# Executive Education at London Business School

Data: 11-01-2025 22:27:59

## Lista de Vídeos

1. [Next Generation Digital Strategy](https://www.youtube.com/watch?v=hM1UDGopE3I)
2. [NLLDUB experiential reel](https://www.youtube.com/watch?v=XEnLWSJ9JR8)
3. [HR Strategy in Transforming Organisations | Executive Education Programme](https://www.youtube.com/watch?v=vBPKDPtzrO4)
4. [Leading Businesses into the Future | Executive Education Programme](https://www.youtube.com/watch?v=-JYv3LEN6Ng)
5. [Strategic Investment Management | Executive Education Programme](https://www.youtube.com/watch?v=cA6zGctrwqg)
6. [Next-Level Leadership | Executive Education Programme](https://www.youtube.com/watch?v=MyqxFGqm-Mc)
7. [Leading Digital Transformation programme](https://www.youtube.com/watch?v=oQwiTc3k-2Y)
8. [How does data science allow executives to make better decisions l London Business School](https://www.youtube.com/watch?v=FdoUJSLWnig)
9. [How does data science allow executives to make better decisions l London Business School](https://www.youtube.com/watch?v=OOzhhe9_77A)
10. [Discover the ‘Out in Business’ Club (LGBT) | London Business School](https://www.youtube.com/watch?v=qRsMNy9oqlk)
11. [Executive MBA Dubai: “I was looking for a professional reboot” | LBS](https://www.youtube.com/watch?v=iFq5UjvU_Ps)
12. [Executive MBA London: “You notice the diversity as soon as you walk into class” | LBS](https://www.youtube.com/watch?v=3wq-Pr0WtVA)
13. [Executive MBA Dubai - Programme Experience | London Business School](https://www.youtube.com/watch?v=a_FjrQvrxlo)
14. [Masters in Finance: Career Support | London Business School](https://www.youtube.com/watch?v=cpenE89rNgk)
15. [MBA Global Business Experience | London Business School](https://www.youtube.com/watch?v=r7ZW6ebUWi4)
16. [HR Strategy Forum 2018 | London Business School](https://www.youtube.com/watch?v=i75qu9HFBKI)
17. [MBA: Career Support | London Business School](https://www.youtube.com/watch?v=7IOrvJZ9ymQ)
18. [Corporate Finance programmes l London Business School](https://www.youtube.com/watch?v=vuZfWhGRl6M)
19. [Executive Education Alumni Reunion highlights 2018 | London Business School](https://www.youtube.com/watch?v=QT0-FOVGpUk)
20. [ING Think Forward Leadership Experience | London Business School](https://www.youtube.com/watch?v=5UhVFM3Qe6U)
21. [Bupa's CEO Challenge - Global Business Consortium | London Business School](https://www.youtube.com/watch?v=zVkyTNZ9XI8)
22. [HR Strategy Forum 2017 Highlights | London Business School](https://www.youtube.com/watch?v=wa78fCk7KE4)
23. [How can I move into a new role? | London Business School](https://www.youtube.com/watch?v=ksLcAr1cz1s)
24. [Leading Change programme overview with Dan Cable | London Business School](https://www.youtube.com/watch?v=tqVY9HKFgWU)
25. [Don’t fear disruption | London Business School](https://www.youtube.com/watch?v=P_isGFE91Zc)
26. [3 ways to test the quality of a mergers and acquisitions strategy | London Business School](https://www.youtube.com/watch?v=eXaNFzcB5Ss)
27. [HR Strategy Forum 2018 | London Business School](https://www.youtube.com/watch?v=i75qu9HFBKI)
28. [Professor Tammy Erickson - Developing and leading your future workforce | LBS](https://www.youtube.com/watch?v=GA5HdcsVYoM)
29. [Michael Davies - Work Inc. 2028 | London Business School](https://www.youtube.com/watch?v=PqwGSy1AMrU)
30. [Professor Lynda Gratton - Lifelong learning – your competitive advantage | London Business School](https://www.youtube.com/watch?v=CwOF0A8zKsU)
31. [2017 LBS Live Highlights | London Business School](https://www.youtube.com/watch?v=hEFaZ0Nd-68)
32. [Professor Dan Cable – Alive at work | London Business School](https://www.youtube.com/watch?v=7yafvO2xMRs)
33. [Who cares about your strategy? | London Business School](https://www.youtube.com/watch?v=JyVMYT8IXaY)
34. [Data science and machine learning is a must for your organisation | LBS](https://www.youtube.com/watch?v=nppsHgfyYC0)
35. [Consider an underperforming company for acquisition success | LBS](https://www.youtube.com/watch?v=qOH1fTfskvI)
36. [The story behind the numbers and how to use them to your advantage | LBS](https://www.youtube.com/watch?v=3wN2kCTT6rw)
37. [Business lessons from private equity and corporate acquisitions | London Business School](https://www.youtube.com/watch?v=vOWxBetdjaE)
38. [Insights from faculty of the Executing Strategy for Results programme l London Business School](https://www.youtube.com/watch?v=EHlRKXDK1mk)
39. [Essentials of Leadership Programme: Lourdes’ impact story l London Business School](https://www.youtube.com/watch?v=gFdy2TWqT4I)
40. [Supply Chain Leadership: Programme Experience l London Business School](https://www.youtube.com/watch?v=9N7J8JIB3BM)
41. [Executive Education Alumni Reunion highlights 2017 | London Business School](https://www.youtube.com/watch?v=xphpGPphIRE)
42. [Executive Education: delivering impact since 1966 | London Business School](https://www.youtube.com/watch?v=KNPWbxV44Tk)
43. [Executive Education – Trailblazing through the decades | London Business School](https://www.youtube.com/watch?v=pDBrZ86vOzE)
44. [Microsoft and LBS’s “Public Sector Course”](https://www.youtube.com/watch?v=hjB5uD17xZo)
45. [Leading Teams for Emerging Leaders | London Business School](https://www.youtube.com/watch?v=uW7_C5ocaVQ)
46. [Professional Services: Programme Experience l London Business School](https://www.youtube.com/watch?v=RvAO3Tfe1Yc)
47. [Professional Services: Strategic Client Relationships | London Business School](https://www.youtube.com/watch?v=TWMLCVK9DAA)
48. [Strategic Investment Management: Programme Experience l London Business School](https://www.youtube.com/watch?v=pXLtN58aYgQ)
49. [Executive Education Faculty Legacy | London Business School](https://www.youtube.com/watch?v=wWDIsHnbEE4)
50. [Leadership coaching: Leading Businesses into the Future programme | London Business School](https://www.youtube.com/watch?v=OszqjfwUwms)
51. [[Private video]](https://www.youtube.com/watch?v=rHGwqj5vbuk)
52. [Professor Dan Cable - The emotions of competitive advantage | London Business School](https://www.youtube.com/watch?v=Thfm3pTtymQ)
53. [Professor Costas Markides - Preparing organisations for a journey of continuous transformation | LBS](https://www.youtube.com/watch?v=z9ulXAl6k5E)
54. [Professor Lynda Gratton - The future of work | London Business School](https://www.youtube.com/watch?v=6Z6L7iZlC9o)
55. [[Private video]](https://www.youtube.com/watch?v=wJ6YPzOrxbM)
56. [Nordea and LBS – Developing a pipeline of next-generation strategic leaders | London Business School](https://www.youtube.com/watch?v=UPNH1MKTt6U)
57. [Supply Chain Leadership Programme Overview London Business School 1](https://www.youtube.com/watch?v=QzuAettWf28)
58. [[Private video]](https://www.youtube.com/watch?v=onx6IgqaR90)
59. [Executive Education - Cristina Escallón, 'Taster' - How to understand and manage our brain | LBS](https://www.youtube.com/watch?v=N12ZEBEp_Co)
60. [Essentials of Leadership: Programme Experience l London Business School](https://www.youtube.com/watch?v=rPqw7SWQebw)
61. [Executive Education - Trailblazing since 1966 | London Business School](https://www.youtube.com/watch?v=16hanUPDvrc)
62. [Experience Executive Education at LBS](https://www.youtube.com/watch?v=ZApERWuAlaE)
63. [YNG+ London Business School programme – Tools for growing your business](https://www.youtube.com/watch?v=JjUpYhmIBrs)
64. [Executive Education Alumni Community | London Business School](https://www.youtube.com/watch?v=NE9WaXzqqqQ)
65. [The challenge of making it happen l London Business School](https://www.youtube.com/watch?v=bz-37FePEO8)
66. [[Private video]](https://www.youtube.com/watch?v=yc828a6j1NM)
67. [Making Innovation Happen: Programme Experience | London Business School](https://www.youtube.com/watch?v=nBMWiUtDEI4)
68. [Accelerated Development Programme: Programme Overview](https://www.youtube.com/watch?v=_3ggw5THzgA)
69. [Proteus Participant Experience l London Business School](https://www.youtube.com/watch?v=6OlVaJ7FcUs)
70. [Global Business Consortium 20th Anniversary | London Business School](https://www.youtube.com/watch?v=yUlhKriMIM0)
71. [Leading Teams for Emerging Leaders: Participant Experience l LBS](https://www.youtube.com/watch?v=zhVBLDUqGm8)
72. [Strategic Branding: Participant Experience | London Business School](https://www.youtube.com/watch?v=ooXV37u408A)
73. [[Private video]](https://www.youtube.com/watch?v=QF8EbYeP2Hk)
74. [[Private video]](https://www.youtube.com/watch?v=YXd7n76ZoWc)
75. [[Private video]](https://www.youtube.com/watch?v=PpKxKYvOZrA)
76. [Negotiating and Influencing Skills for Senior Managers: Programme Overview | LBS](https://www.youtube.com/watch?v=emi6sq0Y9Oc)
77. [Proteus Programme Overview | London Business School](https://www.youtube.com/watch?v=2itpZu-T5Ko)
78. [Strategic Branding: Programme Experience | London Business School](https://www.youtube.com/watch?v=dTmfFPTLX30)
79. [Negotiating and Influencing Skills for Senior Managers: Programme Experience | LBS](https://www.youtube.com/watch?v=iWz8NLPqg2o)
80. [Coaching on the Leading Change Programme l London Business School](https://www.youtube.com/watch?v=G2u8JS0Mivk)
81. [Making Innovation Happen: Programme Experience | London Business School](https://www.youtube.com/watch?v=33KWTsCoB3k)
82. [Accelerated Development Programme: Participant Experience l London Business School](https://www.youtube.com/watch?v=34-XoZ-xed0)
83. [Senior Executive Programme Experience l London Business School](https://www.youtube.com/watch?v=6AneCrc5LGY)
84. [Leading Businesses into the Future: Robin's Impact Story l London Business School](https://www.youtube.com/watch?v=qKCcE5l0DJU)
85. [Leading Businesses into the Future: Pedro's Impact Story l London Business School](https://www.youtube.com/watch?v=nfldd0IDKwI)
86. [Executing Strategy for Results: Programme Experience l London Business School](https://www.youtube.com/watch?v=PA-TjDDLmLc)
87. [Leading Businesses into the Future: Julie's Impact story l London Business School](https://www.youtube.com/watch?v=phwQFZs6A2M)
88. [Mergers and Acquisitions Programme Experience l London Business School](https://www.youtube.com/watch?v=YjibO94CR74)
89. [Developing Strategy for Value Creation Programme Experience l London Business School](https://www.youtube.com/watch?v=SXFKiHaSv4o)
90. [[Private video]](https://www.youtube.com/watch?v=qo4yFqKcozo)
91. [[Private video]](https://www.youtube.com/watch?v=aycEmFwPYCA)
92. [[Private video]](https://www.youtube.com/watch?v=iK8LJiI_HBg)
93. [Executive Education Programme: Leading Teams for Emerging Leaders | London](https://www.youtube.com/watch?v=XMnmNwCt4eA)
94. [[Private video]](https://www.youtube.com/watch?v=1IkqmqaORHc)
95. [Mergers & Acquisitions I London Business School](https://www.youtube.com/watch?v=3ZH3M6Yh2gQ)
96. [Leading Change Programme l London Business School](https://www.youtube.com/watch?v=y_UNkpdkJAk)
97. [Insights from the faculty of the Accelerated Development Programme l London Business School](https://www.youtube.com/watch?v=-R8qY0EUJrk)
98. [Insights from faculty of the Senior Executive Programme l London Business School](https://www.youtube.com/watch?v=fqO2wsE4qZg)
99. [Essentials of Leadership l London Business School](https://www.youtube.com/watch?v=WBLnJazNH94)
100. [Leading Businesses into the Future: Participant Experience | London Business School](https://www.youtube.com/watch?v=rW1C7tsvEdI)
101. [Executing Strategy for Results: Programme Experience | London Business School](https://www.youtube.com/watch?v=qyH10G1Aung)
102. [Leading businesses into the future | London Business School](https://www.youtube.com/watch?v=PgcrCLW0ib8)
103. [[Private video]](https://www.youtube.com/watch?v=f6Q2CrD2rik)

## Transcrições

### Next Generation Digital Strategy
URL: https://www.youtube.com/watch?v=hM1UDGopE3I

Idioma: en

[Music]
welcome to the Forefront of business
education where the future is being
[Music]
shaped here at London Business School we
are excited to introduce the Next
Generation digital strategy
program in a world driven by digital
transformation understanding the
landscape of digital unities isn't just
an advantage it's a
necessity this program empowers you to
confidently evaluate and seize these
opportunities forging paths in the
Realms of geni the metaverse web 3 and
Beyond everyone's facing similar issues
for his or her industry The Exchange
helps to develop Solutions together and
help each other out on how to implement
Tech in our
strategies Place yourself in the
decision-making seat andal izing Cutting
Edge case studies gaining insights from
leading experts across Industries I
really like the opportunity to learn how
an ecosystem can be built considering
partnership with organizations that used
to be competitors and this is something
I would really like to leverage and
bring back into my
organization develop a research-based
viewpoint on competition in a
digitalized world and learn what it
takes to lead an innovate in this new
paradigm whether you're aiming to make
strategic Investments Drive business
growth or steer your career with
foresight this program is your gateway
to becoming a Visionary leader for the
digital age I'm thinking right now on
digital and what is really the latest
changes in artificial intelligence
generative AI what do they really mean
for our business from a strategic
perspective not just a technology
perspective so to me it was really the
quality of the leaders and kind
Lighthouse thinking that comes from the
leading lecturers that London Business
School has access
to but it's not just about individual
success the Next Generation digital
strategy program is designed to propel
entire organizations forward prepare to
rethink how your organization competes
as Industries converge and
digitalize learn to harness the power of
digital platforms rethink Partnerships
integrate transformative Technologies
like blockchain and generative AI into
your strategic
blueprint and Beyond the curriculum the
journey includes unparalleled networking
opportunities with peers and leaders who
are as ambitious and Visionary as you
are we've had the whole world present
really we've had people from different
Industries Financial Services
Industrials government very very wide
ranging so it's amazing to have all
these different
perspectives engaged in meaningful
exchanges that extend beyond the
classroom into the vibrant heart of
London and exclusive offside locations
join us at London Business School where
today's boundaries are pushed by the
leaders of tomorrow are you ready to be
one of them explore the Next Generation
digital strategy program
[Music]

---

### NLLDUB experiential reel
URL: https://www.youtube.com/watch?v=XEnLWSJ9JR8

Idioma: en

[Music]
here in Dubai for the next level
leadership program which brings together
a blend of intentionally selected
learning components these include
Cutting Edge for leadership exponential
learning activities and coaching it was
amazing Z is the bar this course has
shed the light on the right spots that
we need it's not a conventional study
program it's a very interactive mode
experential learning activities focus on
coaching experiences that have a
practical application of Knowledge and
Skills to real world experiences in a
safe space I felt reassured when I kept
looking at everyone faces when they were
all welcoming and trying to push me to
execute the task my experience is
amazing I really enjoy it every day I
learned a lot it opened my eye to take
the role of a leader in my
organization

---

### HR Strategy in Transforming Organisations | Executive Education Programme
URL: https://www.youtube.com/watch?v=vBPKDPtzrO4

Idioma: en

[Music]
embrace the future of work with London
Business School as a senior executive
the hrst program helps you to redefine
how your organization approaches its
people agenda it's really given me
perspective on how to think about things
and Thinking Beyond just my my
day-to-day led by our renowned faculty
the program focuses on organizational
design the work environment and
strategic recruitment the program is
designed to improve your organizational
skills build your collaborative networks
and strengthen your voice in boardroom
conversations you'll achieve this
through group activities live
simulations and other practical learning
it's great to make so many new
connections with people for more than 20
countries uh from the from all over the
world you will engage in meaningful
conversations and gain valuable industry
insights from your peers during the
program you cannot get this from the
books you need to have you know that
experience in the classroom you need to
have the energy Beyond this you will
join the London Business School Network
providing further opportunities to
connect with
professionals join the London Business
School and return to your organization
with an actionable plan tailored to you
and let's shape the future of Human
Resources
[Music]
together

---

### Leading Businesses into the Future | Executive Education Programme
URL: https://www.youtube.com/watch?v=-JYv3LEN6Ng

Idioma: en

in this course what's been fascinating
the intersection of what is personal
leadership how can you lead people and
how can you lead change
businesses into the future is a program
designed for senior Executives who are
thinking about the type of competition
that they need to be able to excel at
going forward
[Music]
the program is built around what we call
the dice model we talk about the
importance of executive spending time
disrupting intriguing connecting and
engaging
for me and it was really interesting to
have something that went beyond the
traditional management it's really about
developing the individual skills and to
move the organization into the future
through the digital transformation that
we're currently involved in
[Music]
we have an organizational assessment
that is research based we ask you to
take that in advance so that you'll
understand where your organization
excels and where you can improve
understanding the key areas prior to the
workshop this week I think is really
important this makes the course quite
unique because actually having
scientific evidence in front of you to
go back and challenge is absolutely
fantastic diagnostic survey I found
interesting and I think what kind of
came out was we need to think a little
bit more innovatively and instead of
taking steps we need to take leaps
you actually have six hours of
one-on-one coaching as part of the
overall program we get to really learn
about their businesses and what the
challenges are for them
so this is why it's different it's very
much situated in the intersection
between themselves as leaders and the
organization and what's happening in the
organization my coach he's been terrific
and I think it was really understanding
of where do I want to take my
responsibilities next the coaching's
given me some real insights into things
that I should be focusing on to
implement as the first step when I go
back to the organization
you know networking with 35 colleagues
from around the world in all different
Industries was fantastic three words
that I
first and foremost spark engagement and
Intrigue we work hard to assemble a
terrific class of individuals who are
senior and who represent companies from
around the world I think to be able to
pause and to stop reflect on what's
happening in the business thinking of
new ways disrupting your own ideas to me
this has been the best thing

---

### Strategic Investment Management | Executive Education Programme
URL: https://www.youtube.com/watch?v=cA6zGctrwqg

Idioma: en

[Music]
foreign
program because I want to further refine
my understanding of virus investment
asset class and also to increase the
return of my portfolio in working in the
field of investment for quite a long
time I don't have a know-how of the
science that comes behind investment
management and that was the main reason
for me to join this program I signed up
because I wanted a good overview of
strategic Investments and you're in the
heart of London how could you say no to
that signed up to this program to
consolidate my knowledge and learn from
some prestigious and very knowledgeable
teachers
thank you
a wonderful thing about the program is
its progression it's like a top-down
approach so you have a view on overall
philosophy of investment management and
how things have changed over time some
of the sessions where route Asset
Management case studies equities gave us
overview of the global real estate Trend
I also did a quantitative analysis I
learned a lot about tsg investment and
investing in a changing world I love the
simulation session of the program it
kind of reminded me of Monopoly or risk
when you play these games but here there
was also a little bit of real life
pressure of news flashing in and then
you trying to figure out with all the
uncertainties like in real life so it
was a very good reflection on what you
really do at work when I go back to work
I will be most excited to apply the
simulation learning
[Music]
100 certainty that I truly enjoyed and I
learned the most from the other
participants it's such a multicultural
group
[Music]
I would use this to rewards to describe
this Strategic investment program a
unique engaging and stimulating with
three words I think quality diversity
and friendship that is very inspiring
it's very collaborative and it's very
informative my three word description of
this program eye opener networking
stimulating
I think that this is the best experience
I did in my life
thank you

---

### Next-Level Leadership | Executive Education Programme
URL: https://www.youtube.com/watch?v=MyqxFGqm-Mc

Idioma: en

[Music]
I decided to join the next level
leadership program because I wanted to
understand more about what it would take
to step up to the next level and move
into more strategic leadership position
within my company I really loved the
chance to understand more about my
strengths as well as my weaknesses and
how I could accelerate my strengths to
to make me a better leader in the future
the diversity of the group really
elevated the experience and gave us some
nice networking opportunities as well
and in fact some of us are still in
touch now to do some follow-up coaching
with each other I had a fantastic
experience in the coaching sessions on
the course something that was really
interesting was understanding how to
deeply listen and understand where
people are coming from and their
challenges and then ask the right
questions to guide them towards an
answer or a solution rather than telling
people how to feel or how to think one
aha moment for me that really kind of
unlocked the mindset shift was the
concept of what got you here won't get
you there and really realizing that as I
want to progress in my career are
different roles will require different
things from me so don't just keep doing
the same thing over and over again I
have a strategic framework for how to
approach challenges that come up on a
daily basis in the workplace whether
that's around adapting or leading
through change or around having
difficult conversations after the course
I've learned of how I interact and build
relationships with people I've learned
that it's okay to be vulnerable at work
and just show a little bit of your
softer side and that it's okay to be
open with generosity and honesty and
feedback coming back to work I
definitely have a greater appreciation
but also give guidance and add value
through it we learn about change and how
to make sure that it happens in the
future is to give people empowerment and
activate them to make changes themselves
and see it through I've found that by
giving them that sense of ownership it
gives them a better mandate to deliver
that change in the future and own it it
became really clear during the course
that we can make a really big difference
through day-to-day interactions by
dialing up our strengths as leaders in
the way that we deal with people the
program really helped me on the one hand
validate
um the importance of relationships with
stakeholders and peers and seniors in
terms of how impactful that really can
be to unlock Innovation and performance
ultimately in a business
and with my team it really helped me be
more mindful to live from the back and
Empower rather than lead by example
which is something that I traditionally
was doing maybe too much towards the end
of the course I really got the feeling
that London Business School were
creating a group of superheroes and
Future Leaders who could tap into those
superpowers to help make themselves and
the people around them better

---

### Leading Digital Transformation programme
URL: https://www.youtube.com/watch?v=oQwiTc3k-2Y

Idioma: en

digital transformation can pose
fundamental questions about the way in
which the capabilities of companies are
applied to be of value to customers the
product
and how they get paid the business model
and it can require Executives to make
big radical moves that would previously
have seemed Unthinkable this course is
all about helping companies to make
sense of and make the right choices as
we go through this period of
transformation towards greater
digitization towards the greater use of
digital services and products broadly
speaking we can identify two types of
companies in today's business World
you've got what we can call the born
digitals this is the Googles and the
Amazons and the Netflix's all the
companies that you read about on a
day-to-day basis these are companies
that essentially grew up in a world of
digitization and of course because of
that the way in which they work the way
in which they think about the products
and services they sell all of that is
geared around digitization and then
you've got the establish companies the
incumbents in every other sector of the
economy and this is everything from
Airlines to construction companies to
chemical companies to consumer product
companies the vast majority of the
business World actually is companies
which predate this digital Revolution
before computerization and digitization
was everywhere to a world in which
everything seems to be geared around
computer and digital technology the pace
of the digital shift is uneven uncertain
and often not something that incumbents
can manage or control the ability to run
the business as it is today
and maybe tomorrow is vital to leaders
navigating their way through a major
digital disruption the purpose of this
course is to give you a thorough
grounding as well as deep insights into
the world of digital technology and how
it applies in a business setting so that
you can make better decisions there are
three learning outcomes from this course
first of all you should have a much
better awareness of what is happening in
the business world today second we want
to give you the Big Ideas the concepts
the Frameworks to help you look at
things a little bit differently third we
are going to give you some practical
advice how do we make the big bets how
do we make the right decisions around
investing in some of these Technologies
and also on a much more micro level what
can we do differently on Monday morning
we want to give you practical ideas
about some of the the tools and the tips
and the techniques that you can use in
your day-to-day work with your immediate
colleagues
[Music]

---

### How does data science allow executives to make better decisions l London Business School
URL: https://www.youtube.com/watch?v=FdoUJSLWnig

Idioma: en

suppose you make decisions without using
data science how do you do this you can
use your intuition your experience and
trial in our well intuition may be
misleading and may be wrong
experience may not be applicable to new
challenges and trial and error can be
wasteful data science on the other hand
will complement the experience and
intuition of managers with evidence this
will enable managers to make more
precise decisions faster and communicate
their reasonings with others
you

---

### How does data science allow executives to make better decisions l London Business School
URL: https://www.youtube.com/watch?v=OOzhhe9_77A

Idioma: en

suppose you make decisions without using
data science how do you do this you can
use your intuition your experience and
trial in our well intuition may be
misleading and may be wrong
experience may not be applicable to new
challenges and trial and error can be
wasteful data science on the other hand
will complement the experience and
intuition of managers with evidence this
will enable managers to make more
precise decisions faster and communicate
their reasonings with others
you

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### Discover the ‘Out in Business’ Club (LGBT) | London Business School
URL: https://www.youtube.com/watch?v=qRsMNy9oqlk

Idioma: en

good afternoon everyone and welcome to
this London Business School webinar our
topic today is lgbtq+ life opiates and
so this is really addressed at people
who are either considering applying to
the school have already applied or a
generally interested my name is Peter
Johnson I'm the senior admissions
manager for the masters in finance and
in 1996 I was one of the founders of the
lgbtq+ Network and it's great to be able
to say that in 23 years since then the
group's really gone from strength to
strength and joined by two of my student
colleagues today and they're going to
really give you a flavour but before
that I thought a really good way to kick
off was with a quotation from Francois
or to Lemonnier who's the Dean of
business who's said to us and at lbs we
embrace the many dimensions of the
diversity of our community we aspire to
enable every individual to feel welcome
and be their best guided by the research
of our faculty and fueled by the energy
of our entire community we strive to be
an inspiring example of inclusion I'm
proud of the contribution of the out in
Business Club to shifting gear on
English so I hope that's a good kickoff
and with that I'm going to ask Allie and
to introduce everyone and thank you for
my name is Hana and I was the VP sort of
head of partnerships
so the brief overview of the agenda
today will be will start with their
autumn business club itself and look at
some general facts and figures at the
club
we will then run to look around
conference which really is our key event
of the year and you know real highlights
of the school year and then we'll move
on to look at LGBTQ life in London in
London sorry and then we will finish
with some questions and just to let you
know you can type questions in all the
way through the session and we'll answer
as many of them as we can at the end and
a couple of days after the event we will
send you a transcript of this whole
presentation which will include the Q&A
as well so club since its foundation
1996 has been growing in size steadily
every year in the year 2015-16 you can
see that we had 14 active members these
are LGBT members and then this year we
had 65 active members in the club now
these are LGBT people in the club we
have a massive good chat that includes
not only these active members but also
many many of the allies at the school
and will talk about this but such a big
network of people who are not on TBT but
so active in every one of our activities
many of them came together out this year
so it's been great to talk to partner
with them as well and hopefully this
focus growth will continue in the next
few years
so stepping back about the club itself
as Peter said and Peter and SIF said we
were founded in 1996 which makes out a
business one of the oldest LGBT clubs
for any top business school and I think
that's why the club is probably so big
and active today we have over 950 plus
members that includes alumni staff
faculty and students like SIF and I
across all different programs we also
have a number of corporate sponsors for
the club who support all of the activity
that we do and
recruiting our students throughout the
year this year we had over 25 sponsors
now in terms of the overall activity of
the mission of the club a really
centered around three things that's one
the professional development of our
members to community involvement and
three social events and I'm bringing
everyone together so in terms of
professional development we really
strive to serve as a networking resource
for our numbers we'll talk we'll talk a
little bit more about that in a minute
in terms of community involvement we
tried to promote greater social
interaction and just build empathy by
telling stories here on campus and
within LDS is broader community
including alumni I mean in terms of
social events well we'll get into more
of that but we try to keep it pretty fun
yes they're looking more in that with
the professional development this is
this is a business school and the cool
at the end will be to get a job that we
like and so there's many things around
the professional development that I want
to talk to you about the first one is
the student alumni mentoring which is in
some ways formal and informal and at the
beginning of the year and the kickoff
for the Business Club is really early in
the year it's such a great way to you
know John start your journey at RBS and
make meaningful connections from the
beginning and I met so many of my
closest friends and mentors at the
kickoff actually one of the really fun
fast events I had a table yes and
possibly I was very interested in
consulting opportunities and many
second-year students came up to me and
offering me too you know
so some hubs some guidance in terms of
how to go about the whole process and I
think we have involved invaluable
resources in in the club with current
members but also with alumni Jerrod is
obviously one of the biggest events to
meet the alumni they also have a lot
night drinks throughout the year and
they just love to come back and we have
such such a strong working relationship
with them as well then we have the
social impact week which which is great
because it gives us an opportunity to
look at what we can do for the broader
community in general this year we have a
really exciting event it's it will be
called obvious perspectives and we'll
look at the experiences some of our
members
come from countries that are not as
friendly in terms of an lgbtq+ rights
then we have the company visits which is
obviously major help in job search and
these companies they actually all come
to us and that's so eager to meet our
members and our current students so this
year for instance we had the ones I
attended where they want obtain BCG so
you got here to the office and it's a
great way to make connections in a
smaller environment but people are very
very happy to help you and it's a
positive networking and obviously
[Music]
because of the longer history of the
club we have such the club itself has
such deep relationships with a lot of
these companies consulting tech
financial that they actually come to us
year after year so they approached us
usually at the beginning of the year I'm
asking to do events and between their
LGBT groups hosting our our students at
their offices exactly and the last point
is LGBT QQ f as now who does want to go
out and we will dig into that later but
there's also many many many career fairs
in London designed specifically for
lgbtq+ students talents and you know we
just get something not email and me
obviously so there's a lot of
opportunities depending on what what you
want to do later in life so in terms of
some of the activity that we do on
campus we have a lot of stuff that we do
at just within our club but we also try
to again engage the broader community so
right from the very like the probably
one of the first events of the of the
year at lbs is coming out day and it's
an early September and students from our
club that includes LGBT students and
allies get up in their classes and they
share stories of why they're involved in
the club of course it's not it's all
voluntary but it's a way of again kind
of building empathy and and letting
their classmates know who they are and a
little bit about them as well as what
LGBT rights look like around the world
they pass out stickers that you see
there these ally stickers and every
single student winds up putting them on
there and their name tag so when you
look around in a class throughout the
year you'll see that the person's name
and that
they're an LGBT allies yeah we actually
run out of stickers because people
wanted them so much but yeah and also
just a quick word on my past experience
was coming out day so I come from France
which is quite a finally right but even
for me it was quite you know quite a big
thing to do to speak out in front of
hundreds of people in the class well
actually was probably about eighteen
still quite a few people and actually
the response to what I said was so
overwhelmingly positive and everyone was
coming up to me and asking me questions
and it was a great way to engage and
already talked about my personal story
which is you know good interesting but
that's mood to it it's how can we with
these allies and with the border
community you know well can enhance and
just have a happier and better world so
it was really really a meaningful and
special day but not all of our events
are so emotional so we have there's a
big party on campus called tattoo I
think it's one of the biggest parties of
the year and that involves every single
club
it's the Israel club or the Japan club
or the North American club coming
together and putting on dances and doing
holding performances and bringing their
native food so for some reason for us
that's rainbow jello shots so the out in
business club is always the most popular
booth at tattoo we generally have over a
thousand jello shots from across the
rainbow and it's always the best time
and of course we also have our what we
believe is really the best party of the
year which is the white party it's where
almost all the students come out of
usually at 500 plus attendees we bring
them to a huge gay club in London and we
have all of the different all of the
really big clubs putting on dances and
lips
I know you just got cut off um so again
the white party it's really the biggest
the biggest party of the year we have
everyone from the men's rugby club to
the women's football team to the
military Club coming planning out
performances and lip sync and lip syncs
and competing in a huge competition
that's judged by some faculty it's an
awesome time and I went this year with
my husband and we realized we hadn't
been to heaven so we also do if for most
of you if any of you don't know this
there's a conference in the u.s. called
the rambha Conference I'm reaching out
MBA it's a huge LGBT conference we
always send a delegation of students
there and we subsidize tickets this year
I think we had somewhere between like
five and ten kids going to network for
the weekend
we also hold a little different events
throughout the year in partnership with
other clubs in particular partner a lot
with the woman in business club so these
last two years we've held an equality of
all of them I'm benefiting UN Women it's
a black-tie event that we hold it a
really nice members club I'm here in
London and we're about to celebrate
Valentine's event we'll be going to one
of our executive committee members
houses to fill little Valentine's gifts
with candy and chocolates for all the
students on campus with cool and then
there's regular social activities we
have you know as you will be going to
one of our executive committee's members
houses but there's plenty of last formal
events that we organized in different
bars and clubs around London and so one
of the actually want to really in new
events that we had this year was we
decided to do a retreat which happened
quite early on in the year and it wasn't
right and so this was great for two
reasons the first one is that it was
quite early on so it was a great
opportunity to meet
a lot of members in the club that week
we didn't have the chance to meet but
also make more than just small talk and
have a long conversation conversations
in the house that we rented in Brighton
and so the second reason is right in
itself is one of and you know it's I
think they like to say that that the
LGBTQ capital of the UK and it was it
was a great time so let's see what we
have in store for next year in terms of
the retreat and those regular club
nights as well in any many clubs in
London and in general I have to say the
support from the school is really
incredible joining out in business at
London Business School was my first time
ever being part of any kind of LGBT
group and the reason that I joined is
because from the very GetGo I found that
they were one of the most active clubs
on campus but also just incredibly
supported across the school I remember
looking around the in my classes at
orientation and realizing that we had so
many very senior faculty members and
teachers who were proudly out which was
incredible to see so we have support
from the faculty we actually just had
drinks with staff faculty and
administrators together with their
students a couple weeks ago we have
support from the student activities team
who gives us some even financial support
but also a staff support on a lot of our
different events including the big
conference that we do you're out we have
support from the Career Centre who helps
us organize some of those like company
recruiting that we do and we have and we
also have a school support scholarship
they're reaching out NBA or rambha LGBT
fellowship which is a $20,000 award
given every year to lead the way for
equality and business education so our
year out conference we've been talking a
lot about it and you're out is the the
largest LGBT Business School conference
in Europe and I actually think the
largest LGBT business conference in
Europe and we we have over 500 people
who attend the event so it's almost all
of our students
BTW identifying students but also a
number of allies but also kids who come
from around the world we have
delegations of students who come from
most of the top schools in the US and
around Europe and we also have a number
of people from London who attend
including especially our alumni and who
helped to sponsor the event yeah and we
have amazing speakers every year who
come now in the past we've had for
instance prime minister of Luxembourg
exactly Battelle we've had many many
other amazing men and women so this year
we had Shannon Brady who is the equality
campaign director of the Australia
marriage equality campaign and then was
also the executive the political sorry
political director of the yes party
campaign in Ireland which led to the
adoption of same-sex marriage laws in
both countries we had people there from
the shows we had Laura holy man from
Goldman Sachs in Gambia who is one of
our keynotes the former CEO of Lloyds of
London we had many many other people and
interestingly in the past
yotz because we were very focused on
business and this year we had many
activists even from we had Lanka we had
some from many many countries around
from the Wonderworld and so we had a
much more global approach and a much
more activist approach to the conference
well especially on the second date I
think you didn't have things were
talking about women's representation
absolutely yeah because that was really
phenomenal totally yeah we did a big
push this year I'm to include more women
in terms of the agenda and also up the
number of female participants in the
conference and so we had a record number
of females who attended was there almost
35 percent and we had 5050 and people
who identified as female and people
identified as male speaking on the
speaking of the agenda and as
previously manager we had 400 plus
students from essentially all the
leading business schools in the world
obviously a lot of them came from a yes
but some of them came from Colombia HBS
what INSEAD many people from INSEAD so
we sadly in in Spain and others that are
not even mentioned on this slide and so
it was an amazing opportunity to meet
other communities LGBTQ and allies from
different schools around the world and
and build connections with them as well
we also have a number of companies who
exclusively sponsor you're out this year
over 50 I'm sponsoring the event and
that included our lead sponsor BCG as
well as companies like Salesforce and
Google Bain Kinsey KKR uber and Amazon
and many more most of these sponsors
come I'm so they're there to really
actively recruit they're not just there
from like a branding exercise
perspective under there really because
they want to be hiring on these students
whether for summer internships our first
full-time let's look at the fun on
lgbtq+
life in London but the secret to no one
the London is one the best cities to
experience lgbtq+ life now there's usual
suspects like heaven which is one of the
biggest lgbtq+ Club in London but
there's many many bars in Soho you'll
find a lot of rainbow flags there and
it's just an amazing place to be and you
can you really feel that you can be
yourself which you know it's hard to
stay in in many places in the world but
this is one of the few areas a few
places where whatever you want to do you
can do and people in general always will
not judge so you feel very free and and
you feel that atmosphere that welcoming
atmosphere from the moment you arrive in
London can I just say the ballet slide
is Matthew Baba's production Swan Lake
that I went to see at Sadler's Wells
which is a major Darwin space
of dance performance and it was first on
the laughing twenty and it was just
amazing so I think he's certainly
there's certainly that power scene but
very much a kind of much broader culture
and again I've been able to attend many
many events that are not you know linked
so obviously there's many organizations
like our leadership out to business that
regularly organize events and you know a
couple of us will go every time and its
really free up to depending on you know
what you will you schedule but there's
always something happening okay so that
I hope gives you a good overview the
club and our activities and just to
remind you to keep on typing in your
questions we've got a few here already
and first one up is another peter who's
taking part today he's asking what
opportunities are there for club member
to involve his or her partner in social
careers activity we Peter we actually
have a partner chair for the club who a
guy who's probably even more active than
his 2019 and the partners are welcome at
all of the events that we do I brought
my fiance over from New York when I came
here I mean oh she was very concerned
about I'm coming to LVS and that I would
you know be suddenly involved in this
huge in a social life that didn't
include her but she always felt like
she's always felt like she had a family
I'm an out in business and that's
probably one of the reasons that we both
really gravitated towards the club she
whether it was coming to for example
you're out conference and and recruiting
and networking for herself or coming to
the the parties and cocktails pre games
whatever that we that we do as a club
and you my partner joins for almost
everything and our partner chair a guy
named David and is really helpful in
bringing and helping
organize events and also make sure that
other partners always feel welcome -
yeah great um
so another question and what
opportunities are there for students to
network with LGBTQ professionals okay
throw that to sifrin yeah we already
touched upon that point again in the
slides but does unless opportunities
it's really pending on your personal
will to you know to go out there and
under them to meet these people in
different events but within obvious as
mentioned as well there's many
opportunities to network with LGBTQ
professionals you're out is obviously
probably the biggest moment but you will
have an enormous pool of people but
again you can just reach out to a former
members of out in business on LinkedIn
or or anywhere else that drinks the that
we organize and it's so easy and
everyone is really happy to have so to
be honest the upper tiers are really
unless and it depends on on everyone's
will to go out there and just take
advantage of that there's a question on
how the school supports the community on
campus and I'm just gonna pick up on
that quickly and as I said in the
introduction and I mean the guys have
covered this a bit during the
presentation but I was one of the people
who initially set up the group in 1996
and that was I found that the school had
always been a very supportive and always
been comfortably out gay but it was just
our sense that it needed something a bit
more focus and a bit more organized
really to sort of make manifest and the
LGBT presence in the school we kind of
mobilized some that support and I think
what we discovered along the way was an
critically there were a number of openly
gay faculty members and also openly gay
Ciara minute
members the administration and just that
presence I think made the activities of
the network so much easy to mobilize and
I'm very conscious as one of the senior
admissions managers just how much we can
reach out to colleagues whether they're
opt Q or and I think a really good
example of that I mean for any of you
who dialed him later when you get the
transcript for this I gave a quotation
from Rd and we asked him for his support
and it was given with such enthusiasm
because one of our major current
initiatives as the school is shifting
the gear on inclusion and clearly LGBTQ
performs really large parts of that but
at the end of the first day of year out
francois spoke and those speeches can be
a bit formulaic those kind of support
speeches and I was very very moved by
his because I've heard it's a completely
calm and really very very genuine so
it's great to know that you know we've
got support right from the very top
you're out actually so you're out as a I
said as a two-day conference and and
Francois R Dean spoke and closed the
conference on the first day on the
Friday and after we have a board for our
year out conference made up of alumni of
the business club and after we did a
cocktail reception with our board and
that was sponsored by the Dean and he
came and he spoke to our alumni and our
the students who'd been organizing the
conference and so he wound up spending I
think like almost like more than half a
day at the Europe conference and other
some of the other clubs on campus like
business club for example said to me how
did you guys possibly get an you know a
full half day because we are happy
because we've asked to but that's it's
really just testament
to the to the strong support of the
school and I also say that I know you
know again I full credit to you Peter
but that the long history of the club I
think I just created this environment of
that really feels you know we're not
just paying lip service to this it
really feels inclusive here so I came
from New York I was very lucky to come
from New York I'm a place that's pretty
progressive on LGBT rights but I wasn't
out to a lot of people at my work and I
was not out to a lot of people that I
was close to when I was living there and
but coming to campus it was really the
first time that I was fully out to my
entire community I myself like stood up
in my class I'm coming out we got
volunteered to stand up and just tell my
own coming-out story and it was and I
felt exactly like you it was just
incredible I wanted like crying my whole
class came down and hugged me the
teacher was my finance teacher who's
helping me I mean it's just such an
incredible community here and the
support is really experienced I would
just also add one thing it's that it's
also very very welcoming to people who
do not feel ready to be out yet and
there's many people in our club who are
actually some of them officers and they
don't feel comfortable being out to the
whole community yes and often it's
because they come from countries or even
families that are not as welcoming but
you know regardless of when you when you
choose you want to be fully out or still
you know be is still a little bit more
yeah this is space food whatever you
want whoever you are it's really
important to stress that is that people
can do things at their own speed we're
not forcing any how do people find their
own levels of comfort all the way
through the program particularly as
things progress and I think it is quite
obvious that things like your art that
that gives people an impetus to maybe
take the next step and maybe that maybe
the next step with friends
I've got a question here from mark from
Singapore so have there been any
challenge you challenges you've been
faced with being out and go through job
search so in the recruitment States or
has they've mostly been a positive
experience and this is quite a fraud
question yeah that certainly came out
Europe this year and the previous first
it's a really good question mark so I
almost say that I I've been focused
mostly on the kind of between like the
tech and the finance sort of the FinTech
space since I've been here I have only
had a positive experience
actually the three internships now that
I've had have all come from either
alumni or connections through the club
um and I think I would say probably the
majority of the people in our club are
going to and mine you're going to work
full-time or interning for the summer at
some of those sponsors that we have for
year out who again are really actively
recruiting LGBTQ and that being said I
know we have for example someone in our
club who is recruiting for private
equity and and in her in that space I
think has had some challenges I'm
especially looking at some of the
boutique firms and the way that and the
way that they've navigated that is by is
actually talking to one of the bigger
private equity firms that sponsored your
out getting advice from them about the
best way forward about interviewing and
when to come out so I think you know
it's still it's still a fine line to
walk in general and it's particularly
difficult in some sectors but you have a
club of people I know actually she also
I know reached out to some alumni who
are in private equity asking them for
advice too so the the broader community
about in business both current students
and those who have already graduated is
really incredibly helpful and supportive
I'm in that process of finding a you can
feel comfortable
and to be however out you want to be at
work yeah I'm so it's a sort of slightly
related question and what is it like to
be out at lbs especially as many
students come from parts of the world
where being gay is illegal
I think it's Ali who is that you find a
family here and I think I'm the
welcoming we've been saying it a lot but
it's really what it feels like
as about 2,000 people to roll in campus
the many programs are you know
coexisting we there's such a big range
of Ages of nationalities and obviously
there will be people who come from areas
where being gay is illegal I think one
example which is pretty interesting is
the timing of our coming-out week was
was really perfect because it came just
after India decriminalized
same-sex basically saying these
relationships and many many Indian
students came up to me and and they you
know we talked about this and and I
think the you know the dimension as well
that it's not because a country on paper
is LGBT unfriendly that that everyone in
the country is and I think everyone
obvious she has some traits and one of
them is being very open-minded
now I've personally haven't had any
experience with anyone who's you know in
negative or anything and I tend to be
quite vocal about the activities of the
club and talk about your outer life
especially the whole semester so so
actually it's really amazing and I think
in fact there's a lot to be there's a
lot you can learn about LGBT communities
in countries where it's not legal for
instance Singapore so in general it's
very good again it's like the job search
you probably have exceptions
I just didn't jump into another question
that's come in that again is somewhat
related and this is how much should I
out myself in the application doing so
and I'm going to answer that in general
and talk about a very specific instance
reason and I would say I work alongside
people working on and I'm totally
conscious that I work with very
supportive very comfortable but totally
committed to building a very diverse
very inclusive community here I would
say be as out in the application form as
your personal income you will notice
that we do specifically ask the question
of whether you want to be in contact
with the out of business group and
that's specifically so that we can
invite you to webinars and events like
this it's not necessarily making a
statement about go sexuality you may be
identifying as an ally and interested at
that level but there's quite a lot of
other instances you know we ask you to
talk about your community involvement
what you do in your spare time there's
really space within the application for
me to talk about maybe about your
partner how they're responding to the
possibility the potential that we'll be
studying at appeals so all of those kind
of touch points if we call you for
interview be is out as your comment but
that being said be aware that if we call
you the breeds of you we aren't going to
be sharing your application form your
exits with the alarm
we'll be interviewing and if you're
working out if you place somewhere where
culturally you might find
difficult it might be that you're
working in the finance sector somewhere
where it's very small very tight mins
and you're not comfortable with detail
you know facts about your sexuality to
be known to people outside just the OBS
Commission students if that's the case
that's absolutely fine I would say there
in that instance and how we resulted in
that case we're saying leave that
information out of the application but
be totally comfortable with emailing it
kind of offline to somebody in the
admissions teams so it's there in front
of the people you need to know it but
it's not being exposed to people so make
those two guys okay okay beyond verb
would like to be heavily involved in the
out in business very much so how many
offices does the club and and how do
people go about becoming the in terms of
how people go about actually becoming a
member we do believe an election process
so our presidents are elected sorry I
was just saying if we go back one what
you're seeing on the screen now is our
email link so if you want to leave that
up for company yes that's just yes sorry
so we in terms of how people are
selected for the club we have an
election and a spring of every year of
kids who are doing the two year program
and that's to become the president for
the following year and for all new
students we have elections happen
Kember students right a platform and
they are selected interviewed and then
selected by the current presidents so
the kinds of positions that we have like
we have a position like 6 that's the
partnership chair a lot of the the work
particularly in the fall for the club
it's around is is all around year out
the planning and an execution of the
conference as well as some of those
recruiting events and of course some
socials but and the spring semester is
really almost completely socials focused
I'm doing creating events like within
the club and all the partner events that
we do across the school great um so how
welcoming nonet LGBT people are out in
business events you've touched on this
quite a lot Birds perhaps go back there
very welcome we have I would say
probably at most of the events we do for
example we talked earlier about coming
out week where we had students giving
out the stickers and standing up and
telling our stories at the end of that
week we do a big event at at a gay club
this this is different than the white
party and it's just it's a much more
casual event but we've had this year
probably a hundred and fifty students
come out I would say only like 40 of us
were LGBT plus so the Alli community is
really active we have a dish to having
addition to all of those positions on
the executive committee we also have an
ally chair and who this year is
represented by a student who is involved
in the marriage equality vote for as a
full-time job back in Australia so we
really across all the activity that we
do and we have allies pretty heavily
involved in in the conversation
okay so again you gave
you
sorry everybody we lost the connection
there for a minute and so then you could
touch on this a bit along the way but
just to give people a sense of how easy
it is to get into the kind of border
gates evening them beyond opiates yeah
so I mean this is dependent on how much
time you have and there's some weeks
where it's quite busy in so you might
prefer to be on campus and have a casual
drink with with people from the club or
you know other clubs in school but
especially in the in at the beginning in
the fall semester and also spring
there's so many parties happening and we
often times basically what we do is we a
couple of us will share an event that's
happening in London on one of the group
shots that we have on whatsapp and then
the little group of us will go to
specific events in different clubs and
so else so it's really really easy and
you'll find that we also have links we
didn't mention this but with interbank
as well which is social network of
people in finance in London and the
organized drinks quite often so we also
join them so there's many many
opportunities again is depend on the
free time and on your world to to to get
out of there the Baker Street bubble but
it's actually quite refreshing sometimes
to to get out of yes ah the two campuses
and see what's beyond that the biggest
challenge I think always lpx it's like
obviously you're here to study reminded
[Music]
looking for a job obviously is spending
a lot of time that there's a massive
amount going on in terms of speaker
events social events conferences the
whole thing but like I said we think of
ourselves as a Baker Street but you can
actually spend your entire life
in lbs and actually there's a whole city
outside not just in terms of the gay
scene but also culturally all of those
things and I think people get the most
out of their studies and I should add to
that we I guess you kind of said this
but that we do through the club have
relationships with organizations around
the city so like for example there's an
organization like interbank for the tech
space I'm called out in tech and often
groups of students will go to their
events there's an organization called OB
woman leaders and and they they hold
almost monthly events I'm going to in
two weeks so there's an opportunity to
really build connections throughout the
London LGBT community as well but it's
all about keeping a balance great
question from mark which I'm going to
hold back as our wrap-up question but
and just a fact based one and what
reminder what's this year's Europe date
you're already looking forward to it
already put the time in my diary and
when do we know yet when reaching our
MBA rom berries this year where and
where so it will happen on October 10 to
12 I believe and it will be in Atlanta
so they had the website and you can look
it up and typically about 5 to 10 people
have gone from the club with some
support from the clouds as well which is
another really good event
so wrap up question from mark is what
are the some of the areas you'd like to
see out in business grow and develop in
the future it's a bit of blue sky I
think yeah that's a really good question
mark I mean overall we would just like
to see the absolute number of members
grow in terms of not only LGBT members
but also Ally members
many of us it would obviously that's one
of the things we would love to see and
but I think there's two major three
major transition that we would like to
see the first one will be just more
diversity in general and that will be
through copy female representation in
the club probably just diversity in
terms of areas geographic areas probably
if you could get more people from Africa
Asia and you know historically the
school has been is incredibly
international and that's one of the
biggest benefits of being here you feel
like you're just running by the whole
world but it's been historically many
European a nice but so if we could have
more people from these areas that would
be great and in general just building
more bridges with the ally communities
and this year you are we had allies
speakers which which was really great
because you know that's what it's about
it's not about just obviously it is
about having events within our own
community but it's also about how do we
fit in within the wider world
so essentially having a more active role
for allies and creating more of these
events in the future would be can I
throw in one I think one thing that's
really important is that we definitely
want to up our game on trends include
we've certainly I think created a
comfortable environments but I think we
can certainly up a gear on that I mean
the transitive representation at you're
out was definitely so much stronger but
I think not just the club the school in
general and society has to be
transformed and one of the I think done
on that and going into the whole
non-binary question and actually in one
of our campuses gonna have
gender-neutral bathrooms which i think
is a little a little detail but
testifies to do you know the extent to
which the scores that I get into these
these issues and to the well-being of
every student and in the application
form this year after some technically
we this year are committed to allowing
people to gender identify gender
identify and the application process so
we're not basing all our process purely
on legal gender identity good any final
thoughts before we wrap up yeah I mean I
would just briefly say that out in
business has been one of most fulfilling
experiences I've had so far and I've
really found not only amazing people
that are very smart and driven but also
warm and how you know how come some of
my closest friends like so and not only
students but also faculty members and
staff and Peter and everyone has they
have all been so supportive so it's been
one of the major parts of my experience
it obvious so far and I've really
embraced it and would recommend it to
any lgbtq+ and Ally applicants yeah but
just thank you for tuning in today and
and again do you feel free to reach out
at our address the email is oh Ivy I'd
love a video and we reply very very
quickly so do reach out
good just to echo what Sarah said and if
you're considering applying we really
want to encourage you to if you've
already applied we wish you success with
your application and if you've already
got a place accept it and come and join
us
I really can't joining out in business
I'm involved in other clubs on campus
and also on the executive committee of
the Latin club but I can say without a
doubt that out in business has been the
best part of my London Business School
experience the kinds of connections and
relationships I've made in our club like
saying like through the administration
with people like Peter with the dean's
office have been incredible from a
career perspective it's been amazing
from a leadership development
perspective
building perspective just outstanding
and I really I cannot recommend it
enough
so please do feel free to be in touch
with us and we do we personally respond
to the emails I'm starting with sift and
at oh I'd be at London I do and we look
forward to hopefully seeing you guys on
campus great thanks to see Fran thanks
to Ally
thanks to sky and Antoine who've been in
the background being our excellent
technical team thank you all very much
for dialing in and good afternoon

