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Magazine Spring 2018 Issue Research Highlight
The Five Steps All Leaders Must Take in the Age of Uncertainty
Corporate executives need to move beyond only managing their own company and become active influencers within broader systems.
Martin Reeves, Simon Levin, Johann D. Harnoss, and Daichi Ueda July 11, 2017 Reading Time: 6 min
Global Strategy
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Business leaders increasingly find themselves in unfamiliar territory marked by high levels of uncertainty and instability, a slowing global economy, and shifting political realities. Global economic policy uncertainty has tripled since 2000 and continues to accelerate.1 Our own research shows that this systemic uncertainty feeds into corporate decision-making. Companies are more exposed than ever to economic and political feedback,2 and their performance swings are increasingly due to noncompetitive effects.3 This phenomenon affects players across entire industries and, in the extreme, can threaten their very survival.
Take the U.S. retail industry, for example. Over the last several decades, companies like Walmart, The Gap Inc., and many others successfully played a global cost arbitrage game by taking advantage of labor cost differences, low trade barriers, and IT advances. As we know today, such sourcing strategies have unleashed economic, social, and political feedback effects, culminating in strong political backlash. Retailers now face the possibility of a border adjustment tax, which, if implemented, could wipe out a substantial proportion of the industry's profits.4
The examples are manifold and not limited to the United States. Consider utilities in Europe, where companies underestimated the social demand and resulting political support for renewable energy. The top 10 European energy utilities lost 40% of their market value since their peak in 2007 — the top 3 lost as much as 75%.5
Political and macroeconomic forces are shaping the business environment as never before. The implications for corporate strategy and leadership are profound.
Change in Perspective Needed
We believe business leaders need a new mental model to better understand the complex interplay between companies, economies, and societies. To do so, they must shift their focus to the broader business and social ecosystems in which their companies are embedded. These ecosystems are nested complex adaptive systems: multilevel, interconnected, dynamic systems hosting local interactions that can give rise to unpredictable global effects and vice versa. Acknowledging the unpredictability, nonlinearity, and circularity of cause-and-effect relationships within these systems is a notable departure from the simpler, linear models that underpin traditional mechanistic management thinking.
What does a nested ecosystem look like? Companies are part of industries and markets — business ecosystems — that are embedded in local and national economies, which in turn are interwoven with societies.
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Martin Reeves is a senior partner at The Boston Consulting Group's (BCG) New York office and director of the BCG Henderson Institute (BHI); he tweets @MartinKReeves. Simon Levin is professor of ecology and evolutionary biology at Princeton University who specializes in the theory and management of complex adaptive systems. Johann D. Harnoss is a project leader at BCG and an ambassador to the BHI. He tweets @Johann_Harnoss. Daichi Ueda is a consultant at BCG and ambassador to the BHI.
1.See, for example, the Global Economic Policy Uncertainty Index at http://policyuncertainty.com.
2.See M. Reeves and J. Harnoss, "The Business of Business Is No Longer Just Business," June 6, 2017, www.bcg.com.
3.BCG analysis comparing the relative performance effects of noncompetitive factors (political/regulatory exposure) and competitive factors (e.g., profitability, EBIT [earnings before interest and taxes] margin). The importance of noncompetitive factors has increased relative to competitive ones (from 0.4x to 0.6x) and even exceeds competitive factors in financial services (~1.4x).
4.See M. Reeves and J. Rose, "Rethinking Your Supply Chain in an Era of Protectionism," March 22, 2017, www.hbr.org.
5.BCG analysis based on S&P CapitalIQ.
6.BCG analysis based on S&P CapitalIQ. Intel share price grew from $0.81 to ~$34.20 (end of June 2017).
Competitive Strategy, Global Economy & Trade, Strategic Thinking, Uncertainty
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Patrick Hoverstadt
Gentlemen - Like the article.
Absolutely agree that an understanding of the ecosystem is critical.  We have developed an approach to strategy based on strategic fit within an organisational ecosystem. Just wanted to reinforce some of the points you made.
Your first point about understanding the whole ecosystem – we have a client which used the approach to inform their strategy development, by modelling how the battle for supremacy in their ecosystem was likely to play out and therefore pick a strategic partner to collaborate with.
Re nature of intervention, this way of thinking changes the design and execution of strategic interventions.  A financial institution developed a three-strand strategy which changed their relationships with the regulator, the market and their competitors, through an understanding of the interactions of those relationships.  Some of the changes were quite subtle based on identifying non-obvious high leverage points in the system.
It's worth pointing out that both these interventions were really fast to do (in one case, orders of magnitude faster than the approach they had been using) – and of course being able to develop good strategy fast is in itself a competitive advantage.
As you say, it's critically important to be able to develop strategy in both competitive and collaborative situations – and in those which are a bit of both, and we have numerous examples of these.
One of the most rewarding things about using the Patterns of Strategy approach with clients is the way it changes how they think about strategy – much more fluid and dynamic, considering their own possible actions and those of the others and the interplay between them – they are really thinking about the ecosystem, how it's working today and how it might evolve.  Our approach is based on Maturana's structural coupling model from biology. One of the unexpected benefits of the approach has been a catalogue of about 100 patterns of strategy which we see playing out in different organisations and different contexts. If you're interested in the approach, which we've been using for about 5 years and with about 50-60 organisations, you could have a look at www.patternsofstrategy.com or
www.amazon.com/Patterns-Strategy-Patrick-Hoverstadt/dp/1138242675/ref=sr_1_1?s=books&ie=UTF8&qid=1501858229&sr=1-1&keywords=patterns+of+strategy
simbarashe kamba
This is baseline insightful article, that, would-be business leaders and current leaders need to have take-a ways.  Thoroughly enjoyed the article for it is relevant to the kind of industry that the organization I work for  belongs.Anticipation of change processes through a collective envisioning of business ecosystems and being proactive in strategy formulation and implementation to hedge against business weakness in the competitive global economy is the way to go.No longer is the ardent "business as usual". Was just thinking of the impact and results that could, may be, in the next 5-10 years come from corp orates going global and the agile political,social, economic changes that they face and how they could mitigate to influencing governing authorities in those countries in policy changes and or  other stakeholders in the communities that the corp orates will be operating to increase revenue streams!


