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To examine what to expect from Chair Gary Gensler’s SEC and the new Biden presidential administration following Chair Gensler’s U.S. Senate confirmation on April 14, 2021.

Reviews past SEC Chair Jay Clayton’s legacy and Chair Gensler’s prior regulatory actions and focus, and outlines Chair Gensler’s expected initiatives, including a heightened focus on cryptocurrency regulation, investigation of COVID-19-related fraud, and ESG and climate change disclosure.

This change will bring forth a Democratic majority at the SEC which, in turn, suggests that the Commission will change its current emphasis on capital formation to focus more on investor protection, rules required by the Dodd-Frank Act, inspections, examinations, and enforcement

Firms should examine their compliance programs in anticipation of heightened advocacy for investor protection; an increased focus on cryptocurrency and blockchain technology, as well as ESG disclosures with an emphasis on climate change; and an increase in inspections and examinations which will drive more enforcement in the fund industry, as well as increases in initiatives regarding transparency, additional disclosures, and investor protection. Organizations will also benefit by reexamining their existing compliance programs with the advice of counsel as a mechanism to mitigate the risk of potential securities laws violations.

Practical guidance from experienced securities enforcement and litigation lawyers.

This interview of C.K. Prahalad, one of the world's leading strategic thinkers, aims to offer corporate leaders a practical look at the radical concepts presented in his The New Age of Innovation (HBP, 2008), written with M.S. Krishnan. A lengthy review of the book is also in this issue.

The questions for this interview were researched by a team of Strategy & Leadership contributing editors. The interview was conducted by Robert J. Allio, a consultant who has previously been a senior executive at major US and Canadian corporations and a business school dean.

Prahalad believes that many businesses will undergo a transformation in the near future as value shifts from offering products to providing co‐created personalized experiences.

Because his new ideas explore the cutting‐edge of management innovation, managers will likely appreciate having Prahalad explain how his new model works. It posits that value will be determined by one customer co‐created experience at a time, defined as n=1; and to compete successfully in this environment, firms must access resources from multiple outside sources, either local or global, defined as R=G. In this interview he discusses the practical steps needed to ready a company to compete in this new business landscape.

To reduce costs, many banks have increased customer involvement during the creation and delivery of their products and services. Based on a job demands-resources (JD-R) model, this study tests an inverted U-shaped curvilinear relationship between perceived customer participation and employee work engagement. Customer orientation (CO) and service employee perceived fit with customers (PCF) moderate this relationship, which eventually affect both the internal and external benefits of service-employee work engagement.

The authors collected survey data from 518 service employees in the South Korean banking and insurance industries and analyzed the data using structural equation modeling (SEM).

The results indicate that perceived customer participation (PCP) has a significant inverted U-shape effect on work engagement. Results also suggest that CO and PCF have positive relationships with work engagement. In addition, they moderate the inverted U-shaped relationship between service employee PCP and work engagement, while work engagement positively affects organizational citizenship, job satisfaction and commitment.

The authors empirically identify a curvilinear effect of PCP on work engagement. In doing so, the authors introduce and operationalize the new construct: PCF and suggest PCF and CO as unique job resources for service employees. The authors also examine these constructs as predictors based on a motivational process and as moderators based on a strain (energetic) process.

From a managerial perspective, examining the curvilinear relationships of customer participation and work engagement suggests that front-line employees’ (FLEs’) PCP does not necessarily enhance the economic benefits of productivity gains by using customers as substitutes for portions of employee labor. Another finding with managerial relevance indicates that service employees, who have more CO and PCF, showed more tolerant attitudes toward unnecessary and excessive levels of customer participation and regarded it as a job resource.

This study explains that researchers must consider the positive and negative sides of customer participation simultaneously because frontline employee PCP can be changed depending on the level of participation provided by customers. This study also shows that CO can be assumed as a personal resource and PCF as an environmental resource in the work engagement process.

Homosexuality and bisexuality have existed since the beginning of life itself, yet such expressions have been repressed by many societies, from Plato's Greece to Shakespeare's England to America in the 1990s. Likewise, contraceptive devices have been in existence for over 3,200 years, but their availability has long been suppressed by religious groups and societies.