The Lead: Push for Global Tech Regulation, Supplement Makers Face FDA Scrutiny, Reddit Valued at $3 Billion

The Lead, AchieveForum’s weekly brief of leadership news and insights, provides quick clarity into relevant headlines and straight-forward analysis for applying effective leadership tools and techniques.

Push for Global Tech Regulation

Different countries are approaching technology regulation differently, but there is an increasing push for global standards. Google’s vice president of global public policy and government relations Karan Bhatia advocates for global rules for technology regulation. Senior vice president of global external and public affairs at AT&T Margaret Peterlin also recently voiced her opinion in favor of the “convergence” of laws for technology firms.

Our View: Global standards, whether in accountancy or technology, are important for the world economy. Economic development thrives when organizations adhere to global high quality standards that are backed by a solid regulatory, governance, and ethical framework. Some of the advantages of global standards include increased transparency and ease of comparison across borders and jurisdictions, removal of translation costs, and elimination of opportunities for regulatory arbitrage. Further Reading

Supplement Makers Face Increasing FDA Scrutiny

The $50-billion-a-year dietary supplements industry will face increasing oversight from the Food and Drug Administration. The FDA will be stricter about enforcing that dietary supplement makers are allowed to make “structure/function claims” on how a nutrient or dietary ingredient affects the body, but they aren’t permitted to say their products treat or cure specific diseases. (Such claims require that the product is regulated as a drug.) The FDA’s review of its regulations on new dietary ingredients will include an effort to make sure they are flexible enough to encourage innovation for product improvements.

Our View: Leaders in the public and private sectors have a responsibility to promote a safety culture that encompasses everything from processes to products to leadership at all levels. Leaders who integrate environmental, health, and safety management into their operations, and who empower employees to adopt a leadership mindset, reap the advantages of decreased incidence and injury rates among employees and increased financial and social rewards. Find the right tool to determine where your organization can improve. For example, the DuPont™ Bradley Curve™ is a leading quantitative indicator (used both inside and outside of DuPont) to measure and rank an organization’s relative safety culture strength. Further Reading

Related AchieveForum content: Leading in the Digital Age – Next Generation Leadership, Healthcare Resources

Reddit Valued at $3 Billion

The social news site Reddit is rarely boring, though it often breeds polarized discussions, and it is catching the interest of more than just its users. It is now valued at $3 billion after raising $300 million in series D funding which was led by China’s investment holding titan Tencent. The collaboration is a bit strange because Reddit is banned in China.

Our View: Intangibles such as the importance of leadership are critical in a company’s valuation. The intangibles of leadership can be broken down into four categories:

  • Maintaining Trust Clearly
  • Creating a compelling strategy
  • Aligning core competencies
  • Building organizational capabilities

Further Reading

Related AchieveForum content: Building Trust in the Digital Age; Accelerating Strategic Initiatives

Robotics Delivery Startup Gains Nearly $1 Billion

The self-driving startup Nuro recently received $940 million of investment from the SoftBank Vision Fund. Nuro has a team of 200 full-time employees and about 100 contractors, and it is currently focusing its business of self-driving vehicles on local deliveries, unlike other self-driving startups’ priorities of taxi services and long-distance trucking.

Our View: As automation pervades every aspect of society, leaders need to be prepared for a new era. Recent PwC research of global consumers showed that 25% of those surveyed thought that robotics would have a negative impact on society. However, 58% thought this impact would be positive, with greater positivity coming from BRIC countries. The report further explained, “as companies start to automate processes and/or introduce more artificial intelligence into white collar ‘thinking’ tasks (like knowledge management, analytics, business services and law) this new automated knowledge workforce will pose real problems for companies in terms of insuring against risk (for instance software crashes, cyber-attacks or systemic fragility) and protecting intellectual property.” Start re-skilling your workforce to adapt alongside robotics and automation. Further Reading

Related AchieveForum content: Leading in the Digital Age: Challenges and Solutions

Energy Boosters

The proper amount of diet, sleep, and exercise are major time-tested components of managing your energy levels. Performance nutritionist James Collins also recommends being strategic about your caffeine intake and incorporating time to reflect on your energy progress and goals weekly.

Our View: Managing your energy can help avoid leadership burnout, but it is still important to recognize the early signs. “Perhaps the most important thing a leader can do is to become aware of the signs of burnout, especially in terms of its onset and progression. By the time a leader notices and feels burned out, you can bet the burnout level is already acute. If a leader learns the signs of burnout and checks in with himself every month or so, he can catch it much earlier. That’s worth it, because the worse the burnout, the more it will take to reverse the damage and recover” said executive coach Nancy Scheel. Further Reading

Related AchieveForum content: Leading in the Digital Age – Leading for Resilience; Adapting to Constant Change

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