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Heavy-hitter investors join forces for new $230 million SPAC
Joseph Czikk
.	 Published on September 21, 2021. September 23, 2021 0
Several well-known Montreal tech investors have joined forces to create a new special purpose acquisition company (SPAC).
The new SOAR Technology Acquisition Corp is announcing the close of its $230 million initial public offering (IPO) of 20 million units at $10 per share.
A SPAC is a "blank cheque" shell company, meant to raise money through an IPO for the purpose of acquiring an existing company.
Given SOAR's leadership's track record within the travel and tourism space – and the NYSE stock ticker "FLYA," – one might reasonably guess SOAR's target would be a company within the airline or travel tech spaces.
SOAR's prospectus says the SPAC will target a company valued between approximately US $1 billion and $5 billion USD.
We believe there are numerous partners operating in the technology and technology-enabled industries that are well-advantaged and highly scalable with the right guidance from an acquisition partner. We are targeting a company valued between approximately $1 billion and $5 billion that has a sizable market share and capacity to achieve a market leading position. Our vast sourcing network grants us access to a wide range of investment candidates, while our structured acquisition process lends itself to rigorous diligence of underlying fundamentals and evaluation of potential expansion avenues. Our team's public market experience allows us to mentor founders to become well equipped for the transition to public markets.
The company is headed up by Joe Poulin and his JPK Capital. Poulin's track-record in Quebec's tech ecosystem includes founding and later selling Luxury Retreats to Airbnb for $200 million. Poulin left Airbnb in 2019 to focus on JPK Capital.
Joining him will be inovia Capital's Patrick Pichette and Chris Arsenault, each coming with substantial track records themselves. Pichette previously served as senior vice president and chief financial officer of Google Inc from 2008 until 2015, and now serves as the chair of the Twitter Board of Directors. He also holds board seats with Hopper, Lightspeed, LabGenius, the Trudeau Foundation and more.
No stranger to large business deals, Pichette bought the 65,000-acre Kenauk nature reserve for $40 million in 2014 with a group of partners. Kenauk is one of the largest wild tracts of private land in North America.
Arsenault, meanwhile, helped cofound inovia Capital in 2007 and recently steered the ship to its recent $450 million USD ($577 million) growth fund, announced in March.
Expedia CEO Peter Kern is also part of the new SPAC, adding even more star power. Prior to Expedia, Kern was CEO of Tribune Media and managing partner of InterMedia Partners, a private equity firm, and senior managing director at Alpine Capital.
SOAR's marketing and comms rep told MTLinTECH that the firm is toward a 15-month window to identify the right partner company. They'll seek a company with a global mandate, but with a focus on the United States and Canada. That target would "leverage relationships from the partners' current portfolio and investments previously evaluated by both JPK Capital and Inovia Capital."
SPAC Mania
SPACs are generally formed by investors, or sponsors, with expertise in a particular industry or business sector, with the intention of pursuing deals in that area, notes Investopedia. In creating a SPAC, the founders sometimes have at least one acquisition target in mind, but they don't identify that target to avoid extensive disclosures during the IPO process.
SPACs have become more common in recent years, with their IPO fundraising hitting a record $13.6 billion in 2019—more than four times the $3.2 billion they raised in 2016. They have also attracted big-name underwriters such as Goldman Sachs, Credit Suisse, and Deutsche Bank.
Virgin Galactic, DraftKings, Fisker and Nikola are all big names that have gone public via the SPAC route over the past few years.
Not all are completely convinced of the SPAC trend, though.
Billionaire investor Sam Zell called the SPAC craze largely a "rampant speculation" reminiscent of the dot-com bubble in the 1990s.
"It's been very rare since the dot-com bubble for tech companies to go public with zero revenue," Jay Ritter, professor of finance at the University of Florida, told Investor's Business Daily. "But now we're seeing some companies with zero revenue rushing to market. History shows that has not been kind to investors."
"The SPAC market has evolved rapidly but I don't think current pace can continue," added Ritter. "There is a limit as to how much the market can absorb."
Tags iNovia CapitalPatrick PichetteSOARSPAC

