Strategy+Business – August 2019

http://www.strategy-business.com

strategy+business Published by PwC

strategyPwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see pwc.com/structure for f+business (ISSN 1083-706X) is published quarterly by certain member firms of the PwC network. © 2019 PwC. All rights reserved. PwC refers to the urther details. Mentions of

Strategy& refer to the global team of practical strategists that is integrated within the PwC network of firms. For more about S.pwc.com. No reproduction is permitted in whole or part without written permission of PwC. “strategy+business” is a trademark of PwC. Postmaster: Send changes trategy&, see strategyand

of address to strategy+business, P.O. Box 255, Congers, NY 10920. Canada Post Publications Mail Sales Agreement No. 1381237. CaP.O. Box 1632, Windsor, ON, N9A 7C9. Printed in the U.S.A. nadian Return Address:

PUBLISHING

Publisher and Business Manager

Gretchen Hall

Senior Marketing Manager

Charity Delich

Advertising DirectorJudith Russo

[email protected]

Business Operations Manager

Bevan Ruland

Circulation DirectorBeverly Chaloux

NPS Media Group

Production DirectorCatherine Fick

Publishing Experts Inc.

Scan this QR code to get the s+b iPad app.

Editorial and Business Offices

90 Park Avenue,New York, NY 10016

Tel: +1 212 551 6222info@strategy-

business.com

Design ServicesOpto Design Inc.

150 W. 28th Street, 704New York, NY 10001

Tel: +1 212 254 4470 [email protected]

Retail Comag

Customer Service Tel: +1 800 223 0860

Back Issues Tel: +1 703 787 8044

Permissions http://www.strategy-

business.com/press/permissions-faqs

SubscriberCustomer Services

Tel: +1 855 869 4862 Outside the U.S.,

+1 845 450 5210

[email protected]

http://www.strategy-business.com/

subscribe

strategy+businessP.O. Box 255

Congers, NY 10920

strategycontains only paper products +business magazine

that the Forest Stewardship Council™ certifies have

come from well-managed forests that contribute to

conservation and respon-sible management.

Articles published in strategy+business do not

necessarily represent the views of the member firms

of the PwC network. Reviews and mentions of publica-

tions, products, or services do not constitute endorse-

ment or recommendation for purchase.

Chairman, PricewaterhouseCoopers

International Ltd. Robert E. Moritz

Head of Global Markets and Services

Richard Oldfield

Global Chief Marketing Officer

William Cobourn

Global Marketing and Insights Leader

Ilona Steffen

Global Head of Strategy&,

PwC’s strategy consulting business

Joachim Rotering

Head of Strategy& for PwC US

DeAnne Aguirre

Public Communications Review

Ann-Denise GrechMary Valente

Natasha Andre

PwC

EDITORIAL

Editor-in-Chief Art Kleiner

International EditorJeremy Grant

Chief Copy EditorVictoria Beliveau

Art DirectorJohn Klotnia

Opto Design

Executive Editor Daniel Gross

Digital Strategy and Multimedia

Melanie Rodier

DesignersLaura Eitzen

Leigh JagareskiJennifer Thai

Managing Editor Elizabeth Johnson

Deputy Managing EditorSally Errico

Contributing Editors Cristina Ampil

Edward H. BakerDavid Clarke

Vanessa DesloiresElizabeth Doty

Ken FavaroBruce Feirstein

Lawrence M. Fisher

Senior Editor Laura W. Geller

Deputy Managing EditorMichael Guerriero

Jeff GariglianoAmy Gibbs

Ann GrahamSally Helgesen

David K. HurstJon Katzenbach

Theodore KinniDavid Lancefield

Senior EditorDeborah Unger

Associate EditorMichelle Gerdes

Tim LaseterPaul Leinwand

Eric J. McNultyGary L. Neilson

Rob Norton James O’Toole

Matt PalmquistJuliette Powell

Senior EditorAmy Emmert

Editorial Operations Manager

Natasha Andre

Jeffrey Rothfeder Michael Schrage

Jesse SostrinThomas A. Stewart

John Sviokla Chrisie Wendin