---

### Executive MBA Dubai: “I was looking for a professional reboot” | LBS
URL: https://www.youtube.com/watch?v=iFq5UjvU_Ps

Idioma: en

well for me my expectation or one of the
reasons I decided to go for my Executive
MBA was because I was looking for a if
you will a professional reboot you know
I really like where I work I like the
environment that I'm in but I really was
looking for a way to challenge myself
professionally to look at how my skills
compare with the best in the industry
across various industries as well as
upgrade the skills I have and to be
exposed to new things the reason I chose
to study and work it's because me
personally I didn't want to take that
time off of work I'm I really like what
I do and I wanted to be able to
supplement that with being challenged in
a very different way outside of work and
this kind of allows me to get in a way
the best of both worlds because what I'm
learning in class I mean it sounds nerdy
but I'm actually you know kind of like
looking at work differently and trying
to take little bits of what I'm doing to
apply it to it's my day to day work
which has been great
[Music]

---

### Executive MBA London: “You notice the diversity as soon as you walk into class” | LBS
URL: https://www.youtube.com/watch?v=3wq-Pr0WtVA

Idioma: en

the diversity is very clear it's
something you notice as soon as you walk
into class you'll notice the the
diversity on the basis that you've got
so many people traveling from so many
parts of the world we've got in our
class alone people flying in from Sao
Paulo
every two weeks we've got people from
Bahrain people from Kuwait I fortunately
live in London but I think I'm actually
the minority I think that's what
attracted me to the class itself it was
that diversity of culture and background
that you can see present within any
classroom participation not only is
their experience in the industry but
from their background in how they were
raised and in the industries that they
work in in those locations which is
really attractive so the program
structure itself is I think at the
forefront not only are we reading case
studies on a weekly basis we're also
able to listen in and add value inside
the class with each other so in a case
scenario we had last week where we were
talking about the fast food market we
had individuals that were had experience
on the consulting side but we also had
people that had started up their own
businesses it was that continual
exchange of information back and forth
within the classroom that made it
engaging it's always encouraging to hear
Faculty's point of view but the real
value from me
choosing OBS is having that experience
and the know-how and listening to my own
peers there's a real emphasis for
faculty and students to mix we do a lot
of social events there is no class
divided between faculty and students
which is what I find encouraging it
really does feel like a family
[Music]

---

### Executive MBA Dubai - Programme Experience | London Business School
URL: https://www.youtube.com/watch?v=a_FjrQvrxlo

Idioma: en

one of the reasons I decided to go for
my Executive MBA was because I was
looking for a professional reboot I was
looking for a way to challenge myself
professionally to look at how my skills
compare with the best in the industry as
well as upgrade the skills I have and to
be exposed to new things I got my
undergrad degree in the University of
Georgia in the US and I wanted that more
global perspective I wasn't going to
give up working to be a full-time MBA
student is just not in my DNA it was
great that I could actually go to work
three weeks a month and then take a week
off and focus on bettering myself the
program is a 20 month course that has
the first year full of core courses
which are set for you as students during
the second year you can take up to eight
electives what's great about this
program is that you can make it as
flexible and as global as you'd like it
to be I did most of my electives in
London and I also did an international
assignment in India it was extremely
rewarding to be able to apply what I
learned in school directly and
immediately at the workplace my
colleagues saw and benefited from the
new ideas perspectives and knowledge
that I brought the fact that it is that
same faculty that teaches in Dubai as it
doesn't London is what makes this
program really really attractive having
been through the program I've have a
deep understanding for the rigour it is
a very very serious program that
produces high quality graduates really
inspiring lecturers graded teaching
classes are well managed with a lot of
participation and a great deal of
application we like to think that the
high quality of our Executive MBA
graduates as I do by campus is partly
due to our teaching and the high quality
instruction that we provide at the
London Business School but I think that
another major factor is the high quality
of the student body the fact that they
are able to interact with so many of the
leaders in the region is one of the
things that pushes the monitor quite a
success in future business endeavors
having a truly global network very few
universities can claim
that the opportunity to interact with
very highly capable individuals from
diverse backgrounds and cultures is one
of the most exciting aspects of the
program
I think it's an added value that's
really priceless the bay's is a great
place and I'm sure that people will tell
you every day that it is a melting pot
of cultures it blends east and west
together in a unique way it has all the
amenities that one can think of there's
so much opportunity here if you can
dream it you can conceive it you can
talk to people about it and you're open
and an enthusiastic people give you a
shot it's a very diverse place it's very
international it's really booming and
there's a lot happening so there are
definitely opportunities in the business
world and I think that the lbs program
gives you a lot of frameworks and a lot
of angles and approaches that you can
see how you can capture those
opportunities when the business school
has changed my perspective on the world
it helped instill a confidence in me and
helped me drive value for my corporation
and then afterwards all my businesses I
believe I got exactly what I wanted from
the executive mba program and that it
helped fill certain knowledge gaps but
also give me skills and i allowed me to
build relationships that hopefully would
stay with me my lifetime a person that I
was when I applied for that application
it's gonna be a lot smarter a lot more
experience with a really big network at
my fingertips
[Music]

---

### Masters in Finance: Career Support | London Business School
URL: https://www.youtube.com/watch?v=cpenE89rNgk

Idioma: en

the Career Center LPS was very useful in
terms of educating me about the various
roles available in finance linking me to
alumni who have been in the same shoes
before but also helping me strategize on
how I was going to apply and get to the
jobs that I wanted the Career Center
helped me in a number of ways the career
support was tailored to my specific
goals by picking up areas that I was
already strong in and could pitch those
but also picking out areas I needed to
develop so the way the Career Center
supports mass and finance students is we
really take an all-encompassing approach
around the career lifecycle we have a
suite of career skills offerings but
then what we do is we take the
foundation of that and we overlay it
with one-on-one personalized coaching
because we recognize that people have
different requirements I would say the
most valuable support I got from the
Career Center was probably the
one-on-one sessions
figuring out the job that you want to go
for it's not an easy task and I think
having people who have worked in the
field who has trained numerous classes
before you and seen what they've gone
through in the career search is very
helpful to be able to talk to them ask
questions bounce ideas and finesse the
strategy on how you're going to get to
the career you want the Career Center
once I left London Business School have
been invaluable in a number of ways from
figuring out which office to accept how
to negotiate those offers and also how
to think longer term about my career and
where I want to go about 80% of students
go into financial services areas and
then 20% into corporate consulting
within the financial services space
Investment Banking
and also government and Supernationals
make up a large part of that but we're
additionally seeing a real pickup in
private equity and venture capital in
fact private equity and venture capital
roles have doubled year-over-year in
terms of where our maths and finance
students that we go the caliber of
recruiters that came to campus in a word
hi people from all the big asset
management houses from hedge funds and I
think the other interesting part was
they even managed to get hedge funds
that weren't necessarily recruiting on
campus so you could network with them
and maybe set up a longer term career
goal the alumni network is definitely
great I happen to actually start in a
role where I sit next to a myth from the
year before and it helps you bond much
quicker simply because you've had a
share experience at a school debt most
people though the London Business School
alumni network have been great at
helping with my career I was actually
interviewed by an alumnus Elvia who's my
boss now so I guess you could say
they've been critical they hang on that
career
you

---

### MBA Global Business Experience | London Business School
URL: https://www.youtube.com/watch?v=r7ZW6ebUWi4

Idioma: en

[Music]
much of the MBA is about discovery of
new cultures and new people and this was
a very concentrated and powerful
opportunity to do just that
the GBE was hands-down the highlight of
my LBS experience the chance to really
dive in and understand a whole new
country really brings so much more
global perspective we spent the week
experiencing the vast changes that are
happening across the economic social and
demographic spaces in India and we did
that primarily through the prism of
working with the social enterprise
they're the global business experience
heard GB is as most people refer to them
their week-long experiential courses led
by two members of faculty take place in
the second year the MBA program in one
of seven different locations so I picked
Johannesburg from a great list I could
have also gone to Mumbai Hong Kong
Myanmar tel-aviv and Lima our annual
trip is focused on understanding the
lives of micron tumours they work as
consultants to micro business owners in
Alexander Township and our students make
recommendations to the entrepreneurs on
how they can achieve growth one of the
great things about working with micro
entrepreneurs is you get to see the
impacts of some of the changes and
recommendations quite quickly it's one
of our ideas was a bit like you have in
the UK you know you pay a bit extra but
you get your washing quicker soon as we
mentioned it's a mandala he was like
great idea I think up to 50 percent of
my customers might be interested in that
in a special for a week
I learned things that you could have
taken me maybe two to three years to
then it was a superb week for a
networking opportunity through firstly
seeing the power of the lbs at alumni it
was also excellent to meet prominent
people in other businesses but also
there was an internal network piece to
it as well it was a wonderful way to get
to know other people in the MBA cohort
[Music]
the jeebies are a mixture of different
activities and it really reflects what
the aims and objectives are in some
cases it's more related to project work
in the case of South Africa it's working
with micro-entrepreneur
in India there might be a social
entrepreneur in Myanmar that might be a
tech entrepreneur but typically there
are our company visits there are guest
speakers or panels designed to provide
contextual information around the themes
make sure some of those topics and
themes really come to life I really did
look back and think about the business
application that I was drawing on from
all the first-year courses I took it's
nice that you take it in your second
year because you have a little bit more
perspective and you feel just very
confident and comfortable and applying
those business learnings and lessons
into the project I really discovered by
interacting with an entrepreneur how it
is all just about doing how to have an
impact without actually having many
resources to deploy they open up my mind
so much and allow me to think so many
things everything I experienced here
it's gonna change my life I think it was
a very rich immersive experience that
was priceless you couldn't build that or
get that experience from any other
program or any other trip so just a
really unique and remarkable experience
[Music]

---

### HR Strategy Forum 2018 | London Business School
URL: https://www.youtube.com/watch?v=i75qu9HFBKI

Idioma: en

we're here for the seventh annual HR
strategy forum this year the focus is
work Inc 2028 so what will work look
like 10 years from now and what do we
need to start doing now to be ready in
ten years time the level of training
retraining that I think we all need to
get our head around is of a magnitude
that I don't think we've quite grasped
yet
you all remember coming out of HR that
you organized around the most important
function and the most important function
in the future will be the exercise in
the morning I really liked because it
asked you to take one particular
dimensions they lead a ship apply one of
the new lenses and see how it be make
some real changes I joined a session
with dr. Randall Peterson get some great
insights into a diversity and
collaboration if you want to know what
makes people most angry
it isn't negative effect or negative
relationships with other people it's the
feelings of inequity unfairness within
teams that would come out of process
conflict had some fantastic
presentations that have given me new
perspectives and I've also lengths a few
things which have affirmed some of the
thoughts I had about making things work
differently in each other we've heard
about AI and digital we've heard about
demographic changes so how do you
respond
I think corporations can a must step up
not just to educate their own employees
but actually to educate others around
them we know that between 70 and 80% of
humans are disengaged from work and 19%
are actively disengaged from their work
meaning they're disgusted by it we're
going to need to start triggering some
of these positive emotions and firms
that can't or won't do that will
probably not be around for much longer
an important element in creating
self-awareness for leaders is what is
your preference as human
and it's phenomenal to see how energized
people what I'm really taking away is a
very pronounced sense of disruption it's
here it's staring at us we've had 17
bankruptcies in 2017 of more than a
billion dollars largely driven by really
dramatic macro shifts in people's
behaviors we in corporations have got to
play a role to support people in what
will be the largest and fastest
transition that mankind has ever gone
through these are problems that we're
going to have to tackle in two years
time five years time ten years I believe
the problems that we need to tackle
right now it's important those HR
leaders we are not just getting other
people to learn and develop themselves
but we take the time to do their for
ourselves soon if we don't recognize the
respond to the challenge we will be
swept away in a perfect storm of
creative destruction with a hand we
recognize and respond to the challenge
we seize the opportunity we can create
lots of new different and actually much
better work
thank you
[Applause]

---

### MBA: Career Support | London Business School
URL: https://www.youtube.com/watch?v=7IOrvJZ9ymQ

Idioma: en

I think the most valuable support I
gained from current service was really
it's a tailored approach you get to
listen to your story and then they come
up with a strategy based on your story
and that story has to be presented
consistently throughout the process your
experience here at OBS isn't just about
your education it's about your whole
journey of figuring out where you want
to go next in your career and the Career
Center is an integral part of that
consistently over 90% of our graduates
find jobs within three months after
graduation when you're students you
probably don't realize the amount of
people who are working to find a job for
you right I think you don't necessarily
realize that the power and the strength
of that unless you've found that other
schools don't have that the career
portal has a listing of all the jobs I
think that is very very helpful in the
sense that you just go to one place and
you can see all the job opportunities
there are another way that we help
students is by working one-to-one with
them as a coach it provides a space for
students to explore what it is they want
to do think about both their short-term
and their longer-term career goals how
they're going to get there create some
kind of an action plan I remember
reading coaching advice and things like
that that just helps you grow as a
person how you pitch your resume how you
write things to this day those tips that
I received I still use a lot right
before you do your interviews there
would be mock interviews with people who
have done it before with external
consultants that really get you
comfortable to be sitting in the actual
jurors you also have interview guides
which are prepared by both the Career
Center and previous year students that
was the Bible for me in terms of getting
the
and interview for Investment Banking
some of the big finance firms that
recruit our MBAs include Goldman Sachs
and Credit Suisse the strategy
consulting firms McKinsey Bain BCG are a
popular choice and in the springtime we
have a boutique consulting firms event
that introduces our students to some of
the smaller consulting firms that are
out there we have developed
relationships with large technology
companies such as
Amazon and Google but also smaller
companies such as circle and Sam labs I
still have a very strong relationship
with the Kerry services of LVS but more
from like a recruiter perspective so now
every time we do have internships so
every time we need candidates are you
one of my by default thing will be to
make sure that those jobs are posted on
LDS the alumni network at lbs is really
amazing tool for MBAs to help them with
their career while they're here as
students they reach out to alumni have
informational interviews with them to
find out more about what it's like to
work in their sector and get some
general careers advice it really is a
tremendous thing because it helps you
not only when you're here as a student
but also when you become an alumni
because you can tap back into that very
helpful group of people who can help
point you toward potentially your next
opportunity what cities have graduated
we offer career support through our
alumni Career Center staff when I was at
BCG and I was looking for a new job and
I wanted to basically move away from
Paris and go back to London I went on
portal and that's where I found an offer
from hotels accom I applied through
portal and that's how I got the job the
impact of our career sport is that
students leave with a set of career
skills that they can use not just for
their first job post MBA but as lifelong
skills they can use for every job in the
future
[Music]

---

### Corporate Finance programmes l London Business School
URL: https://www.youtube.com/watch?v=vuZfWhGRl6M

Idioma: en

you need a sound understanding of
finance to succeed in business this
means having more than a passing
familiarity with profitability capital
structure and liquidity it's essential
to be fluent in financial reporting and
to understand concepts of value and
managing risk London Business School
offers a series of corporate finance
programs to help you do just that
they've been developed to enhance your
strategic abilities by members of our
world-class faculty who advise
businesses around the world take the
programs in sequential order to
experience their maximum impacts or
choose the ones most relevant to your
career lay your foundations by getting
to grips with financial statements in
our accounting and financial analysis
program through forensic data analysis
you'll understand which numbers matter
identifying the drivers of profitability
and assessing how efficiently assets are
being utilized so you can tell the true
story of a company working with genuine
financial statements from all sorts of
organizations you'll gain the confidence
to assess different industries in
different scenarios you will then now
the accounting backgrounds needed to
correctly evaluate assets returns and
risks on our valuation program here
you'll learn how to add value to your
firm by scrutinizing the capital
structure of public private and
multinational corporations
you'll also apply ideas in an
international context discussing risk in
return and exploring debt and equity
markets
mastering valuation methods means you're
ready for the next stage raising and
deploying funds for your company on our
financial strategies for value creation
program you'll examine the real
strategic decisions that CEOs face that
includes raising capital mergers an
acquisition IPOs and restructures you
will explore ways of adding value
look at how financial instruments can be
used to manage risk and see how the
market responds to changes in
organizations and then you'll be
eligible to attend the final program in
our series advanced corporate finance
this is a masterclass in complex value
based decision making it simulates a
boardroom discussion using international
business case studies where you'll find
solutions to the challenges people face
in today's changing landscape transform
the way you think about business and
along the way you'll hear from guest
speakers from a range of industries meet
peers from around the world and explore
innovative ways of working then see the
difference you can make to your
organization what to know more visit our
website or get in touch
London Business School London experience
world impact
[Music]

---

### Executive Education Alumni Reunion highlights 2018 | London Business School
URL: https://www.youtube.com/watch?v=QT0-FOVGpUk

Idioma: en

I'm at the Reunion event today for two
reasons
principally to continue to learn to
continue to progress for myself but also
to meet my friends and it's great to see
them all have come from four corners of
the world and it's a really important
during fever Union you get a chance
first of all to refresh so it's a great
refresher what you've learned what you
promise to yourself when you are here
it's a great opportunity to meet new
people as well as your old friends from
the group I'm strong believer that
lifelong learning is one of the most
important topics in life and probably
for most of us forever and this was a
good opportunity to go back to school to
get a little bit new new ideas
impressions and also to meet my old
friends again
my highlights of the day today it's been
really an interactive session so it was
a great balance between lectures with
the high standard faculty members but
also some breakout sessions with fellow
colleagues the faculty member that stood
out was Nero he talked to us about
decision-making and leadership and it
was brilliant and insightful not only
from a professional perspective but also
from a personal perspective and what
I've learned is business is Ashley
friendship so the reason I'm so pleased
to be back here today is to see once
again my great friends from 10 years ago
it's very important for me to come back
to the
Business School campus because it's
really a time that we take some time off
to reflect on the challenges and how can
we be best prepared to face and help us
not only us to grow but also our
business to grow and also how can we as
leaders how can we bring along our teams
I came last year and what I got from the
event was they know you have access to
new lecturers and where they can update
concepts this combination which is so
fantastic between the networking and
learning constantly about new topics
issues that are relevant for the
business world today it's really a
fantastic opportunity not to be missed
we'd recommend to people to come here to
join the session of China for the next
year reunion being here is a amazing
opportunity and I would advise to
everybody to join us here because this
feeling of empowerment that this place
gives especially this alumni meetings
give it's very important so it's good to
be back
you
[Music]
you

---

### ING Think Forward Leadership Experience | London Business School
URL: https://www.youtube.com/watch?v=5UhVFM3Qe6U

Idioma: en

when we articulated the thing for our
strategy a few years ago it became very
clear that leadership development would
be one of the drivers of delivery of the
strategy now how to do that for 6300
people that's many many people so we in
then developed in a joint operation with
London Business School a bespoke program
where we identified six capabilities
which we felt would be essential for
strategy delivery the foundation of the
success is how well we have identified
the capabilities we need to work on and
how we have designed those exercises
it's a nice variety of means of delivery
so there's a classical classroom
teaching there are the face to face
meetings and there is the online stuff
it gives us a showcase of how good
executive learning can be it's
impressive to see how such a big
operation can be run well logistically
and this is only the foundation but it's
a very important foundation we had to
get to know what one business school
they had to get to know us and you know
I appreciate that even experience
getting familiar with vernacular of a
company with how things are being run
that does take time and I must say lbs
has held up very very well I really like
how dispassionately
we have identified both capabilities we
needed to build management rather than
dreaming away about leadership then we
were really impressed with the
capability level of the moderators that
were formed at the business school with
their plenary speakers between 2015 and
2017 exactly the stretch of time when we
started working with lbs all the
indicators that relates to leadership
have gone up dramatically in our view
this business and its transformation is
driven is led by our managers but
underlying
as I have found out a long way is
building on self-awareness of leaders is
probably the amend of any improvement
and effectiveness you can get lbs are
positioned themselves very well or long
going collaboration
[Music]

---

### Bupa's CEO Challenge - Global Business Consortium | London Business School
URL: https://www.youtube.com/watch?v=zVkyTNZ9XI8

Idioma: en

[Music]
this is our first year so we are
relatively newcomers and we were
particularly interested because we had
we had a need for our executives and
after exploring a little bit what GBC
was about we felt that there was a very
good marriage between the needs that we
have and what lbs and the GBC was gonna
bring so the CEO challenge was in fact
also one of the reasons why the program
was interesting to us each one of the
teams of the six companies that are part
of GBC get their CEO to give them a
challenge the challenge that was set by
the CEO when we started on this journey
was to come up with a global proposition
commercial proposition for workplace
health and well-being but it's fair to
say as we got some insight around that
we reframe the challenge and something a
little bit different making the
workplace not quite as important of
priority and really just focusing on
health and care solutions for the future
worker that may work in lots of
different workplaces to respond to the
challenge we used a lot of the research
and the learnings that we've got from
the GBC program and brought those in to
our thinking in coming in answering the
challenge it was one of the key reasons
why we in fact changed the challenge was
the learnings in particular from the
second module which looked at the
hundred-year life and the way that work
is changing led us to a conclusion that
we needed to focus on the future worker
and not the future workplace being able
to have the six of them that come from
six very different businesses from
multiple countries work on something
together and as a team on a challenge
that is a very real challenge for us
bringing some of the expertise of LDS
and the faculty that they are exposed to
linked in with you know input that they
get from their colleagues from other
organizations was very attractive to you
so what we were really thankful we were
able to do is focus on customer research
first
we interviewed around 60 different
potential consumers or customers that
would fall into the segments that we
chose to design for and so through the
course of that understanding and lots of
interviews and empathy with those
particular cause
the groups we were able then to follow a
process to try and understand their
needs understand therefore what might
meet those needs and then part of the
presentation of the challenge was just
to present back to Evelin our CEO some
of those ideas and we prioritize three
that we're now looking at which
potentially could be new products for
bucco in the future so the challenge has
been a success because it has given us
you know as Bupa a lot of insights I
mean they have come up with you know 14
fantastic ideas that came from even more
that they reduced to three and one that
they have explored really in depth so I
think we will get you know a payback and
then one of the ideas could really
disrupt the industry that were in so
that one you know really happens you
know we're talking about potentially
reinventing one of our main business
lines so we'll have to see but you know
there's a there's a lot of potential
there
[Applause]
you

---

### HR Strategy Forum 2017 Highlights | London Business School
URL: https://www.youtube.com/watch?v=wa78fCk7KE4

Transcrição não disponível

---

### How can I move into a new role? | London Business School
URL: https://www.youtube.com/watch?v=ksLcAr1cz1s

Idioma: en

[Music]
no matter what your job is today
chances are you're in a what got you
here won't get to there moment it used
to be that you had the luxury of waiting
until you got moved into a new
assignment or even got promoted to have
a what got you here won't get you there
transition today that's not the case
even if you plan to be in the same role
for quite some time
expectations are changing technologies
disrupting how your organization works
and chances are you're going to have to
make your own transition

---

### Leading Change programme overview with Dan Cable | London Business School
URL: https://www.youtube.com/watch?v=tqVY9HKFgWU

Idioma: en

the leading change program highlights
why anxiety and fear shuts off parts of
our brain how does it lead or create a
culture of excitement and curiosity
which is the root of innovation think
the program concentrates on four basic
skills the first one is this idea about
the emotions of change and the
cognitions of change the second piece is
this notion of the power of why
understanding the power of purpose and
why are we going to make this change is
critical a third really important
element is the mindset of change and
thinking about how to develop as a
leader this idea of a learning mindset
doesn't mean you always get it perfect
it means you have to practice if the try
new things you have to learn and then
the final part of the program is
stakeholder management and network
management in terms of who the program
is aimed at it would be a leader that
has some jurisdiction they have the
power and the resources to make
something happen in their organization
it usually means that they'd have a team
of people that they're trying to get to
act in a new way
it usually means that they have the
authority to try to start the team
moving in a new direction and innovate
and create something new in terms of how
we teach the program perhaps one of the
most important things is that each
participant comes with a change
challenge where they've mapped out
something that in their real world they
are trying to change and every single
session goes back to that change
challenge and says based on what you've
learned there so what what would that
mean for you and your own change
challenge everything in life that seems
easy now started out hard from walking
to learning to play an instrument to
learning to write the leading change
program focuses on the idea that as
leaders we can get people to understand
the reason for the change and practice
the change so that what seems so
difficult now soon becomes the new
normal
you

---

### Don’t fear disruption | London Business School
URL: https://www.youtube.com/watch?v=P_isGFE91Zc

Idioma: en

a disruption is a disruptive business
model that comes and undermines your
business most of us look at it as a
threat that cannibalizes the core
business it could but it's also a great
opportunity to creating and exploit a
new market you have to be creative you
have to create the right kind of actions
in the organization so don't think of it
as a threat think of it as an
opportunity and try to disrupt the
disrupter
[Music]

---

### 3 ways to test the quality of a mergers and acquisitions strategy | London Business School
URL: https://www.youtube.com/watch?v=eXaNFzcB5Ss

Idioma: en

[Music]
so one of the first tests is actually to
see if the company is investing in the
same industry and that's a sign that it
understands it that its environment is
understands its ecosystem and its
dynamics another test of success is
whether the company is pursuing a very
long and address due diligence process
sourcing the best this is actually key
in today's market and finally the third
level of success is whether companies
are willing to reassess their synergy
targets the markets are changing all the
time and the deal is always different
after it is signed and it's very
important to understand how things
evolve how they change and act
accordingly
[Music]

---

### HR Strategy Forum 2018 | London Business School
URL: https://www.youtube.com/watch?v=i75qu9HFBKI

Idioma: en

we're here for the seventh annual HR
strategy forum this year the focus is
work Inc 2028 so what will work look
like 10 years from now and what do we
need to start doing now to be ready in
ten years time the level of training
retraining that I think we all need to
get our head around is of a magnitude
that I don't think we've quite grasped
yet
you all remember coming out of HR that
you organized around the most important
function and the most important function
in the future will be the exercise in
the morning I really liked because it
asked you to take one particular
dimensions they lead a ship apply one of
the new lenses and see how it be make
some real changes I joined a session
with dr. Randall Peterson get some great
insights into a diversity and
collaboration if you want to know what
makes people most angry
it isn't negative effect or negative
relationships with other people it's the
feelings of inequity unfairness within
teams that would come out of process
conflict had some fantastic
presentations that have given me new
perspectives and I've also lengths a few
things which have affirmed some of the
thoughts I had about making things work
differently in each other we've heard
about AI and digital we've heard about
demographic changes so how do you
respond
I think corporations can a must step up
not just to educate their own employees
but actually to educate others around
them we know that between 70 and 80% of
humans are disengaged from work and 19%
are actively disengaged from their work
meaning they're disgusted by it we're
going to need to start triggering some
of these positive emotions and firms
that can't or won't do that will
probably not be around for much longer
an important element in creating
self-awareness for leaders is what is
your preference as human
and it's phenomenal to see how energized
people what I'm really taking away is a
very pronounced sense of disruption it's
here it's staring at us we've had 17
bankruptcies in 2017 of more than a
billion dollars largely driven by really
dramatic macro shifts in people's
behaviors we in corporations have got to
play a role to support people in what
will be the largest and fastest
transition that mankind has ever gone
through these are problems that we're
going to have to tackle in two years
time five years time ten years I believe
the problems that we need to tackle
right now it's important those HR
leaders we are not just getting other
people to learn and develop themselves
but we take the time to do their for
ourselves soon if we don't recognize the
respond to the challenge we will be
swept away in a perfect storm of
creative destruction with a hand we
recognize and respond to the challenge
we seize the opportunity we can create
lots of new different and actually much
better work
thank you
[Applause]

---

### Professor Tammy Erickson - Developing and leading your future workforce | LBS
URL: https://www.youtube.com/watch?v=GA5HdcsVYoM

