Leadership challenges, the Nobel Prize and 40 year old CEOs

Gone are the glamour days of being a CEO.  Leadership in the 21^st century is more complex, grueling and challenging than ever before.  Today’s leaders face unique challenges that require a unique approach. 

Authors Andrew Cave and Steve Tappin interviewed 100 global CEOs who collectively have over 1,000 years experience.  The general consensus was that leadership today is more challenging than it used to be.  The definition of business success has changed because a relentless pursuit of money is no longer socially acceptable.  It also takes a special type of leader who can create a global organization that is socially responsible, attractive to talented people, financially sound and technologically savvy.  It takes a rare personality who is able to balance the demands of leading an international business and also have time for family, friends and personal interests.  Few people have the self-confidence, ability and personality to overcome the formidable modern business challenges that lie before them.

With all that in mind, here is something interesting …

Researcher Benjamin F Jones, from Northwestern University, examined the 20^th century winners of Nobel prizes in the sciences, economics and technology.  He noticed that the average age at which recent winners have made contributions to their field has increased from age 23 in 1900 to age 31 in 1999.

This makes sense because reaching the highest levels is much harder that is used to be.  Prizewinners have to understand what has gone before them and need years of preparatory study before they can make a unique contribution.

Ironically, the age of CEOs is decreasing.  This doesn’t make sense, considering the unique wisdom, business savvy, courage and adaptability that are required to overcome daunting the challenges the CEOs outlined in their interviews.  Research by the leadership advisory firm, Heidrick and Struggles, has confirmed that the average age of FTSE100 CEOs is dropping to around age 40.  Are younger generations better equipped to deal with modern, global business issues?

A poem about the state of the world

hieroglyphic stairway
by Drew Dellinger

it’s 3:23 in the morning
and I’m awake
because my great great grandchildren
won’t let me sleep
my great great grandchildren
ask me in dreams
what did you do while the planet was plundered?
what did you do when the earth was unraveling?

surely you did something
when the seasons started failing?

as the mammals, reptiles, birds were all dying?

did you fill the streets with protest
when democracy was stolen?

what did you do
once
you
knew?

I’m riding home on the Colma train
I’ve got the voice of the milky way in my dreams

… Continue Reading

A great Generation X advert

Pepsi have an excellent understanding of the driving values of each generation and they have produced a number of great adverts over the past few years. We often use Pepsi in our marketing workshops as case studies. I recently came across this new Pepsi advert which has great Generational appeal…

George Bush, we will miss you… ?

Should I, shouldn’t I? I have debated myself for the last half hour. This blog is supposed to be about serious business issues, trends and the realities of the new world of work. But, hey, we’re also only human, and every now and again there’s a random post. Ignore this one if you want to, but I cannot resist, and so I will…

I will post this video of Jon Stewart’s “The Daily Show” taking some prize snippets from George W Bush’s last round of “intimate” news channel interviews. It’s legendary stuff.

If you can’t see the video, click here to go to the Daily Show website.

Fulfilling work should satisfy 6 core needs

Employees have 6 core needs. If companies give their employees the opportunity to fulfill these 6 needs, workers are more likely to be fulfilled at work.  It is in all leaders’ and companies’ best interest to take note of these needs because, the fact is, happy and fulfilled employees are generally more productive and efficient.

The 6 needs are: -

1. Certainty
2. Variety
3. Significance
4. Connection
5. Growth
6. Contribution. 

The table below explains how work can fulfill each of the 6 needs of employees and how Generation X and Y’s response to these needs differs to Baby Boomers.

SOURCE:

Tony Robbins in ‘Secrets of CEOs’ by Steve Tappin and Andrew Cave.

Tips from CEOs – How to survive the economic downturn

I have been reading an outstanding book called ‘The Secrets of CEOs’.  The authors, Steve Tappin and Andrew Cave, interviewed 150 top global CEOs who have over 1,000 years of leadership experience between them.

These CEOs believe that the economic downturn will last, at least, until the end of 2009. 

These were the CEO top recommendations on how to survive this trying time:

1.     Keep the balance sheet strong. 

• - Cash is king.
• - Focus on working capital management.

2.     Avoid surprises

• - Lay your cards out on the table from the very beginning.  Declare current and expected losses early.
• - Make sure people face the bad news
• - Get extra luggage overboard 

3.     Focus intensely on performance and talent

• - Talented people do not stop being high maintenance simply because there is a downturn.  Stop nurturing them at your peril. 

4.     Catch the tide

• - You need to act fast.  Be alert. 
• - Manage in real time
• - Develop short and effective communication lines. 

5.     Be bold

• - The downturn can bring great opportunity – low price mergers, low cost investments.
• - After the downturn, the early bird will get the worm.

‘A manager’s job is to manage in the good times and the bad times.  Great managers use difficult times to position for competitive advantage.’

 Archie Norman, former CEO of ASDA