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Eight business technology trends to watch

Eight emerging trends are transforming many markets and businesses. Executives should learn to shape the outcome rather than just react to it.

Technology alone is rarely the key to unlocking economic value: companies create real wealth when they combine technology with new ways of doing business. Through our work and research, we have identified eight technology-enabled trends that will help shape businesses and the economy in coming years. These trends fall within three broad areas of business activity: managing relationships, managing capital and assets, and leveraging information in new ways.

Managing relationships
1. Distributing cocreation
2. Using consumers as innovators
3. Tapping into a world of talent
4. Extracting more value from interactions

Managing capital and assets
5. Expanding the frontiers of automation
6. Unbundling production from delivery

Leveraging information in new ways
7. Putting more science into management
8. Making businesses from information

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China’s transformation to a market-oriented economy has been accompanied by a significant increase in the pay gap between men and women. In many industrialized economies, gender-based differences are most pronounced in white-collar jobs, creating a “glass ceiling” for women who work in the office. But as China industrializes, gender pay differences are most striking among blue-collar workers. In this video interview, economists Li Bo and Chi Wei from China’s Tsinghua University consider whether China’s female factory workers labor on a “sticky floor.” The professors are the recent recipients of the first McKinsey Economics Award issued by the McKinsey China Council of Business Economists. Janamitra Devan of the McKinsey Global Institute conducted the interview in February 2009.

Read the transcript.

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