best practices in influencer marketing have favored big (or macro) influencers for their extensive reach, expecting the wider scope to lead to a higher return on investment. However, two recent studies conducted by this author group paint a more nuanced picture. Learn more: https://mitsmr.com/3yPOba8

A typical approach to DEI includes diversity training, pre-employment testing, performance reviews, and grievance systems, all of which aim to limit bias in recruiting and promotion. While better than nothing, these processes and policies are primarily designed to prevent litigation and to change (or train) people. Unfortunately, they don't change the heart and soul of the organization or the way it operates.1 Senior leaders might set up a committee or appoint a person to take charge of DEI to demonstrate that they are taking action. However, making DEI the responsibility of a czar or steering committee rather than engaging the community as a whole sidesteps the work of transforming the organization into one that thrives because it embraces diversity. A steering committee will rarely have the clout to rigorously question or change business processes — including personnel practices, reward systems, and how meetings are run — that may exclude diverse voices. These approaches are derived from an industrial view of the workforce as a set of interchangeable parts and employment as a transaction. Companies pay employees to perform a set of predefined tasks; it doesn’t matter what else they know, how they think, or what their talents might be. In this view, DEI is transactional, too. The organization follows the law by hiring people of differing identities and holding a “diversity day” to publicize them, without changing how it operates. For leaders seeking to transform their organizations through DEI, the VPM provides ways to both articulate and measure where an organization stands in its journey and where it needs to go. It also provides a way to engage the entire organization, by giving everyone — senior leaders, middle managers, and rank-and-file employees — a role in the measurement, achievement, and stewardship of DEI. It is focused on changing organizations, not individuals. https://mitsmr.com/3MkgMoR

Why Is Your Organization Struggling to Collaborate? Learn more: https://mitsmr.com/3qE04qU

Creating and implementing effective AI models requires substantial effort. However, when organizations focus too heavily on the technology and algorithms, they may ignore other critical factors, endangering their initiatives. Business leaders can improve the chances of their AI programs' success by taking on a more significant role. They should begin by identifying the appropriate data to train and operate their AI models, understanding the necessary questions to ask, and the answers to seek. It's also crucial to involve a variety of individuals, not just technologists and data scientists, but people from diverse roles with different perspectives. In this webinar, you will learn about: 💡 What we mean by “the right data” — and why it is essential for success with AI. 💡The questions managers must ask as models are developed and deployed. 💡How statisticians can fill critical gaps on your AI team. 💡How managers can build their own — and their organization’s — capabilities. Register for the webinar now: https://mitsmr.com/3Ak9hOd