A once-in-a-century crisis—a Great Disruption unleashed by a viral pandemic—hit the world economy in 2020. In a matter of months, the number of people living in poverty increased sharply, while income and wealth inequality trended towards new highs. Governments around the world responded rapidly—and boldly—to stem the health and economic contagion of the crisis. Fiscal and monetary stimulus packages were quickly rolled out to save the economy. The crisis responses, however, entailed difficult choices between saving lives and saving livelihoods, between speed of delivery and efficiency, and between short-term costs and long-term impacts.
2021 has been a year of economic recovery, as the world slowly transitions to a state of (relative) normalcy. But some companies are rebounding faster than others. According to Kantar BrandZTM , a lot of it has to do with the strength of a company's brand. With this in mind, here's a look at the world's most valuable brands in 2021.
Global prospects remain highly uncertain one year into the pandemic. New virus mutations and the accumulating human toll raise concerns, even as growing vaccine coverage lifts sentiment. Economic recoveries are diverging across countries and sectors, reflecting variation in pandemic-induced disruptions and the extent of policy support. The outlook depends not just on the outcome of the battle between the virus and vaccines—it also hinges on how effectively economic policies deployed under high uncertainty can limit lasting damage from this unprecedented crisis.Global growth is projected at 6 percent in 2021, moderating to 4.4 percent in 2022. The projections for 2021 and 2022 are stronger than in the October 2020 WEO.
Economic prospects have diverged further across countries since the April 2021 World Economic Outlook (WEO) forecast. Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs: those that can look forward to further normalization of activity later this year (almost all advanced economies) and those that will still face resurgent infections and rising COVID death tolls. The recovery, however, is not assured even in countries where infections are currently very low so long as the virus circulates elsewhere.
Innovations in technology are driving rapid development of new forms of money. The way global leaders from public and private sectors develop, coordinate and regulate such digital currencies will have profound implications on society’s capacity to harness their benefits and avoid the potentially significant risks they introduce. Two distinct forms of digital currency – central bank digital currency (CBDC) and “stablecoins” – have caught the attention of policy-makers and the private sector in recent years.
Digital Currency Governance Consortium, White Paper Series
The approval of several COVID-19 vaccines in late 2020 has brightened public health and economic prospects for 2021. Yet, prior to the onset of the pandemic, the global economy already had a fragile growth outlook, with social tensions over the evident polarization of economic outcomes and high levels of uncertainty. At this critical juncture, policymakers need to look beyond reviving the old economy and instead shift towards a thriving global economy—where growth is revived, social justice more fully realized, and the climate crisis averted.
The Diversity, Equity and Inclusion Toolkit explores the practical opportunities and risks that rapidly emerging technologies represent for diversity, equity and inclusion efforts. The toolkit outlines how technology can help reduce bias from recruitment processes, diversify talent pools, and benchmark diversity and inclusion across organizations. Research is also cited that suggests well-managed diverse teams significantly outperform homogenous ones over time, across profitability, innovation, decision-making, and employee engagement.
Diversity, Equity and Inclusion 4.0: A Toolkit for Leaders to Accelerate Social Progress in the Future of Work
To date, organizations across the world have followed the American lead when it comes to DEI. They’ve benefited from the extensive research, data, literature, role models, best practices, narratives, and success stories and have been inspired to address inequality in their own workplaces. But for global organizations aspiring to be inclusive of diverse talent across their international teams, it’s just as important that employees in Paris, Mumbai, and Buenos Aires are on board as it is for those in New York and Seattle. To achieve this, leaders can draw inspiration from the management term “glocal,” a mix of the words global and local.
Overall, scheme managers and custody visitors were well trained and were continuing to learn from training sessions provided by the Independent Custody Visiting Association (ICVA) and Police and Crime Commissioners (PCCs). However, there were still gaps in the ability of both scheme managers and custody visitors to identify and challenge direct and indirect discrimination.
Just Visiting? Exploring the Effectiveness of Independent Custody Visitors at Monitoring Race and Gender Equality in Police Custody
Diversity Wins is the third report in a McKinsey series investigating the business case for diversity, following Why Diversity Matters (2015) and Delivering Through Diversity (2018). Our latest report shows not only that the business case remains robust but also that the relationship between diversity on executive teams and the likelihood of financial outperformance has strengthened over time. These findings emerge from our largest data set so far, encompassing 15 countries and more than 1,000 large companies. By incorporating a “social listening” analysis of employee sentiment in online reviews, the report also provides new insights into how inclusion matters. It shows that companies should pay much greater attention to inclusion, even when they are relatively diverse.