FEI Weekly

March 29, 2018

The best and worst cities for small businesses, 2018’s biggest cyber-security risks, and why we need to stop talking about Blockchain.

The Best and Worst Cities for Small Businesses

Fast Company

A new study from LendingTree looked at data from small-business owners around the country to determine where small businesses thrive and where they fail. LendingTree looked at businesses that earn an annual revenue of less than $7,500,000, have been in business for at least six months and no longer than 60 months. Topping the list of places that are hard on small businesses was Cincinnati, followed by Rochester, Philadelphia and Louisville. The best cities were Sacramento, Grand Rapids, Portland, and Knoxville.

2018’s Biggest Cyber-Security Risks

IT Online

As businesses are increasingly reliant on digital platforms for almost every aspect of their operations, an attack can cause everything from direct financial loss and brand damage, to destroyed consumer trust, supply chain disruption, contract and SLA breaches, and regulatory fines. Web application firewalls, using AI to identify cyber threats, combating weaponized devices in DDoS attacks, digital 'neighborhood watch’ to beat phishing attacks, and big leaps forward in encryption will all be big themes this year.

Why "Diversity of Mind" is a Business Imperative

McKinsey & Company

“Firms fail when you have groupthink. You generally have groupthink when you have replicants all around you,” CEO of BlackRock Larry Fink says. According to Fink, it’s very easy to see across a business and ask, how many women are there? What’s the gender mix? It’s very easy to see if there is a diverse group of men and women with diversity of race. "We don’t spend enough time asking: Do we have an organization with diversity of mind? I think this is where most companies fall down."

When the Hype Subsides, Blockchain Will Change the World

Forbes

Blockchain’s power to transform the world can only be fully harnessed when we stop talking about blockchain and the hype is replaced by this technology fading to the background. The more blockchain-based solutions meaningfully intersect with the real world without requiring a giant neon sign that says blockchain (although it is increasingly becoming a brand proxy for trust), the better for the technology and the better for the world. Nothing portends this change more than our collective distrust in institutions (public and private) and an upcoming technology-native generation who have a newly found political voice. Blockchain will be their friend.

Ask These 3 Questions Before Crowdsourcing Business Decisions

Quartz

Many companies are moving toward "consensus decision-making," habitually opening the floor to contributions from team members. This can significantly slow down decision-making and create unnecessary confusion. To improve decision-making, companies should make clear up front whose input really counts—and whose does not by implementing a decision-making checklist. Before pulling employees into endless rounds of project meetings, ask these three questions: Who is the decision-maker? Who are the people we will consult? Who are the people that will be informed?