Corporations are part of communities and must build and maintain trust while helping stakeholders, not just shareholders, says Marc Benioff, CEO of Salesforce. "If you put growth above trust, then all of a sudden you create a toxic culture," he says, citing a Facebook memo that he says espoused growth as a priority.
A Bank for International Settlements report warns that bitcoin and other cryptocurrencies are unlikely to ever become mainstream currencies because they are vulnerable to fraud and manipulation, are unstable, and require huge amounts of electricity. If blockchain software processed the digital retail transactions now handled by national payments systems, the communication required "could bring the Internet to a halt," the BIS said.
Defensive people are quick to deflect blame, so be equally quick to bring the conversation back to the reason you approached them, writes Dan Rockwell. Respectfully but assertively focus in on their role in the matter, he writes.
Many people are not inherently bad, but they take unethical actions because they haven't been trained at school or work in what ethical competence means or how to develop it, writes John Hooker of Carnegie Mellon University. The right training "gives those with autonomy the intellectual tools they need to make responsible decisions and build consensus around them," he writes.
Companies should spend more than half of their innovation budgets on creating different experiences and features for already successful products, writes Gino Chirio of Maddock Douglas. Spend the least on high-risk offerings that attempt to reach new buyers with new products, Chirio argues.
Employees respond best to a culture that supports them through rough patches and reminds them why their work is important, writes Julie Zhuo of Facebook. "I can't recall an example of groundbreaking work coming from an environment of stress, anxiety, and fear of failure," she writes.
Anna and Sebastian Schluter of Germany are traveling across Europe in a modified fire truck. They converted the Mercedes-Benz vehicle into a camper with a dining area, full kitchen and rooftop solar panels.
The NBA has always been a star-driven league, but Stephen Curry and Kevin Durant of the Golden State Warriors have shown that winning titles today requires multiple stars learning how to coexist and thrive, writes Jonathan Tjarks. "If the two ignore the noise and stay together, they can redefine how we think about superstar pairings," Tjarks argues.
Recognizing people for good work is proven to improve trust, performance and well-being for everyone involved, writes Julie Winkle Giulioni. Offering positive reinforcement doesn't require a lot of time but should be built into your day, she writes.
The Federal Reserve plans to let some non-US banks, including BNP Paribas, Deutsche Bank and Swedbank, adhere to home-country standards on interbank loans, instead of following newly adopted rules from the Fed, subject to the banks having pre-agreed levels of assets and comparable domestic standards. "This modification should address in large part the regulatory burden concerns raised by foreign bank commenters," Fed economist Jeffrey Zhang says.
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