One report on immigration, six different news stories

November 7, 2014

This week saw the publication of research on the economic impact of immigration to the UK. The breaking media reports made me think of six authors in search of a headline

The research was conducted by the Centre for Research and Analysis of Migration (CReAM) at University College London (UCL) and published by the Royal Economic Society in the Economic Journal.

In its own summary of the work, UCL headlined it as

Positive economic impact of UK immigration from the European Union: new evidence , adding that the report showed that European immigrants to the UK have paid more in taxes than they received in benefits, helping to relieve the fiscal burden on UK-born workers and contributing to the financing of public services.

A political football match starts

The report signaled the kick off at a political football match as national and international media joined the game. The headlines show how a complex report can be reported selectively.

Sky News

The Sky headline selects the main point indicated in the UCL article, that EU migrants pay in more than they take out of the economy

The Guardian

The Guardian touches on the political point that the UK ‘gains £20 billion’ from EU migrants

The BBC

The BBC suggests that New EU migrants add £5bn to UK

Business Week

Business Week notes that EU migrants ‘ add billions to UK public finances

The Telegraph and Daily Mail

The Telegraph and Daily Mail have taken a different approach.

The Telegraph notes that ‘Immigration from outside Europe cost £120 billion’; The Mail that Non-EU migrants are costing £120 billion.

Making sense of the headlines

You have to look at the report to decide which headlines summarize what the authors believe to be the key finding of their report, and which headlines are, shall we say, more selective.


Tim Cook makes the case for an inclusive workplace

November 4, 2014

Paul Hinks

So Tim Cook is gay. The announcement wasn’t so much about the ‘outing’ of Tim Cook, as a message that openly supports diversity and equality in the workplace. The fact that Tim Cook is CEO of Apple, America’s largest firm, adds gravitas to the story.

Race, gender, age, disability, sexual preference are all topics with which organizations have to grapple. Firms are keen to demonstrate they are operating a diverse and ethical workplace where everyone has their fair chance regardless of their personal circumstance or outlook. Perhaps too many firms ‘talk the talk’ with the aim of ticking a box in a corporate brochure?

Tim Cook’s announcement provides an authentic message that Apple is an organization that understands the importance of providing support to ‘their most important asset’. Harnessing different perspectives from a diverse workforce provides a win:win – people with different values and background see things differently from those who are turned into generic corporate clones – walking and talking a certain way – it can all become a bit a dull, boring and predictable. Tim Cook’s announcement is not about him per se; it’s about promoting equality and diversity – and perhaps re-enforcing a culture that can provoke creativity and innovation.

Tim Cook has never denied being gay, but he is acknowledged and recognized as being a private individual. So to publicly make a statement about a private and personal matter, and then place the context of the statement around support for others deserves credit and recognition.

The New York Times provided insight and a deeper perspective:

As Lloyd Blankfein, the chief executive of Goldman Sachs, put it, “He’s chief executive of the Fortune One. This is Tim Cook and Apple. This will resonate powerfully.”

Mr. Cook was plainly reluctant, and, as he put it in his essay in Bloomberg Businessweek, “I don’t seek to draw attention to myself.” But, he wrote, he came to the realization that “If hearing that the C.E.O. of Apple is gay can help someone struggling to come to terms with who he or she is, or bring comfort to anyone who feels alone, or inspire people to insist on their equality, then it’s worth the trade-off with my own privacy.”

Mr. Cook’s essay also seemed carefully drafted to be inclusive, to embrace anyone who feels different or excluded, which could broaden its impact far beyond the lesbian, gay, bisexual and transgender communities. Mr. Cook was “wonderfully candid about why it was difficult for him to come out,” said Kenji Yoshino, a constitutional law professor at New York University and co-author of “Uncovering Talent: a New Model for Inclusion.”

“When I give presentations on diversity and inclusion in organizations, I often start by noting that of the Fortune 500 C.E.O.s, 5 percent are women, 1 percent are black and zero percent are openly gay,” Professor Yoshino said.

