Welcome back to JP's Top Global Reads
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Hi, my name is Jean-Pascal Duvieusart and I’m Chairman of the Board at Home Credit. Welcome back to my regular ‘JP Reads’ feature where I personally select articles, reports or interviews from global media – and books of course! – that have caught my interest.
As we move into the summer season, it’s likely you are thinking about holiday reading. For this edition of ‘Reads’ I have picked out a couple of must-read articles focused on stakeholder strategies and generative AI. But first, let’s kick off with a couple of fantastic books for your summer downtime.
The Psychology of Money – Morgan Housel – This is a relatively quick read, but it is crammed full of insights into the attitudes of successful people towards money. The author is a venture fund veteran and expert on behavioural finance. He has broken this book into 18 mini lessons, with actionable takeaways that will help you to re-assess your relationship with money.
The Gambler – Fyodor Dostoevsky – Dostoevsky reputedly had an addiction to roulette. So much so, that to pay off his debts he reportedly bet the publishing rights of all of his past and future works. It is this deep experience of addiction that feeds into this short novel. The blend of western characters, Russian intrigue and gambling exploits is all narrated by the book’s central figure, Alexei Ivanovich. It’s a timeless classic from a giant of world literature.
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HBR delves into the issue of stakeholder strategy. Many businesses understand the importance of serving all stakeholders and not just shareholders. Even free-markets champion Milton Friedman conceded that investing in communities and people has broader benefits. This article sets out three clear steps you can take to create that all-important stakeholder strategy. It just goes to show that a stakeholder-first approach can be good for people and the bottom line.
Not a day goes by, without a new AI story. Since the launch of generative AI platforms such as ChatGPT, we are seeing a rapid democratisation of the technology. However, for senior management, this is just the beginning. Experts at McKinsey have put together this crash course in AI for business leaders, so you can prime yourself with the facts. For all the excitement surrounding AI, there are multiple risk management questions that remain unanswered. Essential reading here for all business leaders.