Business Trends and Challenges 2024
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Questions and Answers

What is the concept referred to as 'workism'?

  • The balance between work and personal life
  • The tendency to overwork and neglect personal relationships
  • The idea that our personal life is the cornerstone of our work's purpose
  • The concept that our work is the cornerstone of our life's purpose (correct)
  • According to Arthur C. Brooks, what happens when we fall prey to professional self-objectification?

  • We tend to sacrifice our job for our friend and family relationships
  • We become indistinguishable from our work (correct)
  • We develop a better work-life balance
  • We tend to gain a sense of community and transcendence
  • What is the suggested practice to manage self-objectification?

  • Quit your job to achieve a better work-life balance
  • Sacrifice friend and family relationships for the job
  • Follow two practices suggested by Arthur C. Brooks (correct)
  • Set boundaries and prioritize work
  • What is a characteristic of someone who falls prey to professional self-objectification?

    <p>They tend to sacrifice friend and family relationships for their job</p> Signup and view all the answers

    Who coined the term 'workism'?

    <p>Derek Thompson</p> Signup and view all the answers

    What is predicted to happen with the idea of hybrid work?

    <p>It will expand from the rigid definition of 'being in-person at a company office two days a week'.</p> Signup and view all the answers

    Where are work-from-anywhere teams meeting in addition to downtown office buildings?

    <p>At company offsites, suburban locations, and trade conferences.</p> Signup and view all the answers

    How frequently do teams meet in-person according to Prithwiraj Choudhury's research?

    <p>A few days a month or once a quarter</p> Signup and view all the answers

    Why do companies need to make a concerted effort to help employees with caregiving responsibilities?

    <p>To retain talent in a tight labor market</p> Signup and view all the answers

    What is expected to severely limit the growth of the workforce in the US?

    <p>Demographic changes</p> Signup and view all the answers

    Study Notes

    • The global economy faces challenges due to war, climate change, trade issues, and infrastructure problems.
    • Businesses struggle to develop and meet diversity, equity, and inclusion goals.
    • Many companies are still finding a hybrid balance between in-person work and remote work.

    Workism

    • "Workism" is the idea that our work is the cornerstone of our life's purpose.
    • It can make our life and work indistinguishable, leading to professional self-objectification.
    • Signs of self-objectification include:
      • Identifying oneself with their job.
      • Sacrificing friend and family relationships for work.
      • Grieving the loss of a job as if it were a death in the family.
    • To manage self-objectification, one should set boundaries to ease workism.

    Hybrid Work

    • Hybrid work will continue to evolve beyond the traditional definition of "being in-person at a company office two days a week."
    • Teams are innovating on where to meet and when to meet, considering alternative spaces such as company offsites, suburban locations, and trade conferences.
    • Flexible forms of hybrid work, such as meeting in-person for a few days once a month or quarter, can help individuals work from anywhere and companies hire from anywhere.

    Caregiving Policies

    • The COVID-19 pandemic has increased the need for companies to revisit their caregiving policies.
    • Companies must make a concerted effort to help employees meet their caregiving responsibilities to retain talent.
    • Demographic changes will lead to a severe shortage of workers with the right skills, making caregiving policies crucial for employers' self-interest.

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    Description

    Explore the current global economic challenges, diversity goals, and work arrangements. Learn about the concept of 'Workism' and its impact on personal and professional life.

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