Idioma: en

all right well I'm delighted to be with
you here today
I want to say first of all for those of
you who are learning professionals that
what I'm going to do is not what I would
do in the classroom so in the classroom
I really do try to get people to come
along to a point of view and hopefully
elicit it from them but I was told that
for this you really wanted to hear bang
bang what to do so I'm gonna kind of
switch it around in the opposite order I
decided I'd give you ten predictions for
2028 and then I thought to myself well I
can't just say ten things and not tell
you a little bit about why so I squeaked
in some why and then I thought and I
really want to say a word or two about
how so I squeaked in a little of that
too so my apologies if I go a little
fast you will absolutely have the slides
if you'd like them we'll email them to
you but let me begin and tell you what I
think are ten things that will happen
when we begin to deal with all of these
issues we've been talking about so we've
heard about AI and digital we've heard
about demographic changes we've heard
about all of these kinds of things so
how do you respond here's what I think
the first two things are largely
technology but not exclusively
technology driven here's my first thing
I suggest to you own less and that means
have fewer employees so I'm going to
include the employee the full-time
employee relationship as part of the
subject of ownership you should own less
and you should have fewer full-time
employees by 2028 most companies will so
think about it this way if you have
roughly 5,000 employees today by 2028
will you still have employees I think so
and it'll vary by business how many of
those will be but you might have say two
or three thousand and then you'll have a
community a broad community of people
who contribute to what your organization
is all about why do I say this well the
first reason has to do with someone that
you may recognize I don't know how many
of you have seen this handsome guy
before
but this handsome gentleman one of my
heroes is named Ronald Coase he wrote a
fantastic book back in 1937 called the
nature of the firm the Nobel Prize
Committee read it in 1991 and gave him
the prize
now what did Ronald Coase say well he
actually made a pretty cool prediction
what he said back in 1937 was that there
would be a relationship between the cost
of communication or transactions and the
amount of stuff that a company would own
what do you think that relationship is
by the way in other words if it's really
expensive you've got to get on your
horse and buggy to go communicate with
your suppliers and try to negotiate are
you more likely to just buy those
suppliers or to continue the negotiation
do you own more if the communications
are costly or own less what do you think
the answer is actually more that's what
he predicted and in fact if you look
back in history at for example the start
of the automotive industry one of the
first things the Fords and the Morris
motors of the worlds did was backward
integrate they bought all their
suppliers because communication costs
were high and frankly it was a pain in
the neck to try to negotiate with those
guys to get the goods they needed where
they needed them on time so they bought
them now what happened in 1980 we get
computers and people begin to put
computers into their companies what did
people also do in 1980 so the cost of
communication begins to fall with
computers what did people begin to do in
terms of what they did within their firm
boundaries they outsourced
yeah they spun things off and so in fact
I think the reason he got the prize in
1991 is the decade of the 1980s proved
his theory it showed that as
communication
Hoss fell companies owned less and my
argument to you is that communication
costs over the last decade have
plummeted once again and you have not
taken advantage of it but mr. Coast /
Dix that you will so over the next few
years you need to look at every single
thing you own all of your physical
resources but also your full-time
employment roster and decide how much of
this did we own and how much of this
should we tap into on some other basis
that's the first the second reason that
we need to own less is that with lower
costs we begin to move just as Michael
described to more of a network model
networks win when communication costs
get low in other words owning stuff
doesn't give you the same kind of
economic return as having the ability to
do the connections as the connections
are less expensive than being at the hub
of those connections is where the
economic power comes in this is a
classic picture of a standard kind of
business model where you have producers
you make something in your company and
you sell it to your customers today we
call that a pipeline business all in one
direction and of course the wave of the
future that we're seeing in industry
after industry is to take advantage of
this lower cost of communication to
create more of a network basis where you
in fact in the center are the platform
allowing people to both produce and be
on your platform and consume out of your
platform on both sides you're providing
in the middle the network the curation
the ratings the trust that those give
the connections that you can provide so
it's about getting bite-sized
opportunities thinking about how could
you break what you do down into bites
into pieces that different people could
contribute to whether we're talking
about individual human beings
small corporations big corporations how
do you create a way of breaking down
your value chain so you can get those
bite-sized pieces coming in and then how
do you want to curate and rate them in
ways that those who end up purchasing
from your platform will find adds that
element of trust today by the way seven
of the top ten valued firms in the world
our platform based there's really not
very much doubt it that the idea that
platforms are going to win here's a
study that was done by some other
professors where they looked at four
different categories of ways that
companies make money one was traditional
they called it asset builders where you
actually are building something inside
the company the second was a service
provider they broke out technology
providers in a special category because
those do have slightly different
economics they didn't lump them in with
the traditional asset companies but then
look at the network or platform
companies very significantly different
economics being achieved there and the
expectation is platform's going forward
were win now some of you are probably
saying yeah but we're a big traditional
firm right we're a big manufacturing
company we can't do a platform well I
think you should think about it here is
one company that has gone platform this
is the Chinese company hire they make
washing machines and refrigerators and
so forth or a white good manufacturer
and they basically decided to turn into
a platform so they spun off all of their
manufacturing into small entrepreneurial
ventures they created a platform at
their level to provide the financing and
again to provide the curation and rating
and all of those kinds of things the the
sense of security that their customers
would want with the higher brand name
and then the people who are running the
entrepreneurial ventures are now paid
based on performance so the risk of
performing to the higher standard
is now borne by those who are running
those entrepreneurial ventures I think
this is an unbelievably gutsy move will
it work is it a model for what other
companies should do I don't know and it
certainly is going to the extreme but
the point is people who are likely to
win in the future I think are going to
take some big bets and here's a company
that's decided to take a big one so
here's a bit on the how I think starting
immediately you should look at all your
resources as I said physical as well as
employees and you should decide what
does it make sense to own there will be
things you should own there may be
people for example who are so scarce
that you absolutely want to employ them
full time simply to keep them off the
market so nobody else can touch them but
there's going to be a lot of other
opportunities to tap resources in a much
more flexible way not always through
conventional outsourcing you make do it
in a whole variety of ways I expect to
see companies deciding to share a
resource for example maybe even jointly
hire a pool of people that I need
sometimes and you need sometimes all
kinds of creative things we could
imagine for how we would rent or share
or borrow or barter different resources
given these different economics so
embrace a whole variety of range meant
think like a platform think how do I
break down what I do into bite-sized
pieces that other people could bid to be
part of could could join in with me and
stop telling people to be agile and
design an agile organization one of my
pet peeves is when we use words like
agility or collaboration as something
that we want human beings to be well we
sort of want them to be that but the
reality is being agile means giving you
choices I've got to design a system
where you have some options and if I
design a
a system where you can create choices
and to make different options based on
what you see in the marketplace you're
gonna be agile
that's what it takes so as leaders we
have to think about designing agility
into our organizations everybody ok I'll
take a breath okay here's number two
plan less and you should plan less for
two reasons I'm gonna tell you both in a
second but by planless I basically mean
just get in the real-time access what
you need when and where you need it be
more in the moment stop long-range
planning I think going forward by 2028
we're going to see a lot less planning
going on work processes are going to be
redesigned to use real time coordination
of assets and experimentation is going
to replace strategic planning as a major
decision-making tool in corporations why
do I say this two things to wise the
first one is the digital really changes
how we do things Adam mentioned I've
done a lot of work studying different
generations and one of the fascinating
things about studying young people is to
watch how they get stuff done and
unconsciously competent users of digital
technology do stuff in ways that are
different than those of us who learn to
use digital technology as adults so
let's just play with an example okay now
as you can probably tell I'm pretty old
so you can imagine I'm one of these
ladies up here with the pillbox hat okay
tell me how I would go about the process
as an old lady of having lunch with one
of my old lady girlfriends how do old
ladies have lunch with a girlfriend what
do I do what would I do
I would ring each other up yes we'd call
when would we do this weeks in advance
absolutely now here's the important part
why would we get to on our phone call
where would we end up
date time plays type of food who's gonna
drive what we're gonna wear right we
would have made a plan yes old people
plan now think for a moment about this
young lady
okay how she gonna have lunch with a
girlfriend what's she gonna do
text whatsapp write or look at some yeah
I'm here right when is she doing all
this not just the day now yes in fact
you've probably read about Pavlov who's
done research on dogs well he found out
that when dogs are hungry they drool my
research would say when young people are
hungry they text this is the new
Pavlovian response okay so she texts or
whatsapp's or takes an Instagram or
whatever now what's in it what's the
content of hers
bingo exactly you are spot on
it is a location-based communication she
would communicate either her location
they would communicate their location
they would then begin a process like
ships using radar of homing in on each
other until they end up at the same
place but at no time during that would
they have planned okay this is an
example of what's going to come to your
company now what do I get when I plan
what's the one that advantage did I have
when I planned my lunch security about
what I know what day yes I know it's at
a restaurant I want to go to I know I'm
having it with a person I presumably
wanted to see what are the disadvantages
it right if things change I have very
little flexibility right what if my boss
says to me Tammy you've got to work
through lunch or what if I'm not feeling
well and I don't want to eat lunch now
my friend is driving in from the
countryside incurring all kinds of costs
and Here I am stuck with this inflexible
plan what advantage does she get when
she community coordinates her lunch
plans what does she get she gets an
opportunity for what okay so she might
have lunch with somebody she didn't even
know was in town it's a pleasant
surprise she of course gets to do it
when she wants to do it when she's
actually hungry she doesn't have to do
it if she's not hungry so it becomes
much more finely attuned to the specific
needs of the situation these are the
characteristics you need to think about
in your corporation now go back to your
processes and say where is it so
important that we have Joe on the 15th
of the month that I need to plan for it
versus there's a bunch of people who can
do it and I can just wait and see when I
really need them and tap them as needed
that kind of feel of coordinating versus
planning is what you need to bring in to
all of your business processes yep some
and so you're going to have to think
about it in terms of where the risk is
greater one way or the other for example
is there a risk with uber that the car
that there are no cars available I
suppose so
doesn't seem to be a huge problem and
you probably have to have a back-up plan
if it isn't available but I think what
you'll find is that if you look
carefully at your processes there are a
lot of places where you're willing to
bear what you're trading off is the
optionality that it gives you with the
potential for some risk that's what
you've got away so it's not clear-cut
it's not 100% but do you want to have
optionality or do you want to have
certainty and what's the pro and what's
the con and where do you need it and
where don't you need it so those are
things you have to start thinking about
today because by 2028 a lot of your work
is going to be coordinated I guess you
could say if you wanted to your company
is going to be overrides all your
processes will be authorized now the
second thing about plan
is that with the environment we live in
today frankly planning is kind of
ridiculous now I grew up doing planning
in fact the first job I had was making
market forecasts about how much of a
particular product would be sold ten
years from now single point forecast
that doesn't make sense today and in
fact planning makes much less sense
today today it's about the kind of range
of uncertainty that you might see and so
we believe very deeply here at the
school that rather than as things get
more ambiguous spending lots and lots of
time in debate and internal discussion
to try to get buy-in and consensus which
just slows you down or digging into
complexity through endless analysis
again that can while it can provide some
good insights can again slow you down
that the very best way to operate today
is to try it just test it so we are firm
believers that a culture of
experimentation I'm not talking even so
much about the experiments themselves in
some way but just getting people to
think about let's try it let's figure
out a way to test this as a way of
approaching decision making is the way
you need to think in a complex and
ambiguous environment it has a variety
of benefits of course one is it kills
off what we call hippos that's highest
paid person's opinion
ah it allows you to stop relying just on
gut instinct it encourages more ideas to
come forth I mean imagine how young
people feel if they are constantly every
idea they put forth has to go through
endless debate and then gets shot down
in the end instead hey that's a good
idea let's just try it so these two
reasons we think make it very important
to cut out as much planning as you can
here's Bezos saying our success at
Amazon is a function of how many
experiments we do per year
per month per week per day that's the
secret to success try stuff break it
down little pieces limit the risk and
try it
so the suggestions ya planning will
still be important for some resources
there'll be some things you'll say this
is so essential that we have exactly
this resource at exactly that time okay
but it's going to be more expensive in
the hole because of the lack of
flexibility that it will give you you're
going to replace planning with
coordination in many process steps and
again rather than telling people be
collaborative design your system in ways
that make it possible for people to
coordinate among these various pieces
within the overall network and make
decisions by experimentation okay all
right onto number three got to
reorganize reorganize in fact by tasks
companies by 2028 will be largely
organized around discrete activities
self-managed projects so work within
organizations will be organized by task
because the most important activity we
will do will have to do with knowledge
and the natural shape of knowledge is a
project knowledge is not contained in a
physical office it's not contained in a
single functional entity and so thinking
about the project that the knowledge
spans is where you want to think about
your organizational hub you all remember
coming out of HR that the basic lessons
of organization is you organize around
the most important function and the most
important function in the future will be
knowledge so organizing around projects
as your primary and having the others be
whatever dotted line you have to have is
where you need to go now why do I say
this well one reason frankly is that I
am really
tired of working with companies who want
me to force fit something you really
desperately want to do into a system
that really desperately doesn't want to
let you do it I would have to say a big
part of my career has been spent working
with HR people who say Tammi we got to
do this but the system won't let us well
people it's time to get rid of the
system because you're gonna have to do
some things by 2028 one is you're going
to have to use older people and the
current systems you have by and large
make it impossible for you to
effectively leverage older workers I'll
talk more about that in a second
secondly you're gonna have to give young
people a lot of variety a lot of
challenge and the systems you have now
are going to make it really tough to
keep doing that and a lot of people want
more flexibility and the systems you
have now make that tough so this will
help address those kinds of issues
organizations around functions and
geographies we're brilliant
in an industrial era genius but they're
not right for today for companies where
knowledge is going to be the king so
this is an example that talks about the
fact that people are going to have a lot
of years in retirement most of you
probably have read the wonderful book by
my colleagues Lynda Gratton and Andrew
Scott about the hundred year life well
you guys are going to have a hundred
year life
how do you feel about that good good I'm
glad well I have a little bit of bad
news not all of you are gonna make it
and I can't tell you which ones are but
the good news is all of you should plan
for it every single one of you should be
thinking about a hundred year life and
what would I do with that glorious 40
years how am I going to do it you guys
probably aren't most of you old enough
to have have your kids leave home but I
remember when my kids left home I was
about two months into it my after my
second child had left and my assistant
said to me Tammy you have got to tone it
down you are way too happy I mean the
flood of energy that you feel is
unbelievable so people want to do things
in these years 70s and 80s they're gonna
be physically fit ready to do stuff and
you have to be ready to use them but
they don't want to work 60 hours a week
in the jobs that you currently have
constructed that's out so you've got to
construct new jobs they want to
decelerate a little bit over time they
want to do meaningful work but on a
decelerated basis and the second key
point is birth rates are falling so
we're living longer and we're having
fewer kids let's just pause on that to
make sure we're all aligned why are we
having fewer kids thank you
that's the honest answer that's
absolutely the honest answer what are
children in an agrarian society workers
right if you are going to create a
balance sheet where would we classify
them no come on
think agrarian agrarian their assets in
an agrarian society right okay then you
jumped ahead so in an industrial society
they become liabilities right children
shift on the great balance sheet of life
from asset to liability and as that
happens we have fewer I say that simply
to point out that there's no expectation
that all of a sudden we're going to have
more kids birth rates fall in a pretty
predictable way as economies
industrialized so the logical
expectation is we are going to be below
replacement levels in terms of numbers
of kids in almost every part of the
world now what this means is if you are
this poor little chap down here five
years old at the bottom of this chart
what kind of a career do you have you've
got all these old peoples clogging up
every conceivable interesting seat in
the corporation that means to give that
five-year-old an interesting career you
have to be able to move them laterally
you have to give them interesting
projects interesting challenges because
you will not be able to promote them to
give them enough challenge and variety
and by the way the UK has it better than
many European countries here by the way
it's Germany and as you can see if
you're working in Germany you've got a
really tough challenge
lots of people clogging it up there okay
so you've got to create project-based
work the title should be time bound they
should be action-oriented in other words
you're responsible for launching this
product by such and such a date you have
to create bite-sized work options in
other words create those projects start
doing that today some projects they'll
be short and some frankly will be very
long if you're gonna send a rocket to
Mars I would expect that'll take you 10
or 15 years but some people will take on
multiple projects at a time so imagine a
world where you put out a set of
projects and I think to myself well I've
got a lot of time and energy this year
the kid just
for college so I'm gonna bid on three
really complicated projects or I think
to myself got a lot going on I'm going
to go back to school get a degree you
offer the projects I'll bid on them now
here's the kicker point number four pay
me just for what I do by 2028
a lot of the work that goes on in your
organization is going to be paid for
based on outcomes what does that mean
well it means that compensation is going
to be tied to the project and you're
going to say something like this project
pays this amount and I'll pay you when
you do it so if I've been on three
really difficult projects I know that I
stand to make a lot of money that year
if I bid on one simple project I know
that I'm choosing to be to make less
money that year my choice so individuals
bid on projects now why is this
something that I'm up for well a lot of
what I help my students in the classroom
the executives in the classroom think
about is how things have changed over
time and what we can learn from history
and one thing I feel very strongly is
that we can draw an important lesson
from looking at craft industries in fact
I would argue that the way they thought
about structuring compensation for craft
workers is a reasonable model for much
of the work that we're doing today think
about these silk Weaver's famous in
Spitalfields here in the UK the only way
that somebody could determine that the
silk was worth a lot of money was by
what they called the feel of the cloth
that's where the expression came from so
they would feel the cloth and see the
beauty of the silk and decide to pay
large amounts for that particular output
so think about the knowledge work that
goes on in your organization today how
much of it
is work that what you can really tell
its value is after it's completed after
you've seen it after you've read it
after you've had an opportunity to
interact with it in some way I often say
to people hey you're welcome to come
watch me write a book I don't know what
you'd learned and a lot of the work that
goes on in your organization has that
component it's no longer about a
standardized process as in an industrial
world and it can't be judged based on
conformance with process standards these
two ideas by the way which came out of
Ford and Morris Motors and others were
genius absolute genius for a world where
the basis of competition was quantity
quality and costs these guys nailed it
how to do it
standardize and judge conformity to
standard that's brilliant and where you
still have parts of your business where
quality quantity and cost is what you
want keep right on doing this absolutely
do it but where the work has a different
characteristic don't try to force fit
these rules into this new kind of work
look for ways for quality whether it's
satisfaction efficient use of resources
novelty whatever it is that you judge
quality by can only be judged on
completion and think about paying on
that basis and by the way stop worrying
about hours the silk Weaver's didn't
care how long it took the women to weave
the silk they paid by the bolt
regardless of the number of hours
that's very analogous to much of the
work today and one more why I'm going to
add for this one frankly the whole idea
of managing work-life balance is absurd
I have had it with this concept I've had
it with talking about it and I think
it's time for companies to get out of
the business
it's not your job to manage my work-life
balance it's your job to give me enough
options that I can manage it myself and
that's what you should be thinking about
with your people turn the issue of
creating work-life balance over to the
adults that work with you give them
options give them flexibility and
choosing or bidding for assignments or
projects based on their personal
interests and aspirations and just get
out of the head-scratching lis
complicated problem of how are you going
to correlate pay and flexible
arrangements done with now you want to
think about a variety of arrangements I
think a lot of companies in the
transition for example will have a base
salary but your bonuses will
increasingly be based on the complexity
and number of projects that you
successfully completed over a period of
time that's how you'll begin to pay
people and I think over time we're going
to see those differentials
increase and more and more of the work
we do will be based very much on
completion you notice the word up there
perhaps hyperspecialization this comes
from one of Michael's colleagues at MIT
Tom Malone who I adore
I think his writing is fantastic and Tom
argues that there are a lot of people
out there who want to do what they do
best they want to hyper specialize and
that in many cases in companies we're
asking people by giving them these broad
roles there's about 20% of the role
where it's really up my alley
but there's 80% that's kind of you know
stuff I am not maybe the best served
person to do and so getting more on a
project basis allows those of us who
want to hyper specialize to begin to
focus more on what we really do well
fifth point you need to award badges you
have to hand out a badge now what do I
mean by this companies are going to
compete for talent based on come
valuable credentials we talked about
purpose and I absolutely believe in
purpose it's one of my slides as well I
do think you have to have a good purpose
but I don't actually think that's going
to be the bottom line decider I think
the bottom line decision is going to be
my sense of your impact on my asset
value so it's going to be the idea that
if I work with you for a couple of years
I'll be more valuable in the market or
I'll have more options I'll have more
choices I'll have a broader network in
some way my asset value will have been
enhanced why is this important well
because basically the idea of security
has changed if I talk to a 60 year old
and ask them about security most 60 year
olds are going to talk about one company
one job a pension etc that felt secure
if I talk to a 20 year old and start to
mention one company one job a forty year
off pension I think I'm insane that
doesn't feel secure and if you say to a
20 year old what's secure they're gonna
say capabilities experience skills
knowledge networks that's what counts
and so how we get security has changed
very substantially young people today
yes they want to feel secure but they
feel secure because they feel better
able to compete on the talent market it
means that our career paths have to
change I frankly love the blue career
path most people my age did the hiring
got to the top the more power the more
prestige that's a classic baby boomer
career path but younger people today
want something much more like the orange
one where they feel like if they do this
job well there'll be six or eight
different directions they could move in
they're not boxed in they're not limited
to one future
erection but they can go in many down
the road by the way a number of the
companies that we interact with here at
London Business School are starting
they're creating commercially valuable
credentials what does that mean well
first of all it means you've got to be
best known as a source of talent for
something think about General Electric
and their reputation for developing
leaders in the past what are you known
for what would I go to your company to
raid you for because you're world-class
at developing somebody with that
capability maybe with others you want to
get together and agree on some tasks
specific credentials in other words I'll
just pick one and I know there are
standards for this but let's say for
example that several of us got together
and said let's agree on the capabilities
that would be embodied in the project
manager one badge and the reason we'd
want to agree on that is because frankly
you're gonna hire my project manager
ones and you want to know that they're
what standard their meaning and I'm
gonna hire your project manager once and
I want to know that you've certified
that they meet a certain standard you've
got to get over this idea of hiding your
talent the future is about labeling your
talent now you've got to also develop a
rapid ROI approach we had a group in
just last week for executive education
who said our strategy is we train people
for four years and expect them to stay
for 15 more to pay us back it's not
working I said yeah no it's not gonna
work you got to think in two-year
increments that's kind of my rough rule
of thumb so you should train somebody
and get fully paid back to a point that
you're happy about it within two years
so in two years train me get paid back
and give me a credential now I might
stay with you for many many many years
but it would only be because you had a
continual flow of those badges that you
said to me okay kami after two years you
were in this batch if you stay two more
you'll get a bigger badge and if you
stay two more yet you'll get yet a
bigger badge and obviously I'm using the
word badge a little facetiously but I I
do think that's how you want to imagine
it again we had a group in recently that
decided based on this kind of
conversation that they're actually going
to financially calculate the expected
value of two years in their firm on the
open market now of course for the very
best of those young people they
anticipate two years down the road
saying and if you stay two more years
your value will be Z so they're going to
keep the story going but they're going
to attract people based on talking about
market value decisions about what job to
take will increasingly be made based on
asset not cash and that means you've got
a switch from thinking buy to sell
you've got to think about advantages of
the role what does it teach how does the
experience increase the asset value will
they have more or fewer options if they
take this position and importantly how
well-respected are we our people Wow
if they find out that this person spent
two years with us and if the answer is
no that is an immediate priority for you
to work on you better be really
well-known for something where I'm
totally blown away that somebody spent
two years working with you
Sixpoint you're gonna need a community
so you're gonna need some full-time
employees I totally believe that back in
my example of let's say you had a 5,000
employees today I could imagine you'd
have 20 or 30,000 community members in
the future and those are the people you
need to have your eye on HR will no
longer ten years from now be about
managing
employees it will be about managing
communities your job will be to make
sure that you've got this community so
that when you want to tap into them they
are signed up and ready to go why well
because you're gonna need the very best
talent for every job I think the most
relevant measure in the future is going
to be fit for purpose basically I'm
totally tired of the measure retention
rates I find that whenever people say
that my instinct is always to say well
okay so you've had somebody stay with
you for 29 years who's been mediocre I
mean how do I know they've been good
what I really want to know is they've
been the best person you could tap into
what kind of fit for purpose metrics do
you have and so human resources has to
begin to think like a talent agency for
the film studios do you remember back in
the 1920s and 30s film studios actually
ployed the actors and actresses people
like Marilyn Monroe were employees
full-time employees which meant that
when a studio went to make a movie they
didn't have a choice they had to have
Marilyn Monroe play every single role
whether somebody else would be better or
not that's the situation you're stuck in
and you got to get out of it that's not
to say Marilyn Monroe isn't great but
she's not great for everything and
you've got some great employees but
they're not great for everything so you
need to begin to think about how do I
pull the best people for what my
situation is facilitate
hyperspecialization and think like a
platform again
bitesize codified curated rated all of
that becomes your job in terms of
effectively deploying people another why
of course is the technology this one's
pretty obvious it simply allows us to
tap people anywhere so we need to expect
that people will work anywhere anytime
this story about Schneider Electric with
people all around the world
that's a big
part of what you'll gather if you think
in this community way and here's one of
the big benefits innovation I've done a
lot of work looking at innovative
companies and if I had to pick one
definition of innovation the simplest
definition I would say it is combining
two ideas that have never before been
combined now think about that for a
minute there are two ways you can do
that
I've actually studied major inventions
and it turns out there are inventions
that were created by one human being but
those human beings tended to have really
eclectic backgrounds they studied
multiple disciplines they had very
different varied experiences and somehow
out of this can of worms that runs
around in their minds they were able to
pull out these different ideas and fuse
them together that's not sustainable in
companies in companies the sustainable
approach to putting two ideas together
is to have different people with
different ideas and let them talk to
each other and to have a community where
you're not getting stuck with having
just the same people talking over and
over but you're bringing people in at
varieties and infusing new scents and
new thinking into projects so
communities play a very important part
in one of the most important challenges
we face which is to be innovative what
do you need to do well you've got to
embrace a wide range of people wide
range of Ages backgrounds all kinds of
things and find a way to make an
inclusive community where they're all
listened to seven so engagement has
probably been either your favorite word
or your least favorite word for the last
decade or so it certainly has been
something that has dominated the HR
community I've done a fair amount of
research on engagement and here's what I
can tell you the companies with the
highest level
of engagement our weird that's the truth
they are not average they are
idiosyncratic they have things they do
that are unique to them they don't try
to be all things to all people
in fact if I can find a senior executive
who will say this not everyone would
want to work at my company I know I'm in
I'm home free because this is a company
that's begun to have a feel for what
they're good at and what they're not
what they offer and what they don't and
that's the secret to engagement it's
about really conveying the uniqueness of
your work environment something that's
differentiating and meaningful a brand
that will extend between and among the
episodes of work why is that important
well the panel before said it we don't
all want the same things from work
that's quite clear there are lots of
different things some of us really want
to get rich that's highly important I
did some work with a government agency
not too long ago and just before I was
going to go on they came up and said
Tammy our salary cap has been raised by
five percent and I said okay well that's
nice but I'm now going to go on and say
that doesn't matter and my point was I
doubt any people in this government
agency had chosen to work there because
of money I mean frankly if they had you
got a whole nother problem they may have
chosen security or they may have chosen
impact but the thing that grabbed him
was not I'm gonna get rich working for
this government agency you've got to
understand what is it that grabs people
in your organization did they come for
the money did they come for the security
did they come for the community or the
impact did they come for the social
environment what is it and the model
that we teach and use is called purpose
promise delivery and the most important
place I think to start is in the middle
with
promise you've got to understand what do
people have in their heads that they
think you promised when they joined your
organization and then the second
question is are you delivering it and if
that's not possible the third question
is how can you re articulate your
purpose to send a clearer and better
signal about the promise that would work
for you and by the way this is equally
applicable to customers and employees so
you must have a differentiated promise
and it must be expressed through a
compelling purpose okay do what robots
can't do that's pretty obvious I guess
but the point is I am an optimist
Michael said he was almost an optimist
or a partial optimist I'm a pretty big
optimist I think there's going to be a
lot of new jobs created as he said
robots are going to have to be
calibrated and worked with but they're
going to be different jobs and robots
are going to do my job and they're gonna
do a lot of your jobs and we've got to
accept that and get ready for the future
I did some work looking at different
types of knowledge work and trying to
understand where robots would have the
biggest impact and when you look at
things like sharing expertise duh I
think robots will do a lot of that when
you look at things like assessing and
recommending like doctors and lawyers
robots are gonna do a lot of that but
when you think about deciding that means
choosing among equally viable or equally
rational options things about values
choices I don't think they'll do that I
think will have a role there and when
you think about relationships
connections this whole fundamental idea
of how you bring things together for
innovative insights I think will have a
role there so those are the kind of
things that I would suggest we focus on
developing in our people and in
ourselves as we get ready to work with
robots down the road
now everything I've said in some ways
hinges on this and I almost thought boy
I shouldn't start with this one maybe I
should have but I loved Heinz's point he
made a point in the panel that you have
to focus and when I look back on history
I want to say two things one is any
notion you have that we're living in a
time of unprecedented change I don't
agree with personally I think it's
rubbish when I look back in history at
the change that occurred in the 1600s to
the traders when the Royal Exchange was
built here in London and trading moved
out of their homes and into a central
location boy it sure feels very similar
to the internet in terms of the change
in information asymmetry when I look at
the silk Weaver's and the onslaught of
mechanical technical capabilities it
feels a lot like the looming sense of
robots in AI when I look at automobile
manufacturing which by the way all
through World War one was done by hand
and craft based assembly and how it was
decimated in just a couple of years when
the assembly line came on hundreds
hundreds of automobile manufacturers out
of business overnight when Morris and
Ford put in their assembly lines and
whose one the people who figured out the
best new business model the best new
approach the best new leadership the
people who invented a new way to do it
and they did it by focusing on the most
important thing Morris for example knew
that what he wanted to do was make a lot
of cars at a consistent quality and he
put his brain to thinking about all the
organizational and management processes
you could imagine to facilitate that
single goal now did he have other goals
like you know design and you know
marketing and all that stuff yeah I'm
sure he did but what he did really well
was quantity quality and cost he focused
on that and that's your challenge today
are you gonna still have to make stuff
quantity quality costs yes some of you
many of you will but delegate that
delegate that down to the next level and
make sure your senior leaders are
focusing on the most important question
which is how are we going to mobilize
intelligence what do I mean by that well
I mean a lot of things I mean innovation
I mean figuring out how to collaborate I
mean figuring out how to sense figuring
out how to tap the right resources at
the right time how to disaggregate the
data into ways that are valuable but I
firmly believe that the highest value in
your business will be your ability to
mobilize intelligence why do I say that
well I think it's really this century's
opportunity to excel so here's another
of my heroes this is Peter Drucker I
actually had the great privilege of
knowing Peter what a guy unbelievable
and this is something he said 30 years
ago he said he pointed out that the big
deal in the last century was to do
manufacturing productivity but thirty
years ago he told us that the big deal
in this century was going to be about
knowledge in other words we probably
more or less have wrong what we can out
of manufacturing efficiency the idea
that an iconic company will emerge
because they figured out how to do
quantity quality and cost step change
better is unlikely impossible maybe not
impossible but unlikely the sense that a
great company will emerge because they
figured out new ways to leverage
intelligence that's where the
opportunity lies and here's the thing
about it and the panel actually used I
think almost exactly the
it's discretionary people have to want
to do it they've got to think and so
here's the really scary thing your
future depends on something over which
you have no control it depends on
people's willingness to invest
discretionary effort and to think you've
got to accept that and that brings me to
my very last point which is what do we
do as leaders so most of what I've
talked about up to now is about changing
the organization how do we change
ourselves well if you look in the
dictionary you would get a definition of
a leader that kind of feels like this
red fish out in front leading the way
everybody's in line behind them they
know where they're going got it all
sorted out I don't think that's
leadership today and I think that's a
good thing because I think that's hard
to do I think leadership today is about
creating context it's rather than being
out front it's about creating an
environment for others and why do I say
that
well basically common sense practicality
there's simply no other way to mobilize
intelligence because it can't be forced
you heard Michael talk about the clevers
if you tell a clever person I insist
that you innovate that's gonna go over
like a lead balloon yeah it can't be
required oh you could hire me and say
kami I've hired you to innovate I would
say to you hmm
innovated really hard all week long I
didn't come up with anything but boy I
gave it my best what do you know you
have no idea you won't even know if I'm
giving it my very best shot you can lead
that horse to water but you'll never get
them to drink so what can you do a
leader can create a context you have to
move from the idea that leaders motivate
talented people by dangling a carrot to
1 that says leaders
create an environment where talented
people choose to work that's your job
create an environment where talented
people get excited and choose to be part
of it and here are the four things that
I believe are critical to that the first
is as leaders you should be disruptive
leaders jobs are to ensure that there's
a continual infusion of fresh air in the
organization there are lots of ways you
can do it send people out bring people
in whatever but be disruptive a leaders
job is not to have the answers it's to
have the questions you've got to ask
great questions and by the way how do we
increase sales by three percent it's not
a great question that doesn't qualify
great intriguing questions that I'm
interested in solving that's what will
work leaders need to connect people and
make it easy for people to connect you
can't force me to collaborate any more
than you can force me to innovate but
you can make it easy for me to do it
when and where I choose to do it and
that's a leaders job and finally you
have to engage me through a compelling
purpose just as the panel said you must
have a purpose that leads to a promise
and you have to make sure your
organization delivers a hundred and ten
percent
on that promise that's a leaders role
today that's what we teach here at the
school those kinds of skills and
characteristics as we think about the
future and I appreciate all of you
listening to me race through these today
thank you
[Applause]

