Category Archives: Companies

McDonald’s Opens Automated Test Restaurant

Companies, Technology, , ,

In today’s exciting world of advanced technology, we are constantly being introduced to new concepts and developments. As innovative thought is far-reaching into all fields, it is no surprise that the food industry is also coming out with progressive ideas and designs.

McDonald’s, one of the world’s most profitable franchises, has set off on a new endeavor. The fast-food chain has opened its first flagship automated restaurant aimed at eating on the go. The goal is to minimize the amount of human presence, and to use robots or machinery where possible.

At the new Texas location near Fort Worth, customers can either pre-order on the app or make their selections at a kiosk inside. While there are some staff members in the kitchen to prepare the meals, there is no need to employ workers to man the register or hand out the orders. A robot distributes the orders at the pick-up counter or drive-thru window. The physical restaurant is significantly smaller than most McDonald’s chains, as it is designed primarily for takeout orders.

According to franchisee Keith Vanecek, “The technology in this restaurant not only allows us to serve our customers in new, innovative ways, it gives our restaurant team the ability to concentrate more on order speed and accuracy, which makes the experience more enjoyable for everyone.”

While some have applauded the potential improvements to the ordering process, others have expressed concern about the number of layoffs that the shift to automated systems will inevitably cause. Only time will tell if this new system is efficient, and how it impacts the amount of manpower needed.

C-Suite Exits Reach Highs in 2022

Companies, Economy, , ,

As 2022 comes to a close, businesses are assessing their ups and downs. It is no secret that Fortune 500 companies have had a very difficult year. The result, though, is somewhat unexpected.

Many top executives are leaving their longtime positions. CEOs have made exits from huge corporations, such as Starbucks, FedEx, Disney, Kohl’s, AMC, Salesforce, and more. The bigger problem is what comes next. It’s become clear that many of these entities have never put a succession plan in place. And, with global markets on the verge of entering a recession, the timing for this unpreparedness is less than ideal.

There were reportedly 774 CEO exits between January and June 2022. This is the highest first half total in 20 years, since the Challenger, Gray, & Christmas outplacement firm started keeping track. By the third quarter of 2022, resignations slowed down, but there was another spike of high-profile exits just this month.

Without a succession plan, companies suddenly find themselves racing to find a replacement CEO. Conducting this type of search under such pressured terms usually doesn’t bode well. Investors are hit with a mixture of surprise and fear, and stocks prices can take a toll. When Salesforce’s co-CEO Bret Taylor resigned last week, share sales shot down.

So, what can be done? A popular solution that companies have implemented is reinstating familiar faces. Both Disney and Starbucks brought back their former CEOs, offering reassurance to shareholders.

The long-term remedy, however, is to plan ahead. Public company board members made their voices heard in a recent survey saying that CEO succession plans need to be improved. Investors are also becoming blatantly aware of the impacts, with a reported $1 trillion per year loss in the S&P 1,500 directly related to C-suite exits.

While companies are busy devising goals for the coming year, it will be interesting to see how many truly internalize this pattern and strategize accordingly.

The Shift in Black Friday

Brands, Companies, Consumerism, ,

In 2015, the retailer REI first announced that its stores would be closed on Black Friday. This was a dramatic message at the time, as the day after Thanksgiving is known to be the most popular shopping day of the year, with stores offering competitive sales. From then, the store continued in its path of shutting its doors on Black Friday, making the decision on a year-to-year basis. Now, however, the company has announced that every aspect of the business will be closed on Black Friday every year. This includes all 178 of its retail stores, its call centers, headquarters, and distribution locations – giving a paid vacation day to 16,000 employees.

In recent years, the excitement of Black Friday has been slowly waring off.  The younger generation is less willing to wake up at the crack of dawn and wait outside on line for hours to get a good deal. Additionally, many companies have extended their “Black Friday sale” to the days leading up to Thanksgiving, or the days after – leaving less pressure to shop specifically on that Friday.

