January 28, 2016

Bloomberg - Is American Olive Oil About to Have Its Moment? 5-15min

The company’s 2,200-acre orchard, an hour north of Sacramento, is an industrial marvel. The 1.3 million trees there are more like bushes, 6 to 10 feet tall and planted in neat, tight rows. The density lets a two-story mechanical harvester straddle the trees and strip away the olives to a conveyor that drops them into a truck, which delivers them to an on-site mill that can press 3,200 gallons of oil an hour. No olive is touched by hand. California Olive Ranch, a privately held company, estimates it accounted for 65 percent of the olive oil produced in the U.S. in 2015. ... Gregory Kelley, chief executive officer of California Olive Ranch, says it’s the mainstream sellers that need to defend the quality of their products. Europeans, he says, have long sold their dregs to unsophisticated Americans, like jug winemakers did in the 1970s. In a strategy said to be either self-defeating or brilliant, depending on who’s talking, Kelley often rails about what he calls the olive industry’s dirty secrets. He says much of the so-called extra-virgin oil sold in the U.S. is of unreliable provenance: adulterated with cheaper oils, processed with excessive heat that strips out healthful properties, or flawed by sloppy harvesting that can cause fermented or rancid-tasting oil.

McKinsey - Digital America: A tale of the haves and have-mores [Executive Summary] 5-15min

Digital capabilities, adoption, and usage are evolving at a supercharged pace. While most users scramble just to keep up with the relentless rate of innovation, the sectors, companies, and individuals on the digital frontier continue to push the boundaries of technology use—and to capture disproportionate gains as a result. ... The pronounced gap between the digital “haves” and “have-mores” is a major factor shaping competition at all levels of the economy. The companies leading the charge are winning the battle for market share and profit growth; some are reshaping entire industries to their own advantage. Workers with the most sophisticated digital skills are in such high demand that they command wages far above the national average. Meanwhile, there is a growing opportunity cost for the organizations and individuals that fall behind. ... provide a comprehensive picture of where and how companies are building digital assets, expanding digital usage, and creating a more digital workforce. ... also quantifies the considerable gap between the most digitized sectors and the rest of the economy over time and finds that despite a massive rush of adoption, most sectors have barely closed that gap over the past decade. ... Digitization is changing the dynamics in many industries. New markets are proliferating, value chains are breaking up, and profit pools are shifting. Businesses that rely too heavily on a single revenue stream or on playing an intermediary role in a given market are particularly vulnerable. In some markets, there is a winner-take-all effect. For companies, this is a wake-up call to use their digital transformation to reinvent every process with a fresh focus on the customer.

Canadian Business - The Last Days of Target 5-15min

The untold tale of Target Canada’s difficult birth, tough life and brutal death ... Fisher, 38 years old at the time, was regarded as a wunderkind who had quickly risen through the ranks at Target’s American command post in Minneapolis, from a lowly business analyst to leader of a team of 400 people across multiple divisions. Launching the Target brand in a new country was his biggest task to date. The news he received from his group that February afternoon should have been worrying, but if he was unnerved, Fisher didn’t let on. He listened patiently as two people in the room strongly expressed reticence about opening stores on the existing timetable. Their concern was that with severe supply chain problems and stores facing the prospect of patchy or empty shelves, Target would blow its first date with Canadian consumers. Still, neither one outright advocated that the company push back its plans. “Nobody wanted to be the one to say, ‘This is a disaster,’” says a former employee. But by highlighting the risks of opening now, the senior employees’ hope was that Fisher would tell his boss back in Minneapolis, Target CEO Gregg Steinhafel, that they needed more time. ... Nobody disagreed with the negative assessment—everyone was well aware of Target’s operational problems—but there was still a strong sense of optimism among the leaders, many of whom were U.S. expats. The mentality, according to one former employee, was, “If there’s any team in retail that can turn this thing around, it’s us.” ... Roughly two years from that date, Target Canada filed for creditor protection, marking the end of its first international foray and one of the most confounding sagas in Canadian corporate history. The debacle cost the parent company billions of dollars, sullied its reputation and put roughly 17,600 people out of work.

Oxford American - The Perfect Man 5-15min

Mitchell is probably the greatest arcade-video-game player of all time. When the Guinness Book of World Records first included a listing for video games in 1985 (discontinued in 1987), Mitchell held the records for Pac-Man, Ms. Pac-Man, Donkey Kong, Donkey Kong, Jr., Centipede, and Burger Time. In 1999, he achieved the Holy Grail of arcade gaming, executing the first-ever perfect game on Pac-Man. The feat requires navigating 256 boards, or levels, and eating every single possible pellet, fruit, and ghost, for the highest score of 3,333,360, all without dying once. ... Mitchell enjoys his semi-celebrity status, but he rarely shows it off by actually playing video games. When I convince him to play a game on the well-worn Ms. Pac-Man in the back corner of the restaurant, a waitress hurries over to watch because she has never seen him play, despite working there for nine years. ... He holds the joystick loosely with his left hand, maneuvering it with precise flicks of his thumb and index finger. “I use their personalities and put them in places, positions, and patterns advantageous to me.” ... “Absolute control. I’ve eliminated the mad, scattering chase. That’s probably how they intended the game to be played, running around out of control. But that’s not how I play.” ... Mitchell also seems to possess a genius for recognizing patterns in space and foreseeing the way complicated scenarios will play out—his intuition is set to some higher frequency.