redpajama_set_name: RedPajamaCommonCrawl


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S. 754 / H.R. 2029
Privacy and Control: CISA
CISA was reintroduced and passed -- secretly buried in a 2000 page budget bill.
› view
What We Are Up Against
Senators and lobbyist are next door neighbors -- literally. "What's up buddy? How you doing? May I borrow a cup of sugar? And anything I can do for you?"
by Loyal 9 staff
Photo by Erifnam, via Creative Commons, http://en.wikipedia.org/wiki/User:Erifnam
"This is what businesses want."
That is the rationale that "constitutionalist" Chris Stewart, a republican rep from Utah, sent back to a Loyal 9 member regarding CISPA. He was defending a bill that would allow law enforcement to access business communications data without a warrant. Perhaps it is what "businesses want" because it also protects them from ANY liability in these biz/govt data exchanges. Regarding decisions on the hen house, Stewart was quoting the fox.
It seemed to me a spectacularly poor defense of a Bill of Rights stab in the back at the time. It still does, of course, but now, after my visit to DC, I see where he is coming from. Where he is coming from is lunch with the neighbors.
Literally -- neighbors. The Senate's Hart Office building here. Lobbyest there. "Hello, neighbor AFL-CIO." Rayburn office building for the house reps here. Exxon AND BP there. There across the mall in that spectacular granite building -- no not another Smithsonian; it's the National Academy of Sciences. That's pretty powerful real estate for a "private, non-profit society of distinguished scholars . . . charged with providing independent, objective advice to the nation on matters related to science and technology." Somehow it was both "established by congress" and "private and independent." Hey, the Fed has a sibling.
The set up in Washington is practically "Home Improvement": Tim Allen and neighbor chatting over the fence. But this time with legislators and lobbyest the conversations must be like this. "What's up buddy? How you doing? Anything I can do for you? May I borrow a cup of sugar. Sooooo, we got that vote coming up on CISPA -- think you could slip in a clause that protects us from getting sued? In exchange, we'll give you access to our data. Oh, no, the people won't care. It's only meta-data. Bill of Rights, huh? Oh, don't worry, that's just something I mention in my campaign, but hey, that's a great flag lapel pin."
Well, our elected officials aren't going to listen to us because we are neighbors. They're not going to listen to us because we are friends. They aren't going to listen to us because we have the money to shape the dialogue. They are going to listen to us for one reason. We are the voters. In the end, that is what they care about. Keep fighting. Keep spreading the word.
at 09:26AM
Thanks for sharing this information.
The exact contrary of what is generally believed is often the truth."
- Jean de la Bruyère
The United States of Dysfunction, by Carl Jarvis
The hour is grave because of what we have forgotten.
Uh-oh
And now there are two (er, three?). Did it matter which? After watching the debates, it seems being AGAINST Liberty is now a campaign technique. And the winners are . . . (not the Bill of Rights).
The UN to Implement Universal Biometric Identification
Target date is 2030
Be Afraid: The FCC Internet Grab -- In the Insiders' Own Words
Take a failed issue. Give it a righteous new name. Get people begging for government salvation. Ram the details through in secrecy. Paranoid indeed.
Lobbying for Tyrants
A must read: on the surface it is about the people who work behind the scenes for Trump. More deeply, it is an expose on the way the world really works. How are we brought to believe what we believe?
Franklin Foer, via Slate
Press Took Marching Orders from Clinton While SecState
FIA acquired emails document favorable treatment for favorable treatment
Blake Neff, via the Daily Caller
The Money Monopoly
How do banks keep fees high and rates they pay low despite "Competition"? They're all owned by the same people.
Eric Posner, via Slate
Washington Post: "Massive Decline in Gun Violence"
Max Ehrenfreund, via The Washington Post
L9 Member Highlight
Most important from that [David O. McKay] quote: Your question must always be: "Not what does a law give me, but what does it take away from me?"
- Mark, CA
2014 © Loyal 9, LLC. All rights reserved.