Following REI, a new trend has been noted with retailers choosing to “Opt Outside.” The movement prioritizes spending the day outdoors, creating experiences, and basically doing anything other than shopping. The CEO of REI, Eric Artz, says: “Opt Outside has always been about prioritizing the experience of our employees, choosing the benefits of time outside over a day of consumption and sales. When we first introduced this movement, it was considered revolutionary for a retail brand, but we felt it was the right thing to do for our members and employees.”

While most retailers are still open for business on Black Friday, the change in thinking is revolutionary and sure to continue shifting trends in consumerism as the years go on.

American Airlines to Buy Supersonic Jets

Companies, Technology, Transportation Industry, ,

In a bold move, American Airlines has put down a deposit to purchase 20 supersonic jets from Boom Supersonic.

Boom is in the process of developing an aircraft called Overture, expected to be officially completed and released in 2025. Overture can travel at almost twice the speed of sound, and is designed to fit 65 to 80 passengers. While the company recently released a sophisticated version of the jet, Overture is still in the early development stages and has not yet run a test flight.

Overture, however, is not the first of its kind. The Concorde was a supersonic jet with routes across the Atlantic Ocean, primarily between London and New York City. In 2003, the ultra-speedy aircraft was forced to halt its services. With seat prices reaching a steep $10,000 per person, and deafening engines preventing the jet from flying over land, use of the Concorde was unsustainable. Although many have asserted that high-speed jets won’t make a comeback for these reasons, airlines seem confident enough in their return to be investing in them. Prior to the current American Airlines purchase, United Airlines had publicized its plans last year to buy up to 15 supersonic jets from Boom.

Despite previous economic failures of the aircrafts, the US government has shown support for bringing supersonic jets back and the FAA is devising new sets of code regarding noise levels over land. While Boom hopes its jets can begin running by 2029, the aircrafts and routes will need to be approved.

Although it is still unclear whether or not Overture will be approved for flying, the possibility is exciting. Many would love the opportunity to reach London from Miami in less than five hours, or to travel from Los Angeles to Honolulu in just three hours.

Only time will tell what the likelihood is for supersonic jets to fill the airspace…let alone the price tag!

Largest Four-Day Workweek Trial Underway

Companies, Lifestyle, Remote Work, ,

Recently, there has been a demand by employees to cut back on days in the office. After two years of the pandemic, people want to work from home, spend more time with loved ones, and just have more flexibility in general. While many companies have adopted the hybrid model to accommodate these sentiments, some have taken a more extreme stance.

For the past 8 weeks, the world’s largest four-day workweek trial has been running in England. About 3,300 employees from 73 different companies have taken on the task of producing 100% while working only 80%, still earning their regular salary. And while this endeavor does come with some inherent challenges, an overwhelming majority of participants are absolutely loving it.

The program is being spearheaded by the nonprofit “4 Day Week Global.” Andrew Barnes, the organization’s founder, has been advocating for a four-day workweek since 2017. In his own organization’s trial, he found that when working four days instead of the traditional five-day model, his employees demonstrated a productivity rate 25% higher than before.

During the initial stages, many companies struggled to set themselves up for the experiment. Samantha Losey, managing director at Unity public relations firm, called the first week “chaotic.” However, she explained, she and her team quickly instituted some systems that enabled continued productivity throughout the four-day workweek. All internal meetings are limited to 5 minutes, while client meetings end after 30 minutes. A “traffic light” system ensures workers are not interrupted unnecessarily – if a colleague’s desk light is set to green, they’re available for a chat; if the light is orange, they’re busy but available if needed; and if the light is red, they cannot be disturbed.

In addition to positive reports from employers, participating employees have given very favorable feedback. Many are appreciative of the extra time they can devote to other important things in their lives besides for work, such as family, mental health, exercise, and extracurricular activities.

It will be interesting to see continued outcomes from the big four-day workweek trial as time goes on. The results may have life-changing outcomes on work-life balance, company culture, employers, and employees.