Succeeding Without Losing Your Soul (Part 4)

The following are the author’s remarks at the Financial Leader of the Year (FLY) awards dinner on October 4, 2017, sponsored by the McCracken Institute and Rollins College.  This is Part 4 of 4. 

To read Part 1, click here.

To read Part 2, click here.

To Read Part 3, click here.

But suppose you’re not a Millennial with the inclination to travel to Outer Mongolia to do business directly with goat herders. (I can tell you that’s not on my bucket list.) Suppose you work for a big company. Let’s say a global corporation… like Nestlé.

Nestlé is an $89 Billion food and beverage company. The company’s mission statement is “Good Food, Good Life.” If you’re an espresso drinker, you may be familiar with one of their products: Nespresso. Perhaps you’ve seen a TV ad that features these guys:

ClooneyDevito

Nespresso follows the old Gillette razor blade business model. Nestle doesn’t exactly give away Nespresso machines like Gillette gave away razors. However, selling coffee in little pods is a very profitable business for them. And, it enjoyed 30% annual growth in its first decade on the market. It’s fair to say that Nespresso expanded the market for premium coffee and, simultaneously created a huge problem for Nestle:

Where would they obtain a reliable source of coffee to feed the demand they had created?

The traditional playbook for procurement managers is to commoditize the supply and Continue reading “Succeeding Without Losing Your Soul (Part 4)”

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Succeeding Without Losing Your Soul (Part 3)

The following are the author’s remarks at the Financial Leader of the Year (FLY) awards dinner on October 4, 2017, sponsored by the McCracken Institute and Rollins College.  This is Part 3 of 4. 

To read Part 1, click here.

To read Part 2, click here

At its root, shared value recognizes that the competitiveness of a business relies upon thePPP health of the community surrounding it. Businesses need not only economically healthy customers to buy its goods and services but also a community that is willing and able to provide critical public assets like roads, schools, and police protection. The surrounding community needs businesses to provide jobs and wealth creation opportunities for its citizens.

In Michael Porter’s seminal work on this topic, he outlines three key ways that companies can create shared value Continue reading “Succeeding Without Losing Your Soul (Part 3)”

Succeeding Without Losing Your Soul (Part 1)

The following are the author’s remarks at the Financial Leader of the Year (FLY) awards dinner on October 4, 2017, sponsored by the McCracken Institute and Rollins College.  This is Part 1 of 4. 

Our prosperity is like oxygen.solarfield

Every moment, we breathe in and we breathe out. We never think about it. We simply take it for granted that each breath will allow us to keep living.

Yet, if we were to be deprived of it – oxygen, that is – oxygen would be all we could think about. We’d be gasping for our next breath.

Our prosperity is like that too. American prosperity, that is. We take it for granted. We expect that our infrastructure will support a healthy lifestyle, that our military and Continue reading “Succeeding Without Losing Your Soul (Part 1)”

What businesses can do about poverty

First published in Rochester’s daily newspaper, the Democrat & Chronicle, on September 5. Click here.

On the heels of the release of a landmark report on poverty by ACT Rochester and the Rochester Area Community Foundation, I wrote an essay for this paper titled ‘Just Tell Me What to Do About Poverty.’ In it, I expressed my frustration at, yet, another report decrying the depth and breadth of poverty in our community without offering a prescription for what we, as a community, can do about it.

As it turns out, the response to my complaint is right here in our own backyard. The Democrat & Chronicle’s Patti Singer reported last week on four companies that are actively addressing Rochester’s greatest challenge. The companies – TruForm Manufacturing, ENEROC, Genesee Brewery, and Green Visions – are piloting programs to hire and train less fortunate members of our community. Tyrone Reaves, owner of TruForm, has gone an extra step, founding and managing a non-profit to train people on both the job skills and the social skills to succeed in the workplace.

helpSolutions such as these address local challenges in the context of a global economy. The Wall Street Journal story on September’s monthly unemployment report outlined the Continue reading “What businesses can do about poverty”

Millennials: the next greatest generation

GGcandoitNeil Howe has a theory about generations. The founder and president of LifeCourse Associates has been studying them for most of his adult life. Each era of about 80 years has four generations that repeat themselves cyclically, according to Howe.

Baby-boomers are an ‘Idealist’ generation, much as their great-grandparents, the Missionary Generation, were at the beginning of the last era. They rebelled against Victorian values at the dawn of the industrial revolution. They fought for protections for women and children working in harsh factory conditions and for women’s suffrage. Boomers, for their part, fought for the end of the military draft and for civil rights.

Idealist generations are followed by ‘Reactives’. Generation X mirrors the Silent Generation. They are, by nature, rebellious and cynical.

In Howe’s model, Millennials would follow the same script as The Greatest Generation (as Tom Brokaw dubbed them in his wonderful, eponymous book). They are a ‘Civic’ Continue reading “Millennials: the next greatest generation”

If it were supposed to be fun, they wouldn’t call it work

hard-laborBusiness owners wear many hats. When they are just getting started, they are not only management but also labor. Their responsibilities are not just marketing, finance and customer service. They also include emptying the trash and cleaning the toilets. And, of course, they do everything in between. There is a huge spectrum between strategy and toilets that has to be covered.

If you are fortunate enough to be hired by a small business owner, with your freshly inked degree in hand, it is likely that your job will involve activities closer to the toilet end of the spectrum than the strategy end.

I’ve lived at both ends during my career and at just about every stop along the way. I am now at the stage of observer and coach (a nice place to be). Yet, I am also still a student.

So, here’s a semi-educated observation: the premise from which all job descriptions start is that we – human beings, that is – are, at our core, lazy. Adam Smith initially set out this Continue reading “If it were supposed to be fun, they wouldn’t call it work”

7 Stories to help you find the best place to work

BestWorkMy first job right out of the Navy was supervising a dozen young women in the back office at Citibank. Although I was still 20-something, I thought of them as kids – the oldest of them was about 22.

In the Navy, I was something of a supervisor too. Except the folks I supervised weren’t young women. They were young tough-guys. It was not uncommon for one of them to be cleaning his fingernails with a knife blade about 6” long while I was reprimanding them.

To say I didn’t know how to talk with the young women in my charge at Citi would not be a stretch. In fact, to say that they viewed me negatively would not be a stretch either.

It is said that company culture starts at the top. From the top of the ladder at Citi, I heard Continue reading “7 Stories to help you find the best place to work”