In his essay, Mr. Cook wrote that he was many things besides being gay: “an engineer, an uncle, a nature lover, a fitness nut, a son of the South, a sports fanatic.” Professor Yoshino noted: “When Drew Faust became the first female president of Harvard, she made a similar point. ‘I am not the woman president of Harvard,’ she said. ‘I’m the president of Harvard.’ ”

Apple’s future success

Since taking over the leadership of Apple from Steve Jobs in 2011, Tim Cook has demonstrated that he can successfully pilot the largest corporation in America. Tim Cook is not Apple’s ‘gay’ CEO, he’s Apple’s current and successful CEO.

In terms of competitiveness, Apple is currently riding the crest of a wave. The recent product launch of the iPhone 6 broke all records – so there’s no obvious need for a cheap publicity stunt. Tim Cook’s announcement shouldn’t be seen much as statement about himself, rather his statement symbolises the importance of providing an inclusive, diverse and stimulating workplace, one which supports new ideas, aims to look at the same situation from different perspectives – a culture true to Apple’s values – one which fosters creativity and innovation.

In the future, perhaps Tim Cook’s announcement will be reflected upon as the time when Apple took a leadership position in supporting diversity and equality in a positive and effective way. It will be interesting to see how many other industry leaders follow Mr Cook’s lead.


Put not your trust in leadership books: but don’t ignore them either

November 2, 2014

Here’s how to deal with a dilemma of trust and authority

You are about to take a flight on a business assignment. You are enticed in to the book store in the Departure Lounge where you are confronted with a multitude of brightly-coloured books on leadership.

Some are shiny new reprints of classics still selling by the zillion, such as Stephen Covey’s The Seven Habits of Highly Effective People or the granddaddy of self-improvement books How to Win Friends and Influence People by Dale Carnegie. Others are the hot hits of the year, placed for maximum impact. Among them are those books positioned as impulse buys, alongside the other last-minute hi-calorie temptations as you approach the check-out.

How do you decide which book to buy?

It is a question I have put to several thousand business executives over the last few years. The Airport Departure Lounge provides a highly specific situation. It is one which encourages intuitive judgement over careful analysis. The decision is arguably a trivial one from a strictly economic perspective. What’s important is that the purchase puts the author in a powerful position of owning your undivided attention for several hours. It may take you half a chapter to decide you are better off with the in-flight magazine or video choice, but by then it’s too late.

A suggestion

One approach is to examine the books for the claims made. The more the author asserts without a lot of evidence, the more the book needs approaching in a spirit of testing the assertions. With practice it becomes easier to avoid buying a real dog.

New ideas as retreads

It is difficult to come across a really new and useful business idea. In general, the ‘new idea’ tends to be a re-tread of older ideas. That does not of itself make the book useless. But the more you can see the connections with other authors you have read, the easier it is to assess its contribution. I prefer books which indicate which earlier writers influenced the authors, and how.

Don’t start from here

Another suggestion comes from the old Irish saying that “if you want to get there, I wouldn’t be starting from here.”

You pre-planned a lot of other aspects of your business journey. It only takes a few moments to pre-plan your reading. You will find ‘business books of the month’ and ‘business books of the year’ published on a regular basis in various print and on-line journals. The criterion of ‘best-sellers of the month’ may appear a rather rough guide to quality, but the additional information easily obtainable at least provides you with a few to put on your short-list before you reach the departure lounge.

The Financial Times shortlist

So, for example the six books on The Financial Times shortlist for Business Book of the Year in 2014 were:

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies by Erik Brynjolfsson and Andrew McAfee

Creativity, Inc: Overcoming the Unseen Forces that Stand in the Way of True Inspiration  by Ed Catmull with Amy Wallace

Hack Attack: How the Truth Caught up with Rupert Murdoch by Nick Davies

House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It From Happening Again by Atif Mian and Amir Sufi

Capital in the Twenty-First Century by Thomas Piketty

Dragnet Nation: A Quest for Privacy, Security, and Freedom in a World of Relentless Surveillance by Julia Angwin

The list shows the wealth of interesting and well-researched business books published every year. Unsurprisingly, the six are the sort of books most available to purchase in that airport departure lounge.