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MCKINSEY EXPLAINERS
Direct answers to complex questions, backed by McKinsey's expert insights.
TRENDING QUESTIONS
* 1
What is generative AI?
* 2
What is the future of work?
* 3
What is design thinking?
* 4
What is blockchain?
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Digital & Technology
WHAT IS FINTECH?
Fintechs are companies that rely primarily on technology and cloud services—and
less so on physical locations—to provide financial services to customers.
Leadership & Economic Studies
WHAT IS DAVOS?
Davos, Switzerland, is where the World Economic Forum holds its annual meeting.
Delegates from many sectors converge for several days of talks and meetings to
address urgent global issues.
Retail
WHAT IS FAST FASHION?
Fast fashion retailers have sped up their production processes, getting new
styles to customers at a record pace—and creating significant environmental and
social challenges.
Strategy & Innovation
WHAT IS THE C-SUITE?
The C-suite is the group of executives responsible for running an organization.
Digital & Technology
WHAT ARE THE RESPONSIBILITIES OF A CIO VERSUS A CTO?
Broadly speaking, a chief information officer focuses on internal technology,
while a chief technology officer focuses on emerging technologies and product
strategy.
Strategy & Innovation
WHY DO ORGANIZATIONS HAVE COOS?
The operations lead is the counterweight to the external-facing CEO, building
organizational resilience and employee empowerment.
Strategy & Innovation
WHAT DOES A CHIEF TRANSFORMATION OFFICER DO?
A chief transformation officer is the high-level orchestrator of a business
transformation.
Strategy & Innovation
WHAT ARE THE ROLES AND RESPONSIBILITIES OF A CFO?
The CFO role was named for its original function of overseeing an organization’s
finances, but it’s now seen as a cross-cutting common denominator linking every
part of an organization.
People & Organizational Performance
HOW IS THE CHRO ROLE CHANGING?
The new mandate? Propel technological and operating-model changes in HR while
still keeping the “human” in human resources.
Marketing & Consumer
WHY IS COLLABORATION KEY TO CMO SUCCESS?
CMOs are responsible for more than marketing their company’s products or
services. They should also forge strong partnerships with their C-suite
colleagues to drive growth.
Strategy & Innovation
WHAT MAKES A SUCCESSFUL CEO?
The CEO is the person ultimately responsible for the success of a company. Their
job is to develop strategy and deploy the resources to deliver on it.
Sustainability
WHAT IS THE GLOBAL STOCKTAKE?
The global stocktake is an assessment of progress made toward mitigating global
warming since the Paris Agreement in 2015. The results from the first-ever
global stocktake will be discussed at COP28.
Digital & Technology
WHAT IS WEB3?
Web3 is a term used to describe the next iteration of the internet, one that is
built on blockchain technology and is communally controlled by its users.
Digital & Technology
WHAT IS TOKENIZATION?
Tokenization is the process of issuing a digital representation of an asset on a
blockchain.
Sustainability
WHAT IS HYDROGEN ENERGY?
Hydrogen energy is an alternative to fossil fuels that may represent a cleaner
way to power our world.
Digital & Technology
WHAT IS PROMPT ENGINEERING?
Prompt engineering is the practice of designing inputs for generative AI tools
that will produce optimal outputs.
Sustainability
WHAT IS CULTIVATED MEAT?
Cultivated meat is animal protein grown in a lab from animal cells.
Sustainability
WHAT IS COP?
COP refers to the United Nations’ annual conference on climate change. Its 28th
meeting (COP28) is scheduled to begin November 30, 2023, in Dubai, United Arab
Emirates.
People & Organizational Performance
WHAT IS BRAIN HEALTH?
Good brain health means more than just the absence of disease. It also includes
overall healthy cognitive functioning, resilience, and a state of well-being
where individuals feel able to fulfill their potential.
Digital & Technology
WHAT’S THE FUTURE OF GENERATIVE AI?
Generative AI has hit the ground running—so fast that it can feel hard to keep
up. Here’s a quick take pulled from our top articles and reports on the subject.
Strategy & Innovation
WHAT IS BUSINESS RISK?
An organization faces business risk when it is exposed to a situation that can
lead to decreased profits or even bankruptcy.
People & Organizational Performance
WHAT IS BURNOUT?