"To me the most remarkable thing about this union [of talking machines and cinematography] is the speed and completeness with which it has been accomplished."
creation of a new art form.
images from a lost age.


The Brooks Ghost 11 and the Brooks Levitate 2 are neutral running shoes from Brooks with the main goal of the Brooks Ghost 11 being to cushion your ride and the main goal of the Brooks Levitate being to energize your run.
The uppers of the Brooks Ghost 11 and the Brooks Levitate 2 are similar in that they are mostly seamless and have a forefoot that is wide open and free from overlays.
It is clear by looking at the uppers of the Brooks Levitate 2 and the Brooks Ghost 11 that these two running shoes are meant to deliver comfort to neutral runners.
However, the Brooks Levitate 2 takes comfort a step further than the Brooks Ghost 11 does.
The Brooks Levitate 2 has a Fit Knit upper that delivers lightweight support, but it also comes with an internal bootie to increase the amount of comfort inside the running shoe.
The Brooks Levitate 2 also comes with a heel collar that wraps around your foot for plush comfort and a sueded heel tab that is meant to protect your Achilles tendon from getting irritated.
The Brooks Ghost 11 has more basic features in that its upper consists of mesh that is more open in the forefoot and more closed around the midfoot and heel to increase the amount of lightweight support at the back.
Because the mesh of the Brooks Ghost 11 is more open, it might also turn out to be more breathable in the forefoot compared to the Brooks Levitate 2.
The heel of the Brooks Ghost 11 is also more closed and delivers a bit more support than that of the Brooks Levitate 2.
All in all, while the uppers of both running shoes are geared towards maximizing comfort, the Brooks Levitate 2 increases comfort inside the shoe as well as around your heel, while the Brooks Ghost 11 increases support around your heel.
The midsoles of the Brooks Ghost 11 and the Brooks Levitate 2 differ in construction and materials used.
The Brooks Ghost 11 comes with one main layer of foam (BioMoGo DNA) that is meant to deliver a good amount of cushioning yet still feel responsive, and it has a crash pad under the heel that consists of foam (DNA LOFT) that delivers lots of cushioning.
The midsole of the Brooks Levitate 2 also has one main layer of foam, but does not have a separate crash pad under the heel.
In addition, the midsole material (DNA AMP) used by the Brooks Levitate 2 is meant to deliver cushioning and also return your energy. This results in a cushy and springy ride.
In terms of cushioning, men get an overall soft ride from the Brooks Ghost 11 with a very cushy heel, while the Brooks Levitate 2 delivers a more moderate amount of heel cushioning and a cushy forefoot.
Therefore, men would get an overall softer ride in the Brooks Ghost 11 than in the Brooks Levitate 2.
Women get a moderate amount of heel and forefoot cushioning from the Brooks Ghost 11, while the Brooks Levitate 2 also gives them a moderate amount of heel cushioning but a cushy forefoot.
Therefore, women would get an overall softer ride in the Brooks Levitate 2 than in the Brooks Ghost 11.
In both cases, irrespective of the amount of cushioning you get from either running shoe, the Brooks Levitate 2 is the one that returns more energy to you.
Note that the Brooks Ghost 11 has a higher heel-to-toe drop (about 4 mm higher) than the Brooks Levitate 2. This is because the Brooks Ghost 11 sits a bit higher off the ground under the heel, but the Brooks Levitate 2 sits a bit higher off the ground under the forefoot.
The midsoles of both running shoes deliver a good amount of ground contact, which adds some stability to your runs as well as help you to achieve smoother heel-to-toe transitions.
However, because the Brooks Ghost 11 comes with a separate crash pad that runs from the back of the heel around the lateral side all the way to the midfoot, and because it delivers a good amount of support around the heel, it can be seen as being somewhat more stable than the Brooks Levitate 2.
The outsoles of the Brooks Levitate 2 and the Brooks Ghost 11 differ in construction.
The outsole of the Brooks Ghost 11 displays lots of separation and segmentation, which is good for shock absorption and dissipation, which in turn is good for smoothening your ride.
The crash section under the heel of the Brooks Ghost 11 is well segmented and isolated enough to absorb shock.
The Brooks Ghost 11 tends to have small rubber pods throughout its entire midsole, but it comes with only three deep flex grooves in the forefoot.