---

### Michael Davies - Work Inc. 2028 | London Business School
URL: https://www.youtube.com/watch?v=PqwGSy1AMrU

Idioma: en

I find myself in the slightly strange
position of wise an engineer giving a
keynote an HR strategy forum because
technology innovation AI robotics I'm
going to try and convince you that
actually some combination of these
issues is the most significant challenge
to what we do with human resources and
people my background is sort of rather
than rooted in being a technologist an
academic who's become really interested
and an entrepreneur who's become really
interested in the impact of these
technologies you're all probably aware
and maybe I should be taking bets or
doing a quick straw poll there are a
wildly divergent perspectives on the
future of work for seeing radically
different scenarios on one hand we've
got sort of the the radical techno
optimists of Silicon Valley going we
don't have anything to worry about
because prosperity will be so Universal
by 2029
that the world will be a seamless and
wonderful place on the other hand we
have people like Pedro Dominguez and a
whole row of the people saying actually
it's gonna be a nightmare
ai will take our jobs and all and become
our robotic masters within the next
decade I'm gonna try and suggest what I
think is actually gonna happen but I'm
also gonna pick up what I think is a
critical point which is what actually
happens depends upon a whole set of
choices that we make in which the people
in this room have an important role to
play change is happening no matter what
I find myself using phases like it is
inexorable but the outcome is not
inevitable and only inevitability there
is a great kiwi phrase which I hope
translates well cry me a river I'm sorry
about this but there's nothing we can
really do about it
but how it happens is still very much
within our control let me set the stage
it's just ten years since its the advent
of modern smartphones and we have made
it incredibly easy from almost everyone
to access essentially all of the world's
information and to connect in rich ways
using video to collaborate and cooperate
and communicate with all sorts of people
2008 is the iPhone 3G and some of you
may remember did anybody else have one
of these HTC the original Android phone
they were so confused and who remembers
this wonderful dice we don't know
whether it should have a touchscreen or
a trackpad or a keyboard so we'll give
it all of them but it was important
because people talk about technologies
being exponential I actually think the
key thing is that this made it easy can
you remember the first time you tried to
browse on an iPhone that's all like this
just works you just touch things it
works and that led to all those videos
about three year olds playing with them
we now have the problem as I'll come on
to in a moment of four-year-olds
ordering Amazon services on your Alexa
which happened to me the other day but
critically what happened is we've
dramatically transformed the power of
the network at any given moment in 2008
just ten years ago we only had fewer
than 1% of the world's population richly
connected to each other at any one
moment and you see the statistics about
what the penetration is but the
interesting numbers I think are what the
proportion of the population is relative
to people of working age because if you
look at demographics you've got to
remember that in the developing world
there are a lot of very young people and
there are a lot of very old people who
well as fewer and fewer of them who are
analogs who are never going to touch
digital technology they're either dying
or converting and the two critical lines
here are this orange line is total
population this is the number of people
actually working so we already passed
the number there are more smartphones
that are people working well talk about
some of the other impacts about about
technology and passing but actually more
smartphones in some parts of the world
than there are people who are literate
so we have a technology which has only
been around for 10 years and has already
passed the technology which has been
around for 600 years five years ago
something happened that made me really
sit up and pay attention we were doing
some work on the future retail for
Samsung and Verizon and I saw the
fastest I spent 25 years studying how
consumers respond to new technology and
I saw the fastest change that I have
ever seen in my career the number of
Americans who were using smartphones to
make comparison shopping purchases went
from fewer than 90 percent in less than
two years fewer than a fewer than 9% to
more than 90% the whole market flipped
and the way in which people did things
in retail stores went from oh look what
a nice television
tell me about it mr. salesperson okay
I'll buy that to people doing this
coming up getting down on their hands
and knees and peering at the back of it
to read the model number and then
pulling out their smartphone to read the
Amazon reviews and do the price
comparison and it burnt down a staple of
us anybody here from the middle of the
US anybody spent much time in the middle
of the US this was a good thing for you
because you used to be discriminated
against prices in the middle of the US
used to be systematically higher because
it was a very long way between stores
once you'd gone to the problem of
driving 40 or 50 miles to empty corn
fields to a big-box store I'm not gonna
drive 40 miles in other direction
and it eliminated the price
discrimination was going on we empowered
consumers to use information to compare
quality price and availability and I
started being in really intrigued after
25 years working with the technology
companies on how they create stuff to
focusing on the broader economic and
social implications in parallel with
that we were also working intensely on
how technology would reshape the world
of knowledge workers actually anyone
here from Thomson Reuters but this went
back about five years to doing some of
the earliest work on a eyes impact on
knowledge work and that led to my sort
of focusing about what is going on with
this combination of technologies and
what are the broader social and economic
implications now this list has shifted
when I began I was more focused on
smartphones and broadband and I had a
different view of what the problems were
when I started writing and thinking
about this was the back here and I
thought this was an access problem about
whether or not enough people had access
this information over the course of
trying to write about over the last two
years that problem has gone away so I've
had to change the title of my book he
used to be everyone gets a wand but it's
not a very interesting story if everyone
got a wand so what is happening is rapid
innovation of in the coevolution of and
the adoption diffusion of five key
technologies are driving a radical and
disruptive shift the first big takeaway
is these five really matter and it's all
of them and it's them in combination so
it's not just AI it's not just
smartphones it's when you put
smartphones which gives you access
together with the cloud which enables us
to glue stuff together with AI and
robotics and the Internet of Things and
you get a much more significant
collective impact I'll highlight a
couple of things smartphones are
transforming customer experiences
camping likes Warby Parker Sephora
bonobos use them in a way that this
emerge from some empirical work that
we're doing to try and figure out the
state of the art was to shifting this
from all this discussion about
omni-channel to actually anchoring
everything in your smartphone experience
so the physical store just becomes a
place where your smartphone works better
and one of the most interesting ones I
see is that Warby Parker us online
company if you walk into and they're
physical stores they can't serve you or
interact with you if you don't have the
app and you haven't signed up and they
are now at the point where they're
seeking FDA approval to become an
optician a fully blown opt-in with the
only whole back being it turns out that
there are a couple of medical conditions
that opticians pick up by looking at the
retinas of your eyes diabetes high blood
pressure and a couple of others and
making sure that they can capture those
because actually they turn out for those
of us with glasses and we actually get
diagnosed better and earlier than the
general population because their
optician as you will may all recall
comes in and peers your eyes and says
doctor about that high
blood pressure or whatever and within
three weeks of the launch of the iPhone
X they actually had an application out
there which would give you a customized
AR view of your face with your
customized glasses on it so you could
see what it looked like cloud services
most you got I know what cloud service
is it's Dropbox it's very store stuff no
that's actually not the important thing
well it's happened over the last and it
really is just the last two or three
years that this has happened is that
cloud services which used to be all
about doing engineering the software
engineers have figured out how useful
they were and be doing a long time over
the last two or three years there has
been a dramatic shift and there was an
inflection point somewhere about two or
three years ago in which the growth went
up and suddenly went to about five
percentage points per month that's not
5% a year it's 5% a month is the rate at
which and smaller medium businesses the
adoption or usage of cloud services is
accelerating business is built on i/o TR
reshaping consumer behavior another one
maestro poles who here lives in the UK
and has kids between the ages of 17 and
21 how much are you paying for car
insurance way too much so like for those
you don't know in the UK that runs
hundreds of pounds a month thousands of
pounds a year because the UK is one of
the few places that has the good sense
to actually price insurance for young
men driving at the real cost of young
men driving and they're basically
walking talking running driving suicide
machines this is a fascinating story a
company called track Global figured out
that they could use IOT to measure
monitor and shape consumer behavior and
they spent nearly two years trying to
sell this to every incumbent insurer in
the UK all of them went no no nobody
wants it we send out policies and we pay
claims or dispute them we don't have a
department that actually interacts with
customers let alone somebody who's gonna
do a hi and figure out how we run
experiments on people sounds vaguely
moral to me
the reality is fed up with this they
actually decide to launch their own
insurance company they've got other
people to underwrite it it's pay as you
drive
they make drivers over 40 percent safer
and that gives them dramatically
superior economics they're saving lives
and progressively saving money in the
same process what then happened
fascinating me was a couple of years
into this this business is less than
five years old and at this point even if
you don't know you may be well might be
buying services from it there's a couple
of years later and hold this thought
because I'm gonna come back to the
implications of this the incumbent
started coming to them and said hey
could we borrow you all by your service
and put a white label on it and sell it
under our brand what a carrot do ya I
like that because actually we're the
technology guys and we'll take your
distribution network and we'll take your
relationships and we'll focus on doing
this okay and reshaping on demand in the
car ownership model AI has become
pervasive nearly half the households in
the u.s. now take it for granted but on
a daily basis you can talk to an AI and
there was this very sharp inflection
point between the black friday of
thanksgiving in which the US installed
base took off it's now more than 50
million and it's rapidly approaching 50
percent of US households so that ship
has sailed there is an assumption that
we take it for granted my four-year-old
actually is capable of expressing
opinions which goes something like we
actually had a giba robot after one
point on earth and my nanny said well
gee Bo's creepy and my four-year-old
said and she's stupid as well because
there's a relative comparison between
and I like Google now but the music's
terrible I really have a couple of these
sitting on our things critically is well
I want to challenge some of your
assumptions about what the art of the
possible is well AI
is now no longer just for admin work in
the back office it can now perceive
emotion and portray it so convincingly
that you will not be able to stop
yourself from responding to it as though
it was real cogito health which was
originally developed to monitor how
veterans with PTSD interacted with cool
and support lines now why do you really
care if a veteran with PTSD is calling
up customer service in the hospital
system you really want to be able to
tell if they're anxious or angry and
actually AI is better at doing that than
people are in general very highly
trained emotionally connected people
people not like me at all I can barely
read affect are really cogito is better
at doing that and interestingly it takes
a really long while to build that stuff
in the health sector so they have
pivoted into two businesses one is doing
stuff for health and the other is doing
stuff for improved customer service at
the other end of the spectrum in terms
of petraea in closing the loop there's a
new zealand-based company called sol
machines which builds digital humans
digital avatars whose faces aren't just
done by doing film they actually drive
the whole thing with a neural network so
the emotion is so realistic that it will
trigger in you all those cues that that
you don't really know are there and
interestingly they've just announced a a
partnership with the Bank of Scotland in
fact this morning I see there's an
announcement about their partnership
with daimler-benz it turns out that by
the way it seems that for many people
under many circumstances a really well
informed robot which you know is
simulating emotion is actually better
than dealing with a person who's reading
from a script and trying to sound Siri
sincere hi i'm helen from customer
service and i'm delighted to be able to
help you today what is your problem yeah
actually it turns out the lack of
integrity
that's involved in that actually pisses
people off and they'd actually deal with
the robot okay I know you're a robot but
at least you're not trying it on and I
want however to highlight that despite
the massive amount of hype that you see
AI and in particular machine learning
without getting technical the primary
form in which is being deployed and
developed today still has some really
profound limitations now it's getting
really really really good really fast at
doing routine narrow stuff but you can
still fool it and it has profound
limitations you probably all think
that's a turtle Google's image
recognition algorithm thinks it's a gun
so you can probably just read it but it
says rifle shield maybe a revolver
that's because they were a particular
way they work with statistics if you put
the right statistical cues in the image
you can completely fool them the same
applies to all sorts of other data so
really profound limitations so what is
AI actually really good at it's really
really good at narrow and routine tasks
it's really good at statistics where
you've got history and there's not a
change but it can't actually build a
causal model this is if I'm feeling
provocative sometimes in discussions
amongst my AI peers
I mean bizarrely I find my career sort
of going full arc so my original the
first decade of my career or so was in
AI and robotics I'll tease them go yeah
all you're doing is sophisticated
nonparametric statistics with large data
sets yeah whatever okay you do it a
funky cool way but it's basically
statistics we don't yet have a modern
machine that can match the ingenuity of
a three-year-old so when you think about
who here's got toddlers other than me
you think about the crazy your
two-year-old does robots are
significantly dumber than that they are
completely incapable of generalizable
learning or of dealing with an out of
context question because they don't
actually have an abstract representation
of the world
robots are also changing dramatically in
unexpected ways this is not about robots
in factories this is about robots that
are autonomous and collaborative working
alongside and amongst us they're now
becoming economically viable for even
basic physical work
my favorite is these little scurrying
things which have any of you have ever
been in a market garden or nursery I'm a
by harvest automation and they ought to
make this literally back-breaking job of
bending down and picking up a plant and
moving it a little bit further apart as
they grow there is a lot of intense
routine physical work which used to be
paid less than minimum wage because it
was done by people who are illegal
immigrants and had no other options it
can now be automated economically and
tools such as Baxter which sit next to
you and rather they're having to
formally program them you train them by
showing them what is you want to do and
then just ask them to repeat the task
these technologies are and forgive me
I'm going to use a couple of important
technical terms from sort of the
technology and effort they are a
platform and I'm going to use the word
platform in two senses that is what the
economists would call a general purpose
technology as a platform they do two
things you can think of them as sort of
those five technologies together a
really set of Lego bricks which you can
put all sorts of things together with
that's one meaning of the word platform
and the other meaning of the way which
platform gets used over and over is
connecting people or connecting people
and computers or connecting people and
AIS in both senses of the world these
things are an a are a general purpose
technology and as I got into this I
stopped focusing on the technologies and
I started trying to summarize that's
crispy and clearly what the broader
economic social and political impact is
we started with this idea of empowered
citizens we're capable now of making
well-informed decisions through a wealth
of information both because they have
access to lots of information and
because they can collaborate and
communicate with all sorts of other
people at a time if you're in doubt ask
the question on your iPhone like call a
friend
call a friend is always available the
second really important one which we're
going to have a big impact on the world
of work is accelerated innovation the
pace at which you can do things under
new ways of working is dramatically
quicker and the third is what I've come
to call Unleashed creativity and this is
where we start to focus in on the world
of work automating the routine and
cherishing the creative there is still a
vital important and central role for
people to play in this because AI and
all these other stuff still has some
really profound limitations yes it's
gonna change the economy and society in
some ways but there's still a vital
place for people how far does this go
this is one of my favorite examples five
years ago I got something badly wrong I
thought the impact on smartphones would
be limited to big-ticket items that were
easily compared like televisions or
things like that a very objective I'm
spending several hundred dollars I'll go
to the time and effort ah I can draw a
direct line from smartphones to liquid
packaging for food because we had trace
phones Harry because it's got easier we
took we're to make reservations so we go
out more that's accelerated through
delivery its accelerated grocery
delivery we've also seen for a whole
variety of interesting food startups
word-of-mouth discovery becoming easier
that has reduced dependence on stores
shelf space and packaging and there is a
direct impact that the smartphone is
having as far afield as liquid food
packaging because it's become less
important what it looks like you're
probably all familiar with the
manifestation of this in in Amazon's
no-nonsense packaging what do I care
what it looks like because I'm never
going to see it on the Shelf it's just
going to be shipped to me and I'm
comparing it on the basis of the review
so when I explain to people in the
packaging industry that the impact that
they're seeing is the fault of the
smartphone I'm initially net with
incredulity and then I walk through
through the steps in the logic it's
transforming it way beyond digital how
we shop for those who you don't know and
are curious about the impact that this
has there's a great William Gibson quote
which is the future
already here it's just not evenly
distributed yet and if you want to know
what the future retail looks like it
looks like the US where there's a
Wikipedia article on it now called
retail apocalypse and the number of
people walking through malls in the u.s.
is just about halved in the last three
or four years we've had 17 bankruptcies
in 2017 of more than a billion dollars
largely driven by tightening pipe price
pressure comparison shopping and some
really dramatic macro shifts in people's
behaviors it's having a huge impact on
mobility this is a span of just 2014 I'm
sorry you lost something 2014 to 2017
ride-hailing over three years went from
eight percent of urban of business
transportation to sixty percent o the
taxi industry went down by a factor of
four and Car Rental which is peripheral
haft
inside most companies planning cycle
it's even transforming businesses
traditionally thought of us way beyond
the tech sector what on earth could
technology possibly have to do with
where I choose to lay my head at night
well Airbnb we talked about insurance
it's having a big impact on how we
consume and use healthcare I changed
this slide in last 48 hours because the
set of news items I saw about anybody
here a GP at hand user anyways can we
see a show of hands
like you've used it already this service
has only been out for a few months and
these are five surgeries in London one
of them in its first 17 days triple the
number of patients it was supporting so
a really big shift in primary care
happening right here in London now
through GP at hand it's also driving a
really major shift in the world of work
well the tech Titans are growing rapidly
we're seeing an explosion innovation
jobs in tech startups but there's two
big questions there's early indications
of growth of jobs in tech enable
businesses but there's actually a great
deal of uncertainty about how
established businesses are going to
adapt
let's pick up that question this new way
of working includes very different
arrangements for when and where people
work so we talked about this is a
platform a dramatic growth in the use of
this GPT to connect people with new
works many more people either in the gig
economy and it turns when you drill into
the numbers that the overwhelming
majority of people who already in the
gig economy are in it because that's
what they prefer and they're actually
happier working that way yes there are
issues at the margin but in most
people's case it is a conscious and
deliberate choice because the
flexibility it affords to organize their
work around their family their life and
other commitments it's something that
most people when who are in routine jobs
with fixed hours value more highly than
almost anything else and it doesn't have
to be done even in economically
rapacious places like the US hello
Alfred and people like that have
demonstrated that you can do this while
providing good benefits and the support
of social network without having to do
it on preneur econ tracked it is enable
the emergence of what I've come to call
a new born digital way of working
that's just more effective than
traditional approaches when I see more
effective there's an interesting shift
the technologies have become
sufficiently powerful effective and easy
to use that they're eroding all the
economies of scale so what are the key
elements of it for things relentless and
ruthless automation of routine tasks one
of my grad students MIT did I did a
bunch of work on how the tech Titans
have stayed fast while growing big what
the answer is automate everything get up
in the morning if you did it three times
to figure out a way to script it to
automate it to get a robot to do it
that's what you do don't worry about the
job losses don't worry about the big
business case there will be enough
opportunity if you just keep doing that
secondly people looking much more for
purpose creativity collaboration and
agility in their work I'll come back to
the agility the ability to actually get
stuff done rather than fighting an
uphill battle gates bureaucracy becomes
a really important
permanent of where people will choose to
go work thirdly flexible working
arrangements in all sorts of different
ways and lastly by anybody who's in the
Vegas bid enlightenment support for all
employees to pursue lifelong learning a
theme that Linda's going to pick up at
the end of the day so what does this do
well it improves productivity improves
job satisfaction accelerates innovation
traditional workplaces are just candidly
nowadays less innovative and productive
this will be compounded as they lose the
war for talent because if you've got an
environment which looks like one on the
left you get to recruit retain and keep
the good people and that will create a
very strong positive feedback loop the
good people will go to the places of the
suit they're working desires
born-digital insurgent businesses thrive
in this environment and critically they
can overcome incumbents economies of
scale and scope if you're a large
incumbent in many cases all of that
money you spent on building
infrastructure and defining processes
and optimizing and quality is actually
an encumbrance now rather than advantage
because I've got direct access to
consumers I've got cloud access for
modular services that cover my business
processes I've got AI to automate
everything and I've got a bunch of rapid
prototyping product development product
so quick to match I can start easy fast
and cheap I can evolve quickly and I can
scale up very rapidly so I have another
key takeaway if you want to tell the
real story of uber it's not over as a
giant car-sharing behemoth it's uber as
a company which evolved through four
major shifts in less than eight years
that's a very very different way of
doing businesses for those who don't
know the origin story
uber it was originally an on-demand
healing service for really rich people
in downtown San Francisco because the
taxi sucked so badly and it guaranteed
you in the early days that you would
either get a Mercedes e-class
or a Mercedes s-class that was the
proposition of uber cab as it was
originally launched it changed its name
launching
2010 just two years later uberx wit
brings a whole bunch of people in drives
down the price dramatically and creates
a whole bunch of gig economy employment
it uses the platform to match people
even better two years later
uber pool drives down the price even
further by putting people in pools
together and it's going on to build uber
eats and a whole variety of other
services my most interesting
announcement those who he lives in
London anybody in London dwellers any
London dwellers here use citymapper city
mapper is turning into a bus company
they originally had one bus service but
they forced her on it under the old TfL
rules which it still had to be like any
other bus except it was painted green
rather than red now they basically got
an uber light license for buses so these
are on-demand buses to fill the holes in
London's transport network my daughter
who now lives in Whitechapel is so happy
about this because one of the big
problems in the in the transport network
apparently is after midnight in East
London and trying to go north-south
rather than out you can get back into
the middle of the city right but you
want to go from sort of somewhere south
of the river to somewhere north of the
river but you're not right in the middle
of the city it's really bloody
impossible it's a big hole of the TfL
Network that's where city mappers first
on-demand bus routes are going to be for
established born analogue businesses
however becoming digital is a difficult
and hazardous journey I found it helpful
and this is more of an empirical
observation anything to think about it
in sort of four levels digitally
efficient digitally enabled where you're
starting to evolve your business models
anticipating textured behavior changes
in creating new value this is where born
digital businesses start let's look at
each of these four levels way too many
this is changing but if I go back less
than a year way too many established
businesses are stuck at level one and
all you're doing with digital in that
cases is driving cost economies trying
to save money focus on cost reduction
the value creation that is not a basis
competing effectively the first
significant step is a move to more
effective ways of doing business
changing the way in which you interact
with customers suits actually a
conversation supporting agile working
changing the social contracts with your
employees to support flexible working
arrangements and building a business in
which you are dramatically accelerating
startups at level 3 the focus shifts
from exploitation which is I built up a
business I'm still settling the same
products the same customers albeit in a
better way and evolving them more
quickly to actually going and looking
for new opportunities to create new
value what is happening with behavior
change can I understand pain points and
behavior can I predict innovation
trajectories and actually going out and
building new businesses born digital
businesses start here and this is a huge
untapped opportunity for incumbents the
most powerful intervention form which
very few born analog established
enterprises got to is becoming a digital
ecosystem and this is our best estimate
from a sort of informal sampling process
of what the distribution looks like
we've got fewer than 5% of incumbent
businesses that actually got to there
perhaps 15% here
tragically 15 or 20 percent of
businesses he when you ask them
yeah technology now I don't think it's
an issue in my business right but this
is the great middle ground it's like
yeah maybe we're using it to drive cost
out or we're starting to the change we
interact with customers when actually
way too few businesses are here yet
the challenge is that for most senior
managers this is what another one of my
favorite science fictional authors Ian M
banks who's also the novice Ian banks
called an outside context problem and
that's a context problem is what
happened to my Maori ancestors when the
when my English ancestors turned up
which is what is that absolutely
enormous thing with all that white stuff
because it didn't look anything like a
walker which is a outrigger canoe it was
a a British ship or Trobriand
is confronted with an aeroplane just at
the point at which we got to think that
we knew everything and we are senior
managers they change the frickin rules
in less than a decade now there are
examples really powerful examples of
particular industries going through this
change perhaps even more rapidly Tammy
was reminding me of the example of the
impact of Morris what happened when
Morris introduced the production line
but this is happening at greater or
lesser speed throughout the economy to
everybody and if it hasn't happened to
you yet it will to some extent soon and
that's a really enormous challenge
because you're asking people at a late
stage in their career to suddenly go wow
there's all this new stuff I have to
learn now what none of this existed when
I started working my straw poll who here
had the internet a cell phone and a PC
in high school or as they started
college don't be embarrassed
don't be embarrassed can we have these
people stand up right all of them might
some combination thereof these people
are digital natives right these these
people envision lives you can sit down
now we've way we know who you are now
here's my point for everybody else in
this room we are the only generation in
history who had digital immigrants
everybody who came before us was an
analog everybody who comes after us is a
digital native we had to suffer through
this shift and just what we ended up in
charge they changed the bloody rules so
you've got to understand all of this
stuff you got to send the technologies
you got to send the broader social
impact you've got to think about how you
build your business so let me wrap up
with what I think are three major
challenges from the human resources and
people point of view now we can
elaborate them and more depth but I got
highlight just three the first is
building a new set of what I have come
to call digital leadership behaviors
starting with top management necessarily
we find ourselves in the position in
top-down bureaucratic centrally
controlled cultures you have to issue
instructions from the top to tell people
that you are delegating Authority we're
doing some work in Saudi which is just
absolutely fascinating from that point
of view I highlight four particular
behaviors here which I think a really
important one is this is what we come to
call humility what Deborah Ancona at MIT
in her writing on leadership which oddly
enough was so deeply ground in the tech
sector would call being an income
recognizing it's okay to be in the
incomplete leader if you're looking for
the leadership model because she can I
have to deal with a bunch of know-it-all
digital natives and specialists and that
actually means you've got to figure out
some new ways of behavior because you
don't have all the answers there's what
Michael Tishman at Harvard calls
ambidexterity and that is ability to
work both in the exploit mode evolve the
core and simultaneously in the Explorer
mode have different parts of the
business work by different rules be
allowed to innovate more quickly they
don't have to write a business case and
our plan for everything I won't name
names but I will overheard a fascinating
conversation the other day about a
situation for a global company in which
the CEO and the head of the country and
the global head of marketing all agreed
that they wanted to make a change but
somewhere in there despite all three of
them having greed explicitly and issued
the instructions it didn't happen
because the three of them couldn't
overcome the bureaucracy there was an
approval process the budget wasn't there
I didn't have an authorization the
brutal controls that enable you to
optimize and do that by the way I don't
usually say this but I have a sort of
rule which is for something for a
company which isn't changing first you
fire the CEO and then you fire the CIO
and then you fire the CFO and maybe then
we need a new human resource to no I
didn't say that really and I can bring
out two other things that emerge as we
started putting these behaviors together
a really intense focus on getting
outside the organization what what I
this is a very
familiar Chouard but it's a security in
the sense of sharpness of vision and the
ability to discern what matters the
ability to look outside and beyond the
organization and agility to get stuff
done so the second major challenge is
then identifying the key specialist
skills your business needs and then
recruiting or retraining people with
them and then retaining those scarce
people mobile UX cloud AI + ml IOT
robotics and agile ways of working and
that's going to mean giving them
meaningful and fulfilling work it's
going to mean agility in the workplace
both in structure and careers and it's
going to mean flexibility to suit
employee and organizational needs the
third major challenge is then a really
significant underlying shift to
supporting and developing accelerated
lifelong learning it actually means that
when I go back here and I talk about
this accelerate learning what's his name
guy who found a fast company has a book
out where he says the key thing of a
leader is being a lifelong learner no it
isn't the key thing of a leader is
actually being supportive of all the
people on your team learning and
learning more quickly than they
otherwise would and continuing to learn
more quickly it's an outer directed
rather than inner directed behavior so
if we don't respond effectively the
future's bleak the incumbent economy
will be inhibited by the dominance of
tech Titans these businesses will be
small hobbled by regulation defensive
strategy the incumbents will stymie this
innovation perceiving the threat that
may emerge and establish enterprises if
they respond slowly and effectively will
many will ultimately nevertheless be
swept away there will be not much new
work and there will be massive loss of
existing work that's a diaphragm future
on the other hand if we actually start
adapting effectively tech Titans either
behave better because they recognize
that it's in their own bloody interests
or they get reined in they create much
new work we see a surge in employment
inside the technology sector amongst
startups and small businesses and we
also see an explosion of innovation and
entrepreneurship because the way cloud
services and things like
that are naming to do and perhaps most
importantly because this mitigates job
destruction and actually has the
potential create significant new work on
their top right hand side big
established enterprises once these
challenges effectively they seize the
opportunities they actually create new
value and they enable much new different
and better work so it's up to us if we
don't recognize and respond to the
challenge if we perpetuate these old
ways of doing businesses we will be
swept away in a perfect storm of
creative destruction on the other hand
if we recognize them respond to the
challenge we seize the opportunities we
create new value we can create lots of
new different and actually much better
work thank you
[Applause]

---

### Professor Lynda Gratton - Lifelong learning – your competitive advantage | London Business School
URL: https://www.youtube.com/watch?v=CwOF0A8zKsU

Idioma: en

I actually started thinking about the
future of work ten years ago in fact it
is that it is a decade since I founded
the future of work consortium which was
my research group that looked at the
future of work and to be honest when I
started it I thought it'll take about
two years we'll know all about the
future work and then we can move on and
run a consortium about something else
well guess what ten years later and
what's happened is the future of work
has migrated from something that HR
geeks like us were interested in two
things that HR people in general are
interested in two things that CEOs are
really interested in and so I'm in the
which I've never been actually before in
my whole life in that in this situation
where what we're saying in terms of
people is now incredibly interesting and
important to CEOs to economists to
governments and to educators and I want
to in the next 20 minutes or so 25
minutes just really highlight some of
the key issues I think are arising as we
think about the future of work but then
also I want to say something about what
I think we can do as corporations but
also what I think we should be
encouraging governments to do so let's
really start with this question of
imagining a world so you could think
about it 10 years hence 20 years hence I
taught we have I have an elective at
London Business School called the future
of rug it is the most difficult so our
students have a thing where they given a
certain a number of chips that they can
use to get into onto a program we have
an internal market in other words in our
second year it's the most difficult
elective to get on the students really
really want to know about the future of
work so I had a 90 of them last week for
a week which is still resonating with me
so some of the things I'm going to say
today are really partly to do with that
but one of the things I asked them to do
they're a bit younger than us well
they're certainly a great deal
me and maybe a bit younger than you and
I started off by asking them to draw a
timeline between 2018 and when they were
going to die
do you know that's 2080
and once you actually write that down
you actually write down 2018 and that's
really what I want us to think about
today that it's a long time and it's and
a lots happening and so imagine a world
where so that's what I'd sort of like
you to do just this afternoon is just
imagine what will happen to you to your
children to the people in your
corporations and indeed I'm also
interested in citizens these days I also
think about what government should be
doing so let me start with a really
simple piece this is really the
beginning of the book that Andrew Scott
and I wrote which was called the the
hundred year life and neither Andrew and
I are demographers I'm a psychologist
and he's an economist that's a rather
unusual combination turns out to be as
we always know through diversity it is
one of if you can make it work and it's
trusting we heard all about that from
Randall earlier it's an it's a fantastic
combination of diversity and we've been
I think we've had a marvelous time so
much so that we've finished another book
which you'll see next year and actually
this is sort of a bit what I'm talking
about today in fact so imagine you live
in a world where you're going to live a
great deal longer I don't know how long
that would be but honestly I think you
should imagine that you're going to live
into your 90s or a hundred it depends
how your age my kids would live to a
hundred I might I'm gonna try and I bet
many of you will so I want to introduce
you in terms of this imagination about
what it is to live to a hundred to a
woman called Susan so the book that
we've written you I don't know if you
read the hundred year life but you saw
there was a whole series of characters
in it
those turned out to be an incredible
literary device and I'm gonna use it
again so I'm going to introduce you to a
series of characters and I'd like you to
think about yourself but also about the
world through their eyes and for this a
piece of data I want to introduce you to
Susan so Susan is lives in Australia
she works for one of the banks actually
well no she works for one of the the
professional service firms that you
might have come across she's 55 years
old done pretty well and she has just
been asked by the company to start
thinking about retiring
okay now Susan being a sensible person
has looked at this data and she's
expecting now to live until she's 90 so
first of all keep Susan in mind so what
will Susan do by the way and this is the
I mean there's many marvellous things
about being a professor but one of them
is so the personas I've got in the book
and I've introduced you to warm to Suze
them and I'm going to introduce you to
two more I've set as an exam question to
my MBA students how sneaky is that so
they're actually as we speak working on
essays about what will Susan do I'm sure
they're gonna come up with better ideas
than I have so that's the first question
what will Susan do okay second this is
the first piece of data second piece of
data oh is Christian so that my second
character is Christian Christian
actually is my son
now I mentioned Christian because the
other one Dominic gets a lot of air time
in my books so Chris thinks that he
should also get mentioned so this is
Christian Christian is only young
obviously he's in his early 20s so he's
now trying to work out how long he's
going to work for and Andrew Scott my
friend The Economist very sweetly and
kindly and thoughtfully
get out and there it is it doesn't make
easier easy reading put it particularly
on a day when but we just we are about
to drink champagne or something so it
will help a lot I would definitely hit
hit so here you have he's got three
choices he could ask think about how
much am i saving now what he has me as a
mother so he's going to be saving a lot
more than most 20 year olds because I've
been worried about this for a long time
so but even so he's probably only saving
let's say 15 percent of his income
secondly he's got to think about when am
I going to retire and what what what
percentage of my final salary would I
like to retire and she said let's see he
says 70 percent and then he's come work
out from that the age in which he
retires well if we do that for Christian
the age comes out at about 80 so that's
the second person I'd like you to think
about imagine you're my son Christian or
any of your kids or anybody you know
who's about 20 years old the likelihood
is that they will work but a great deal
of their lives so imagine that now let
me talk very brief so that's demography
which is fundamentally changing our
world I wrote a book about it I want to
briefly talk about technology which I
wrote a book about called the shift and
our new book is sort of coming back to
all of that again now there's much to be
said about technology and work and I'm
very happy to answer any questions about
that but let me just tell you where I
think we are now in the narrative about
the impact of technology on work the
very first ideas about the impact of
technology on work which was really
started by a group at Oxford fray and
Osborne suggested massive job loss so
actually if you'd heard me or others
five years ago we would have talked
about massive job loss that turned out
to be wrong
and in fact and the reason that it was
wrong was because they looked at work at
the level of the job and as Tammy said
this morning you have to look at work at
the level of the task and most jobs have
about 30 tasks in them some of which are
going to be automated and some of them
aren't so if you redo all those figures
and that's what people are doing right
now on the basis of that data the task
data rather than the work data you'll
find that fewer jobs are going to go
completely but most jobs are going to
change so I want to introduce you to Tom
so tom is my third persona and Tom
actually sits here so what this tells us
and this is work that David Porter did
and it's really I think the simplest and
the best way of thinking about
automation and the impact of technology
on order on work is this you can think
about tasks as routine and non-routine
routine work is very easy for robots if
it's manual or machine learning if it's
cognitive to do because both of those
machines respond very well to be given
to have rules and of course routine jobs
have rules associated with them so you
can write the rules that then a machine
can do in the case of this analytical
work or that a robot can do in the case
of that manual work and that's sort of
where we were about five years ago so if
you take a look at job loss and I don't
I had a lot I don't I haven't got the
data to show you but we actually do show
it in in one of the books what you'll
see is a hollowing out of the middle
so these middle skill jobs disappeared
because those were mostly these jobs
what was left or was two types of jobs
non routine jobs some of which actually
were highly skilled and some of them
were had very low skills the highly
skilled non routine jobs are these sort
some jobs here analytical diagnostics
forming hypotheses persuading and
selling those are jobs where artificial
intelligence is now making a big
difference we sit here in London and a
mile away from deep mind which is one of
the world's greatest groups of AI
scientists and I follow them very
closely and you can see that that's
moving very quickly so when I wrote my
book the shift I dedicated it to my two
kids Dominic the other one said to me at
the time mum I want to be a doctor and I
had said too if I wrote in the shift
what a ridiculous thing to do because
obviously you know medical diagnostics
and so well he did become a doctor and
he's now is he becoming a surgeon but
you know he didn't listen to his mother
I don't know if you've got that same
problem none i I now I got married in
the interim so I now have eight children
none of them listen take any notice but
but actually that's that's sort of
what's happening to our type of jobs but
then non routine jobs also come in
manual forms like truck driving and like
janitor of services and Tom one of the
guys one of my other personas sits here
so Tom drives the truck he's one of
three million people in America who
drive trucks so the other thing I want
to ask you is what happens to Tom what
happens to Tom that's that's what I'd
like you to be thinking about now it
seems as if it's going to be fine for
all of us isn't it because we're all
sitting here were non-red not manual
when analytical and it's already great
well I thought that was the case as well
until I was in Denmark a few months ago
now I'm pleased to tell you and I have
seen pepper it's this robot on many
occasions because I spend quite a lot of
time actually wearing exactly the same
thing you can see what a lazy too lazy
dresser I am
the only difference is there I was
wearing sparkly high heels and this time
I put in mine this way I can't be
bothered so I put my flat shoes on put
their Valentin you know so you know you
still get sort of get it you so just
still get it don't you it's it's not the
Louboutin but it was anyway so this
thing actually it thinks it's smart but
it really isn't that smart but it is
finding its way into lots of my wherever
I seem to go these days I see around so
I go into Japan and try and buy
something in Japan and this thing is
talking through me and then I went to
Denmark to speak at the Danish
government thing and there is with me
now look it can't move so it's just
sitting there uselessly and but at the
same time you see that all of us could
sort of be taken over country it's not
it if those guys that deep mind have got
anything to go by it's not gonna be long
before that thing it's doing what I'm
doing but probably a hell of a lot
better and of course it could do it all
over the world so the truth is that
whether they're Tom or Susan or
Christian all of us are being impacted
by the things that are happening around
us and I want to just mention one other
area and it's the area of social trends
you know part of the issue that we face
in the future of work is that it's the
intersection of many different
disciplines that's why I was really
fortunate to work with Andrew because
it's the intersection of economics and
psychology it's the intersection of
demography and psychology but it's also
the intersection of sociology and I
think that we haven't listened to
probably partly their fault as well but
I don't think the voices of sociologists
have been hard sufficiently in our
debate about the future of work I can
see lots of people nodding about that so
what's happening here
well two things are really interesting
about the future of work and families
the first is women are working it's an
enormous social trend it's astounding
they're just getting out of their houses
into the
workforce in enormous numbers in every
place in the world even places like
Japan where you think they're not going
to get into work they are they're doing
their give them crap jobs and they're
not being promoted but they are moving
into work and eventually we hope things
in Japan will get better for them but
actually that's the most extraordinary
thing it's really going to influence the
future of work and what we're also
seeing is a fundamental shift in the
relationships at home and that sort of
affects work because here we have you
know this isn't my mum and dad and that
isn't me but honestly it could be I
looked almost exactly like that when I
was that age I don't this is that this
is 1950 this is this is me really and
here we have a typical 1950s family dad
works he's got a career mum's a carer
and home basements actually when you
think about quite a lot of the way we
think about work it's really made for
that isn't it that's what it's made for
but then we begin to see that that
changed it changed more where people had
a career and then the woman was
beginning to have a job and now we see a
huge enormous amount of diversity in
terms of family structure so what it is
to be a partner what it is to be a
family who's completely transforming and
it's certainly in my own research we
asked I asked one of my sociologists
researchers to count the number of names
for a family you know the different
family structures she came to at least
16 enormous variety but what we're also
seeing is people are trying to form
partnerships where both of them are
working now historically that has not
been the case and actually if you look
at historic data on that career plus
career you'll find it's a very small
proportion of people of my age but
actually over time it's gets bit gets
bigger so the third person or the force
if we if we if we include Chris the
fourth person I want you to think about
as a persona is Hiroki and Hiroki is a
guy who lives in
which is on the other side of Tokyo I've
got to have a Japanese person in my
books of course because the hundred-year
life was the best-selling book in Japan
business books all books it was so
actually when I write a book all I'm
writing for is Japanese people I mean I
I try and think about you guys and I
bring in Tom and you know but basically
it's Japan that's where that's where
we're writing for at the moment
so here's Hiroki and he's a typical
Japanese guy in the sense that
incredibly traditional family structures
he was he doesn't want to be like his
dad he wants to spend more time with his
children something his dad didn't do
he'd like to have a flexible work life
which Japanese companies don't have and
actually his partner is very ambivalent
about having children and this by the
way is reflected right the way through
Japan at the moment very low birthrate
so so the question I really wanted to
start this Mort this afternoon off with
is what would you do if you were any of
these people what would you do what
would you do about that and I want to
show what I think is beginning to happen
the first is you'd probably say look
I've got a long life
I'm Susan I've got to find I've got to
find another job and I already know that
the chances of my getting another job at
55 are low which is true by the way it's
absolutely astoundingly difficult to get
a job over the age of 55 if you're out
of the labor market so how's she going
to do that she's going to have to have
valuable skills isn't she or what about
Tom you know Tom's driving a car driving
a truck
he's not dumb I mean he knows about
automation he knows that his job will
probably disappear but he doesn't know
when and he doesn't know what what will
come in its place and by the way and I
asked I was yesterday with the chief
economist for the Bank of England and a
whole bunch of economists and I asked
him about Tom and I said what will Tom
do and the
was absolutely no agreement so it's not
as if when tom is feeling stressed now
and not sure about the future it's not
because he doesn't know anything or he's
being difficult or he's not being you
know as good as we are thinking about
the future he doesn't know nobody knows
nobody knows but here are the guesses
that those people are going to make
firstly we sort of know that the staff
that is important in the long term that
artificial intelligence and robotics
can't do is sort of stuff like that so
it would be wise for you to think about
what would valuable skills look like and
this is the World Economic Forum report
I I made a steward of the World Economic
Forum on gender jobs and something else
education that's it and so this is this
well we had them separately and then
we'd just pull them all together so this
is something that we came up with which
honestly isn't rocket science but
actually just begins to talk about some
of the skills that people will want just
take a look at those those are quite
high level skills and they're quite
difficult to develop the second thing
that we think Susan and particularly
Christian because he's young but
probably heiko as well will want is they
will want to move to a more complex way
of designing their lives so if you think
about the guy I showed you at the
beginning you know that in the book I
called him Jack my hundred year life he
was called Jack you know jack had a
straightforward three stage life
full-time education full time work full
time retirement and here's the kicker
most of the educational and corporate
and governmental practices and policies
that supported Jack were built from that
because what it assumed is it made a
couple of fundamental assumptions one is
it assumed that everyone would go
through that sequence and secondly it
assumed that everybody would do it at
this
time in their life now that meant that
when Jack was making a transition
everybody around him was making the same
transition so he didn't have to learn
about transformational skills because he
didn't have to transform he just had to
do what everybody else did and secondly
it meant the age equal stage and by the
way that's one of the reasons why we got
so overly concerned about people's age
is because if we knew their age we knew
their stage okay chronological age that
is so here's what we think is going to
start happening we think that Tom and
Susan and Christian and hokey will want
to build the first time I've used it we
think he's gay they are going to build
multistage lives what might that look
like well there's a first first thing
you notice about this is it's got a lot
more stages in it and that's because you
know why would you want to do all your
education in one blast especially when
you're young what why would you do that
so we'd expect education to come in in
all sorts of different ways and we've
called it exploration and self implement
secondly why would you want to work from
the age of 20 to the age of 80 that's
the that's the figure by the way you
haven't said that we say 70 now because
80 feels too scary looks at the data can
work that out but most people decide not
to very very wise yeah so what do you
want to do that non-stop you know why
wouldn't you want to start your own
business or make a transition or build a
portfolio or go plural or have hunk etc
etc and why would anyone even if they
could retire at 60 why would anyone do
that that's an awfully long time on the
golf course what what what are you gonna
do I'm actually the data on retirement
and health outcomes is mixed
most of the data shows that people who
have jobs
for longer are less likely to become ill
and less likely to have Alzheimer's is
clear data on that however that only
works if you have a good job if you have
a bad job where you're very tired and
it's very stressful and you're
physically exhausted then actually
health outcomes go down over the age of
60 but for people with good jobs it's
very good to carry on working so this
creates all sorts of problems
particularly for corporations because
that requires two things again happen
there
one is everybody doesn't go through the
same sequence they go through different
sequences at different times and
secondly they come in and out of the
workforce and that transition in and out
of the workforce is something that
corporations and governments find
extremely difficult to come to terms
with so what we're seeing at the moment
and it rather comes back to the point
that Tammy made earlier on today is
experimentation and what we've been
watching is just I think these are weak
signals so I look to see how many people
around the world are doing beginning to
experiment who are for example beginning
to work longer or beginning to build a
portfolio or beginning to start their
own business over the age of 55 or
beginning to go on a gap here when
they're 40 and actually of course what
you see is the courageous ones are
already doing that because they're the
ones who are already saying I'm going to
take responsibility for my life I'm
gonna do something different now where
does that leave us so I've worked in the
field of future of work now for 10 years
and a couple of years back I got very
excited about artificial intelligence
and work last year I got excited about
demography or 2 years ago I got excited
about demography work but actually one
of the things that happened in the
interim is people asked me to make to
start actually not just talking about
this stuff but actually to start making
recommendations and I was asked by the
Singaporean government and now more
recently by
the Japanese Prime Minister to make
recommendations about this so that meant
that rather than just talk about it as
we're doing now in a slightly relaxed
way I had to stand up as I've done in a
council with the Japanese Prime Minister
and eight of his ministers and say what
I think we should do and actually the
interesting thing is all the roads lead
back to lifelong learning
they just do you know if you think about
Susan what Susan going to do she's got
to start yeah we train what's Tom going
to do he's gonna find another job hasn't
he's got to do something else
what's Chris going to do my son what
does he do he's got to take time out to
learn right the way through his life and
so when I said today that I would talk
about lifelong learning it wasn't
because you're people who are interested
in lifelong learning it's because this
is what I'm saying to everyone that is
what I'm saying to the Treasury to the
chief economist last night this is what
that what this is what I believe to be
absolutely crucial now the challenge
here is that we're not set up for it
none of us are set up for it and why is
that the case well it's because if you
take a look at the capacity for Tom also
Susan to be lifelong learners a whole
set of things have got to be in place
and they have different stakeholders
with different needs and different
expectations so if I said to you well
let me ask you who's responsible for
retraining Tom whose responsibility is
that do you think it's Tom but hang on
Tom only gets paid $400 a week after tax
he doesn't have any say but we know we
know the Tom's not good any savings he
hasn't got the money so what what are
you saying should happen to Tom
he can't afford to be retrained so what
are you saying yeah
so you think so maybe it's corporation
but hang on is the corporation say we're
not in fact actually we as part of the
Japanese piece of work I did we've got
all of the Japanese companies to say how
much money they've spent spent on
training in the last five years guess
what and this is Japan it's gone down
why is it gone down why why wouldn't you
spend so much money training people well
because you say what's the point they're
nuts they're not gonna stay what why
would I do that so so so companies so
well what about governments shouldn't
she shouldn't you as a taxpayer be
supporting Tom I don't know should you
you should we're supporting young people
why wouldn't we suppose so who pays that
through tax so how do you feel about
that good I feel good about her as well
actually yeah but you see the problem I
mean actually honestly if this was an
easy problem we would have solved it by
now wouldn't we but it's one of those
problems and there's a couple in the
world right now where you have to get
lots of different institutional forms to
work together and so I want to say I
want to end really by saying a little
bit about how that's working right now
it's not really working very well but
let me give you a few ideas about that
firstly corporations are doing stuff and
if you look and I've written up a couple
of cases Westpac I mentioned to you it's
a good example of that they realized
that 40% of their jobs will be automated
they built a social media platform with
lots and lots of content with peer
groups of moderators with this and that
coaches and God knows what and everybody
could go through it and they found that
even the people who were going to lose
their jobs felt as if they could do
something themselves to to retrain so
corporations can do a great 82 at AT&T
has put a huge amount of money in the
States on that
and if you look at even corporations
that are no you know not working
collaboratively you'll see the same
thing happens so in India right now
emphasis Tata consulting service we Pro
work together to educate millions of
people and not only in their own company
but also outside of the company so I
think corporations can a must step up
not just to educate their own employees
but actually to educate others around
them if your core competence is your
capacity to educate your workers why
wouldn't you want to take that into the
outside world why wouldn't you do that
because actually three million Tom's
feeling unhappy isn't a place where any
of us want to be you know a millions and
millions of susan's not being able to
find a job after after the age of 55 is
a pension crisis which is of horrific
proportions I mean it will be a signal
if we can't help people like Susan work
over the age of 55 there will be a
pension crisis we we have the data very
clearly on that so isn't it in all our
interests both to do it for ourselves
but also to do it for others
secondly shouldn't government's step up
here shouldn't they be doing that I mean
why can't they do what Singapore does
and give $500 to each employee each
citizen to spend anyway they want
and last week I had one of this the
senior civil servants from Singapore
over in my office at London Business
School and I said how is it going he
said well actually we've just analyzed
the data and this is what we found we
found that the over 55
disproportionately spend that money
that's they spend more money on learning
than anybody else so we were wrong about
learning and Bingbing older and I said
well what are they spending their money
I said well here's the really funny
thing the second most important area
that they've spent their money on is
learning Korean
and I said well why they learn increased
how you don't know that in Japan
everybody what watches Korean soaps so
everyone's learn but does it matter I
mean actually we know don't we that
being a learner is being a learner it
doesn't matter what you learn you're
learning or why can't we be like Denmark
you know who's doing some of those same
things as well so I think governments
should step up and they need to do that
really quickly what about educational
institutions we definitely need to step
up we definitely need to open ourselves
up for lifelong learning and also use
some of the technologies that will
provide so many opportunities for people
and of course individuals how can we
help them well again one of the things
that Singapore is doing is they've
realized that it's hard for you to be
motivated to relearn if you don't know
what it is you're relining what what
should Tom actually learn so one of the
things they're doing is at the level of
government they've built industrial
pathways for 24 different industry
sectors this is Singapore for you which
shows what's going to happen to that job
over the next five to ten years so
people can say okay I have an idea of
what's going to happen to me so that's
really what I want to finish with I want
to finish by saying you know when we
think about the future of work it's easy
just to think about our own employees
and that's really where it has to start
but actually the issues that we face
right now are much much bigger than that
and we incorporations
and we in education institutions have
got to play a role to support people in
what will be now I say this with
thoughtfulness the largest and fastest
transition that mankind has ever gone
through
we Andrew and I are now saying that we
didn't say it in our last book because
everyone said well what about the
Industrial Revolution or what about this
First World War the Second World War
actually it's the biggest transition
that we've ever gone through we've got
about 10 years that's all we've got
and then things will sort themselves out
but for Susan and Tom
and for Kristian and haiku we've got to
help them right now to make that
transition thanks very much
[Applause]

---

### 2017 LBS Live Highlights | London Business School
URL: https://www.youtube.com/watch?v=hEFaZ0Nd-68

Idioma: en

You have to be creative, you have to
create the right kind of actions in the
organisation. Think of it as an
opportunity and try to disrupt the
disruptor.
No matter what your job is
today, if you plan to be in the same role
for quite some time, expectations are
changing, technology is disrupting how
your organisation works, and chances are
you're gonna have to make your own
transition.
The markets are changing all
the time and it's very important to
understand how things evolve, how they
change and act accordingly.