Burnout is the feeling of depletion, cynicism, and emotional distance that
results from a lack of impact or autonomy at work.
People & Organizational Performance
WHAT IS FINANCIAL INCLUSION?
Financial inclusion is when everyone can access financial services that can help
them build wealth, including savings, credit, loans, equity, and insurance.
People & Organizational Performance
WHAT IS THE GIG ECONOMY?
The gig economy refers to the workforce of people engaged in freelance and
side-hustle work.
Aerospace & Defense
WHAT IS SPACE JUNK?
Space junk refers to fragments left behind in space. Most space junk is debris
from rocket-launching material and disused satellites.
People & Organizational Performance
WHAT IS PSYCHOLOGICAL SAFETY?
Psychological safety is the absence of interpersonal fear. Feeling
psychologically safe allows people to perform their best at home, school, and
work.
Digital & Technology
WHAT IS DIGITAL-TWIN TECHNOLOGY?
A digital twin is a digital representation of a physical object, person, or
process, contextualized in a digital version of its environment. Digital twins
can help an organization simulate real situations and their outcomes, ultimately
allowing it to make better decisions.
Strategy & Innovation
WHAT IS A BOARD OF DIRECTORS?
A board of directors is a governance entity that oversees and supports
management on behalf of shareholders and other stakeholders to maximize value
creation.
Marketing & Consumer
WHAT IS E-COMMERCE?
E-commerce is the buying and selling of goods online. By optimizing e-commerce
as part of a broader digital commerce transformation, sellers stand to attract
more customers and earn more profits.
Digital & Technology
WHAT IS BIOENGINEERING?
Bioengineering is the application of engineering principles to improve disease
prevention and treatment, agricultural production, energy sustainability, and
more.
Strategy & Innovation
WHAT IS DIGITAL TRANSFORMATION?
Digital transformation is the rewiring of an organization, with the goal of
creating value by continuously deploying tech at scale.
Marketing & Consumer
WHAT IS SOCIAL MEDIA?
Social media comprises the applications and websites that allow people to
interact with other users, businesses, communities, and content.
Marketing & Consumer
WHAT IS PERSONALIZATION?
In marketing, personalization is when seller organizations use data to tailor
messages to specific users’ preferences.
People & Organizational Performance
WHAT IS TALENT MANAGEMENT?
Talent management includes all the ways that organizations bring employees on
board, keep them happy and productive, and help them continue to develop their
skills over time.
Digital & Technology
WHAT IS A SEMICONDUCTOR?
Semiconductors are the unsung heroes of the technology world: parts manufactured
from pure elements that work behind the scenes to power and connect everything
from smartphones to cars.
Strategy & Innovation
WHAT IS AN EFFECTIVE MEETING?
Effective meetings are all about purpose, preparation, and presentation.
Digital & Technology
WHAT IS QUANTUM COMPUTING?
Quantum computing is a new approach to calculation that uses principles of
fundamental physics to solve extremely complex problems very quickly.
Digital & Technology
WHAT IS AI?
Artificial intelligence is a machine’s ability to perform the cognitive
functions we usually associate with human minds.
Strategy & Innovation
WHAT IS BUSINESS TRANSFORMATION?
Business transformations are designed to boost overall performance through
increased revenue, lower operating costs, and better customer satisfaction and
workforce productivity.
Marketing & Consumer
WHAT IS INFLUENCER MARKETING?
Influencer marketing is a collaboration between popular social-media users and
brands to promote brands’ products or services.
Digital & Technology
WHAT IS CYBERSECURITY?
It’s what organizations do to protect their own and their customers’ data from
malicious attacks.
Strategy & Innovation
WHAT IS AGILE?
Agile is a way of working that seeks to harness the inevitability of change,
rather than resist it.
People & Organizational Performance
WHAT IS GEN Z?
Generation Z comprises people born between 1996 and 2010. This generation’s
identity has been shaped by the digital age, climate anxiety, a shifting
financial landscape, and COVID-19.
People & Organizational Performance
WHAT IS DECISION MAKING?
Decision making is simply the process of making a choice. But decision making
often isn’t easy and can be particularly complex in an organizational context.
Strategy & Innovation
WHAT IS DESIGN THINKING?
Design thinking is a systemic, intuitive, customer-focused problem-solving
approach that organizations can use to respond to rapidly changing environments
and to create maximum impact.