The Brooks Levitate 2 has a crystal rubber outsole that has an arrow-point pattern to help you move quickly from heel to toe and not waste much energy.
The Brooks Levitate 2 has four deep flex grooves in the forefoot, and its crash area under the heel is well segmented but has a connection to the forefoot via the rubber.
Therefore, the Brooks Ghost 11 is more likely to smoothen your ride more than the Brooks Levitate 2.
However, the setup of the outsole of the Brooks Levitate 2 helps it to deliver more flexibility than you would get from the Brooks Ghost 11, which turns out to be stiff for both men and women.
The women's version of the Brooks Ghost 11 weighs approximately 9.5 oz (269 grams), and the Brooks Levitate 2 for women weighs 9.9 oz (281 grams).
The men's versions of the shoes weigh 10.9 oz (309 grams) and 11.2 oz (318 grams), respectively, with the Brooks Ghost 11 being the lighter one.
The Brooks Levitate 2 is a somewhat heavier running shoe than the Brooks Ghost 11, but in return you get more comfort and a more bouncy ride that should energize you to run longer or faster.
If you are a neutral runner who is looking for a soft ride from a running shoe, you could turn to either the Brooks Ghost 11 or the Brooks Levitate 2.
Both the Brooks Levitate 2 and the Brooks Ghost 11 are good for long runs and can deliver smooth heel-to-toe transitions, but your ride might be overall smoother in the Brooks Ghost 11 and bouncier and more comfortable in the Brooks Levitate 2.


Titanic And Her Sisters was formed on April 28th 2010 by Ryan Whyte, where we can`t believe its been nearly five years already.
Our goal its create a successful online community for Titanic And Her Sisters fan`s worldwide, as we believe they deserve to be known across the globe. We are based in Dundee, United Kingdom, an each member of our team, has different reasons for being part of the team but all love and want to learn more about the iconic trio Titanic, Olympic & Britannic along with a lot more.
We aim to provide the most accurate information and facts about Olympic, Titanic & Britannic, whether its through social media, one-to-one or at our events. We aim and would love to work with societies across the globe, by making the true story of Olympic, Titanic, Britannic is heard! of course we are not just all about the three Olympians, we thrive on White Star Line itself and all other ships it built, operated throughout the decades along with Cunard!
From 2015 we are looking for possibilities to share a stage with societies and organisations that are about the White Star Line or the sisters to any other ocean liner material related, from United Kingdom to United States, Ireland, Dubai and more!
2016 is looking great for Titanic And Her Sisters, with some trips looking likely to Ireland & Northern Ireland along with a possibility a United States visit. Along with more potential events within the city of Dundee with schools and youth organisations.
Since the night after watching James Cameron movie "Titanic", I`ve became a Titanic lover. That was twelve years ago and within that time Iv learned to much and gained double, love the story of the Olympic Class and the ocean liner concept altogether.
I want to share my experience, knowledge about the sisters with all people from all ages, backgrounds as much as possible. Support communities, along with societies across the globe and get the real story out of the sisters!
Well I was originally part of the team of Titanic And Her Sisters to help out and help out a friend, but as time went on, I became part of the largest community of the Olympic class.
I realized that I could share with a lot of people my knowledge about the White Star Line and ocean liners in general.
I find ocean liners extremely interesting, their story, what they did and meant to their country, how they changed people's lives and the world, it's all simply fascinating.
I joined Titanic And Her Sisters because when I was eight years old where I first learned of titanic's existence, I was devoured with interest and wouldn't stop until I learned everything about her and because of this page its helped with my quest for knowledge.
I like ocean liners, mostly because they reflect what human kind is capable of creating it shows, what we as a whole are capable of doing if we put our minds together and do things as a team, being part of the team here I bring knowledge as I learn it because it is a little known topic, the age of ocean liners.
In my personal future I hope to serve eight years of my life in the US Coast Guard so that I can assure precious life on the water is well protected and tragedies such as the titanic never have to happen again.