---

### Professor Dan Cable – Alive at work | London Business School
URL: https://www.youtube.com/watch?v=7yafvO2xMRs

Idioma: en

so let me just start off with a little
picture here the picture is about tools
and the idea of a tool that I once
learned how to use when I was about 15
years old does anybody know what this
tool is yeah what do you call that
Randall we would call that a circular
saw a circular saw yeah or table saw and
it's kind of good for making straight
cuts that's what it was made for and
when I was a little kid my dad had one
that looked a lot like this lying around
in the workbench they're really
dangerous I mean honestly you really
shouldn't touch these things they spin
alarmingly fast and they are annoyingly
sharp but if you're just making a
straight line cut they do a much better
job than the old-fashioned one so I mean
I guess you could say I became addicted
to it meaning that whenever I needed to
cut anything like a bike jump or if I
was making a tree house I'd get this
thing out and I would cut it and I just
wanted to tell you a story about
something that happened when my mum and
dad kind of either allowed me or asked
me to do some paneling work and I had to
make a little bit of a curved cut and
this was my saw so I reached from I saw
and I tried to make a curved cut the
best I can say is I made it work there
was a lot of friction in heat it was
kept trying to kick back because it was
the wrong tool for the job I needed to
make a curved cut I needed something
that could adapt and it wasn't adapting
at all and so I just I probably almost
killed myself I hardly got the job done
but my whole talk in some ways today is
about having the right tool for the job
and I want to bring up a certain tool
that we've invented and you know as
leaders of organizations we have to get
them to act in certain ways and there's
a sense in which if you think about
Henry Ford's problem it's how do we get
a bunch of people who we don't really
know that well and we probably can't
afford to trust
it might be as many as 15,000 people how
do we get 15,000 people to focus on
these tiny repetitive somewhat
disconnected tasks because that's what
the Industrial Revolution was good for
it was taking streams of production
workflows and snapping into tiny little
bits where a person became very very
efficient at something that was fairly
repetitive and you could teach somebody
fairly quickly and since that's a
motivational problem how do you manage
that situation and you know I think this
picture does a little bit of justice but
so many of us know about the the
assumptions underlying the Industrial
Revolution and so many of us have been
in jobs that put us to sleep maybe you
haven't I've had a number of jobs that
have nearly put me to sleep it wasn't
the first month that was the problem it
was the second year and so there's this
issue that we never really liked it but
that's why they called it work if it was
fun they wouldn't pay us you know there
are ways of coping with this there's
still me on the weekend it's like a
commute to Saturday you know there are
ways of sort of living this life and you
know it may not be humanistically
satisfying but it kind of can get the
job done if things are very straight and
predictable and you don't need much
agility and going around curves because
I guess you could say that we think
management is a sort of a tool
and the tools that we use to manage the
humans were inventions for the large
part and then we have to start
questioning whether those are the right
tools for the job and I stumbled on the
centerpiece of my book two years ago and
I was surprised really surprised as a
psychologist I think they ought to teach
people this but they didn't nobody
really taught me about this maybe it's
too new when I was in undergrad this
wouldn't have been invented yet because
we hadn't really invented fMRI machines
yet but you would have thought that by
my PhD somebody would have mentioned
this it's a part of our brain that could
be called the ventral striatum that's
the fancy word there's a guy named yak
panksepp who is a he's a neuroscientist
but he studies the emotions affective
neuroscience he calls it the seeking
system and I think that's gonna sell
more books so I'm also going to call it
the seeking system rather than the
ventral striatum but what you need to
hear right now it's an actual part of
our brain that urges us to be curious to
try to understand the boundaries of our
environment and push on them a little
bit to see our impact on the world and
see why things happen it's urging us to
do that and when we follow those urges
it gives us a little sprig of dopamine
dopamine is a very nice drug the cousin
dacovian I don't know if you actually
know much about this but it's kind of a
cousin to cocaine
meaning it's an enthusiasm maker it's
not like puts you to sleep sort of drug
and so what this means is we have within
us a physical center that asks us to
push on boundaries and learn new things
try to understand cause and effect and
for Henry Ford this was a problem
this was a bug in our system that had to
be ironed out and swatted down so we had
to look for controls and extrinsic
motivations we obviously you're not
gonna want to do the same thing day in
and day out for five years but what if
we dangle this over here and what if you
measure you really carefully and what if
we say well fire you if you don't do it
our way
tools of the trade got the job done as
long as you know that Henry Ford was
able to make those cars in one color for
ten years actually eleven years guess
what color black then after 11 years
consumers tastes changed I don't think
we have 11 years anymore in our
businesses for if you're an IT I don't
think you have 11 weeks the path to
competitive advantage is a lot more
winding it's not such a straight shot or
you can predict for a decade or even
half a decade what's happening and
there's this idea though that we need
something different out of the workforce
we need people to think on their feet
like owners instead of waiting to be
told what to do like robots we need
people to be creative and listen to what
the customers asking for and then help
us create a solution proactively take
risks try something new
innovate well these may not be the
behaviors that are lined up with the old
technology with the old tool so that's
something I want to introduce something
quite strong I mean it's actually
somewhat disgusting so get ready it has
the benefit of being true but it's mean
it is mean where's my little timer by
the way back there anybody know about
learned helplessness some of you have
heard of Martin Seligman though right
Martin Seligman is one of the sort of
parents of positive psychology but he
didn't
start that way he started off shocking
dogs Martin Seligman now he didn't do it
for shits and giggles and he was writing
a pretty intense thesis at the
University of Pennsylvania on learning
theory and the ability to generalize
learning and it was really very
important but I can say you wouldn't be
able to do this experiment today so what
he would do is he'd put a dog in a
little box it looked like this and then
he would shock one side and it was a
little bit difficult but the dog could
hop over this hurdle the shocks hurt
enough that the dogs yelped and whined
and ran around and urinated but
eventually they would find their way
over that hurdle sometimes they would
fall over it when that happened they
experienced sweet relief they need shock
the other side
AHA they would say after hurting and
maybe urinating again I know how to
solve this and get back onto the other
side in a much quicker response time and
he would do this about four times and
the decay went like this it was learning
theory being generalized there was a lot
to learn there then he did the meanest
thing which is shock both sides
simultaneously well if you were that dog
you might jump back and forth because
you jump over thinking of sweet relief
no it's not let me go back over no it's
not he did that about four times and
then he just lied down and took it
that's called learned helplessness what
the dogs learned is there was nothing
really to be done except shut off and
I'm afraid this is what we're doing to
our workforces
I'm afraid that because we've set up
KPIs and controls external rewards and
punishments because our goal is to catch
you out when you're messing up your
experiment yeah we call that failure
because it didn't work perfectly no I
know we told you to take risk because
not the ones that messed everything up
we wanted the innovations that worked
not all the innovations we want your
unique ideas but as long as they follow
our prescribed policies when you take
risks and get hurt you learn not to take
risks and just save that for Saturday
so I'm afraid in a pretty obnoxious
story but again has the benefit of being
true we can start to look at how maybe
our old technologies have created the
very disengagement that we're now trying
to fight but we're trying to fight it
using the same tools that we invented in
1900
of controlling behavior so most of us
know about the fear system this is
something I learned about a long time
ago we know where it comes from
we understand the drugs and we
understand the behaviors for example if
you're walking out in a forest and
something is running behind you very
fast and maybe it's even faster than a
human you might experience something
called fear you might report a feeling
of anxiety and then there's a drug that
corresponding drug is called cortisol
and adrenaline by the way and these
drugs do certain things to you their
unconscious they happen to you they make
for instance you focus on the threat and
they screen out the rest of the world
whatever the thing is that's attacking
becomes the center of the world and the
only thing your body is able to take in
is information at that point and so the
action tendencies what this drug makes
you do is narrow focus and the most
interesting part for me and for Henry
Ford is if the threat comes from your
own organization your own group fit in
conform now these are evolutionarily
sound studies this is called
evolutionary psychology I don't really
want to go into that but I bet you a lot
of you know about a lot of this I don't
think this is that new what was new to
me is we also have something called a
seeking system and when people light
this up they feel curious they feel
excited there's a different drug instead
of cortisol it's dopamine and that drug
has different action tendencies rather
than focus its broadening let me play
around with what
I already know now this is if you need a
researcher to go along with this this is
Barbara Frederickson 101 she is another
one of the parents of positive
psychology and if you want a great book
about this that lays out the science
positivity is a really good place to
start but there are 35 years of evidence
on this now and the idea that maybe some
of you are having is which one is better
for today's modern conditions of
management what are most leaders looking
for in terms of the action tendencies do
we want submission and narrow detention
where we tell you exactly what to do and
you focus or do we want playing and
exploring around and experimenting and
learning from the environment well the
answer is probably a little bit of both
but what we're going to do is we're
gonna look at how it's hard to have both
say you have an automobile let's say
that you're going 60 miles per hour and
you slam both of those to the floor what
happens
does the car accelerate or decelerate
try it
it decelerates take the risk if you're
standing still in the car and you put
both to the ground the car doesn't move
the brakes are stronger just like fear
is stronger that is stronger than good
rebound Meister wrote a tackle
called bad is stronger than good it is
really very clear that the fear systems
are stronger than the seeking systems
their immediate and more visceral so if
you are a leader that says mom a little
bit of this and a little bit of that
it's gonna be hard for you to pull that
off as long as you have KPIs and
measurements and control systems and
punishments in place that anxiety is
going to be hard to override with a bit
of joy on Friday a simulation session so
we need to be careful about fear being
kryptonite to
the seeking system and there's a whole
biology under that and I wrote about
that in the book quite a bit that's not
something I'm saying lightly
I'm not saying wouldn't that be funny if
that were the case I'm saying that in
rats and cats and dogs and cattle and
humans that happens a puppy that is
afraid is not a puppy that plays so to
turn to the last little bit before I put
it out to you and we have our first
little chitchat I actually see this as a
cause for great happiness and even
optimism I see that there's a lot of
change going on in today's world and you
could argue more than ever for instance
if you have this one thing called a
telephone it's not very useful if one
person has it do you know what I mean
about distribution until you hit the
s-shaped curve of distribution even 10
people the telephone is not that useful
but if you talk about 50 million people
then it could start being useful and it
took 75 years to get there for the
telephone how long did it take for the
TV to get to 50 million people
what do you reckon that'd be 13 pretty
close and then the Internet I can
remember when they tried to introduce
this I was at Cornell University it was
1991 they were trying to get us to use
something called bear mail we all
thought it was stupid because if no
one's using it then it's dumb but it
took four years and then you can say
what about a billion users you know how
long does it take windows versus Google
versus Facebook and you can do this all
day long
I know given your careers you do this
kind of stuff for a living and there are
so many things that we're doing to
ourselves right now that seemed to make
companies that we thought we're
bulletproof quickly seem irrelevant
companies that 10 years ago were worth
ninety billion dollars don't exist
anymore because they couldn't adopt they
couldn't change couldn't make the leap
be agile what it's looking like right
now is we need a new tool and if we're
managing organizations we need different
outcomes in terms of behavior but we
still might be pushing the buttons of
the old saw it's gonna create a lot of
stress and a lot of friction and a lot
of heat if you try to guide the wrong
tool to do a job it wasn't made to do
now you might almost be able to make it
work for a little while but eventually
you're probably gonna get hurt you're
probably gonna chop off some fingers so
my first question to you is turn to the
person next to you and just spend ten
minutes and the questions are kind of
funny I think if you didn't see the
first part of the talk you would think I
was insane and that's okay I think that
the first question I'd like you to chat
about is in your work situation would
you say you're shocking the dog would
you say you're the dog being shocked and
the answer could be both or neither so
go ahead and just take ten minutes and
chat about that and then we'll get back
to work we're gonna do a little vote now
and do I have to click on this or will
you just put it up there I think you'll
probably just put it up there but what's
going to happen is I think they're gonna
put up a thing that has a do I click on
it maybe I haven't done this a lot but
it's going to have a little code so you
type that in slide Oh calm and then
you're going to vote on each person's
gonna thrown in my own work situation
I am shocking the dog by not allowing
people to use their seeking systems I am
the dog being shocked because I cannot
use my seeking system both or neither
this is pretty good given our careers
you know what I mean both is seemingly
winning too
it's really fun to use this I feel you
know it it sort of is like the Spotify
revolution I wonder what we would have
predict you know I wonder what we would
have thought before we got the data it's
quite a bit more both than I would have
thought and this notion of being the dog
being shocked just to play that back to
you in the way that I feel it and the
way that I mean it each of us has an
innate built-in system urging us to
create and play fool around with the
boundaries and understand our impact on
the world but we often have a technology
a tool that is making that really
difficult to do any of those things
because the job is very parsed and it's
very hard to see the cause and effect
and whenever I try to experiment and
play well then it takes up time and then
I get punished for not doing the thing
that I was told to do and there's just
no time to experiment in play so I kind
of just have to do the thing and this
reflects why you know we know that
between 70 and 80 percent of humans are
disengaged from work you know this would
be the global Deloitte polls or the
global Gallup polls it's it's reliably
above 70 percent and 19 percent are
actively disengaged from their work
meaning they're disgusted by it they're
disgusted by their craft let me just say
it in a weird way they're disgusted by
the thing they do for most of their
waking hours on the planet actively
pushing away repulsed by what they do so
when I talk about the human emotions and
then I talk about the Golden Age what I
hope to be pushing out to you gently is
that for organizations to
Wyn in a volatile environment we're
going to need to start triggering some
of these seeking system positive
emotions and firms that can't or won't
do that will probably not be around for
much longer and firms that do learn how
to do this develop a competitive
advantage because the seeking system is
the emotions of agility the seeking
system is what creates the emotions that
let you pivot and be agile and learn
fast and try new things so possibly if
you believe in my optimism it's saying
that the faster the change comes the
quicker the organization's will die that
chalk the dog now if we're Shrum pa'dar
which you know many of us are not we
call that creative disrupt destruction
we're not so fussed by it but if you're
one of the people leading one of those
firms it often feels like you're
responsible for keeping it alive and
that's often the position we're in so
that's why I think this is so relevant
to all of us our final analysis then
looks to be most common answer by a
longshot is both second most is I feel
hurt I don't feel like I can use my
seeking system and you know we're pretty
senior you know think about people in a
call center or taking your order a fast
food chain or you know most jobs it's it
probably is a little worse and then
neither or neither not you know that
that's what we love and those of you
that are in that situation I think you
should take a you know a deep look at
how you're setting up your HR systems
and make sure that you keep embellishing
on that you consolidate and embellish
you you continue to build upon it's a
gift it's a it's a joy both literally
it's more joyous to come to work but
also it's something that's
future-proofing you because it's going
to lead to emotions that let you adapt
so and I guess it's not really a
surprise that nobody themselves said I'm
shocking the dog nobody's asking me to
do it I'm just doing it none of us think
it's maniacal none of us think it's evil
Henry Ford and and you know it wasn't
evil it was about efficiency it was
about customer demands it was about
democratizing the automobile it was
about high quality it's about
regulations and nobody thinks it's about
maniacal evil but the unfortunate result
it
ok let's shall we go back to our
regularly scheduled material so this is
an experiment done by a Harvard
professor and what she did is had people
come into the lab just off the streets
of Boston and they had to sing this song
in front of a an audience that they
didn't know and before they were gonna
walk up and sing that song they were
randomly told to say one of two things
they were either going to walk in front
of the people and say I'm really excited
to sing this or they were gonna walk in
front of the people and say I'm really
anxious about this and to say one or the
other and then they sang the same song
and then what happened is there's this
great software that we makes called
Karaoke Revolution and the cool thing is
it grades them just like guitar hero it
knows if you hit the high note and it
knows if you hit the low note and so
this karaoke revolution becomes the
dependent variable if you will as a how
good of a singer and how much you nailed
it what do you think could that one
little word anxious versus excited could
that make a difference but still they
have to stand in front of a group of
people this is a stressful world isn't
it and yet it was a 30 percent
difference 30 percent difference
objectively judged by software I sent
this off to be published and the
reviewers said very interesting but
that's just singing
of course we know emotions influence
singing so she goes well let's do it
again only this time this to a maths
test so she brought people off the
streets of Boston and she put him in
these little cubicles and right before
they were gonna and she stressed him out
she said this is an intelligence test
and at the end of this you're gonna know
how smart you are relative to everybody
else but right before you start I want
you to read out loud what comes up on
the screen and half of them had flash up
I'm nervous and half of a head flash up
I'm excited so the same stress maybe was
interpreted in different ways because
the excited team was statistically
significantly and substantially better
almost a full grade point average higher
moving from a C to a B on average same
questions she did it one more time and
the last time was public speaking a
little bit like this get a get in front
of a roomful of people you have to give
a five-minute speech and all those
people then judge how effective and
persuasive they were statistically
significantly substantially better when
they didn't know what condition but if
they said I'm excited or um so there's
something that's going on here about the
way that we're treating stress and if
you treat it with emotions that say I'm
excited and curious to see it seems to
create a different outcome than if we
say I'm nervous
and I'm fearful of what will happen now
that's cueing it or triggering it in a
very easy way but I sort of dug in a
little bit more her name is Alison Wood
Brooks by the way it's a really fun
study you can check that out but I just
dug in and wondered if maybe this isn't
related to the notion of triggers that
we have access to with the seeking
system you know just saying I'm excited
or I'm anxious yeah that shows kind of
the tip of the iceberg but doc panksepp
very clearly spells out he's written a
textbook on this affective neuroscience
look for it in a bookstore near you and
in this textbook he lays out very
clearly as a whole chapter devoted to
this there are three triggers of the
seeking system so I just plumbed those
and put them in this book
and here they are number one you get
people to think about experimenting and
playing at work and he calls this a safe
social space where people are allowed to
or encouraged to just play around now
you would have heard of some of these
and I've used some of these now in
companies for example you would have
heard Atlassian software Daniel pink
made really famous in his book Drive
where they just give people three times
a year a full hour and these to call it
FedEx days and the idea was you just
messed around with whomever you wanted
wherever you wanted on whatever you
wanted but in 24 hours we all meet back
and just tell each other what we tried
and what we learned I went to deal logic
here in London and I helped them do a
little something where did the exact
same thing but as they presented here's
what we tried and here's what we learned
the board the CEO the CFO the CEO Oh
listened all this and the ideas they
liked they invested in we called this
creative capital they invested not with
money though with time we let them job
craft so when the team presented
something that was cool and they liked
it they said next week when will you
take two full days just working on that
you'll find some other way to get your
work done two three weeks later 70% of
those projects were coming to fruition
with products and services changes in
policy changes in billing changes in the
way that we do business that actually
made the organization better and the
people loved working on it because it
activated their enthusiasm the technical
word is zest that's the psychological
word for what this description is of
this enthusiasm let me tell you
something about zest it excites me a lot
zest is when life feels like a treasure
that you can't wait to unpack the
opposite our minded minor depressive
symptoms when it's just really hard to
get out of bed and life starts feeling
like a hassle time becomes a problem
instead of a treasure
so humanistically we're talking about
something very very deep and important
about
the nature of living in the experience
of the journey I find it really
interesting that we literally have a
pretty big opportunity to make life feel
more worth living and when I say Golden
Age of human emotions what I'm saying is
it happens to also be what your
organization needs right now so that's
the first one the second one is a woman
named Janet dutour she's now done three
studies you can check these out where
she hooks people up deaf MRIs and half
of them she just gets to write about
whatever let's say a tea kettle not that
there's anything wrong with tea kettles
just something to write about and other
people
she has write about their signature
strengths what they're capable of who
they are when they're at their best what
are their core values and those people
the ventral striatum lights up they get
a charge of dopamine and it turns out
that as humans thinking about our
potential or capability in the world our
unique strengths and what we bring to a
team that's unique that seems to light
up the seeking system Trading zest and
energy giving us this enthusiasm and
then the third one which I've already
mentioned is this notion of the why of
the work that goes beyond the money so
who does the work a fact it's a number
of really interesting studies on how
organizations that connect the worker to
the end result of what they produce not
only feel more meaning in their work
they produce better results and one
really interesting study this guide MIT
took folks in a fast-food establishment
and half of them he gave them little
iPad monitors that the cooks could see
who was ordering that's what was so with
everything of customer you saw who
ordered the egg or who ordered the bacon
who ordered or whatever what they found
is those people were substantially
happier with their work those that were
able to do this and the customers were
statistically happier with their food
one of the things when he dug this out
his name is Buell when he dug out what
was happening there was
number of little innovations that did it
in real time for instance what they used
to do was aid fry five eggs every time
somebody ordered one they'd do it for
five and then the next five eggs that
were ordered they just give the other
eggs and that meant four people got not
fresh eggs and the last person maybe
even got a cold and somewhat hardened
egg before the people that actually got
to see them they're more likely just to
make the eggs fresh for each person it's
very interesting what seemed to make the
workers more happy also made the
customers happier with the production of
the food and yet they didn't know what
condition they were in the customers
didn't know that so it's really very
intriguing what is possible here what
I'd like you to do now is pair off again
and maybe it's somebody different
I'd pick so many different just to move
the energy around a little bit
what would you say your HR systems are
or could be build around the seeking
system triggers and I have a little
chart here that you could kind of use
just that's not seeking system that's
adrenalin and a little bit of cortisol
that's a it's a little bit cortisol just
to touch pick up flavor I don't know
which ones but along the top I put maybe
some different HR systems hiring
onboarding feedback performance
management pay bonus training L&D you
could put more on
and then around here which one prompts
experimentation which ones emphasizes
the strengths which ones helps people
experience purpose just have a chat
about that and then we'll do another
vote and we'll see how that goes
technically that wasn't quite ten
minutes but I really don't want to
overstay my welcome here but do you mind
just for the fun of it
typing in the thing again and we've just
got a second voting opportunity where
you know the answer might be many of
them if that's the case just pick the
one that most focuses on activating the
seeking system and if it's none that's
okay too you know it's part of what we
want to learn but my guess is that one
of these do the best job of it
yeah that's very interesting about the
training learning and development as I
was thinking about these slides I
thought to be honest the learning and
development if done the right way is
activating the seeking system that's
it's sort of what it's made for
but I gotta tell you lots of firms have
L&D that doesn't really activate the
system I've taught those sessions in
name only
ok that's lovely
it looks like the clear winner is
training I find it really compelling
that hiring and onboarding because I can
tell you that's when you have a real
fresh chance you know there's that one
chance to make that first impression and
I've done some research suggesting that
how you manage that first day and even
that first hour actually has impact on
how they feel six months later so ok
some really nice um some really nice
catches there I think that at this point
why don't we go back to the other
presentation I feel like given the you
know relatively short amount of time
that we have left I think that rather
than going through these and you know
kind of doing a rush I can do that I was
going to give you maybe an example in
each of these different domains like I
did with the geologic example I gave you
I wondered if maybe we could just have a
little bit of dialogue or a little bit
things that you thought were
particularly either appalling or
interesting or even surprising that you
wanted to ask each other you know take
the knowledge in the room and focus it
anybody please
we know I think as a as a parent with
three kids who are going onto social
media you know the impact of digital
technology on our children you know
every time we press like or go on to you
know our screen that gives us a hit of
dopamine and that's why we keep on doing
it and I think you know that it's just
Sibley it's just the power the power of
that is just I know one of the things
that I love about you bringing this
particular piece off when I'm teaching
this even with fairly hardened I'll say
hardened leaders but what I really mean
are hard edged efficiency experts
they're kind of like yeah yeah yeah yeah
until I start talking about the
biochemistry and the neuroscience and
your brain it seems to stop them in
their tracks because now it's not just
sort of like oh you HR people it's more
like oh yeah that's our operating system
and this thing that I'm acting like it's
a bug it's actually a feature what Henry
Ford thought was a bug and tried to
squash it
I could activate it and get more quality
I could get more customer service I
could get and that it almost seems to
stop him in the tracks because it's a
fact or as they say in Washington DC a
true fact you know it's something that
they can't they can't go around it's not
an opinion anymore it's biology so I
actually think that there's also so it's
important what you're saying and it's
also an important way in so more thought
on that later but it's something that
I've been noticing really resonating but
I think just personally the analogy of
the dog will stick with me for the rest
of my life you know because it's it's
horrible but it's hugely
thought-provoking and I think you know
when we all look back at our careers or
different parts of our lives and just
think actually when did I turn into the
dog and just give up because I just
submitted and I think you know we have
to continue to think of that and push
ourselves to one be conscious that we're
not doing that to our colleagues but
also that the spirit that we have within
us doesn't die and we you know continue
to
jump over and go okay I'm gonna get
there I'm gonna get there I can change
this you know I'm not going to submit
and because it's within our power and
within our gift I think that's so nice
and I think so many of us that have
worked in organizations where there's a
sort of creative apartheid going on
where the people the top kind of assumed
the only ones that can think the ones
that get to be creative because well for
the smart ones come on let's face it you
know that kind of an attitude it is so
important to try to turn that and say no
no actually everybody has a seeking
system that all the people that plan
their own vacations that are able to
sort of map out their lives it turns out
they could actually help a customer in
their own way as well but I don't think
that our assumptions are there yet in
big or small companies I think that
earlier when we saw that there are some
percentage some lucky percentage 30% in
this room that don't feel the shock and
they're not shocking that's why I was
saying that's such a gift because I
actually think it's something rare and
this might not be a bad place if you're
comfortable to think about ending the
conversation because my first book that
I wrote this new change to strange it
looked at the sources of a sustained
competitive advantage and it just kind
of dawned on me as you were talking
let's say that activating the seeking
system is something that's kind of rare
lots of companies aren't doing it but
let's also say it's something quite
valuable
meaning if it creates meaning and
resilience and innovation and
experimentation and trying new things
but then it's a it's kind of hard to
imitate because our existing HR systems
are such a tool that's in place and you
just keep reaching for that tool because
it's in place the old tool is quite
sticky I can guarantee you if we go back
to me using that saw I reached for it
every opportunity because it's a saw
ahead and I could kind of make it work
almost so if there's a firm that can
figure this out and crack it and then
they have something valuable rare and
hard imitate it becomes a source of
sustained competitive advantage so
that's one dare I'll end with that
because that's actually really nice
that's why I'm saying I'm so optimistic
about this as four
need to change a lot those that activate
the seeking system win so that's thank
you that's a really thought-provoking
idea there you're welcome thank you
we thank Dan Cable please
[Applause]

---

### Who cares about your strategy? | London Business School
URL: https://www.youtube.com/watch?v=JyVMYT8IXaY

Idioma: en

[Music]
CEOs often look to win the head rather
than necessarily the heart and of course
they do need to win the head there has
to be the logical case for change but
beyond that if we want to close what I
call the knowing doing gap we need to
understand as well as know we need to
understand what the execution of
strategy means for our jobs our
priorities but then even beyond that if
you are going to get all my energy my
commitment my discretionary time you
need to get to my heart we need to go
from I know - I understand - I care and
then I will

---

### Data science and machine learning is a must for your organisation | LBS
URL: https://www.youtube.com/watch?v=nppsHgfyYC0

Idioma: en

the short answer is absolutely yes
because if you think about it what
filter net if if you don't invest in
data science and machine learning your
competitors will and you are
soon-to-be-ex customers will be
receiving a much better service from
them and even if your competitors don't
I bet your disruptors will so the
question is not whether you should be
investing in data science and machine
learning the question for me is how
should you be investing in the design of
machine learning
[Music]
you

---

### Consider an underperforming company for acquisition success | LBS
URL: https://www.youtube.com/watch?v=qOH1fTfskvI

Transcrição não disponível

---

### The story behind the numbers and how to use them to your advantage | LBS
URL: https://www.youtube.com/watch?v=3wN2kCTT6rw

Idioma: en

what I'm going to do today is talk about
a case and the case is Amazon which I
think you'll find interesting and my
motive is that I want to give you a
taste for what we do in the finance
still analysis and accounting executive
module here and the overview of that of
course is that it's it's essentially
about storytelling so what I try and do
during the week it's pretty much cover
the waterfront looking at many many
cases different balance sheets different
balance sheet types different business
models but always my goal is to say how
can we tell the economic story of a
business from its numbers so that you
know there's some there's some technical
stuff and in a minute I'm going to put
some numbers up brace yourself for that
and we talk about the accounting rules
inevitably because you need to have an
overview at least apparent gap as it's
called GAAP works in order to understand
when you're being misled but basically
the core of it is as I say very simple
and the reason for choosing Amazon which
is one of the cases we we discussed
during the week is that of course it's
eternally interesting in that indeed in
that paper Priya was talking about that
I wrote at the time of the dot-com
bubble where I argue that it was just
not possible rationally to tricks to
understand the evaluations that
companies were sitting on there I used
Amazon as the case as the case then and
and so it continues Amazon is now one of
the world's most valuable companies as
you know I think its market
capitalization is about six hundred
billion dollars something like that but
it's still 25 years later not making any
money as opposed more content and so
there's a mystery here and in a sense
it's a bad example for what I want to
discuss because of all the companies
have ever analyzed Amazon is the most
impenetrable it's the what Jeff Bezos
famously is not very interested in
investors or talking to investors he
goes he goes to no lengths
- to explain in his financial statements
how he's doing it
and so there's always been an enigma at
the heart of man at the heart of Amazon
and that's the enigma I want to I want
to explore but first let's start with
some the big concepts and there are two
big ideas I suppose that lie not just
behind financial analysis financial
statement analysis but corporate finance
- the big idea in corporate finance is
this idea of value creation a company we
want we need companies to justify their
existence in economic terms to do two
things to earn a return on the capital
that investors have given them that's
greater then the investors required
return we call it the cost of capital
and to grow and so we this is the
classic strategy consultants 2x2 which
captures them we kind of hope that
company is all going to be up there in
that top right hand corner earning a
decent return a return better than the
cost of capital and of course growing at
the same time what we know and I'll tell
you about this on another day from
research and they do quite a bit of
research in this area is that it's
getting harder and harder to get to the
right of that vertical the world is so
increasingly competitive it's almost no
sector now that's not globally there's
not globalized IT the actions of people
like Jeff Bezos I suppose I might
service have torn down so many of the
competitive barriers that almost every
sector we look at it's lethally
competitive and even earning your cost
of capital even earning that minimum
required return is something that many
companies fail to achieve so it looks
neat to be up there creating value
that's always the instruction to see
it's harder and harder to do and then
the second big area but I'm going to
come to this towards the end is how we
put a number on value you know
what is what is the value of the company
when we're valuing a company how do we
do and what we understand and it follows
from the previous slide it's a company
only has value ultimately if it can
generate free cash flow which what is
that well it company makes profits
hopefully let's call as the earnings of
the business but it has to reinvest some
of those back into the business to grow
the balance sheet because to operate you
need to maintain most companies need to
maintain a balance sheet have neat
assets and if we're going to grow the
business you need to invest in more
assets the pure surplus therefore that
accompany generates is the difference
between its earnings and what it had to
reinvest and we call that the free cash
flow and that's our test so when we are
valuing a business will simply forecast
it's free cash flow to the distant
future and that's that's our evaluation
and it could be no other way because and
again casting my mind back to that to
the dot-com bubble a lot of my strategy
colleagues sort of cornered me up
against the wall in those days and st.
Chris Chris this models this is no
longer holds this model it's not there's
a new paradigm out there you know that
in this technological world there are
lots of reasons why companies can be
valuable I don't think so because you're
only get you know you're only going to
invest in a company we're gonna get it
by its give it capital if at some point
you're gonna get your money back plus a
decent required return on that money and
unless the company has pre cash flow
they won't be able to pay you that
dividend repurchase the shares or
whatever its preferred way of giving you
the many buckets and the arithmetic is
quite simple and we'll look at it later
and we'll we'll apply it to Amazon as we
struggle to in my case yet but you can
at that point we're going to open it up
and you can explain to me why amazon's
market capitalization is six hundred
billion but in it
I have no reason to doubt for that basic
principle the need to at some point in
the future directly or indirectly
generate enough cash to give back to the
investors to repay their initial
investment and a return must be what
it's all about there's no other there is
no other model right let's let's tell
Amazon's story I'm gonna go back to the
beginning and I apologize if a page full
of numbers there's a slightly denser
page coming any minute so is gritty with
fear but in fact the intuition is is
very simple what I'm going to do is look
at Amazon's profit and loss account its
income statement over the years and see
how it's evolved to see how the
businesses is making money and if we
wind the clock let's imagine it's March
or so the year 2000 peak of the dot-com
bubble
we just received Amazon's 1999 financial
statements and this somewhat summarized
is what we saw so if you recall the bit
that well I'm sure all the reason I
chose Amazon I think we all know it's
back story so what Jeff Bezos was a Wall
Street banker who in the mid 1990s
thought hmm I see an opportunity here so
hopefully it had a successful leaving
party from Wall Streeters his colleagues
gave him two billion of capital to get
him going so he headed off to the west
coast and working out of his garage
initially and that's always a kind of
that's always part of your street cred
as you know many tech companies still
start liking a garage so we're going out
of his garage he built this business and
their rate of growth yeah I mean the one
thing we can never deny about Amazon is
the extraordinary sales growth right so
and his first full year he had sales of
16 million
three years later that was 1.6 billion
so that's quite a rapid rate of growth
so he gets a tick for that but was he
making any money um well if you cast
your eye down in it again when you can
when you join it here which I hope you
will I'll explain the oh I explained the
logic of an income statement but let's
just hope it's reasonably intuitive yes
the cells are the value of the what the
goods and services you sell but then of
course the question is what are the
costs and we know we like to divide the
cost into two sorts the cost of
manufacturing if you like or in the case
of a retailer the costs of fulfillment
providing the buying it buying the books
and CDs which I suppose it mainly was
back in those early days and then
packing them and posting them in
warehousing then sending them off we'd
call that the cost of sales and then the
other main cost category is your
overhead the costs of the business and
we're gonna talk a lot about that
because that's key to understanding Jeff
Bezos SG&A so if you look down the the
line you'll see that well his gross
profit appear to be okay he was earning
a profit margin of about 18% his gross
profit was 291
but down down down his SG&A cos cost of
running the business were pretty hefty
even then in those early days about 430
million so his operating profit was
negative was minus 383 in other words
he's up his margin was minus 23% and
people commented at the terminus looks
like a charity what this guy's doing is
taking his giving books away two for a
dollar that cost him a dollar 23
effectively to to provide so it's a
charity that takes money from Wall
Street because those nice chums of him
on wall of his on Wall Street and
furnished him with two billion to fund
to all this and and gives it to people
like reading books and I'm sure you know
it seems like a good course in fact it
was even worse than that because he had
other costs of which an interesting
story lies behind these what he'd
perhaps unwisely done in those early
days but I'm sure I don't put my hand up
- I think he wasn't the only one who
spent money unwisely buying dot-com
shares so even though he wasn't calm he
spent about a billion of the two billion
his investors had given him buying
shares in other coms and almost all of
them of course as we some of us know -
our cost turned to dust in his hands so
already the auditors were starting to
insist that he write those off so here
that I think other cost was him starting
to to write off these rather hasty
investments he'd meant so in the end and
the number where the the key number that
we like to focus on for this sort of
discussion is probably a bit earnings
before interest in tax his Abbott was -
30 margin was - 30 % and 37 percent
so pretty melancholy but of course
that's what calms lutely
you wouldn't be in a comedy work making
mmm enormous losses it seems and of
course Jeff Bezos who's famously
adventurous when it comes to his
accounting had a brilliant solution
let's go back to the top this is a
extraordinary bit of accounting he did
the cost of goods the cost of sales in a
business like this we essentially
warehousing online retailer presume they
are mmm well the cost of the books and
then the cost of picking packing posting
fulfillment we call it a warehouse cost
he decided to ignore the fulfillment
cost and in fact he hid them his
fulfillment costs down below in this
category
hoping they'll be would notice because
it was rather important to to claim that
at least he even they might be making a
loss overall he had a positive gross
profit margin so his gross profit margin
was 18% why well because he's growing at
such a lick that just the simple logic
and breakeven would lead you to conclude
it yes
if those overhead costs they don't grow
much more he's going to break even
pretty soon it means still earning an
18% margin entry on every book he sells
well conventional accounting would treat
the fulfillment cost as part of his cost
of sales and if he did that here it's
actually his gross margin actually was a
mere 3% so maybe when's he gonna break
even but it's gonna take even at that
rapid rate of growth who were taking
years to start turning a profit it would
seem so
became this became a famous bit of
creative accounting Jeff Jeff Bezos
that's 19 back in 1999 well you might be
skeptical but on his side were two
worthy advocates Salomon Smith Barney
who were his investment bank as they
were then called and McKinsey and we
know we know McKinsey this is the only
time I I remember McKinsey ever getting
their hands by engaging and writing and
analysts notice so this was a separate
hefty bit of analysis an 80-page brokers
note essentially that said to the world
and it was published in March 2000 yes
yes I know those what essentially what
they said was I know there's 1999
numbers don't look too impressive but we
actually think Amazon is the best thing
since sliced bread and they forecast and
it's quite nice it's rare that people
analyst is so explicit in their
forecasts they said if you look we think
in five years time it will look
completely different his cells will have
grown to about 14 billion maybe land but
under the various categories
and on that he'll now be turning a good
profit so he's edit earnings before
interest in taxes will be positive 1.75
billion so just be patient was what they
said and you know how would you react to
that if you were the if you an outsider
well I suppose to me you'd think on the
one hand you'd recognize that the
authors are his paid advisers so maybe
they would say that but on the other
hand he'd also recognize that we don't
really know what's going on inside the
business and this has always been a
problem with with Amazon and the these
people at least have the advantage of
being insiders so they're his bankers
they are his strategy consultants
certainly in it maybe there's truth in
what they say so the markets forgave him
and it this thing sat on a market
capitalization in those days of about
thirty billion even that was making
enormous losses so this is how it this
is how it played out
over the next few years so then the year
I was just talking about was the darkest
year with hindsight in 1999 Jeff
realized he needed to start making a
profit you can't go on making losses at
that level very long because you could
to make a losses to consume enormous
amounts of cash and he was running out
of cash in fact he'd by now right about
2000 he's used up the two billion of
cash and he needed another fundraising
from investors so what he did quite
efficiently was turned the corner in
terms of profitability if you look at
the year 2000 2001 he's holding his
overhead cost no let's talk about these
overhead costs what are they well just
about any tech business you look at
overwhelmingly its its costs
we'll be marketing two types of
intangible asset building costs if you
like the cost of building your consumer
base building your brand and the cost
the technology cost the cost of building
a platform and for Amazon that those two
categories have always been
overwhelmingly what he spends his money
on and we're gonna track those through
time so what he did in the spirit of
this breakeven ambition was to hold
those costs down for a few years he
recognized a I've gotta keep on growing
and start generating some Carosa profit
and then if I hold my cost my Senate
overhead costs down I'll start to I'll
start to turn a profit I'll start to
break even and that happened in 2000
almost in 2001 certainly by 2002 he'd he
was making a profit so he's a dope
he's a dot-com who's survived and is not
making a profit he never quite got he
never quite achieved the sales or the
Abbott earnings before interest in taxes
at his mates McKinsey and Salomon Smith
Barney had predicted but never mind you
know it was it was this was an
impressive performance
he became firmly profitable at a certain
level how did he do it well he he
actually managed to get his gross profit
margin up to about 15% which is really
where it's been ever since and by
keeping the foot on the brake with
spending on marketing and technology
he broke even and if you were the
shareholder you'd be interested in the
bottom line which is literally and
metaphorically the bottom line which is
earnings which is profit after interest
and tax or were in the US would call it
net income and that had been enormously
negative for the first
ten years of his existence but he starts
to deliver some positive earnings to
investors so so far so good
then what happened well what time next
of course reminds us that Jeff Bezos is
by nature I think eternally put on this
put on earth to to prostrate investors
and to keep them guessing things seem to
be going really well
his sales growth so taking the next
decade decade up to now so the last year
of financial results we have is December
2016
the final comp sales growth remains
spectacular I mean that there are few
companies in history that have sustained
a twenty or thirty percent per annum
rate of sales growth over twenty twenty
five year period so again we can never
take that away from him but what about
profits what's happening to
profitability
well bizarrely his operating profit
simply plateaus and as a margin of these
burgeoning cells goes down and down and
down so his profit margin even though
he's now global firmly established the
market leader it would seem in his just
about all the categories he works in
which you would normally expect to
convert to fact profit margins his
profit margin declines either as
operating profit margin or his Abbott
profit margin and if you were Sheldon
well patient shareholder investing in
this position you might have been
alarmed to find that his earnings having
been well never much more than a billion
at their very best and now- again so
twenty years in to this business around
here two thousand twelve thirteen
fourteen he's he's making a loss a loss
for him
negative earnings
okay the last two years were better
we'll come back to those in a minute
so well in a minute I will discuss that
I want you to tell me what what's
actually going on here why is this why
is the company we view is one of the
world's most successful businesses and
it's now one of the world's most
valuable businesses sell unprofitable so
let me slip you click forward to the
issue of valuation here's the slide I
showed earlier what does this actually
mean what how do you value a business
like this so what I think we believe
here there's only one way to value any
business and that's in terms of the free
cash flow that it will generate and we
were like we will allow if you like the
hockey stick the J curve that is
characteristic of technology businesses
will allow these businesses businesses
to to make big losses in the earliest
that's in the nature of the game because
you're investing typically throwing
billions of cash at building various
intangibles your brand your IT platform
your technology but eventually you know
it has to be a hockey stick eventually
there's got to be some cash split
otherwise what would be the point so
what's the arithmetic of that we if we
assume that the market value of any
business is simply the value of the
projected free cash flow that the
campaign is going to earn exactly how
much would you need well here's some
back of the envelope valuation
arithmetic if you think if a company has
a market capitalization of a hundred
billion and investors once set a 7%
return which is probably a reasonable
guess as to what equity investors in
economists such as the US or the UK
what are asking for the required return
of equity investors then
they'll learn together if that asset
that business generates delivers seven
billion a year of cash forever I mean
the arithmetic adul is easy to see if
I've got $100 and it's gonna give me a
7% return it's gonna have to give me
seven dollars a year of return or if
it's gonna be a short life business
rather than a business that lives
forever correspondingly more so over a
ten-year horizon 100 billion of current
evaluation that you're putting on that
business now must require 14 billion a
year of free cash flow or if it's got an
even shorter horizon you're skeptical if
you think tech businesses really live in
such an uncertain and fragile world that
really and they'll need to deliver the
cash flow to me in the next five years
because they might not exist after that
then even more you know and you could go
on playing with the numbers so that's
the sort of measure of cash flow you
would need and if the company's still in
Grutter it's still in the underwater
part of its hockey-stick
existence then and of the payoffs
they're gonna be in the future then
correspondingly more obviously is what
you're gonna need to make up for the
discounting and to make up for the the
time value of money that is and to make
up for the uncertainty so what would you
have got so how does that look in
Amazon's case Johnathan's market cap
currently is actually 550 billion or it
was last night when I tweaked this slide
24 25 years into this company's
existence but the past 10 or 15 years
it's market cap was resolutely 30
billion even when it was making losses
so investors trusted it and they thought
okay let's put a valuation 30 billion on
that even seven years ago it was just 50
billion but it's I'm sure you've noticed
it's skyrocketed in the last year or
three well applying that arithmetic from
earlier we'd need some bringing these
ideas together become if we're going to
attribute a hundred billion evaluation
to a company and we if we thought it was
gonna live forever we'd need that
seventy billion seven billion a year of
cash flow delivering to us what is the
cash flow at Amazon well free cash flow
is quite easy to calculate for
businesses like this because again let's
go back a couple of slide to that what
is cash flow the cash you can is the
pure surplus of cash which is what three
cash flows it's simply the earnings of
the business less what you need to
reinvest to build a balance sheet and
it's a useful is a useful fact about
these companies that these tech
businesses they typically don't have a
balance sheet so Amazon has very few
assets in this balance sheet so that
makes the arithmetic particularly simple
earnings is approximate or approximately
earnings for a company like Amazon so
what herb Amazon's earnings people they
she saw in that earlier slide over the
last five years between pretty much from
miserable negative two seven four minus
two for one blah blah blah add them up
in total over the last five years Amazon
has earned three billion of course he
doesn't do the venoms so investors are
not getting their hands on that three
billion yet in fact in the whole twenty
three years of its existence I just in
an idle moment yesterday calculated
Amazon Amazon's earnings in total have
been seven billion
well again I don't need to be to
doctrinaire about this but that's quite
hard to square with a market
capitalization of 551 it's gonna be have
to be some extraordinary hockey stick
uptick sometime soon a compare and
contrast Apple whose another was another
interesting subject of study yeah Apple
of course is the world's most valuable
company thus far
market capitalization is down million
hundred billion but you know this is
strikingly different time ism because
Apple is a cash machine in every year
for the last five years apples earnings
have been about forty five billion a
year somewhere between 45 and 50 billion
a year and more ever Apple has
religiously paid every dollar of that
out as dividend to its investors so
about five years ago Apple was piling
cash up as you as you know it built a
cash pile of about two hundred and fifty
billion and activist investors I think
mr. Carl Icahn was the leader of this
particular pack but an armlock an apple
and said you know even new Apple can't
carry on doing this this is ridiculous
you've got to start paying it out and
they agreed so in the last the last five
years
Apple has paid every dollar burnings to
its investors either as dividend or by
repurchasing shares which is the same
thing so yes that's a extraordinarily
high market cap my nice basic valuation
of arithmetic on the previous slide or
couple of slides earlier would straddle
perhaps to really square those two
numbers but they much cloak them it's
much easier to see why 900 billion might
be a reasonable valuation for a company
that's lately out free cash flow of
about 50 billion a year to its investors
but Amazon is the real enigma because
it's just 2025 years in this company
it's not really reliably making any
earnings at all and in this industry
earnings equals free cash flow pretty
much nonetheless we're valuate the the
lick at which its market cap is
increasing in commitment it's gonna
catch up with that Apple fairly soon le
again idly googling yesterday I noticed
that some analysts is saying oh it's
only a matter of time between the market
cap before the market capitalization of
Amazon is 1.6 trillion that was this
analyst evaluation so what might be
going on here let's go back let's do
some financial analysis
there is a complication and it's to do
with how accounting works it's nice
basic logic of Finance says you have
your earnings your profit after tax and
then you have to reinvest to grow your
business but it's a feature of tech
businesses and on in any tech sector but
almost all the reinvestment almost all
the investment takes place in the income
statement rather than the balance sheet
and this is to do with the way
accounting rules GAAP GAAP work because
very conservatively the accounting rules
said that if you invest in intangible
assets brand R&D IT stuff like this
because we don't really believe their
assets this is the accounting regulators
we're going to enforce you to expense
them charge them to your income
statement every year and that's
potentially confusing so last so the
optimistic story about Amazon is that
he's not actually unprofitable at all
it's just a confection of how accounting
the accounting rules work and you can
see it up here see these are the two
lines you'd want to focus on if that was
your story and if every year as he's
grown and become more and more dominant
in the world what it's done apparently
simply reinvested every dollar of the
surplus back in marketing and
particularly back into IT
so he says to his people look view the
profit of the year as a fund that you
can reinvest and if it was an
old-fashioned metal bashing business a
manufacturer that reinvest would be on a
balance sheet and the profit would be
the reported profit but because it's a
tech business the reinvestment is in
intangible assets and it shows up as an
expense and so his bottom line it's kind
of zero more or less not much more than
zero which
would be consistent with the the
positive story which is that Beezus very
skillfully is built term relationship
with Wall Street such that he just tell
him to go away he doesn't care he's not
gonna give them earnings which is their
normal expectation he's simply gonna
reinvest it all but again well suppose
that is the story and there now I'm out
of my comfort zone because I simply
don't know enough about technology
expenditure and how much how much of
that expenditure is maintenance
expenditure if you like needed to keep
the business in its current size and
shape how much of it is actually growth
capex as investors we thought how much
of it is growth Expedition I don't know
but every you know he thought half of it
was growth then you'd be saying that
about maybe twelve billion is hidden
profit hidden earnings but that big
before tax you'd have to take tax up so
I don't know eight billion after tax
would have been reported as earnings in
a conventional company who invests in
its balance sheet rather than through
its income statement
so in that case his earnings is
underlying earnings might be ten you
might argue they were ten billion rather
than two billion two point three but
you'd have that with a line of
conjecture I think you'd you'd need to
pursue that's the optimistic story ten
billion with a euro Bernie's does that
justify a market cap elation capitalized
action of five hundred and fifty it's
pushing it but that would be that that's
the that's the story you'd have to tell
if you were to attribute this
extraordinary Gulf and Amazon is the
most extreme case of this have you
encountered between the value that
investors are putting on the business
and the financial performance has
reported but there is a more melancholy
story I think which is that actually he
may be just not a very profitable
business that Jeff Bezos is a great
entrepreneurs a great innovator he's
inventing it maybe we can give him some
credit for
detailing he retailing he's now taken
the cloud computing world by storm you
know he's the he's the leader in that
well but these these mark these worlds
he creates are intensely competitive
they're not really many barriers to
entry and people are not making money in
this world's only if that's the story
then that might be a fair account if
it's profitability in that if that's the
story that does make his market
capitalization particularly hard to
understand I'd quite like in a minute
you to tell me as I say I understand the
numbers but I know nothing about
technology but yeah you probably can
answer this question which of these two
stories do you think correct but before
I do that just let me tell you something
about some about his financial reporting
companies a support supposed required
actually but it's it's not enforced
unfortunately by auditors to give you
some rich segment data to help you
understand the underlying economics so
here you got a business it's now got
sells 150 billion heading for that so
it's in he's doing lots of different
things so what the accounting rules
require is that the company should
disclose a profit number of sales number
and an asset number for each for all the
segments that were CEO mr. B's us in
this case regularly monitors in other
ways give us the granularity of a data
that the board the the the board of
directors themselves would require
monitoring the company companies just
don't do this I think I constantly
campaign about this it's one of one of
the biggest failures in Accounting
auditors are not enforcing that a Jeff
of course famously indifferent to
Accounting Standards never did any he
didn't give you any disclosure at all
about
segment performance and last year in
2016 he started but it's not much detail
but it's better than nothing so what
he's now what he told us last year was
the sales by segment and the income by
segment and therefore I calculated the
margin which is the operating income
divided by the sells for his segments
what segments as well the two old
existing businesses retail North America
and the rest of the world so that's what
those two top lines are and his cloud
computing business AWS which is Amazon
Web Services which is the exciting bit
that's the bit is interested in now is
his new project and it's quite
interesting and stunning actually so you
know going back to my conjecture of a
minute ago it would appear than in the
retail business which is still
overwhelmingly the source of his sales
revenue he's making just about no money
at all it's clearly presuming it's just
a highly competitive space so up his
hundred and thirty-five billion of sales
last year
well 120 billion also come from the
retail business and the profit margin on
these retail businesses well three
percent is about zero because he's
making a three percent margin which is
pretty thin on the North American
traditional Amazon business he's making
a two point nine percent loss on the the
rest of the world all of his profits now
are coming from the cloud computing
business which is a relatively small
proportion of his cells but the entire
source of his its profit
so you know if we were to if we were
doing this under battle conditions
rather than just spending 45 minutes on
it this morning
we'd have to really sit down and think
hard about how we could what story we
could tell we've kind of value this
business what story we could tell about
the future profitability of the retail
business which is overwhelmingly still
his main business and the future
profitability of cloud computing
naturally well I'm I tend to be a bit
skeptical about these things but cloud
computing which he dominates is another
nightmarish to competitive space I mean
there were a lot of deep-pocketed big
tech businesses betting the farm on
cloud computing he's doing well at the
moment that's his main source of income
but is that gonna in such a competitive
segment as cloud computing is that gonna
generate the free cash flow that you
would need to justify a 550 billion
market cap you tell me what what shop
you in fact let's go back to this what
is financial analysis well we take the
reported numbers we organize them in
there's a simple clear way to reveal the
economics and then we try and understand
that economics that's that's what we're
doing here and Amazon is probably the
hardest business I've encountered to
explain because he's he discloses so
little and because there is this central
mystery here is that really investing
the spoils of a very profitable business
or is that simply telling us that this
is not a very profitable business to
stay in the game as Amazon he's having
to spend more and more I welcome your
people
one is questionable taxation and isn't
the assumption that the the asset driven
are poor and old businesses and normal
usual businesses that invest into tech
classes they will be taxed at high rate
across these investments however Canada
that invests into technology we say this
is just the same similar type of asset
investment and they will have tax
advantage as this would be texted much
lower rate that is correct instead the
good news yes just to embellish the
point in making boring old GAAP
accounting rules Porsche door expense
all these costs have built a brand IT
R&D and so forth but the good news is
that they are fully tax-deductible in
the year and if you're to the extent
you're incurring them in the world's
highest tax economy which is the u.s.
then that means that that's that's quite
tax efficient way of investing
but I have a a more complex question on
saris is this 12 month deadline that the
Brie executive faces especially shape or
determine exactly to deliver
professional earnings it certainly
creates the short-termism in thinking
that your thesis has kind of escaped how
would other businesses be able to do
longer term decisions and just a to
share with us you know I don't care
about the earnings oh yeah this isn't it
you're making an excellent point
and it's quite close to my heart
actually because there's a big debate as
I'm sure you know about the future of
capitalism is capitalism in crisis so on
and so forth and I've been taking part
in this discussion group with some CEOs
from here and there some of the leading
industrialists worrying about this and
we had a we had a fine meal on Monday
evening when this talk about
short-termism
the the pressures of short term the
short term is pressures from investors
this it's even worse in the US because
it's the quarterly reporting pressure
for a u.s. listed companies at least in
the UK we don't have that how can we
cure this oh you know we'll worry a lot
I've advised the government on this as
well in the past we're all very
concerned about that but Amazon of Jeff
Bezos of course famously freed himself
from that yoke from the ass as he simply
said to investors I'm not interested I'm
gonna run this business my way I may
make earnings I may not you know up to
you whether you invest in my company I'm
not even going to engage good for him
but I've got that the problem is he
might of course with the perfect example
of what hams if you don't have that
rigorous investor pressure because she's
now 25 years is that are we still in the
short term well when does the long term
start
actually never in a business they
canceled it sugar ever had stop but yeah
and that's fine maybe maybe a mission is
to change the world which you know I
think these and that probably is the
most appealing mission from from the
modern corporation but what should the
market cap obsession company people
because that companies never possibly
gonna deliver free cash flow so why
would I pay five hundred and fifty
billion free shares that's the Holocaust
would be a problem that the shareholders
the cover and investors would start be
afraid that that will never be a
liquidity event that would be one way
well if they're rational and now mostly
totally rational these investors if
there's never gonna be a liquidity event
the share price will slide down the
other side of this hill back to thirty
billion or whatever it's modest
beginnings were
so likely we would we haven't got time
to do that question justice but you can
well you can tell how I would set about
answering the question yeah
I'd get my spreadsheet er I'd say what
could possibly happen to this cloud
business I suppose the complication is
and this is what always this is
ultimately the unknown and the salvation
for these challenging market values
we're seeing in the market isn't is that
there's a missing reading which you
might call the strategic options of the
business so I mean Jeff is famously cuz
this he's got this this is his personal
drive he's not particularly interested I
mean I'm sure he mildly enjoys being the
world's second or third richest person
which is at the moment because of this
market cap but you know he would tell
you his drivers nothing to do with money
as to do with changing the world
innovation so forth and he's a serial
innovator you know I mean it's a bit of
a hop I know clearly was the connection
between his first business in his second
because the reason he's done so well in
cloud is that he is the IT
infrastructure he built to support his
Erie telling was
was natural gave him a first mover
advantage there and sinner who's going
on to do other things so how can we
quantify those I can start to build a
little mold around the numbers I've got
so I could build a nice neat spreadsheet
projected different rates of growth for
his cloud business you know developing
that number there into the future you
know what might the profit member the
operating profit from this thing under
various assumptions but we don't we just
don't know how to value these strategic
options the things he has he might do in
the future that he hasn't even thought
of yeah of course I'm never I'm like I'm
gonna be like a politician I'm gonna say
avoid answering them I'm I've set up the
arithmetic you know I think the logic is
clear and but it would be a foolish
person I mean I got away with it 15
years ago when I wrote this paper it's
just about at the top of the dot-com
bubble I'm not gonna risk my luck again
with that one just mention about the low
barriers to entry in there but he has
always shown that from the casino side
that he likes subscribers so some things
that lock you into the Amazon play and
see he has tried to use as much as he
can in his industry to do that and isn't
the best barrier to entry to creating in
fact these low profits that he reports
because Apple were printing
shai huge possibility and then one day
Google Board and Samsung board signed
off they were going to enter into the
market and look where they are now there
they've really young stop the growth in
that industry so please motivation is
empire building and creating as strong
bones as possible the best one is is
these results of human policies yeah I
agree and you can sydney compare and
contrast him an apple you know apple
throwing up phenomenal amounts of cash
this is overwhelming the cash on the
iphone I mean 75 percent I think the
iPad is essentially big iPhones did we
include those two revenue streams
together seventy-five percent of Apple's
revenues and that's why they've decided
to simply pay it all that their this is
never going to be repeated this is the
world's most successful ever consumer
product the iPhone but what that
suggests and we're already seeing it in
their numbers that you know they won't
be growing in the future they've started
their growth their sales are shrinking I
mean apples sales are lower this year
than they were two years ago it's a
one-off of history so we could project
that the boss is telling me it's time
five minutes I think this is a very it's
a much more challenging because yeah
saying I'm not gonna make any profit is
a great barrier to entry you're gonna
kill your competition but it's not a
great rationale for five hundred and
fifty billion market cap he can survive
that that's a survivable model you know
and that may be perhaps what he has him
like he's gonna carry on innovating
changing the world you know he'll
probably get into space travel whatever
his next project is fine it's his
business and he can do what he likes
really but the interesting question is
how that translates into fight into
financial performance and there's really
only one game in town
it unless it's gonna be free cash flow
unless you're gonna as Apple have been
doing returns some big avalanche of cash
to investors at some point it's not
worth anything from an investor
perspective may be worth it's worth a
lot from a social perspective in terms
of the health of our economy from an
innovative perspective but from the
narrow through the narrow lens of
shareholders who are paying 550 billion
for that there's got to be some
computing space you know it seems it's
very office at that stated that you
should be investing in and if he has all
of this very you know valuable database
of very engaged they could be supplied
with you know quality content and we've
been saying I've been saying that about
Amazon for about fifteen years but the
question is when's he gonna start
monetizing it these are in a consecutive
these are very valuable assets he's
built but when's he gonna start
manifesting them there's not twenty-five
years and we will see I agree with
everything is saying that and I think
Amazon is a fascinating study
all right literally can't wait to get
the report because how this mysterious
game is play is gonna play out as it's
all the most intriguing questions we
have corporate questions we have these
days it's fascinating and continuously
puzzling I find so in a sense in that
sense I suppose Amazon's not the best
example to advertise the fruits of
financial analysis because it is
actually the most impenetrable set of
financial statements but I hope at least
in this last hour sort of laid out the
landscape laid out the approach that we
always take and it is a it's if you
organize the numbers in that way and
tell the story of a reasonably long
horizon you get an enormous amount of
insight and I think you know in the case
of Amazon that insight would just give
us a list of questions so we know what
to write on our a4 pad when we're going
to go meet Jeff bezel whether he'll
answer them of course
an open question I think it's before you
put up your time card and then one
minute ahead of time ice on the slide
with the financials of what we were
speaking about whether or not these the
appetite the marketing costs hang on
tech not technology costs were
maintenance capex or investment topics
would would there be any sense in seeing
if they're growing in the same rate the
sales and what the link is between the
growth rate of the over the hell you see
because you'd be then you're never gonna
get this level of detail from Vsauce you
know you'd need to you need some insight
okay I think the more profitably becomes
theory a the more proportionately more
he spends on brand and technology so in
that sense you'd see them growing up for
us in an old-fashioned capital intensive
world you'd expect economies of scale so
yeah which is what you're suggesting the
proportion of expenditure needed per
dollar of sales will decline in the
economies of scale but we don't have
that we can't we help do we just can't
make that split we just don't have the
data he presumably knows the answer but
nobody else does thank you very much
[Applause]
you

