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COVID-19: OUTMANEUVER UNCERTAINTY IN FUEL, CONVENIENCE RETAIL

Two main factors are accelerating disruption within the fuels and convenience retail industry, according to an Accenture report, "COVID-19: Outmaneuver Uncertainty in Fuel & Convenience Retail": the onset of COVID-19 driving a substantial decrease in demand, and an increase in oil supply, triggering a significant drop in oil prices. "Consumer habits are shifting from in-store to virtual purchases. New competitors are emerging. Store consolidation is squeezing margins. And with improved fuel efficiency, the advent of electric vehicles, and an increase in ride-sharing, demand for motor fuel has been on the decline," according to Accenture. "Fuel and convenience retailers will need to account for the additional overhead that comes with owning or operating a c-store in both the near-term and long-term. Ultimately, strategies need to be implemented to limit operational issues, keep employees and consumers safe, and position their businesses for the next wave of change." Click for report

The CEO Moment: Leadership for a New Era

The COVID-19 pandemic is a challenge for businesses and their CEOs: an abrupt dislocation of how employees work, how customers behave, how supply chains function, and even what constitutes business performance, according to the McKinsey & Co. report "The CEO Moment: Leadership for a New Era." Confronting the moment, CEOs have shifted how they lead. The changes have great potential beyond this crisis. The report explores four shifts in how CEOs are leading that are also better ways to lead a company: Unlocking bolder ("10x”) aspirations. Elevating their “to be” lists to the same levels as “to do” in their operating models. Fully embracing stakeholder capitalism. Harnessing the full power of their CEO peer networks. If these shifts become permanent, according to the report, they could hold the potential to recalibrate organizations and how they operate, companies' performance potentials, and their relationships to critical constituents. Click for report

Electric Vehicle Adoption: Focus on Charging

"Electric Vehicle Adoption" is a Fuels Institute report that evaluates the electric vehicle (EV) market from the consumer perspective, including total cost of ownership, recharging infrastructure requirements, anticipated consumer recharging behavior, and the relationship of EVs to competing technology in terms of consumer adoption. The EV market is developing and changing rapidly, evidenced by charging infrastructure deployment and the increasing number of EV models available. Although EVs are being positioned to comprise a significant share of the American light-duty vehicle market in the long-term future, near-term hurdles will temper large-scale EV growth, including battery prices, charging infrastructure and model availability, federal policy outlook, and consumer awareness levels. It is not a question of if but when these barriers will be addressed, according to the report. This report focuses on the demand for and the installation and operation of EV charging infrastructure. The report also presents detailed map-based charging infrastructure analyses and in-depth case studies on charging infrastructure deployment for diverse, representative metropolitan markets. Click for report

HOW TO EXUDE EXECUTIVE PRESENCE LIKE ANTHONY FAUCI

People gravitate toward leaders like Dr. Anthony Fauci* who exude executive presence, writes Joel Garfinkle for SmartBrief. Fauci commands authority, makes bold decisions, speaks candidly and drives toward solutions, even when things get difficult and frightening, Garfinkle writes. He explores the nuances of Fauci's executive presence so other leaders can elevate their executive presence. Fauci, according to Garfinkle: Radiates gravitas. Acts with authority. Establishes credibility. Communicates powerfully. Click for article *You can note how Fauci exudes executive presence during a free 30-minute live event from 3 to 3:30 p.m. EDT Thursday, July 2 on LinkedIn. Register here for "Dr. Anthony Fauci: What It Will Take to Defeat COVID-19," presented by the Harvard Business Review. 

6 Reasons Your Strategy Makes Your Company Ineffective

Most efforts to transform organizations will fail, writes Michael Beer, the Cahners-Rabb Professor of Business Administration, Emeritus, at Harvard Business School. "And, in most cases, these efforts will miss the mark not because the new strategy is flawed, but because the organization can’t carry it out," according to Beer's recent article on strategy. To survive the pandemic, Beer writes, leaders must examine six hidden barriers that make their companies ineffective: Unclear values and conflicting priorities Ineffective senior team Ineffective leadership styles Poor coordination Inadequate leadership development Inadequate vertical communication Click for article  

Innovation in a Crisis: Why it's More Critical Than Ever 

A McKinsey & Co. article asserts that the COVID-19 crisis presents an opportunity few feel equipped to pursue. Among surveyed executives across industries, only 21% said they have the expertise, resources and commitment to pursue new growth successfully.   Nearly 75% said changes brought about by the COVID-19 pandemic will be a big opportunity for growth, with variation across industries. Nevertheless, most leaders are focusing on current problems instead of the future. This decline in focus on innovation is evident across all industries surveyed except for pharmaceuticals and medical products, which show a nearly 30% increase in the immediate focus on innovation. Click for report

3 Critical Steps to Climb Out of the COVID-19 Crater

Economic leadership expert David Nour, in a Forbes article, writes, "In a recent conversation with a long-time friend and colleague, Mark Kaiser, we discussed what it would take to climb out of the current economic crater. "Mark, as a successful entrepreneur and CEO of high-growth businesses, has spent his entire business life focused on interpreting incomplete and imprecise data that were directional. In our experience, lack of immediacy in available and actionable data can often lead to invalid assumptions, reliance on outdated tools in uncharted waters, and poor decisions regarding the strategic path." Nour and Kaiser explain three steps they think will be critical for businesses. Click for article

6 Tips to Look Professional for Your Zoom Meeting 

As COVID-19 thrust professionals into a new digital era, many people turned to video meetings in place of school, work and conferences.  "And many of you are probably looking into the picture window at yourself and saying, 'Really? I look that bad?'" writes Jefferson Graham in a USA Today article.  Graham writes that it doesn't have to be that way. He checked in with Florida photographer Larry Becker, the author of a book called "Great on Camera" about how to improve our virtual appearance using professional broadcaster techniques.  "These days one of the biggest problems with us all having incredibly easy access to video recording and online sharing, which is a part of everyday life, is that people with zero training about being on camera, are making terrible mistakes they don’t even know about," Becker's website states. "They’re destroying their own credibility, and with just a few simple changes, they could really connect and their sales would be through the roof." Click for article

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