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Q: Shouldn't the login be a Query in GraphQL? In the tutorial on GraphQL authentication, the login is a Mutation:
type Mutation {
  post(url: String!, description: String!): Link!
  signup(email: String!, password: String!, name: String!): AuthPayload
  login(email: String!, password: String!): AuthPayload
}

Shouldn't the login be a Query since:

*

*The operation has no side-effects on the server.

*The goal is to query a token.

Am I missing something here ?

A: In the context of that example, login should be a Query instead of a Mutation assuming its resolver has no side-effects, at least according to the spec. However, there's a couple of reasons you probably won't see that done in the wild:

*

*If you're implementing authentication, you'll probably want to log your users' account activity, either by maintaining some data about login/logout events or at least including some sort of "last login" field on the account's record. Modifying that data would be a side effect.

*A convention has evolved that treats any operations that result from user actions as Mutations, regardless of side-effects. You see this with react-apollo, for example, where useQuery fires the associated query on mount, while useMutation only provides a function that can be called to fire that query. If you're planning on using Apollo client-side, it's worthwhile to consider those sort of client features when designing your schema.

*Mutations are ran sequentially, while queries are ran simultaneously. That means it'd be foreseeable to fire a login mutation and one or more other mutations after it within the same call, allowing you to utilize an authenticated context for the subsequent calls. The same could not be said for queries -- if login is a query and you include other queries with it in the same operation, they will all begin resolving at the same time.
Outside of how they're executed (sequentially vs simultaneously), on the server-side, queries and mutations are effectively interchangeable. You could have queries with side-effects and mutations with no side effects. You probably should stick with conventions, but I think sometimes there's valid reasons where you may have to throw those conventions out the window.

redpajama_set_name: RedPajamaStackExchange


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Welcome to Heathfield Dental Clinic.
Come and see our experienced team who is happy to see you at short notice. The practice has a wealth of professional expertise so you can feel relaxed and confident that your treatment will be exactly as you expect. We understand that many patients feel apprehensive about dental work so we spend time explaining what will happen, how long it will take and how to manage your recovery after the treatment. In addition to general dentistry needs such as check-ups, routine work and maintaining general oral health, we also offer cosmetic treatments such as whitening and comprehensive hygienist cleans.
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Demihuman Deities is a Dungeons & Dragons 2nd edition: Forgotten Realms campaign accessory, published by Wizards of the Coast.
This book presents information on the pantheons of five nonhuman races of the Forgotten Realms: the drow pantheon, the dwarf pantheon, the elf pantheon, the gnome pantheon, and the halfling pantheon. The supplement provides numerous spells and special powers with which to make each different faith unique from the others. The book details the clergy, the ethos, and all important information needed to accurately depict these deities in the Forgotten Realms campaign setting.
Demihuman Deities was designed by Eric L. Boyd, with cover art by Todd Lockwood, and interior illustrations by Ned Dameron.
This book is third in a series of sourcebooks about the Faerûnian pantheon, preceded by Faiths & Avatars and Powers & Pantheons.
This page was last edited on 16 August 2018, at 11:51 (UTC).