---

### Business lessons from private equity and corporate acquisitions | London Business School
URL: https://www.youtube.com/watch?v=vOWxBetdjaE

Idioma: en

the purpose of this presentation here is
to give you an overview of kind of what
we do in these executive programs and
combining some materials that we have
both in the private equity class but
also in the mergers and acquisitions
senior executive class and I encourage
you to be open and ask questions and
have a discussion this is how we run our
classes here are very interactive and we
we the way we view education here is
it's kind of a multi-dimensional
exercise where participants learn from
us from instructors but also we learn
from participants and participants learn
from each other and their experience so
that's part of the if you want the
experience of Education here at London
Business School this is just a very
basic outline of my presentation so I
would like to give you a bit of
background about the M&A market about
private equity investment model if you
are not familiar with private equity
investment model and give you some work
that I have done with my colleagues here
at London Business School because here
at London Business School is not just
about imparting information that we
learn from outside we actually create
knowledge ourselves so with our own
research we try to understand the
markets try to understand in my case and
my name I kids and in the private equity
market and I'll end up with some
interpretation of what I think explains
the results that I will be showing you
I'll keep it very light I have a lot of
graphs but feel free to ask me any
questions you have so let me just start
with the basics a bit of background and
I wanted to start with this graph it's a
very interesting graph and I don't know
how many of you are aware of this but
over the last as you can see from 2005
so from naturally 1995 to 2015 so we
have about 20 years of data now the
number of publicly listed companies on
the US equity stock exchanges as dropped
in half and this is a very big result
this basically and we can talk about it
from
but is showing you that the number of
publicly listed companies has been
dropping dramatically over time right
the market capitalization overall if you
if you look at the Standard and Poor's
500 index or if you look at the Nasdaq
index or whatever index you want to see
has been increasing over time but
overall the number of companies that are
listed on the stock exchanges has been
decreasing why do you think this is the
case could be that there's a lot of
private equity capital out there and
because you have that capital available
a lot of companies decide not to go
public they prefer to remain private and
there are some advantages to being
private we can discuss about that later
other explanations consolidations it
could be an M&A game where a lot of very
large companies are buying the smaller
companies that are also listed on the
stock exchange and as a result you have
fewer companies listed but obviously the
market capitalization is the same or you
might have very large companies that
acquire private companies before they
get listed on an exchange that happens
as well so these are kind of the main
two reasons why we see this significant
drop in the number of publicly listed
companies yeah so here is some data that
I crunched using Thomson one which is a
very large provider of M&A mergers and
acquisitions data and it shows you the
extent of mergers and acquisitions the
transactions the deal flow that you see
in the market over time so as you can
see that you kind of pick up the tops of
the cycles so we have 2000 there was a
very very high cycle with the telecom
industry sorry - on and then we have the
very recent peak before the credit
crisis and then we see yet another peak
these days right we can see that the
numbers are quite high so numbers that
you see here are in trillion dollars but
that gives you some idea about how
active the M&A market is and how these
potential transactions how these
transactions contribute to the con
Sol edition of the publicly listed the
number of publicly listed companies out
there yeah now if you look at this data
more carefully you will see that on
average about 25 to 30 percent depending
on the year and sometimes even forty
percent if you look back in 2007 so
anywhere between 25 and 30 percent of
the M&A market is actually dominated by
private equity funds I didn't yet
explain what a private equity fund is
but I will do so in a minute but just
again give you some idea that the M&A
market is driven by two types of players
you have the very large corporates
Microsoft's of the world
Amazon's of the world G's of the world
that by companies but you also have a
lot of private equity funds whose main
purpose is the reason why they exist is
to buy and sell companies we'll talk
about that in a minute
yeah and they take about 30 percent of
the M&A market out there now this is the
capital that is under the management of
private equity funds and this is the
latest data that I have available from
precone which is the main source of data
for private equity as you can see since
2000 when private equity funds hand
under management about five close to
five six hundred billion dollars so
since 2000 17 years later 16 years later
the money under management is close to
two point six trillion right so between
six hundred and two point six trillion
we are talking about a market that went
up almost five times so the amount of
capital that is under the management of
private equity funds over the last 15
years went up five times it's a
significant growth very very significant
growth and what you see here kind of the
data is split in two parts you have
assets under management that currently
are sitting on these private equity
funds balance sheets so investments they
have already made in companies but you
also have this
area which is what they call dry capital
this is capital that has been committed
to the private equity funds by investors
but not yet invested and it is expected
to be invested over the next 3-4 years
so you can see that at the moment the
amount of dry capital which is capital
that the funds have available but they
didn't invest yet he's reaching now
about 36% of the overall capital
allocated to the private equity funds
waiting for an opportunity
so typically investors in private equity
funds which are typically pension funds
sovereign wealth funds very long-term
investors
commit the capital to the funds then
funds having these commitments they go
out there and they try to find targets
and it takes three four years to find
these targets over this three four year
period the capital committed to the fund
but not invested yet is called dry
powder and it's interesting because I
was at the conference this week and then
another one last week in private equity
and people are very worried about the
amount of capital that is sitting out
there uninvested at a time when the M&A
market is actually close to its peak
right so you see there is a lot of
capital out there is a lot of liquidity
in the market and you wonder whether the
private equity funds will be able to
allocate over the next three four years
close to eight hundred and seventy
billion dollars to buy companies yeah
and this is the global market by the way
so two point six trillion this is how
much is under management at the moment
in private equity do you think that two
point six trillion is a lot of money or
maybe not what is your view on this
seems like a large number right what's
your take on this number do you think
the industry will keep growing like this
see if you invest in a company and the
stock price shows like that you're
you're a very happy investor right so
whenever you see this kind of
hands you want that how far they can go
right do you think that the industry
will keep increasing what's your
expectation is the dry powder okay two
point six trillion do you think it's a
lot of money how many people raise your
hand how many people think that two
point six trillion is way too much for
private equity funds randomly I mean I I
know we don't have too much background
here but what is your sense just the
intuition raise your hand if you think
two point six trillion is a lot of money
okay so I presume that the rest believe
that two point six trillion is not a lot
of money right okay so it's very
important to have some sort of benchmark
we need a benchmark to understand
whether two point six trillion is high
or low
and my favorite benchmark is a asset
manager based in the u.s. called
Blackrock have you heard of Blackrock
Blackrock is an asset manager that
invests in public equity markets and do
you know how much capital Blackrock one
asset manager in the public equity
markets has how much capital under
management you heard about Blackrock
video is the largest asset manager in
the world investing in public markets
they at the moment have under management
five point two trillion so one asset
manager in the public markets it's
almost double the size of the global
private equity industry the hundreds and
thousands of private equity funds that
you see out there are now half of what
Blackrock is managing in public markets
and Blackrock has a lot of
exchange-traded funds they buy a lot of
indices most likely most likely your
pension your savings somehow end up in
some Blackrock account sent by your by
your pension fund so if you take
Blackrock as a benchmark then you might
think that the industry is actually not
that big right
and I will show you some data as well on
the performance of the industry given
that the main investors in this type of
vehicles are the pension funds and given
that the pension funds are facing at the
moment a very low return environment
very low yield environment if you want
they're all trying to allocate more and
more capital to higher yielding assets
and private equity is one of them is an
alternative asset that is producing
pretty good returns and the average
long-term returns net returns produced
by private equity according to the data
is somewhere around 14% right so if you
have a pension fund manager you want to
gain 14 percent per annum for the next
10 years by putting money in a private
equity fund or you want to buy a
government security that will give you
at the moment how much per year you
think in the US it's not zero but it's
actually less than two percent so if you
buy Treasury bill with a ten year
maturity yeah it will give you about two
percent per annum which is very little
compared to what private equity could
give you so that means the expectation
is that a lot of pension funds will keep
allocating to private equity and in fact
increase their allocations to the
private equity industry because at the
moment is still generating much higher
returns than one would see in the public
markets or that fixed income markets
government debt or corporate debt
what about the Christina Christ we saw
that because at 2008 at night it was a
dramatic change in paradigm with the
capital yeah you need that it's this
stupid see 2.63 and US dollars
oh my expectation is that it will double
or triple in the next five years double
or triple again just because there is so
much demand for higher-yielding assets
now the the numbers that I'm showing you
here this two point six trillion is
actually an understatement of the assets
under management by private equity firms
because since the credit crisis private
equity firms have come up with a new
product on the market called a private
debt fund so the money that I'm showing
you here two point six trillion is money
that is used to buy equity in private
companies but on top of this you have
private equity firms that manage private
debt funds instead of providing equity
to private companies now they provide
debt instruments to private companies in
the process replacing the banks and this
is a this is a evolution as a result of
the credit crisis because the banks had
been pulling back from lending
especially too risky private companies
that are not rated and that involves a
lot of penalty on their capital as a
result private equity firms started
raising this private debt funds to lend
to these companies that they understand
very well because they invest in their
equity yeah so if you take the private
debt on top of this if you take some
other strategies that are managed by
private equity firms such as private
equity real estate private equity
infrastructure and natural resources
also true private equity fund structures
managed then the capital total capital
is getting closer to five trillion and
again the private debt element has been
growing even faster than what I'm
showing you here so there is still a lot
of interest in private equity funds or
private debt funds managed by private
equity firms yes
and from the growth of essentially
high-yielding private equity and low
yielding fixed income growth because as
the private equity business model relies
so much on leverage yeah yeah
so certainly return on capital does it
change that's absolutely the case so if
that is very cheap in the markets as you
mentioned private equity funds when they
buy companies very often especially in
developed markets not in emerging
markets but in develop markets like US
UK Europe they'll be using debt to
acquire those companies so imagine that
I'm running a fund and I buy a company
for $100 I'll take $50 from the fund to
buy the company and the other $50 I'll
borrow it from a bank or from the
capital market to help me pay for the
acquisition price and if the debt in the
market is cheap then I'm more likely to
take that debt and I'm more likely to
acquire more companies because I have
more capital you know I have more
firepower if you want but that's that's
absolutely the case now before the
credit crisis the debt levels in a deal
used to be 75 80 % so I buy a hundred
dollar company I put $20 from my fund
there are 80 dollars is coming from a
set of banks today in today's market the
banks are not willing to lend as they
used to anymore either they don't lend
at all in which case they are replaced
by these private debt funds that also
provide funding for private equity deals
like that or if they land do not provide
more debt than 50 percent typically 5050
so that they have some buffer in case
the deal doesn't work out but so so
certainly because there's so much
liquidity in the market when that
capital is available obviously private
equity funds have more of that to buy
companies which is not different than
the real estate market right
I mean imagine that you you buy a house
in the US and the lenders in the US come
to you and they give you
loans without you putting any equity to
buy the house right money what do you do
if you are a consumer that are offered
this product you just buy houses right
because you have zero risk that's how
you end up with a real estate crisis
right when the banks lend too much
obviously you end up using that debt
that is cheap then you don't care about
the price of the asset that you are
buying and you build a crisis but
certainly the market if you look at the
there are lots of indicators about the
healthiness of these private equity
deals that we see today and the levels
of debt today are significantly lower
than what we used to see plus private
equity deals in emerging markets do not
use that because banks in emerging
markets do not understand these
transactions and they are actually more
conservative than the banks here so this
is the trend and expect this to keep
going up you know if you think about it
in any economy the percent that the
value of private companies versus the
value of public companies is typically
quite tilted towards private companies
right if you take UK for instance if you
look at the value of all private equity
companies here in the UK and you compare
that with the value of all publicly
listed companies here in the UK you'll
end up with a share of 70% to private
30% to plot private to public if you go
to countries like China or India the
percentages are even worse for private
companies makeup sometimes nineteen
ninety five percent of the value and the
rest is publicly listed the point I'm
trying to make is that most of the
companies out there are actually not
publicly listed and those private
companies out there need capital who's
providing capital for these private
companies or the number one providers
the number one provider is the banking
system right banks are supposed to lend
to these private companies but because
of the credit crisis because of the
recent banking regulations
banks have been pulling back on lending
to these companies and that void is
filled that funding up is now filled by
private equity funds that have been
going up yeah and to be very clear
private equity funds are not regulated
so these are not instruments that are
regulated in terms of disclosures you
and me as retail investors will not be
able to invest in these funds they are
only addressed to institutional
investors and those investors typically
are pension funds yeah so how many of
you are familiar with the way a private
equity fund works raise your hand you're
not familiar at all okay so given that
we talked a lot about private equity
funds let me just show you how it works
basically you have a private equity firm
this is the private equity firm here you
might have heard of some private equity
firms out there such as Carlyle KKR have
you heard of KKR Blackstone they are
very large for instance what surprises a
lot of people I often asked in my class
who are the largest employers in the
world the largest employers in the world
in terms of employees companies any
guesses
I'll kick yeah so the largest employer
in the world is actually wool Mart they
have two million employees yeah the
second largest employer in the world is
a company called Foxconn that makes the
iPhones and the Apple products and so on
they have a 1.1 million employees it's a
Taiwanese companies lots of operations
in in China but number three employer in
the world surprisingly to 99.9% of my
students is actually KKR which is a
private equity firm the few people have
heard of they have a million employees
why because their fans have been buying
a lot of very large companies right so
when a fund controls a company the fund
is controlled by KKR of course KKR is
employing is responsible for this 1
million people yeah Carlyle is the same
close to a million employees Blackstone
very similar about 800,000 employees so
private equity firms have become
actually quite large and they are quite
under the radar screen so the way it
works yeah oops you have a private
equity firm such as kikyo and KKR but
the frequency of three or four years
will be raising a private equity fund
which is a new entity you think of the
private equity fund as being a new
company a new investment vehicle this
entity is created with the purpose of
buying private companies here
yeah is that clear the capital that
comes to this entity is provided in a
proportion on average of 2% by KKR or to
be more specific the employees of KKR
the private equity professionals from
KKR put their own personal money into
the fund about 2% and the rest of 98% in
the fund on average is coming from these
types of investors pension funds
sovereign wealth funds and down funds
family offices you name it
yeah but typically as you can see the
car
one denominator for all these investors
is that their institutional
sophisticated high wealth investors this
is not for the retail market yeah the
reason why this is not for retail
investors is because nobody in private
equity wants regulation the moment you
get retail money you'll be regulated by
financial authorities all over the world
right and you don't want that because
private equity is meant to remain
private
a lot of these private equity firms have
investment strategies that are quite
unique and they have skills that are
quite unique and if they don't want to
make those skills publicly available to
everybody yeah now this entity this
investment vehicle has a limited shelf
life of ten years so we create an
investment vehicle with a life of ten
years
with a single purpose of buying
companies holding them for a period of
four five six years yeah and then
selling them by the time the fund needs
to be liquidated so we are supposed to
liquidate the fund in year ten in
practice it doesn't really happen like
that
maybe the fund on average a buyout fund
will be having maybe about 1215
companies in its portfolio and a buyout
fund can be as large just you know 25
billion this is the latest private
equity fund raised by Apollo Capital I
don't know if you heard about this
private equity firm Apollo the here is
the largest fund this year it can be as
small as a hundred million dollars of
course the very large billion dollar
funds will be buying very large private
companies on sometimes even by publicly
listed companies and delete them that
happens quite often if you live in the
UK probably you know have you heard of
boots it's owned by K here it's a twelve
billion deal that was bought by kik here
a couple of years ago they're running it
very well and very soon you'll be seeing
an exit which probably will take place
through an IPO so these funds buy on
average 12 15 companies in the
Folio they run them by ear ten they need
to sell most of them but sometimes is
not possible they might have one or two
left in that situation the investors
together with the manager agreed to
extend the life of the fund and that
usually happens in increments of two
years so every two years they meet okay
we still have a company in the portfolio
let's extend the life of the fund by
another two years until the company gets
to a you know better level or we can get
more money for this company right so but
most of the funds return the money back
to investors before year ten with some
returns but in terms of actual
liquidation of the funds you might see
that in 14 years or 15 years yes
no no this is a an agreement or just an
agreement between these investors and
this manager some funds could be
especially funds in China at the
beginning the private equity industry in
China when it started the funds were
only five years funds or seven-year
funds now they also switched the
ten-year horizon because ten years is
kind of enough to give the manager
enough time to improve the operations of
this business and then sell it if it's
too short
it's not really you know the value
creation is very difficult to justify
right and if the fund is way too long 20
years let's say then it's not clear
whether these managers are doing
anything for 20 years the investors want
to see some returns quicker right so
there is a balance somewhere the 10
people so the 10 is actually not too
long and not too short there are some
funds out there ultra long dated funds
that have a 20-year maturity they are
very very very rare it's because some of
these investors here in particular the
sovereign wealth funds and the very
large pension funds they have very long
investment horizons they don't care
about the 10-year horizon they care
about 20 years 30 years and they don't
want the money back in ten years because
when they get the money back they have
to reinvest it in a new private equity
fund and that's a process that takes
time and money instead they would rather
have it in a fund for 20 years but those
20-year funds are very very rare all
clear yes
pe phones we talk about segments of time
2 years 5 year 10 year 15 years etc
right so if for example private equity
firm invest in a complete a state 1
billion US dollars in a segment of time
some will look for 2 years a returning
that's been simple will look for 5 year
investment some for 10 years investments
and so forth what is the rate of return
in these ok this is a very good question
so let me explain how it works for first
of all given the 10-year life of the
fund the fund the in the first four
years is a four five year period to
invest the money so we will be investors
will be committing imagine that we are
investors in a fund we will be
committing money to this fund when I
commit my money to this fund it's not
like I give them the money yet now I
have made a commitment a legal document
I write that if you need my money I'll
give you the money now these fund
managers once they get these commitments
they don't get the money yet they get
the commitments from investors once they
get these commitments they go there and
they try to find targets when they find
a company like a billion dollar company
then they call us within 10 days you
need to give me the money because I
found a deal they have four years or
five years to do that if in five years
they don't find these investment
opportunities they lose the money they
lose the commitments so obviously there
is pressure to invest the money
otherwise you lose it yeah so the first
four or five years the fund is investing
the next four five six years the fund or
a fund manager to be more specific is
running these companies right and then
they're supposed to exit them now here's
the trick and this is the uniqueness of
the private equity investment model
these investors that commit ninety eight
percent of the capital to the fund while
committing the money they also entirely
give up that decision rights with
respect to how this
money is invested entirely and on top of
that the money is locked for 10 years
that means you can't pull the money out
this is a closed-end fund when the fund
is in year three or year four if you as
an outsider want to put money into the
fund is not possible
the fund is closed the fund was raised
was committed in year one if you didn't
commit at that point you can't get into
the fund right now yeah it's a closed
vehicle what do I mean by giving up
decision rights the only thing that this
investors decide is how much money to
put in the fund
once they committed the money to the
fund at that point from that point the
fund manager or the fund advisor also
called the general partner in this
particular equation has full authority
on how the money is invested when the
money is invested how to run those
companies and when to exit those
companies yeah so imagine that this
investors outsourced the investment
process to these people give you the
money commit the money for 10 years I
have no control over my money and
hopefully people that got my money are
people with reputation and of course I
need to check on them who are they what
is people they take my money they need
to have the skills that I expect them to
have to invest my money they need to
have the reputation they need to have
the integrity and the transparency that
I expect from a professional fund
manager but otherwise they will decide
on how my money is run and I cannot tell
them when to give me the money back they
have ten years to do so until year ten I
can't call my money back
so to answer your question I think that
was your question if these investors
have different investment horizons one
one's the money in three years another
one wants the money in seven years too
bad
the manager decides when everybody gets
the money and everybody gets the money
at the
same time on a pro-rata basis so if you
put $30 in the fund and I put $20 in the
fund the manager has an exit yeah
they will be splitting this money that
is exited distributed to us 30 20 you
get your share which is you know 30 you
know 30% of the fund I get a 20% on the
rest get the remaining 50% yeah is that
all
now of course the managers get some fees
to do this and I'll not get into the
fees because it's a very complicated fee
structure but suffice to say that these
managers are paid a fixed fee which is a
function of the size of the font we call
that a management fee on average 2% so
if we have a billion dollar fund the fee
of 2% comes to how much 20 million per
year and this year of 2% on average is
paid for the tenure of the fund so every
year the manager is getting 20 million
in fees to run this fund on top of this
management fee which is independent of
the performance of the fund the managers
gets a so called performance fee that
means the better the fund does the more
money the manager gets right that
performance fee is called carried
interest and in private equity on
average that is 20% of the profits so if
I have a $100 fund and this $100 fund in
10 years
goes up in value to 300 so it generated
a profit of 200 the manager will be
getting 20% of 200 some funds also have
hurdled rates especially in developed
markets and that hurdle rate is
typically 8 percent that means before I
get my share of the profits of 20
percent I need to pay investors 8
percent per annum on top of their
capital right so I put $100 in the fund
I need to get 8 percent on that $100
after I get the eight parts and then the
manager can get the share of the profits
now as you can imagine this fan turns
are highly negotiable right and the font
the font turns differ from one investor
to another in the same fund right if I'm
a large investor and I give you 50% of
the capital in the fund of course I'll
be negotiating lower fees for me you are
not be paying 2% on my capital maybe
I'll be paying 1.5% management fee and
maybe the carried interest might not be
20% I might negotiate it down a bit
somebody else investing in the same fund
lower smaller investor than me might be
getting worse terms so the fund fees and
turns deferred from one investor to the
other that are in the same fund yeah now
these funds private equity funds have
different investment strategies I kind
of mentioned the buyout funds the buyout
funds are the key key ours Carlyle and
Blackstone what they do buyout fund
typically acquires a company requires
the control of the company and when they
buy these companies they also use
leverage from a bank like I mentioned
earlier and this is the biggest chunk of
the private equity market I would say
about 60% 70% yeah more or less there's
another strategy that private equity
funds follow and that strategy is not
invest in mature companies and take
control like the buyout funds but
instead invest in young companies with
minority stakes not controlling stakes
minority stakes and without any leverage
those funds are called venture capital
funds they invest in startups technology
companies you've heard about them a lot
of people talk about them right and
that's another ten or so percent of the
market so venture funds are actually
quite small compared to the buyout funds
yeah
or you might have growth funds right a
growth fund invests in a mature company
takes a minority stake in that company
typically 23
percent and the capital that they put
into that company is used to grow the
company to the next level yeah she's not
buying investors out all the capital
goes stays in the company helps grow the
company you see a lot of growth funds in
emerging markets yeah and you can have
also a private debt fund that works
under the same principles so instead of
providing equity to this companies
provides debt it will be a private debt
fund and the fee structure might be
different a bit maybe the management fee
is not two percent is only one percent
and maybe the carried carry interest or
the performance fee is not twenty
percent maybe fifteen percent or ten
percent depending on how you negotiate
yeah is that all clear
so very recently in this market just to
close my discussion here investors
started to coin invest with the private
equity funds so they invest in private
equity firms but outside the funds so if
I'm a very large pension fund Canadian
pension fund and I invest in a KKR fund
I give them two hundred million to
invest KKR finds a large company they
can say okay do you want to invest in
this company also in addition to your
commitment to the fund this is called a
coin investment right so I can put
another 100 million but straight into
the company without going through the
fund the advantage of co-investments
this 100 million is that on that 100
million here or not be paying any fees
they source the deal they execute the
deal
they run the company all that but on my
amount that is co invested I don't pay
any fees so overall they manage 300
million of my money but I pay fees on
only 200 million so that's a way for
managers to incentivize investors to
give them money in the fund by promising
these co investment opportunities and
they usually come when the DSR may be
larger than then what the fund can
handle right and the funds have some
risk management approaches to investment
for instance you cannot put more than
ten percent into a fund into one company
you need some diversification within the
fund right and if that investment
requires more than ten percent of the
capital then you make up the difference
by asking investors to coin invest with
the fund yeah hope I'm not getting too
technical here let me know if I'm going
too fast so quaint investments are a
very big development just because they
have fewer fees but also it allows these
investors here to work together with a
private equity firm and see how they
operate internally because otherwise you
didn't know how they do it right and
maybe next time they raise a fund
given that you have worked with them on
these investments you will be more
informed when it comes to allocating
your capital to this particular manager
because they're good managers and bad
managers out there yeah so that's that's
the private equity fund now let me
switch a bit the gears here and talk
about corporate acquisitions as I
mentioned earlier we have private equity
funds buying companies the same time we
have corporates buying companies and
these two compete in the M&A market yeah
and they have very different approaches
to investment that I would like to touch
on a little bit now if you look at the
data overall corporate acquirers the
very large companies that will acquire
other companies on average have been
quite unsuccessful so most of the M&A
transactions initiated by corporates
actually lose money I don't know if you
are aware of that or not but
unfortunately that is the case but of
course this is an average that hides a
lot of things and there are some
companies that are very good at
acquiring other companies and there are
some companies that are actually quite
bad and what does the data tell us the
data tells us that corporate
acquisitions tend to be very very
successful when they meet this criteria
in other words is this corporate a
serial acquirer if yes that means they
have developed some expertise in the M&A
market and that will predict more
success M&A success yeah is this
corporate acquirer
acquiring another company in the same
industry if the answer is yes and it is
more likely that deal will be a success
because if I acquire in the same
business in the same industry and
probably understand that industry very
well and on top of that as a corporate
acquirer I'm better able to extract
synergies with my target because that's
an element of value creation in M&A
deals right
another indicator of success in the
corporate M&A market is whether these
corporates acquired private companies
versus public companies the private
company acquisitions tend to be more
successful than the acquisitions of
public companies why why do you think
that's the case the buyer is a corporate
the buyer is a corporate so who are the
corporates that are successful those
that are serial acquirers that means
they have an M&A team that does this
over and over again so obviously they
build some expertise those that invest
in the same industry as de as they are
the industry they operate those that
invest in private companies why do you
think investing in private company
companies brings more success than
investing in another public company
can't be less complex what other
thoughts you might have that's exactly
the case right the publicly listed
companies tend to trade at much higher
multiples they're more expensive than
private companies private companies are
a bit more opaque they're illiquid
assets you don't have as many buyers as
you might have in the public market
right other reasons maybe private
companies for instance are not as
professionally managed as publicly
listed companies right a lot of private
companies are managed by their founder
owners that you know sometimes start
from very little and all of a sudden
they end up managing a very large
company they don't potentially they
don't always have the skills to manage a
big company even though that company's
private and you know when you're quite a
private company there there's more scope
to generate value by professionalizing
the internal processes yeah corporates
that are very active in emerging markets
tend to be more successful if they are
quite emerging markets targets why do
you think that's the case
growth rates usually merging markets a
very high growth rates and many
corporates see the entrance in emerging
market as basically a way of building a
channel to distribute their own product
right I'm a European UK based company
for instance I caught a company in India
yes I want to maybe have access to their
products that what they make in India
but also I'll lose this opportunity to
distribute the products that I'm a here
into India because now I have this
Indian operation that will help me
better access that market it gives me
the expertise in that market and finally
the more successful corporate
acquisitions are those that invest early
in the growth cycle right if you look at
the media and you see that everybody is
doing M&A if you see that the M&A deal
flow is at a peak level probably are
very late to the party right that means
when you start buying at that peak of
the bubble
you probably overpay for targets and
probably you don't get the right targets
anyway because those are the ones left
it's like going to a party right if you
show up late to the party you eat
whatever is left on the table right and
you drink whatever is left in the glass
and in the bottles right so you don't
get necessarily the best choices so
these are this based on data
I mean I'm showing you these statements
here but there's a lot of data there's a
lot of analysis that people try to
understand what are the success factors
in this market yeah now so here's the
background right I kind of told you
about how the private equity market has
evolved a bit I told you a bit about how
private equity fund is working and I
also told you a bit about the success
factors in the corporate acquisition
market now this is research that I've
done with my colleagues here at London
Business School in which we analyzed a
very large set of M&A transactions in
Europe yeah
the main purpose of this analysis and we
have a lot of tests a lot of numbers a
lot of data or not bore you with that
I'll show you just two graphs to give
you the idea behind the whole research
but what we wanted to understand is
whether private equity firms do a better
job as acquirers than corporate that's
the basic idea right and we have
evidence that private equity funds do
better than the corporates but what we
don't know is how they do it what is
exactly under the hood what is it
exactly that private equity firms do to
get these very successful deals in the
M&A market yeah so at a deal level value
is created through three channels if you
acquire a business you you can create
value through three very basic channels
let me explain one at a time
one is the leverage Channel right
imagine that I buy this business and can
be a private equity fund can be also
corporate corporates also have access to
leverage and in fact when corporates
take leverage to acquire businesses they
have access to very cheap leverage right
if you think about Apple or Microsoft
they can go and borrow in the market for
very little rates well if a private
equity fund goes to borrow the interest
rates would be much higher as you can
imagine right now imagine that you buy a
company for $100 just for the sake of
the example and you put down 20 in
equity the other 80 comes as debt from a
bank are you still with me yeah that's
the only thing you do you sell this
company five years later also for $100
still with me yeah and I can still make
a significant return on this deal I bite
for $100 and sell it for $100 but the
only thing that I do between buying and
selling is to pay down the debt that's
the only thing I do nothing else I don't
increase
the EBI of the business I don't increase
his operations I sell it at the same
price at the end of the day right so if
I start with 80 in leverage at the
beginning so I put any equity and when I
sell it
the ratio of flips yeah I have 20 in
debt by the time I sell now equity is 80
well my investment grew from 20 which is
my initial equity ticket in the deal to
80 I made four times my money by simply
servicing the debt that I took to buy
the company that's what we call the
leverage channel are you comfortable
with that
of course it worried works for companies
they can service the debt you never buy
a company that doesn't generate free
cash flows that will allow you to pay
down the debt otherwise you'll default
on that debt and when you default on the
debt what happens you wiped out and the
company is taken over by lenders right
you lose the business so that's the
leverage channel there is an operational
channel to work as well let's assume
that I buy this company for $100 no
leverage yeah and I buy this company at
10 times the eBay da an ibid is 10 as
well
right 10 times 10 equals a hundred I
still with me a lot of businesses in the
M&A market their value is coated as a
multiple of EB da it's very very common
in this market right so this business is
trading at ten times the abida right and
when I sell it I also sell it at ten
times the Aveda the only thing that I do
between buying and selling in this
particular channel is to increase the EB
de right so I buy the ten times David
aji be de-iced and when I sell it I said
it at ten times David ah but even if if
the EB dies fifteen I sell it for a
hundred and fifty now so I've made a
return of fifty on this particular deal
yeah that's the operational Channel the
valuation multiple channel is the other
one
I buy the business at ten times the EBI
EBI Stan but when I sell the business
five years later he is still tan but the
multiple is not 10 anymore could be 15
or 20 yeah and it might be a situation
where I'm a very good cleaner of deals
I'm very good at sourcing these deals I
get a company that is undervalued I buy
the 10 times de vida today and I sell it
at 15 times David ah three years later
and that's my skill right so these are
the three channels and of course this
channel interrupts right so if I put
leverage if I improve the IB da and also
find an undervalued asset you can see
that I make value throw these three
channels and my equity returns on this
deal is obviously much higher so this is
the background behind our analysis right
because now I'm showing you some numbers
so that means that you create value in a
deal if you are able to buy cheap if you
are able to increase the eBay da and if
you are able to put a lot of debt that
could be serviced by the deal yeah is
that okay so here's some data right so
we take all these deals in Europe that
are initiated by private equity funds
and then we also take all the deals that
are initiated by corporates on top of
that as a benchmark we also look at
private companies that don't change
their ownership as another benchmark
right so here's what we find
initially we look at the extent or the
EB Dom multiple that this acquirers pay
for the targets right and what you see
with the red line here are the EBA de
multiples paid by corporate acquirers
and with a green line you see the EBA de
multiples paid by private equity funds
yeah now very simple graph there's a lot
of analysis behind it but what this
graph is showing you is that most of the
time most of the time when private
the funds acquired businesses they pay
less than the corporate acquirers yeah
oh they are converging because obviously
the market is becoming a bit more
competitive there are a lot more private
equity funds out there so with the
industry used to be small other
industries significantly bigger so
there's a lot of competition for deals
yeah
and also to one extent one reason why
there is convergence is that also
corporate acquirers have been learning
from private equity funds so corporate
acquirers also started to use leverage
oh my god we have this nice company why
we're using our cash flows why don't we
go to a bank and borrow from a bank at
2% or 3% and use this money to acquire
this target yeah
so of course this is a reflection of the
fact that the market is becoming more
competitive but regardless on average
what we see that they pay less yeah and
of course the last year here they are
kind of equal there is no significant
difference between the two but on
average you can see that private equity
funds are able to pay less and I'll
explain why for the recent years is
about the same so I I don't have the
latest data but continuously private
equity funds are paying less than the
corporates
yeah so the Green Line drops again a bit
yeah I I don't have the latest data now
but and I'll tell you why there is a
rational explanation for this first of
all one might argue the reason why
corporates pay more than the private
equity funds is because corporates when
they acquire a target they also get what
did they get when they acquire a target
synergies well the private equity funds
they don't get those synergies right
because they continue to manage these
companies independently right see those
companies that you saw here they're
independent
run with their own management they don't
change anything right well when a
corporate acquires a target they
typically would want to integrate it
right and that means some cost savings
and because of these cost savings they
might be willing to pay more for the
target that's one explanation yeah it's
not the main one actually and I'll give
you another explanation once we we we go
through all these graphs so here's the
first finding the private equity funds
are paying less the second finding
significant funding that we have in this
paper is that once they acquire these
businesses the private equity owners are
significantly better owners so there is
a better corporate governance mechanism
because it seems that once they acquire
the targets private equity owners which
is this light blue line are able to
increase the sales much faster than the
corporate acquirers which is the dark
line they're able to increase Aveda much
faster they're investing in more assets
and in particular more fixed assets yeah
so you can see that on the operational
side not just the purchase side buying
cheap private equity guys are actually
more aggressive they run this company is
better yeah based on this data yeah
to find the performance merger from
corporates that's why we look at the
European companies because there are
separate legal entities even though they
are owned by a large corporate there are
separate legal entities continue to be
several legal entities and they continue
to report their financial statements to
European regulators and we are able to
observe the financial statements of this
private companies owned by corporates so
you think that if there are synergies in
the large corporate then the eb da
growth should be much faster for the
corporate dias
wouldn't you think so right because
they're able to save more most of the
integration processes if you if you look
at any M&A deal should be finished
within three years so the integration
should be at most three years we looked
at up to three years of data here right
and still after three years they are not
able to do it as well as the private
equity guys and I have some explanations
for that but for now I'm just showing
you the facts and I'll try to
rationalize interpret these facts a bit
later why the private equity owners are
somehow better owners of companies than
the public owners and there are many
many reasons on the operational side but
I'll show you in a moment but for now
suffice to say that you know the average
3-year growth right and this is the
average what you see integration period
of any corporate deal significant it is
significantly superior for private
equity funds yeah why why are private
equity funds better at running companies
or private equity firms better at
running companies then public owners or
corporate
and this is a this is actually a very
serious question a lot of high-level
executives are trying to understand what
they do wrong and what the private
equity guys are doing better I'll give
you some data here now I'm sorry here is
the date on the performance of private
equity funds versus publicly listed
companies okay just to show that in
aggregate indeed private equity funds
generate better returns than publicly
listed companies so if you can see over
a period of 10 years in the United
States yeah if you compare the average
private equity fund in the United States
to the average company in the S&P 500
which is the largest index in the United
States over a 10 year period a private
equity fund average fund is generating a
return of 11 percent while the publicly
listed company in the US only 8% if you
increase the horizon to 20 years prior
equity does 12 percent per annum and 7
percent for public equity this
difference of 500 basis points is
actually huge and this has been shown
over and over and over again
study after study and it's nothing just
not in the US only you see the gap also
in Europe public equity in Europe
doesn't do as good as in the u.s. but
private equity versus private versus
public equity the gap is very large 700
basis points here you have you know 10
10% which is 1,000 basis points that
that's a lot of difference right so it
must be the destroyer equity funds are
doing something better than the
corporates and of course you've seen how
they grow the operations you've seen
that they pay less yeah here's on the
same in Asia Pacific here's what I think
are the I have five minutes right here
here's what I think are the six
advantages of private equity over public
equity that explained the results that I
just showed you
yeah first of all private equity is
about active investing right that means
as an investor in a private equity fund
when I give you the money I'm not
expecting you to just buy a company and
then wait to see what happens you know I
expected to be involved in that I expect
you to sit on the board of that company
I expect you to change the management of
that company if the management is not
performing I expect you to be actively
involved right so it's not luck here you
need to really actually run that company
you need to be involved yeah a lot of
investors in public equity are not
actually active investors that's a big
difference I mean think about it how
many investors of a publicly listed
company actually bothered to vote in a
board first of all most of them are not
represented in the board if you have
retail investors like you and me and we
buy shares in a publicly listed company
we are passive investors we have no say
on how that company is run if that CEO
of the company decides to buy a private
plane will not be able to say anything
really we are too small in private
equity is not possible it's one owner of
the business you can't do that we run
the we own the business you you can't
waste the money like that right on
average about 30 percent sometimes forty
percent of the share shares of a
publicly listed company are owned by
index funds you know what an index fund
is in your pension when you when you
save for your pension all in all
consultants will tell you by the index
by the S&P 500 index so they create
these index funds that by the index so
they buy the shares in these companies
but they're silent shareholders they
never vote in a in a board meeting they
will never attend a board meeting yeah
if you look at fidelity that is running
a lot of mutual funds a lot of index
funds they sit on 0 boards of public
companies 0 if you look at KKR how many
boards they sit in and the companies in
their funds 100% that means active
investing I'm there to check on the
management
I'm the main shareholder and if the
management is not performing I'll fire
them very quickly
yeah the board meetings in private
equity take place monthly yeah and when
they have a board meeting they will be
talking about how to run a company when
you have a board meeting in the public
markets usually quarterly and it's not
about how you run the company is about
what do we disclose to the market so
that we don't get sued that's usually
the concern in a board I don't know if
you attended any board meetings but
that's the experience that I had private
equity funds invest in companies with
concentrated ownership when you have
three people sitting at the table three
shareholders you know concentrate the
ownership means that you make decisions
very fast we have three people we are
all grown ups we understand how to work
how to make decisions for the benefit of
this company in the long term when you
have thousands of shareholders when the
ownership is dispersed these people will
never agree on how to run a company and
that's why the management gets away with
anything right number three there is
better incentive alignment in private
equity and I think this is the most
powerful one
okay in private equity we buy a company
we put a hundred dollars in the company
and we get paid the twenty percent of
the profits once those profits are
realized in the deal that means until I
sell the business with a profit I don't
make any money I get the management fee
but that management fee is really up two
percent or one point five percent just
covers my costs my due diligence my
operations my office and flight whatever
right I'm private equity I'm driven by
that 20 percent of the profits and
here's the interesting element a private
equity fund manager gets the profits the
20 percent only after the investors in
the fund get paid they get their money
back and together other 80 percent of
the profits until then I don't get paid
while in public equity is not
same public equity if you're the CEO of
a business you get your shares they vest
you sell the shares in the market you
get your money doesn't matter that you
have an investor in your business with a
ten-year horizon that wants to hold the
shares for ten years
you don't care once you get the money
you can retire nothing private equity
you can get the money before the
investors get the money it's an
important element plus on top of this in
private equity the CEO of a target
company the sits here gets a lot of
sweat equity typically ten fifteen
percent the management team in a
publicly listed company the executive
team usually owns less than 1%
it depends a lot on the deal but the CEO
of the portfolio company can sometimes
make more money because they get ten
fifteen percent of the equity of that
portfolio company that portfolio company
is very very successful they can make
excellent money right or they can make
no money but you see that's the problem
in private equity right if you have the
CEO of a business and you know that all
your money comes at the end of the six
seven year period and you have no
diversification you basically have to
work very hard because either you make a
lot of money or you get zero so the cost
is very high right or you can get fired
you don't even reach year six right
you'll be fired in two years on whatever
shares you got in the private company
will be taken from you because the
vesting schedules are usually at yeah
well when I say it's exceeded I'm I'm
only talking from the perspective of
value creation for shareholders the
returns in the share price the returns
that you provide to shareholders in my
view this is the only way you measure
success indeed the CEOs of companies of
corporates they will always say well we
have acquired this business not because
we want to make a return but because we
want to do this we want to have access
to technology but at the end of the day
whatever you do shouldn't that be
reflected in shareholder value
figures from the quarter-sized all there
is companies made acquisitions for other
reasons then you'd have a base and you
might so in my simple mind my simple
view is that whatever reason you have to
acquire a company is a corporate
whatever justification you have the
ultimate objective is to create
shareholder value now you might argue
well floating maybe shareholder value is
not created in three years maybe takes
ten years I don't know would be so there
might be some opportunity cost hidden
that I don't observe but but generally
right I I absolutely understand what
you're saying and I agree with you of
course in practice is very difficult to
observe these hidden reasons right so
most of the people out that the only
benchmark they have is value creation
for shareholders show me the returns
that you generate to shareholders in the
public market versus private markets and
of course private and public will have
their own reasons but everything should
be translated into what the shareholders
get now just to quickly finish of this
I probably I'm running out of time now
in private equity there is a very large
reputational cost as a manager if you
blow up a fund if the fund doesn't do
well nobody will give you money ever
again because in private equity remember
as an investor I don't have any control
over my money so I have to trust you
with my money for ten years if I have
evidence that in the past you messed up
I wanna trust you for the next ten years
with the next fund so it's either you
have reputation of the market or you
cannot raise a fund while in public
equity the CEOs of publicly listed firms
reputation is kind of it's not that
painful because if you fail as a CEO of
a publicly listed company you can always
get another CEO job at some other
company and all is forgotten right
private equity that the memory is very
long fifth advantage private equity is
private that means whatever we do stays
with
nobody can see what we do nobody can see
our strategy our competitors imagine
that portfolio company here its
competitors cannot see their financial
statements so no proprietary information
is released because it's sitting in a
private equity fund those financial
statements remain private yeah and that
that's a big element because if it's a
publicly listed corporate then of course
you need to worry about Plus on top of
this is a publicly listed then you have
to worry about regulations and
disclosures and so on finally why
private equity is successful is because
it's the only asset class I'll argue
where insiders make liquidity decisions
for the shareholders what do I mean by
that I mean some money invested in a
private equity fund I really don't know
when the company is ready for sale who
decides for me is the manager who is the
manager is an insider who has been
running this company for four or five
years already they know when to sell and
they will try to maximize the value
because they make a lot of money if they
maximize value and in process I will
make money right so when the insiders
make the liquidity decision for me
decisions for me I'm actually better off
if I own the shares in a publicly listed
company I have the option of selling the
shares any time in the market and as an
investor I know very little how the
management thinks about the business
right so I might be making the wrong
decisions I might be selling my shares
back in 2009 when the market was low
right instead of keeping the shares so
that I get the uptick in the market but
the point is that in private equity
these managers know these businesses
very well and as insiders they tend to
make better decisions than outsiders the
investors so all this combined as you
can see explains to some extent why
private equity has been more successful
so far than corporates in the
acquisitions market and of course
because they have Alan
timespan I need to sell the business in
five seven years I really need to get to
work very quickly while in the corporate
world I acquire a target I don't need to
sell it it's very hard to measure
progress there so I can slow down I
don't need to increase the sales as
quickly I don't need to push as hard
right and also compensation agreements
are very different
you