Macroeconomics
WHAT IS CENTRAL BANK DIGITAL CURRENCY (CBDC)?
CBDCs are digital currencies issued by central banks. Their value is linked to
the issuing country’s official currency.
Macroeconomics
WHAT IS PRODUCTIVITY?
Simply put, productivity measures the amount of value created for each hour that
is worked in a society.
Digital & Technology
WHAT IS AN EV?
EVs are vehicles powered by electricity and an electric motor rather than a
conventional gasoline-fueled internal-combustion engine.
People & Organizational Performance
WHAT IS THE FUTURE OF WORK?
It's an informed perspective about how work could shift and how workforces and
workplaces can prepare for those changes.
Digital & Technology
WHAT IS GENERATIVE AI?
Generative artificial intelligence (AI) describes algorithms (such as ChatGPT)
that can be used to create new content, including audio, code, images, text,
simulations, and videos.
Strategy & Innovation
WHAT IS RESILIENCE?
Resilience is the ability to not only recover quickly from a crisis but to
bounce back better—and even thrive.
Digital & Technology
WHAT IS PROOF OF STAKE?
Proof of stake (PoS) is a consensus protocol in blockchains. It is a way to
decide which user or users validate new blocks of transactions and earn a reward
for doing so correctly.
Digital & Technology
WHAT IS 5G?
5G is the fifth generation of wireless technology. Its increased speed, lower
latency, and improved reliability stand to revolutionize a wide variety of
industries.
Macroeconomics
WHAT IS A RECESSION?
A recession is the part of an economic cycle that involves an economic
contraction.
Digital & Technology
WHAT IS BLOCKCHAIN?
Blockchain is a secure database shared across a network of participants, where
up-to-date information is available to all participants at the same time.
Sustainability
WHAT IS NET ZERO?
Net zero is an ideal state where the amount of greenhouse gases (GHGs) released
into the earth’s atmosphere is balanced by the amount of GHGs removed.
Decarbonization efforts are needed to reach net zero.
Digital & Technology
WHAT IS EXASCALE COMPUTING?
Exascale is the next milestone in computing. It’s a higher level of computer
performance that will have unprecedented impact on society and the economy.
Macroeconomics
WHAT IS SUPPLY CHAIN?
The supply chain is the interconnected journey that raw materials, components,
and goods take before their assembly and sale to customers.
Strategy & Innovation
WHAT IS INNOVATION?
Innovation—in a business context—is the systematic practice of developing and
marketing breakthrough products and services for adoption by customers.
Marketing & Consumer
WHAT DOES CX MEAN?
It's everything an organization does to put customers first, managing their
journeys and serving their needs.
People & Organizational Performance
WHAT IS DIVERSITY, EQUITY AND INCLUSION?
It’s three values held by many organizations working to be mindful and
supportive of different groups of individuals.
Digital & Technology
WHAT IS INDUSTRY 4.0?
It's the next phase in manufacturing's digitization, driven by the rise of data,
connectivity, and other tech trends.
Marketing & Consumer
WHAT IS THE INTERNET OF THINGS (IOT)?
It describes objects and a variety of technologies that connect the digital and
physical worlds.
Marketing & Consumer
WHAT IS OMNICHANNEL MARKETING?
It's when you interact with your customers over whatever channels they prefer.
Sustainability
WHAT IS FOOD INSECURITY?
The term “food insecurity” refers to the economic and social conditions that
limit access to safe, nutritious food—and sufficient amounts of it. More than
two billion people worldwide experience food insecurity.
People & Organizational Performance
WHAT IS LEADERSHIP?
It's the behaviors used to help people align their collective direction, execute
strategic plans, and renew organizations.
Macroeconomics
WHAT IS ECONOMIC GROWTH?
It describes how much an entity, such as a country, is increasing and improving
the goods and services it produces.
Digital & Technology
WHAT IS CLOUD COMPUTING?
It’s the use of digital capabilities delivered via the internet for
organizations to operate, innovate, and serve customers.
Digital & Technology
WHAT IS THE METAVERSE?
These emerging digital spaces use virtual reality, augmented reality, and other
technologies to allow for lifelike experiences online.
Macroeconomics
WHAT IS INFLATION?
Inflation is the gradual loss of purchasing power, reflected in a broad rise in
prices for goods and services.
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