---

### Insights from faculty of the Executing Strategy for Results programme l London Business School
URL: https://www.youtube.com/watch?v=EHlRKXDK1mk

Transcrição não disponível

---

### Essentials of Leadership Programme: Lourdes’ impact story l London Business School
URL: https://www.youtube.com/watch?v=gFdy2TWqT4I

Idioma: en

[Music]
the experience of the essentials of
leadership problem has changed my life
and the results were amazing so we are
thinking of sending all our top
employees to study the course
[Music]
we all are based in Barcelona and from
here we cover searches internationally I
work at Global Research professionals we
are an executive search boutique I was
running a very successful business but I
realize that I had problems managing
teams to have a consolidated team of
employees my friends recommended to me
London Business School as they all told
me it stopped here for business
education worldwide I will highlight
from this program the excellent planning
and organization the level of my peers
of the professors and that it's very
creative and innovative my colleagues
completed a 360 degree feedback which
was very helpful it made me realize
about the changes they had to make in
the company family-owned friends
completed one self feedback and they had
to highlight my strengths that made me
enough confidence to believe that I
could do the changes I needed to improve
my leadership skills my coat was great
she was really helpful understood very
well my challenges and guides me to plan
and organize all the actions I had to
take to improve my leadership skills the
professors are business experts that
make a company stand out and shine in
the market the essentials of leadership
programme gave me the confidence I
needed to introduce the changes I didn't
consider before we also implemented the
emotional benefits like offering
flexibility and teleworking my main
achievements since leaving the program
have been understanding people better
how to take out the rest of its person
we have now more autonomous and
confident teams I can feel in the
environment of people are much happier I
also when I finish the course created a
change management team with my top
employees it were really well I don't
need to control the work as I used to do
before

---

### Supply Chain Leadership: Programme Experience l London Business School
URL: https://www.youtube.com/watch?v=9N7J8JIB3BM

Idioma: en

the supply chain Leadership Program is a
holistic view of an end-to-end
experience about your whole organization
it really covers an overview of the
function and activities across the
organization that collectively deliver a
customer experience I decided to do the
supply chain Leadership Program at the
at the London Business School because I
wanted to have an institute who offered
really good executive education and the
Olin Business School is very well known
and also is in the top 10 globally I
wanted to move to a role enroll and I
wanted to gain more broaden knowledge of
the supply chain as a whole we are
currently running an expansion across
Africa this is a challenging phase and
we really need to optimize our
performance within supply chain hence
the need for acquiring the best
experience and knowledge our group was
very diverse
we had participants coming from mining
infrastructure from the telecom up until
fast mover consumer goods it's not
always about what you did but how you
did it and there we really exchange
experience the knowledge and the
experience of faculty was critical for
this this process they were able and
open to answer all the questions and
they were able to show me in the best
way how to understand all these new
concepts I like the fact that lbs is
collaborating with firms at the frontier
of supply chain because it gives you a
360-degree view so it's not only the
theory it's also practical examples as a
participation of McKenzie company was
very practical touching on information
from different industries and researches
it was very insightful in terms of
organization management to visit to
Amazon facilities and the Amazon
interaction with the
with the management there enabled us to
see what's really going on in a company
that is ahead of their competitors we
were able to see an explanation
out which departments are aligned in
terms of the end-to-end business process
we were able to see in practice some of
the things they explained to us so it
was very productive as a simulation
exercise has been very interesting it
visualized and materialize more Zeller
Ning and create a lot of interaction
between the teams the exercise consisted
in giving you a view of what is really
happening in supply chain management in
the real world and I have taken a lot of
mental notes of how to face this kind of
situations in my company
the pre-programmed agnostic exercise was
very good preparation phase to try and
bring the organization internal
experience and capture this lose a
problem it's also useful for us now to
see where is the best practice where we
are lagging and how to improve the
learnings and the insights that I came
during this program you really can
integrate this in the supply chain
strategy and to really try to convince
also the other departments within rapoo
that supply chain is an enabler for the
company's strategy if I would sum up the
supply chain program experience I would
say inspiring an eye-opener and next
level

---

### Executive Education Alumni Reunion highlights 2017 | London Business School
URL: https://www.youtube.com/watch?v=xphpGPphIRE

Idioma: en

[Music]
you
coming to this event and coming to the
school is very important because it's
refreshing the learning experience it's
all about changing adapting evolving
improving that is what you get by coming
into campus they come in in touch with a
professor
alumni events of course are about
reconnecting with your peers and
building the network but there are also
moments for a reflection things you
learn and then you go back to your own
organization and perhaps you can see
things that otherwise you will see and
you can improve your organization it was
good to see people fly in from Brazil
from Italy from Singapore Germany all
over the world again just giving each
other another day that have this
wonderful wonderful day that we have
today I always use the chances to come
back to London Business School because
it really feeds my brain I've literally
just sat down and transcribed my notes
from today because I extract value from
it there are things that I hear thoughts
that are generated and I can actually
take those right back into my business
so for me it's extremely valuable
[Music]
you

---

### Executive Education: delivering impact since 1966 | London Business School
URL: https://www.youtube.com/watch?v=KNPWbxV44Tk

Idioma: en

it's amazing what you can gain from a
four-week period that you can apply for
every single day for the rest of your
life
[Music]
the things that I learned in four weeks
at London Business School
give me that edge over a lot of other
people because it was such a brilliant
experience to help you hone a number of
key skills in strategic innovation in
working with people in leading in
difficult situations and importantly
gave me the confidence to really tackle
a chief executive job when I look back
at my time at London Business School
it's clear to me that theory catalytic
in not just my career change but in the
in the change in trajectory of the
company we went from material losses to
quite interior importance we have
realized with our our board that even
though the company was the living the
expected growth potential was not there
anymore I decided to get into the London
which is good we need to blazed a trail
to a different sort of economy of
different sort of society that's what
you learn about at London Business
School our environmental challenges the
world over are enormous the only change
it's worthwhile is world class change
transformational change London Business
School teaches world-class excellence so
it doesn't matter whether you're
pursuing that in sport in business and
government in the nonprofit sector the
skills that you learn can be applied in
any sector and for me it's been a key to
the success I've had since completing
the course when I came to lbs I was in
quite a significant transition I had
been running the companies are in the
workshop and I transitioned it fairly
short notice into being the chief
executive much broader role of strategic
role and the company was fairly
distressed it was within about 90 days
of not making payroll for about 150
staff so this wasn't just a change in
career it was now an urgent call to
one of the key things about attending
the London Business School course was
that it really provided a pivot point
not just for myself but also for the
company
what gives way to think through sort of
strategic decisions leadership decisions
and in some of the key management
decisions that we needed to make I
attended the course and that was
actually a source of inspiration for the
active life technology definitely when I
went the business school I didn't
expected that we were developing a blade
in textile for wind turbines I have a
two successful companies and I am now
blazing a trail in the world of the wind
energy so coming out of LDS and in the
years that followed we made a number of
changes to the company that really gave
us you know good result growing results
and of course it made the company
attractive to external bidders the
company was sold to American fortune 500
Henry Schein who leads the world and
supplies to dentistry so when I did the
course at London Business School I was
at the deputy chief executive level
subsequently I've had two chief
executive jobs and I would have credit
the London Business School with a major
role in helping me 1 get those two chief
executive jobs and to do them well
London Business School has given me the
confidence to lead an organization to
work out what world-class means and to
actually get there and delivery
[Music]

---

### Executive Education – Trailblazing through the decades | London Business School
URL: https://www.youtube.com/watch?v=pDBrZ86vOzE

Idioma: en

it's the second of February 1966 and 50
managers have gathered at London
Business School's temporary home near
Trafalgar Square they're here to do
something all too rare in the UK they're
here to learn how to affect change in a
fast-moving world after 12 demanding
weeks on the executive development
program they become schools fast
executive education alumni a few months
later another 20 businessman attend the
senior executive program a shorter
version which still runs today the need
for management education is clear both
programs are oversubscribed to the next
year others quickly follow providing
much-needed insights into finance
marketing and business economic a UK
fast the move to new parameters creates
the space to do this on a far larger
scale executive programs expand further
assuring in another fast with the
portfolio investment research programme
teaching ideas then little known in the
UK professors Charles handy and Derek
pews launched the world's first change
management program and economic
forecasts begin to be used in corporate
decision-making through the influence of
faculty economists Jim ball Kerry Burns
and Allen Budd as more and more
businesses make use of the school the
decision is made to offer customized
courses built around organization's
specific needs a new decade brings new
ways of learning some 20% of teaching
time is now designed and managed by
participants providing an opportunity to
reflect on what they've learnt and
develop new skills course activities are
extended beyond Europe to the US and
Japan providing the opportunity to visit
businesses like Cannon and listen 360
degree feedback is used for the first
time in the accelerated development
program for talented managers pioneered
by Professor John hunt attendees are
given the chance to work on their
weaknesses and measure their progress a
key feature of many programs today in
the wider world things are changing
London reemerge azat a global financial
centre
the faculty is influential in making the
discipline more professional programs
are designed for managers and economists
in perestroika Russia and post-apartheid
South Africa and in 1993 the UK
government asked London Business School
to support its diplomats in developing a
better understanding of effective
leadership as business goes global
professor Gary Hamels research into
gaming a competitive edge is used to
shape the new building global leadership
program and professor sumantra ghoshal
and Lynda Gratton bring top executives
together from six companies to learn
from each other's experiences in the
global business consortium the school is
going global to 75 percent of executives
defending its to lead courses are now
from overseas and 50 percent of its
faculty hails from abroad customized
learning continues to reap rewards for
businesses the school's innovative
management education program for Rolls
Royce is credited with helping the
company recover lost market share the
move into a technology driven decade
sharpens a focus on leadership professor
rob golfi
wins a Harvard Business Review smih
Kinsey award for his article on
developing the concept of authentic
leadership his insights later form part
of the Nestle Leadership Program which
has since trained over 2,500 of the
senior executives new ideas are adopted
as the school helps executives drive
personal and organizational change by
learning through experience this
award-winning approach frames the
leading edge program developed Ford to
nones top executives who unanimously
agree that it helps them make lasting
changes to their leadership style now
with over 170 programs the portfolio
continues to grow the school continues
to collect accolades - rising to 3 in
the STS annual executive education
rankings and numbering four of the
world's 50 most influential management
thinkers in its faculty big thinking is
needed come the global financial crisis
the school offers programs to help
businesses cope with the fallout
now more than ever companies can't
afford to stand still and in 2013 the
school wins its largest ever contract
from Kuwait national technology
enterprises company to design and lead a
world-class leadership program for the
Kuwait Petroleum Company in 2016 the
school launches its first entirely
digital program developed for
Microsoft's sales teams around the world
the award-winning program provides the
insights they need to help customers
maximize opportunities and minimize risk
and executive education reaches 50 it
now has over one hundred and fifty
thousand senior executives in its
network from 170 countries and Counting
from its earliest beginnings executive
education has been a trailblazer marking
the way so that others have the
confidence and support they need to
embark on their own journeys that
journey doesn't end here
[Music]
you

---

### Microsoft and LBS’s “Public Sector Course”
URL: https://www.youtube.com/watch?v=hjB5uD17xZo

Idioma: en

[Music]
when I think about the challenges that
Microsoft face coming into the London
Business School program we were looking
for the depth of vertical capability
that we needed across the public safety
domain Public Safety national security
government health and education we were
looking for a business acumen but
brought in the market and all of the
changes that market that our sales force
needed to understand a lot of our
faculty are involved very much on
attends on basis in public sector this
enables them to understand and deal with
some of the issues that Microsoft people
face all the time
the objective of the program were to
help our sales teams build greater trust
and credibility with our customers by
helping them understand the challenges
they are facing in order to deliver
value when we started thinking about the
program what we had in mind was the
Microsoft Senate as a trusted adviser
connect site being a trusted adviser
means you're a pathetic missile you have
to not necessarily be interested in
killing what you can sell to your
customer but what they need from you the
relationship with Microsoft email
business is wonderful it was a
collaborative mutually respectful
learning partnership which force both of
us to think differently about how we
were going to run and develop the
program everyone that came to the table
really brought this energy and
enthusiasm about the project and
everyone was particularly agile in the
way that we worked through the
procurement so it was a great decision
on our part we have 15,000 sellers at
Microsoft and one cup of that twenty
cards and technical sellers in a company
and we know that classroom teaching we
want to allow us to reach one of them
and then refresh their learning and
their knowledge at the pace that we need
so digital really was the only way we
developed faster insights their
discussion forums the participants took
part in they had what they call missions
which brought together in the client
project which immediately learning
 for business there are senior
Microsoft stakeholders actually giving
insights in line with what our faculty
was saying over this
weeks of learning over the POE we
realized what was very important for the
client and the client recognizes digital
transformation
so we developed another module for the
program very quickly which has been
added on to the later cohort and I'd
like to move separately as well within
Microsoft the scale is quite significant
we rolled it out roll away to 150 plus
countries where we operate that means
that we were able to have thousands of
people joining the program at once
engaging with the contents but also
engaging with one another the digital
format of the program was hugely
beneficial in particular the flexibility
to be able to access the information
anytime anywhere whether I'm traveling
or not I also really liked the grade I
could mix videos with quizzes and the
networking with my peers around the
world and having that social aspect as
well
the professor's we're listening to our
perspective and they were able to find
you in the program where the voice of
Microsoft professional at the heart of
it and that is by Strauss unique value I
could see the results in the
conversations that I was having with
partners and customers and a little very
rewarding the partnership between lbs
and Microsoft is core to how we ready
our field sales team it's also very
important for how we're driving towards
digital transformation with our
customers it's attracted people outside
of our core sales team people in other
disciplines that have seen the value and
they are now participating fully when I
think about the impact of lbs I think
about the 1,500 students that are
participated in the program to date
seventy five percent one of the highest
completion rates of an online program
here at Microsoft one of the highest
relevancy scores how quickly they can
take the content and apply it to how
they work day to day with their
customers and one of the highest
satisfaction scores so across all
measures we are really really pleased
for the impact that this program is
having and will have I think for years
to come
you

---

### Leading Teams for Emerging Leaders | London Business School
URL: https://www.youtube.com/watch?v=uW7_C5ocaVQ

Idioma: en

The reason why I chose to study the
Leading Teams for Emerging Leaders Programme
at the London Business School is
mainly because I wanted a transition in my career
I'm heading up the marketing department
in Mitsubishi Motors Norway
based in Oslo
I choose London Business School because
I previously studied in London
so I know what the city has to offer us a global business centre
and I also wanted to challenge myself
I thought that this was perfect for my needs
at that time
The mere atmosphere and
the dynamism of London in itself
adds a dimension to the course
I had really high expectations going into the week
at London Business School
Especially two of the faculty members
Margaret and Niro really really impressed me
They had a fantastic way of conveying their insights and knowledge
to us as participants
in a practical way so that we can really
use those tools they taught us in our daily work
My expectations were surpassed
The programme improved my capability
to communicate with different
nationalities and different cultures
Being the only Norwegian on the course
I was also able to present my views
on things and I think that my fellow
participants really enjoyed and learned
a lot from how we Scandinavians see things
which is a bit different maybe from other parts of the world
The LBS course pushed me to challenge myself further
because I wanted more responsibility
and that was one of the reasons why I took on the course
As a consequence I started
looking for new challenging opportunities
inside my current employer
and then also looking for opportunities outside
and this culminated in me taking on a new position
a leadership position
in a new company, in a new industry
This was a fantastic week
and I recommend everyone who has the chance to attend

---

### Professional Services: Programme Experience l London Business School
URL: https://www.youtube.com/watch?v=RvAO3Tfe1Yc

Idioma: en

my career objectives were focused
arrived at additional in terms of how
can I lead teams more effectively why
can I improve and enrich the quality of
my engagements with clients and equally
high tonight balance the work/life
aspects given the demand that a
professional services firm places upon
individuals we have some really
excellent tutors not only academically
teaching speaking good also with their
very relevant career histories and
professional services Richard hytner in
particular very interested in Korea with
Saatchi and Saatchi both omni and
Richard jolly got very interesting and
relevant creating strategy consulting
got a real feeling that it was a course
on professional services by people who
understood it the most significant
learning from the professional services
program I think it could be some eyes in
the importance of being present we are
living a world of constant distractions
and having the skills and their research
that supports the importance of the
impression with your customers and fears
has been very very eye-opening the
benefits of having intensive programs
list between two modules is that there
is that face after the first module for
you to decompress so first you have that
consolidation period and then you have
that period whereby you can implement
the skills and the tools that you've
learned into the workplace straightaway
I found that coming back on a set of
modules you can start to put all the
jigsaw pieces together and you have that
added value of listen to your colleagues
and delegate and getting bad life and
their thoughts on how you went about
things and could you have done it
differently the program has energized my
work he's given a new impetus of new
ideas and things to try the learnings
the views the perspectives that we've
been given both from the faculty and he
can be from the other participants on
the course will provide me with the
tools and techniques
to be a more effective professional
advisor we providing more effective
advice to my clients an equally having a
greater harmony between myself as a
professional doesn't individual five
South work because you're getting the
feedback from your delegate you have a
different perspective on how you would
address a certain problem or certain
challenge within the organization and I
think it's that self-awareness which can
be utilized every few days and that's
very meaningful and impactful if I had
to sum up the program in three words it
would be insightful immersive and lastly
inspirational person own world class and
for thinking
[Music]

---

### Professional Services: Strategic Client Relationships | London Business School
URL: https://www.youtube.com/watch?v=TWMLCVK9DAA

Idioma: en

[Music]
professional services it's been created
because of the great challenges and the
great opportunities facing the
professional services world what we're
looking at is that really starting off
by understanding what does it really
mean to be a professional advisor how
can you understand your client much more
strategically and then understanding
them better how can you build those more
strategic trusted advisor relationships
will also focus on the internal
relationship about how you bit really
influence other people within your own
organization but particularly obviously
helping you really make that transition
that step up to a more senior level I
teach strategy on this program I want to
teach the kind of strategy that's most
relevant to you we'll be focusing on
what i call the strategic conversation
and that's to equip you with the skills
to have a conversation with the client
that goes to the heart of what most
concerns them when you come on to this
program at london business school first
of all you're going to meet great
faculty you're also going to meet great
participants professional services is
aimed at those who are on track to
become partner in a professional
services firm in the next few years or
who might be for example looking to
become managing director in the
corporate finance team of an investment
bank which shows that our definition of
professional services is broad clearly
there's the cool ones like law firms
accounting firm and management
consultant fees it's really anyone who
is providing professional life but
in-house or as a consultant to other
people and the point of that
professional advice is it's always
brought on from that you never know
whether it's good advice at the time
you're buying it but the trust and
credibility the professional is
absolutely critical in that relation
learning for us at london business
school is not about one-way transmission
between a professor like me and a
participant like you it's about driving
sparks which can set a fire going in the
run what we're looking for is an
extraordinarily high quality of tough
challenging supportive conversation from
participants who are there in the room
the fact you're able to really work in
these cross professional teams and learn
from this group of other colleagues as
well as some faculty is the me what
brings this program that really you need
one of the most exciting features of the
program is a live case study that will
be bringing to you which will be co
delivered by myself and my former
student client and now colleague Richard
hang that Richard is deputy chairman
worldwide for Saatchi and Saatchi the
two of us will be bringing a live client
situation into the room where we'll be
looking to you to act as trusted advisor
to the client and self for herself the
format of program is 23 day modules a
few months apart which means you
actually can practice the things you've
learned in the fourth module between the
modules the skills you really get from
this program are really the ability to
develop your own personal leadership
style to really help you navigate a very
changing landscape with your clients and
also within your own organization but
also really it is about helping you at
an individual level manage that
transition to partner to a key
stakeholder within the first it is
actually critical to us that the impacts
you have is immediate after this program
in terms of your ability to really step
up internally but also there should be a
real impact in your relationships with
your clients
[Music]

---

### Strategic Investment Management: Programme Experience l London Business School
URL: https://www.youtube.com/watch?v=pXLtN58aYgQ

Idioma: en

I'm an engineer by background and had
been in an engineering oriented job for
a while but my aspiration was to move
into corporate finance where I had lots
of knowledge gaps I looked at the market
looked at the opportunities available
and lbs name stood out I chose elvia
because I have a lot of friends have
done the MBA program they really enjoy
the networking opportunities the world
class faculty and being in London and
london business school is the best
friend it doesn't only give theoretical
grounding but also reflects the current
market dynamics and provides a
perspective that you can really relate
on your day-to-day life I was really
impressed by the quality of faculty here
and especially their knowledge of the
subject some of them basically said
she'd be on the books and was really
really useful but coming here gave me an
opportunity to network with people who
work in similar industry but in
different organizations it's added to my
experiences which engine can go back
[Music]
tutorials really complimented petracic
so classes were most theoretical and
tutorials for more tactical where you
can apply the concept clinically and
fixed income classes are very useful for
me because we started a small corporate
Treasury division and just to make
better at asset allocation that
investment decision that's been very
useful for us even before finishing the
program I was able to put what i have
learned into practice in one of the
transactions that I'm handling right now
I actually utilized the knowledge that I
have gained here not only that but I
also had the opportunity to discuss my
approach which my professor I would
absolutely recommend it to my colleagues
as well as any friends who want to learn
more about the subject and actually have
recommended it to people
[Music]

---

### Executive Education Faculty Legacy | London Business School
URL: https://www.youtube.com/watch?v=wWDIsHnbEE4

Idioma: en

[Music]
[Music]
at London Business School we transform
futures for individuals and
organizations my contribution has been
to ask individual executives a difficult
question why should anyone be led by you
the best leaders are not those who have
answers to every questions but they know
how to lead people through a process
that allows us to collectively make
decisions that are better my greatest
impact at London Business School is the
creation of the making innovation happen
program where we work with executives
coming from all over the world to help
them make their companies more
effectively creative and entrepreneurial
revolutionary goals and evolutionary
depth if you want to change the world
you have to start out with a goal that's
big my legacy is the invention of what I
chose to call discovery where we immerse
ourselves with senior groups of clients
in some of the most exotic cities of the
world meeting people who are really
shaking and moving things particularly
in the areas of Education the business
world is changing a new generation
entering the workplace and the
fundamental nature of what successful
organizations look like is changing how
sort of ourself to be an innovator in
the way I work in the classroom my job
is to help people see things and to give
them the confidence to follow through on
their purposes the emphasis of executive
education is teaching people how to
think not what to think everyone's going
to gain the information through digital
means what our role should be is one of
discussion and application and helping
people understand what it means for them
we also help people to think about
themselves how do they build their own
assets and I hope that I will really
help them realize that they are the
agents of change in their organizations
what's important for any executive is to
be prepared for the kinds of changes
that are coming up long in business
school what we can do is make people
aware of some of the things that are
coming their way
and
pair them to think about the challenges
in ways that make them feel comfortable
and make the organizations they lead and
manage comfortable to

---

### Leadership coaching: Leading Businesses into the Future programme | London Business School
URL: https://www.youtube.com/watch?v=OszqjfwUwms

Idioma: en

coaching fits into the leading
businesses into the future program as
part of the process of helping you to
underpin your learning it's a key part
of your learning and development and you
have contact with your coach before the
program starts you have face-to-face
sessions during program week and then
you have follow-up sessions with your
coach the coaches understand the context
in which you're working they have a lot
of experience coaching globally they
understand the challenges particularly
in these times so they can speak your
language in terms of the business in
which you're in as part of the
preparation for the program you're asked
to complete an organizational survey
this is a tool to have some information
from your people in your organization
about what they think is going well in
the organization and also what you think
is going well and where there might be
areas for development it's not like a
360 it's not necessarily a reflection on
your leadership it's more about what's
happening deep within the organization
the coaching sessions are confidential
it's just between you and your coach so
it's a safe environment you can trust
the environment it's an opportunity for
you to explore what you're learning but
also reflect on the wider issues around
your organization around your own
leadership each participant coaching
experience will be different in terms of
what you put into it and watch you take
out of it each participant goes away
with their own bespoke action plan and
that is suited and tailored to their
organization and to their own leadership
style so it is part of the commitment to
the program
and your coaches will hold you to
account and you go through program we
you have to follow up sessions with your
coach and this is to help to discuss
what has gone well with the actions that
you've committed to by the end of
program week and then the second call is
to explore that further to see if
there's anything else that you might be
able to do and how you will continue to
take your learning forward you get the
benefit of working with your own coach
who is experienced in your world of work
and understand the global context of
business today and who will really work
and collaborate with you we get
fantastic feedback from Pottersville but
the coaching really helps them to learn
and develop their insights and then bear
their learning from the program
[Music]

---

### [Private video]
URL: https://www.youtube.com/watch?v=rHGwqj5vbuk

Transcrição não disponível

---

### Professor Dan Cable - The emotions of competitive advantage | London Business School
URL: https://www.youtube.com/watch?v=Thfm3pTtymQ

Idioma: en

[Music]
I like the intimate setting here a lot
and I hope that um I hope that I can
give you a couple of good ideas that we
can have a bit of a conversation since
it is so small and intimate but what I'd
like to chat with you about today is
about emotions and the specific the spin
that I'd like to put on that is if
you're trying to win as an organization
if you're trying to build an
organization that has a competitive
advantage
what sort of emotions might solve your
problems so that's the unique spin I'm
going to try to put on this let me start
off by telling you about this hedonic
treadmill if you haven't already heard
about it how many of you have heard
about this thing called a hedonic
treadmill can I see it okay when I first
learned about this it blew up my brain a
little bit so you know maybe it'll blow
up your brain right now let's try did
anybody fly kind of far to get here how
far did you fly today how far how long
did it take anybody can beat five and a
half hours got seven can I do it can we
beat seven and a half where is yours
to vie okay let's take any of these you
can all play how long do you think that
um do you have children who has some
children out of you three how old I want
young kids who that's a young kid fine
let's take sixteen and where are you
where did you fly from okay so if you're
coming from Saudi Arabia how long would
that trip have taken in 1900 well I
don't think the camels going to go
through the ocean I think we're talking
a camel to the coast and then I think
we're talking a big boat but maybe a
month the thing I want you to get inside
your head though is this in 1900 not so
very long ago it's a trip to London
might have taken a month here and then a
day at a conference and then a month
back so this had better be a really good
conference
and the really important thing for you
to be thinking about is saying goodbye
to a 16 year old knit this is the part
of it I want you to live a little bit
when you're saying goodbye to your kid
and you're not gonna see them any loved
one you're not gonna see them for say
two months two and a half months depends
on the weather
you get that heavy feeling and you're
not going to be doing reach back you're
not gonna be using a phone to call them
you don't have phase time you're just
not gonna see them for a while and just
imagine for a moment if somebody had
walked in front of you and said we'll
have you there today we'll have you
there in five hours think about how it
would blow up your brain in terms of
what was possible you wouldn't believe
such a thing was possible but then what
happens today when we land on time
basically at Heathrow and they've saved
us month month and a half of time we
were in space they were serving us
coffee when we land do we thank British
air do we fall to our knees or do we
complain about the coffee do we say the
service wasn't that good and this is
this hedonic treadmill which is when we
first experienced something
revolutionary that completely changes
what we thought was possible we took a
trip to space and they served us coffee
our brains very quickly adapt to that
and it just becomes normal then the
question becomes why doesn't the Wi-Fi
stay in place why can't they be more
authentic when they welcome me on board
this has huge implications for how we
live we're not going to get into that
but it also has huge implications for
our organizations because all of our
customers have these hedonic treadmill
and if all your company is doing is
taking people in a machine that takes
them to space and you've figured out a
way to get oxygen up there and land
safely and not lose luggage and save
months of their time and give them free
little drinks
get in line there's a lot of companies
that do that do you have Wi-Fi that
doesn't drop out and so this idea of
thinking about companies that die that
don't make it that don't stay relevant
is a really important one and that's not
really news you know we know that that's
the case but when you see some of the
icons and some of the organizations that
are falling one after the other now and
you start to think about the sorts of
changes that we already know we're going
to have to cope with you have to start
thinking about how will we do that how
do we build an organization that will
allow us to cope with these sorts of
uncertainties and that's rare that's my
lead and in some ways I don't surprise
that any of those things I don't think
those are new to you I don't think those
are things you would have never seen
before
but I would say that there is a classic
tension that it brings up and this is
the first little area where I want to
kind of delve in a little bit
I want to delve in because on the one
side of this it's called a teeter-totter
or a seesaw we have what large
organizations need in order to survive
you make promises to customers you have
to fulfill those commitments the
government creates regulations it says
you have to do it this way your
organization might have 40,000 people
60,000 people a hundred thousand people
it's a city you have to have policies
and ways to bring a consistency in a
standardization to that so that doesn't
make you evil it just means you have to
run the organization but what we have to
remember is there's a certain set of
emotions that allow you to exploit that
and since about 1880 when we sort of
invented the big organization a lot of
that has been fear before that it was
slavery when it definitely was fear
paint slavery is kind of the same in
some ways but rather than physical abuse
it seems who are using fear anxiety to
make sure that you don't worry or that
you worry about losing your bonus
you miss making the promotion fear is
good for this in some ways because fear
as an emotion targets and channels our
focus and makes us kind of reliably
anxious about a very small thing what
companies originally did is again going
back to 1880 or so was they broke the
job down into tiny little activities on
assembly lines and this was by design
they didn't want you to innovate that
was called mistakes they didn't want
your self-expression we can replace you
easily we want you to be part of the
machine
well that approach to building a
competitive advantage might work if the
world doesn't change a lot if a smart
person at the top usually a white male
figured out a new way to build an
organization say Henry Ford they might
be able to ring value out of that
technique or that process for 15 20
years they sold the Model T in only the
color black for 13 years organizational
change didn't happen quite as often to
the extent that organizations are
changing a lot quicker and to the extent
that we're going to have to adapt and be
agile and we can't wait for a two-year
rollout from the top we might want other
things out of our organizations and
other things out of our employees so to
the extent that we would like them to
bring their own creative ideas in and
try to use them on the ground if we want
a whole army of innovators who are all
trying to solve little problems on the
fly if we're looking for agility and not
top-down transformation this might start
to imply a different sort of emotion
that's needed and the idea of people
like you creating organizations
designing organizations where the right
emotions are in place might become part
of the competitive advantage of your
firm somebody share with you a couple of
studies that I think you'll find
interesting and compelling a couple of
tips around some organizations and
things they've done
but you might steal you might be able to
go out and try some of these ideas and
I'm trying to try to put that all in the
context of building an organization
where you are able to adapt and adjust
more quickly I've got a little video I
would like to share with you right now
I'm not going to say that KLM is the
best organization in the world I think
there are a fine organization there are
very large and traditional airline out
of Schiphol Airport but they tried a
little experiment recently and that's
what I want to share with you that maybe
took some employees out of the iron cage
in some ways they are in cages what Macs
have ever called this organizational
bureaucracy that seems to make everybody
into a little cog into a machine
removing purpose removing
self-expression dehumanizing and they
tried this little experiment that I want
to tell you about where a person that
was in one of my classes who worked at
Schiphol Airport went to his team with a
budget of 10000 euro and he said to them
are any of you really into social media
and he said lots of the hands went up
out of 110 people he said about a
hundred of the hands went up there using
Facebook and Twitter but they're also
using Instagram in something called
Foursquare which I still haven't used
and with all those hands up he said
would any of you be willing to help KLM
become a social media airline would you
help us start to use social media to
connect and he said a lot of the hands
went back down but the question is how
would we do that he said well I don't
know because I'm a dinosaur and I don't
use social media and I don't even know
how to tell you to do something but I'm
looking for you to help and so 9 of them
decided to help and I want to share with
you a little video that shows these 9
people kind of running around and as
you're watching it I want you to think
about not all creativity all
self-expression so that there's no rules
and policies and controls the airline
industry is one of the most regulated
industries we know there's a lot of
regulations you have to do by law so I
want you to think about not this but a
balance of the two
and how organizations and leaders can
encourage that balance so let's take a
look at this
happiness is it contagious
can it really be spread can it really
make a difference to a person today like
really could small doses of happiness be
delivered like a message in a social
media bottle to our suspecting travelers
at one of the world's busiest airports
and make a likeable airline even more
likeable we were curious to find out
welcome to KLM surprise armed with our
social media toolkit our little
experiment began first job find KLM
passengers who had checked into their
flight via one of klm's Foursquare
locations or left a message through
Twitter second job search their social
profiles get to know them as well as you
can to think of a personalized gift its
annual sportif you wanted and in
weekends at omaha may be some risky
local night plus bungee favor nothing
fancy like a house or sports car just
small stuff carry-on sized stuff third
job hunt them down and deliver the gift
[Music]
could it be - are you Lisa Automator yet
Spitzer yeah Vicki mittens Eisner is a
recliner
Vineyards lots of AC the human soul
sleeps on that my worship to the
civilian philosophers it's an eyeliner
line artifact is if it's a hood bone for
you from fasciola after several weeks of
handing out little gifts a few things
became apparent in the age of social
media during something that creates a
real smile on somebody's face is much
cooler than attaching a smiley face but
most importantly it seemed that indeed
an airline could use social media to
both surprised and make a small
difference to a passengers day and we're
not just guessing we know because they
told us and their friends massively
[Music]
okay so if we're back in this frame what
they still did was run an airline what
they still did is travel around and get
people somewhere in time but if you
think about that team of nine people
that spent ten thousand euro what kind
of emotions do you think they felt as
they experimented and explored with this
what's one of them one of them with you
feeling a positivity why some of is
because you're using an idea that you
came up with to impact somebody else's
life in a positive way that you can feel
you can see that's one thing what other
emotion might you feel yes personal
involvement getting your hands involved
not being told what to do but exploring
the space on your own what it does is it
ignites a part of our brain around
excitement around enthusiasm and around
the word zest how many people know the
word zest I don't mean like making a
cocktail I know where your minds are
zest would mean having an approach to
life that it's an adventure to be lived
instead of a chore to be gotten through
so it turns out there's a part of our
brain that's dedicated to this and it's
the topic of my new book it's called a
seeking system there's a fear system and
that fear system narrows there's a
seeking system and it opens us to
exploration to play to trying new things
to learning dopamine is the active
ingredient I bet a lot of you learned
about this already but I'm intrigued by
this I'm intrigued by the idea that
evolution has built has hardwired within
us a solution to organizational problems
and I'm intrigued why so many
organizations shut it off and put people
in an iron cage in which they're not
allowed to invent they're not allowed to
try new things they're not allowed to
fail so that is something I want to
spend a little bit of time sharing with
you and kind of maybe enthusing you a
little bit about this idea and maybe
giving you a couple of
tickle tips around this as well so I'm
going to give you a test right now it's
gonna be a little bit um intense for you
I'm gonna put a bunch of words up there
and then you have to as quickly as
possible tell me what those words refer
to and then the first person who can
tell me what they refer to gets a little
prize okay on your marks get set go
anybody thank you thank you let's hear
it for it's the lyrics that does stop
believing and your prize is I would like
you to come up and sing that would you
be oh really if I if I made you do that
right now if you had to do that what
emotion would you feel fear and anxiety
stress anxiety and fear
Allison woods Brooks professor at
Harvard University did a really cool
study where she made people sing karaoke
the journey song don't stop believin she
had him come into a lab and they had to
had an audience and they had to approach
the audience with a mic they had to sing
it but just before they walked on the
stage they were instructed to do one of
two things they either had to say I'm
excited or they had to say I'm anxious
that was the only manipulation
everything else was the same and then
what happened is they used the karaoke
revolution revelation revolution we
software to judge how well they did did
they hit the highs did they hit the lows
did they get all the words right it
judges them how many have used this
software before yeah man could you do
this right now you could own this so
what they did this is published in the
Journal of Experimental Psychology what
they did is they looked at how did the
people in the anxious category perform
and how did the people in the excited
category perform and then the anxious it
judged them they 53% which wasn't too
bad
it was 81% in the excited
large statistically significant
substantial differences so she said to
herself oh maybe this is just because
it's singing maybe emotions affect the
voice box maybe confidence is more
important so let's try math so she got
people to take an actual intense math
test on the computer where there were
right and wrong answers and it wasn't
about how well your voice performed and
once again right before the test half
said I'm excited and half said I'm
anxious and once again statistically
significantly substantial improvements
in maths and she did it a third study in
public speaking where people had to give
a speech and then be evaluated by an
audience without knowing what condition
they were in and once again the ones who
said I'm excited scored higher on
compelling interesting and would like to
hear more so we're starting to see that
excitement which is just a different
reaction to stress it's the same
physical environment it's the same
behaviors it's the same audience if you
see it as exciting it's a different
emotion than if you see it as anxiety so
we took these ideas I have a PhD student
and a Stein Haga she didn't really
really interesting proposal and we
gathered this data and I was just loving
these results so I wanted to share I've
actually never shared these results with
anyone before so you actually are the
first people to see them we've just
submitted this to the Academy of
management journal but let me tell you
what we went into these banks looked at
821 retail bank managers and we gave
them little scenarios that are the types
of real life events they have to respond
to so here's one of them you're going to
need to present a product option to an
important client different options some
of them are more profitable than others
the bank is approaching year-end and you
need a big push in order to make a
top-ranking among your colleagues it's a
competition you know everybody saw that
and then they got a list of answers oh
behaviors that they could choose and
some of those were just nice standard
middle-of-the-road ideas like present
all options to the client some of them
were quite creative and interesting like
call one client and do this snowball
to see if they could introduce you to
other clients and other ones were very
creative but unethical they're actually
illegal in the bank managers their
bosses said no no we definitely would
not want them to do those this would be
profitable but we would be sued so we
just gave them those different options
and then right before we had them choose
half of them we said oh by the way if
you do achieve a low-ranking you're
gonna lose your substantial bonus and
then half of them we said and if you
achieve a top-ranking you're gonna
receive a substantial bonus this month
we measured their excitement and we
measured their anxiety and in the
regression we controlled we put both of
them in there and what we found in terms
of if they pick the creative legal
behaviors anxious 53% excited 61%
statistically significant somewhat
substantial since this time in my book
I'm now just feverish with this I found
about 25 studies that would replicate
this in psychology and business in sport
psychology of anxiety is different from
the psychology of excitement very
briefly because I don't want to bore you
with the details on this I just want to
kind of share with you a little bit more
about what are the emotions and what are
the knee-jerk physical manifestations so
to the extent that what you're feeling
you know she's feeling kind of
segregated maybe ostracized the feeling
you would have would be threatened
anxious and worried the action tendency
is you narrow on the threat what is it
that's making me anxious you have a hard
time thinking about other things and if
it comes from within your group you
conform and there is a whole science on
this it's called
effective as in emotions neuroscience so
there would be books published about
this is this notion of conforming when
the threat when the fear comes from
within is a really reliable behavioral
tendency over here to the extent that
you're feeling curious
we're excited or
Susy astok this is maybe what we saw at
KLM the action tendencies are play try
new things
experiment explore the environment you
don't have to try to do it I think
that's the key point it's not the
prefrontal cortex where you say I should
play it's more your body wants to play
you see the world through
experimentation glasses I'm really
turned on by this because I think this
might be in re MIT I think that this
might be something that HR leaders that
organizations can be in the business of
priming so that's what I'd like to spend
a little bit of our time going to right
now it's basically how would you
activate this seeking system how would
you activate this exploration biology I
think that's a really interesting way
for you to think of it it's not the
psychology of change and the psychology
of risk resistance
it's the biology of change and the
biology of exploration how do you
trigger that part of the brain oh so
what are they number one these are the
three sections in my book one is we're
gonna emphasize unique strengths
interests that you face that you have
that you are able to do like at KLM
notice they didn't say all of you have
to use social media it's part of your
KPI now what they said is does anybody
want to is anybody curious is that
exciting to anybody they let nine people
lead a charge and do some quick tests
and prototypes and gather data it's a
very different way to go about change
second one here is get people
experimenting a prompt their curiosity
prime them to go and learn I'll give you
some examples of that in a moment I
think we saw that KLM as well though
they gave them three weeks 10,000 euro
try something out and then the last one
here is this notion of a purpose a
feeling that I can see my impact on
others it's very much where you went
right off
that it's when you can do something that
somebody else responds to you be it
flipping burgers or providing service as
an airline person when you can see
somebody giving you that gratitude or
that excitement to you you feel that it
changes your your own emotional state so
let's see how much time I have and let's
see how much of this we can make it
through good I'd like to start with a
study then this study I want to tell you
my co-authors there's a fabulous
researcher named Julia Lee and she just
he came out of Harvard and she just got
a job at University of Michigan she's
the primary on this
Francesca Gino is another co-author and
she's still at Harvard so I just wanted
to tell you that we did this study where
we had all these executives coming into
the Kennedy School in Boston and as they
came in for this pretty intense program
where for 10 days they came together
they didn't know each other they're all
government leaders for 10 days they were
drip fed information about a norovirus
that was attacking Boston its Twitter
and they got newspaper articles and they
had that put together an assessment of
the threat and then they had to propose
a way of handling the threat and there
from all the different walks of
government so it was very realistic and
we did a little experiment where they
all did that exact same thing but half
of them we did something very
interesting too before the class started
we went out to their social network and
this is something that Tom and I are
doing right now Tom's at KPN on in the
Netherlands we went out to their social
network and by that I mean college
professor old boss mom a sister a high
school buddy and we had those people
write stories about when they saw this
person at their very best when did they
have the most positive impact on other
people so many of these people would
have gotten 30 stories summer one
paragraph some were only two sentences
some were a whole page they were
personal
they were visceral they were emotional
and we gave
these reports to half of the people
before they even met as a team
obviously we highlighted their best self
we we highlighted their strengths we
showed them here's who you are when
you're at your best here's how you can
have an impact on other people when
you're your best and then the other half
we did it the last day we did it when
the program was over so that's a
gorgeous experimental design to be able
to test same routine what's the effect
of priming that best self so what we
learned is first we asked them at the
end of this ten days how creative did
your team let you be did they listen to
your experiences did they look at what
you could bring that was unique and we
found that statistically significantly
and substantially people that got the
best self implementation were more
likely to say yes to this but even more
convincing is we had a panel of judges
very senior a lot of were actual
politicians actually coming out of
government that did this for a living
and then government professors and they
watched each of the presentations but
they didn't know what groups were in
what experimental condition and when
they judge them
we found statistically significantly and
substantial differences of higher
quality both in terms of how good the
ideas were and how well they presented
them as a team they were both
statistically higher when we primed them
first with you at your best now this
tool I've started a company now that
does this just to do the full reveal
I am so intrigued by this possibility
because this doesn't cost much money
this is like doing a 360 it's just
slightly different it's only the
positive instead of numbers it's lots of
words and instead of say best and worst
it's only at the best it's something you
all could do a second thing that I'd
like to share with you right now is this
concept of creating agility but not
fragility and what I mean by that is
this notion of experimental safe zones
again a little bit like you saw it KLM
but I want to give you another example
of this now my guess given the people
sitting in this room right now a lot
you've heard about this sort of thing
this would be the idea of like google
time would be an example or like three
M's bootleg hours or ship it days down
at Atlassian software Dan pink wrote
about that I bet you've heard about this
well I tried an experiment recently that
I wanted to share with you and it's at
deal logic which is a city firm right
here in the in in London has anybody
heard of them before software
programming for big big financial
institutions so like if goldman sachs is
gonna do a billion dollar deal all of
the programming all the behind the
scenes all the back-office goes to deal
logic and they have to do that deal
perfectly so here's what happens
they've got these 200 programmers half
are here half are in budapest at noon on
a thursday we stop their work and we
just said for the next 24 hours you can
work on anything you want with whomever
you want wherever you want the only rule
is in 24 hours we're all going to come
back here and every team's gonna present
here's what we tried and here's what we
learned so they did that in budapest a
lot of people stayed all night
they didn't go home here in london lots
of people are still working at 10
o'clock at night when i interviewed them
several of them said they'd never had
that much fun at work the next day they
presented prototypes of new ways to
communicate with clients new ways to use
software systems new ways to do billing
all these different ideas and a team a
panel watched it was the CTO the CEO oh
and the general manager and they all
listened to these ideas and the ones
that they really liked they funded but
not with money they funded it with time
they said we love what your team before
people put together their that initial
prototype we can see there's legs in
that next week we want you to spend 20
hours take it away from your regular
time and do that and within three weeks
that was a viable program on three
different phone platforms that was
actually being used a lot of the
different ideas that were pitched were
put into use the very next week by those
people the people felt through
they felt involved they felt they owned
it exactly they were exploring their own
mission they solved their own problem
they wanted to do this stuff I was
thrilled about these findings so we're
now doing that twice a year for them and
it's free I mean again there's there's
no money there's no consulting that's
really needed it it's a matter of having
the theory that we need to create that
excitement that there is a part of our
brain that's dedicated to that
excitement but we need to stimulate it
we need to activate that do you reckon
we have time for the last one how are
you feeling yeah I think we're there the
last one has to do with the why of work
it has to do with the purpose that we
feel when we create value for somebody
else when we when we have a positive
impact on somebody else's life it's a
turn-on for us the Industrial Revolution
completely got in the way of that by
design the whole goal of assemblies was
to make the smallest possible task so it
was easy to replace people out so
removing purpose and removing the touch
with the customer and the final use of
the product and the the whole value
chain of production that was
intentionally disrupted and again you
didn't want creativity you didn't want
positive emotions he wanted focus and
reliability now if we're looking for
creativity and we're looking for people
to innovate and be agile it's much and
more important for them to understand
the why of the work in a way that
transcends money I don't know if you
went over to Linda's talk recently she
just upstairs now she talked about how
the old way of thinking about work is I
do a lot of stuff that I don't like at
all because I want the money and then
I'll use the money to buy things that
make me happy another way to think about
that is there are things that I can do
at work that make me happy
and we can think of yes there's gonna be
money and you pay people to work but
that might not be why they do it so
let's take a quick quick look at a study
here this is by my friend Adam
grant who's really become quite a
celebrity with his most recent book the
originals I'm really proud and happy for
him he also has an incredible book
called give-and-take have any of you
read that it's really really good
if only my book could be that good
that's what I would say this comes out
of his first book um what he did is he
went into some call centers where people
were trying to earn money they were
trying to call alumni of a university
and just get money for the university
and this is tricky work cuz you're
bothering people for money but you're
not really giving them anything not even
a product so you get a lot of no maybe
you get nine out of ten knows maybe you
get 12 out of 14 knows pretty much all
day long you're on the phone getting
nose very difficult work so what he does
they call him in they say can you help
us make more money he goes in and he
randomly divides the callers into one of
two groups let's say that you are
callers that you in one group than you
in another group randomly with you folks
he has this Lunch and Learn where he
buys you pizza very nice and over the
course of an hour you talk about best
practices what's a good way to call
people it's like one thing that works is
you try to smile while you talk when you
smile when you talk the customer hears
that difference and there's actually
some evidence suggesting that that works
so you talk about best practices I need
about go back to work with you we also
get you pizza same hour but instead of
talking with you about best practices we
bring in a scholarship student we bring
in somebody that actually receives some
of that money that you earned and
somewhere in that hour he says something
or she says something he or she says I
just want to thank you for the work that
you do because I couldn't afford college
and I'm here because of you
that's it no hugs no group tears
it's just instead of giving best
practices they connected you with the
end user
then he's clever enough to have pre and
post experiment data on how many calls
did you make during your shift because
it's a numbers game the more calls you
make the more money you're gonna make
and then also how much money did you
make now with a setup like this we can
infer causality we know that Adam caused
whatever differences we see and those
differences were enormous in terms of
how many calls of course they were the
same before the intervention because it
was random assignment they were the same
group after the intervention they saw a
difference of almost 300% more calls in
terms of the money do you think they
made three times more money let me ask
you you think gas three hundred percent
more money does anybody think more than
three hundred percent right why might
there be more than three hundred percent
it turns out they made three times more
calls and every call was twice as likely
to yield money
six hundred percent more money they
didn't change the pay they didn't change
the incentives they didn't get them
better technology they connected them
with the end user there was a paper that
just came out last year were Berger
flippers half of them they gave monitors
where they could see the people they
were serving the food got statistically
significantly better rated by the end
user they said it was better food
they're more likely to grill the eggs up
fresh when they could see who they were
doing it instead of grilling the eggs
and waiting and letting them get
overcooked that was published in
management science again in my book I
just have so many examples of this in
study after study after study when we
connect humans to the purpose or the end
user of the why of the work they get
inspired to do better work life becomes
a better place to live and that's
actually where I want to leave you
ultimately I don't see this as a
business challenge I see this as a
humanistic challenge I see this as a
golden age of emotions
we're not long ago companies had a
competitive advantage when they used
fear
to scare people into focus due to the
fact that changes are happening so often
and the agility that you need and the
innovation you need at all levels it's
the wrong emotion for a competitive
advantage if I can leave you with the
thought that the emotions of competitive
advantage have shifted and that the new
emotions feel better it's a way for us
to hope but a bit more living in two
lives while helping the firm get what it
needs anyway so I think that said I'm
happy to take questions but I these are
the ideas I wanted to share with you
does anybody wanna ask a question
thought comment are you sort of more
interested in some brownies
thank you
[Applause]
[Music]
you
[Music]

---

### Professor Costas Markides - Preparing organisations for a journey of continuous transformation | LBS
URL: https://www.youtube.com/watch?v=z9ulXAl6k5E

Idioma: en

[Music]
thank you good morning to all thank you
for being here
after an introduction like that I can't
wait to hear what I have to say I've
been a London Business School love for
27 years now and I've been teaching
strategy and innovation for them all
these years and when I have to give this
speech they taught they told me can you
give a speech about agility and I
thought I'll talk about that Jilly tea
but then they told me but you cannot
just how about Jilly D on your on your
on your slide because if I like
old-fashioned stuff so how about
continuous transformation okay
continuous transformation that's what
I'm not here to talk to you about so let
me start out by saying that that you
know cut the digital revolution of the
last twenty years it has had a
tremendous effect on how we work how we
show up how we live our daily life you
know I don't have to tell you that but
just because I'm an academic I'd like to
try a little simpler multiple-choice
test on you to see whether you can find
answer to some of the some of these
questions on the kind of changes that
have happened on us so you cannot vote
but you can raise your hand I'm going to
give you a series of questions and let's
see what kind of answers you come up
with first question is the following
according to this professor at UCLA he's
looked at the effect of the internet on
the human brain
what he found is that exposure to the
Internet physically requires the neural
networks in the brain and changes the
human brain and one of the changes that
you see is that the attention span of
human beings has been reduced in other
words people do not pay attention to you
anymore and my question to you is what
is in the average attention span of a 20
year old individual is is it 30 seconds
3 minutes 10 minutes 30 minutes how many
think it's 30 seconds you have teenagers
at home don't you
how many have say 3 minutes 10 minutes
30 minutes
the answer is 50 seconds actually
specifically means a lot you about two
minutes ago 50 seconds there and this is
this is your employer and this is your
customer
Allah let you think what the charge is
based on the
question number two the US Department of
Labor estimated that today's
eighteen-year-old
graduating from high school will have
how many jobs or how they expect to have
how many jobs before they 1040 think
about that are talking about for the
next 20 years how many jobs would they
expect to have how many things three to
five how many thing five to eight eight
to ten ten to fourteen the answer is ten
to fourteen fourteen different jobs in
the next twenty years again think of the
implications the challenge is not how do
I track the best talent anymore the
challenge is how do you retain and keep
them energized so that they don't just
change jobs or go somewhere else
according to a survey of European
consumers 97% of them cannot imagine
life without what if I asked you would
you tell me the one thing you cannot
imagine life without what would you say
probably your kids your partner maybe I
don't know how many think they fed their
their partner and family nobody really
how many said they internet I mean set
the mobile for how many de Klerk are
mobile phone 97 percent can not imagine
live without their mobile phone you know
whether the number was for their partner
family forty five forty five percent of
these the number four can imagine level
of my wife or husband fourth question
it's estimated that fifty three percent
of people in the UK suffer from no more
obeah question is what is Namib Hopi is
it the fear of being alone no anybody
works for that yeah how about the fear
of being out of phone range come on
the fear of having no friends the fear
of losing their job and you know the
answer is fear of being out of phone
range can you mail it we now have a
disease associated with it no more
phobia in the survey of US consumer
circulation ibadah
said they use email to calm you
negate what percent of young people said
to say how many things zero how many say
- how many 10%
how many 20% as I was 2% - what do they
use these kids what did I used to
communicate what's up snoop shabbiha no
sucking - mine 18 year another few years
at university in London and they were
talking about things and he said all my
dad is very upset with me I see why she
upset because I don't answer his emails
I said why don't you answer his email so
what I want to look at them every month
every month we think we think it's a
mode of communication you know if you
still use email you're probably my age
last question before deciding what to
buy which website to consumers visit the
most to do research on their intended
purchase or anything Google how many
thing Amazon amazing Yahoo amazing go
compare you don't even know what go
compare it to you it's actually Amazon
do you know why why do you go to Amazon
I've done Google
yeah the reviews they like to see the
valuation other people you know how
people buy these days in the good old
days you wanted to buy something you
lost your partner you'll ask your friend
what do you think about this now we rely
more and more on strangers for
recommendation which hotel shall I stay
well you know you want the website and
check it out you know the all the kind
of websites that you could check out
hotels and things like that you rely on
on strangers or people who don't know
for our purchasing decisions anymore so
exciting stuff there are lots of changes
lots of changes but you get my point
don't you well as just in case I said
what's my point my point is we've got a
lot of changes ok lots of changes and in
particular let me tell you that
employees and customers these days they
tend to be less attentive remember that
safety second attention span it's going
to be much more informed on anything you
know there is no where's job in the
world and being a university teacher
these days you're teaching these kids
and while you're still talking they are
on their iPhone on their lap
up and they can contradict what you say
when you say this company has annual
revenues of 20 billion actually
professor it's 22.3 they are much more
informed let's lower on chain jobs like
that much more connected much less
station they're not going to sit around
more demanding more vocal if a customer
doesn't get the service or quality they
expect what do they do these days would
they - in it would old days maybe you
were really upset with a company and so
on you will call send a letter put it
people to these days they make a video
yes and they go on YouTube so it one
single customer interaction now a pod
customer interaction in your company has
a potential to become a global PR
disaster for you if you don't believe me
go and look at some my favorite video is
the guy from United Airlines you seen
that video the broke his guitar and
United refused to pay five thousand
dollars for it and so on and what did he
do you know video he made a video of
himself thinking about how United breaks
guitars and doesn't pay back and so on
put it on YouTube couple of million hits
later the United said okay I'll give you
the five thousand dollars the thing of
the damage that causes Wilkins so lots
of changes and can I just say I think as
a result of these changes companies have
responded you know you are sure you've
done a lot of things lots of things I
mean I really don't want to get into all
the kinds of things the companies had to
do in response to you see you've seen a
 I think time has already talked
about the rise of the network
organisation from hierarchy to the
network from internal R&D now we see
open innovation where you know from
centralized finance you have crowd
funding from fixed pricing of dynamic
prices instead of mass marketing now
have a lot of customized marketing with
all the big data they have on us you
know it's fascinating article I was
reading yesterday about this data
gathering the organization in Cambridge
here in England that donut ramp used
actual
Republicans use to segment the US
population
not according demographics but according
to political preferences and you know
you see to great effect you know and all
this data allows us to customize
marketing to customize products to
customize promotions and so on from
owning assets to owning international
property you know the erp and peace of
the world they don't own hotels or the
year you whoop air and things like that
lots of changes okay
changes in consumers and customers have
led companies to undertake a lot of
these changes and I suspect that you
know everybody had to do it you had to
do it as well but here's my punchline
more is coming yeah I haven't seen
anything yet and if you actually go and
look at you know some of the new
technologies coming out there it's
frightening
you really frightening you're gonna you
know fifty years from now people are
gonna look at the digital revolution and
say dollars piece of cake compared to
all these things coming artificial
intelligence reporting nanomaterials
today's of T today's if T has a
beautiful story about how robots are
taking over chefs robots are now cooking
for us and so on and the day will come
when you know instead of having people
cooking when I have robots and so on
synthetic biology machine learning
virtual reality new radical business
models you know lots of stuff is coming
our way which implies good just when you
thought my cut I need a break I need a
deserved break from all this
reorganization that I had to do in
response to the digital revolution you
have to do it all over again
which implies what what the questions
are should be asking is you know how do
I prepare for the next waver despite
what I've done so far but more
importantly how do we prepare
organizations for continuous
transformation I'm sure you've seen
describe these curves before there's
curves and so on so involved I'm saying
the same thing the only difference now
is the following this has curves thank
you know in the good old days you go
through a growth phase 20 30 40
years and then you say okay after seven
years I need to transfer myself and then
you go through out of phase twenty fifty
years and then say okay it's 50 years
and it's transformed myself
it could cares about the safety you
Korra's not be retired by then so you
want to take one transformation and you
say let the next generation take over
the next transformation whereas now what
do you think is that you know it's
continued like two or three years whoops
we need another one to three years
whoops you need another one it's tough
isn't it that's why I became an academic
I don't have to do these things but you
do add the question that is okay how how
can I you know prepare my organization
for a journey of transformation so am I
give you three ideas just to provoke
you're just two things the first is we
need as an organization we need to
institutionalize the attitudes and
behaviors that will make you effective
in responding to whatever disruption
hits you you don't know that disruption
that's going to hit you tomorrow you
really don't nobody does so how do you
prepare for something you're not you
don't even know it's coming well prepare
the organization to respond to whatever
the disruption is not two things there
the first is what they helped us
institutionalize me instead what has
institutionalized me and the best
example I have of that is the example of
Sally Ride I don't know if you'd Sally
Ride actually died this year but the
last year so that was the first u.s.
woman astronaut who was in back in 1992
adding just put on the space shuttle
to go into space anybody knows you know
yeah okay so I I lived in the United
States in the 80s and I remember this
story the astronauts were getting ready
to get on the space shuttle and it was a
press conference
lots of journalists and I remember one
of the journalists asking Sally Ride the
following question he said to her
Sally do you think that this is a great
day for American women that finally we
have a woman astronaut to go to take to
space
you know what Sally replied she said no
this is not a great day for American
women
the great day will be the day when they
put a woman to go into space and nobody
not says it's a woman because it's so
normal it's so natural we don't even
notice it's like going to the toilet
isn't it
have you noticed whenever you go to the
toilet you are in pray say there she
goes again to the toilet they don't
notice these things because it's part of
day-to-day life
it's returning by institutionalizing
certain attitudes and certain behaviors
it's part of the DNA it's part of the
fabric of the organization it's part of
the culture the structures in the trust
of the organization so that these things
happen and nobody notices and what kind
of things are we talking about well what
are these behaviours and attitudes that
you need to institutionalize because
they will make you effective in
responding to any disruption I think you
know the answer to this one
same on same oh isn't it they use
yourself to could have it allowing our
place to question things to experiment
and learn to collaborate outside their
silos to be open to new ideas to be
comfortable with ambiguity to respond
quickly with autonomy you notice that
and these are the things you need to put
in the fabric of the organization to
institutionalize them but I'd like to
give you one more that you not be aware
that we've seen from academic research
single attitude that I think it's
important for people thinking about
disruption and the point is I'm going to
give you this attitude and the
implication is reaching the students
institutionalize this attitude in our
culture and what's your attitude how
should your people look at the
disruption as a threat what as an
opportunity can I take a vote on this
one how many things should make them see
that afraid how many things should make
them see it as an opportunity you're
wrong
I'm sorry it was a trick question by the
way the correct answer is not on the
slide then academic study done in the
United States a PhD student at Harvard
Business School his name is Clive
Gilbert back in 2001 he went and looked
at
the newspaper companies responded to the
Internet in science understand why did
that some of them were successful in
somewhere and successfully making the
transition to digital three years of his
life he spent testing hypothesis
hypothesis you know because academia
have lots of ideas all you should do the
usual do that if you want to digitally
transform yourself this is a way to do
it he tested everything he could not
find any of them supporting you know the
difference between success and failure
he was getting desperate this guy you
know you don't get a PhD degree unless
you find something and and in fact his
supervisor was clay existence on some of
you may know clay existence on the guy
who came up with disruptive innovation
very famous for and so on in fact one of
the share hypothesis he tested was clay
clay Kristensen came up with a
disruptive innovation theorem theory and
then his solution to it is a company
needs to create a separate unit to
develop the disruptive innovations of
good cloud being his PhD student when
and tested that in the history business
he went and said what the newspaper
companies that created a separate
division to move into digital there must
be the successful ones whereas those
that did not create a separate unit they
did not succeed and he couldn't find
support for them and if you are a PhD
student that's bad news you know that
because he went back to clay and said
professor I don't seem to find support
in the data for your theory what do you
think clay told him take a closer look
at the data and then he spent another
year taking a closer look and went back
to professor clay and said that can't
find support and he said look do you
want to get a PhD yes or no to discredit
this guy then looked at another variable
and he found support for this one and
what was the variable how did these
newspaper companies frame the decision
to phase in how did they look at it and
what he found was the following what the
companies are failing what did they say
they said oh my god
this online distribution arm is a big
threat for us it is cannibalizing our
newspaper business we need to
something so they will fail framing it
as a threat they all fail whereas those
that succeeded you know what they said
contrary to what must be able to expect
the companies that succeed in this but
did not view it the internet as an
opportunity how did they do it we just
start out saying oh my god all and
distribution of use is a big threat for
us it's cannibalizing our business into
something but it didn't stop there you
know whether they said it's a big threat
but it's also a great new opportunity
for us so can you see the difference now
those have succeeded how did they look
at it as a threat in an opportunity hmm
you all see that they are saying and he
got a PhD for that yes this is the most
beautiful instead of seeing the
management literature in the last 50
years why is it beautiful to really
appreciate it you know consider the
following scenario how many of you have
been on safari in Africa okay imagine
the following scenario you are out on
the savanna
you're watching the animals available
it's lunch time you take a break you
stop the Jeep you sit by your Jeep
you're having a sandwich
champagne just music in the background
very relaxed you're very relaxed very
luxe nice beautiful day and then
suddenly out of nowhere a big vicious
lie on it's about tracking you coming
your way you have 10 seconds to leave
can you see the lion yes my question to
you is how do you look at the lion as a
threat or as an opportunity you said you
love how do you how do you look at the
life
do you know simple the Lion King let's
take a photo
how do most human beings look at it as a
threat of course you know my curly oil
and you know the moment we frame
something as a threat something
wonderful happens to the human body what
happens adrenaline which creates all
these side effects first of all it wakes
us up it creates a sense of urgency does
it not you don't sit there as a okay
okay let me finish my sandwich and then
I'm going to give you the line like the
lion becomes Chi
number one creates a sense of urgency
carbon are just people and mobilize the
resources but I don't get a positive
come the negatives and good of the
negatives what do you do the lion is
upon you it's about to pounce on you
what do you do could you do we run do
you sit there and say oh let's think
about this strategic ally right how
should I respond to a lie or mm let's
sing one possible response around this
way another possible response I don't
run I pick up a knife and a fight with a
lion another possible response I don't
fight I don't run I pick my wife forget
to the lion and then run you see what
hard we don't think you put people under
a threat framing they plan it what do
they do we stop thinking we become very
short-term oriented and become very
reactive do you see now why the
newspaper companies that frame the
internet as a threat they all failed
they all fail because on the one hand
the galvanized organization by creating
a sense of agency but the everything
they did were short term oriented
reactive numb thinking every strategy
they develop was stupid in that what
happens in organizations when you create
a burning platform have you heard that
PS before we need to create a burning
platform here really have you ever been
on a burning platform would you like to
be on a burning platform depending -
creates a sense of urgency fine that's a
positive but then go there people panic
they jump into the sea to save
themselves is that what you want
of course not we should not be creating
burning platform for people so when you
frame something as a threat it has
certain positive it has certain negative
the same thing happens when you frame
something as an opportunity
it makes us long-term oriented it makes
us proactive it makes us think and think
strategically but then what's the
negative we think about all these things
and then what we say we need to respond
to the Internet and here the business
how to respond have you heard people say
that we need to respond today we need to
respond do you know what they mean when
they say we yes I mean you yes because
they are very busy them says every time
here they were dual mean you and of
course you sit there and you agree with
the viewers I agree we really must
respond yeah what do you mean when you
say we them yes they mean you you mean
them and who ends up doing it nobody
exactly yes that's what you get when you
do thing you or or we does an
opportunity lots of good plans lots of
ideas long time thinking and no urgency
to do anything nothing it's all stay
tuned opinion in the plan so what does
that imply if you frame it only as a
threat you get the urgency but the
actual you take tend to be short summary
under the reactive on the other hand if
you frame it only as an opportunity you
will think that about it strategic Ally
but there would be no urgency to act so
what's the best way to frame it a threat
and an opportunity to create the urgency
and also to get people thinking and so
on can I am a big fan of helping people
visualize what we say I think people
understand what you say when you have
them visualize it so let me tell you the
same story how a senior a CEO of a
telecom company told it to me he said
why is it he said that all the new
markets in the telecom industry over the
last 20 years have been created not by
the established firm but by new shut up
in voyages what I'm a big telecom
company I have the resources and have
the marketing I have the government on
my side I have the technology I should
be creating markets why why not me why
is it a fad affair the creator the new
markets and Nike truely's for me just
look at that the big circle is me the
big company with all the market then the
customers and suddenly the new thing
comes along now notice one thing when
the new thing comes along it is small
relative to my business
natural to ignore it or underestimated
but more importantly you know what a
killer is when the new thing arrives
it's of little interest to my customers
can you see that when the new thing
arrives it kind of attracts a different
customers from my core customer which
implies what when I got to my customers
and I say hey guys do you want me to
offer you than you think you know what
they say no my own customers lead me in
the wrong direction shut down invest an
investor thing you think that never
happened
well what happens is that over time the
new thing improves itself and as it
improves it attracts more customers and
then more and more and notice what
happened there
some of my customers for the first time
they look at it and they see you know
it's good enough in this reach can you
see that a little bit of my customers
reaching and I see that that's very
interesting about to keep an eye on this
one it and then more of them and then
more of them and suddenly I look at the
thing and say wait a minute
this new thing is cannibalizing my
market I need to do something and what
do I do
I focus all of my attention on what one
that cannibalization of my core market
and I'm trying to defend against it and
in defending against the cannibalization
what do I forget I forget the huge new
market that God created the periphery of
my market
you see I forgot all of my attention to
defend against that threat to my core
business and forget about exploiting the
opportunity next to my core business and
then he asked me this new thing cost us
is it a threat or is it an opportunity
can you see it now it's presented a
threat and an opportunity it's a threat
to the core piece in it and we'd rather
some interesting strategic issues by the
way we are one of which and I don't have
time to talk about that but think about
it if you have to defend an attack but
Pascal Yoda said I have to defend
against the threat an attack can you do
it with one star
gee can the organization depending
attack with one strategy and I'll put my
leg on the rag and say that 95% of the
time you can't do it you run strategy
which implies what responding to
disruption requires two strategy a
strategy of defending and it strategy of
attack but that's another story so then
using a threat or an opportunity and all
I'm saying is that it's an attitude that
we have to institutionalize and put it
in the DNA of the organization it's not
a threat it's not an opportunity it's a
freedom opportunity and you know along
with that don't forget all the other
behaviors that I talked about okay that
you need to institutionalize the
outward-looking autonomy see
experimenting and so on second point
that I want to leave you with is the
following the importance of the
organizational environment in
determining how much shall you become
let me give you an academic study done
by this guy in the United States yours
lab he develop a tool it's a diagnostic
tool that allows you to evaluate
yourself or others how creative they are
you know it measures how divergent your
thinking is okay so he will give you
this test it's a test it tells of 10
questions and if you score 10 out of 10
on this test you label a genius in
creativity right so before giving this
test to managers he said let me try this
on young children you develop the
diagnostic tool specifically for young
children and gave the test to a group of
three to five year old kids
now my question to you is what percent
of these kids using score as geniuses in
creativity ten out of ten not just good
incredibly geniuses what number would
you throw up what percent of them 90
anybody higher than 90 100 you're
thinking of your children now or you
know the number was 98% scholar Cheney
are you surprised
no kids are creative are now here's the
interesting thing he one of those kids
over time now and five years later they
are now eight to ten year old he gives
them another test similar adjusted for
age think about it please
it's the same children he did not change
the kids the same sample of kids they
just now five years older how many of
them scored a genius in creative using
you went down really you're thinking of
yourself or your children yeah how down
give me a number
be courageous now throw a number at me
60% down low where anybody else sir 30
that part was a 30-30 persona well done
32% 32% what the hell happened what
happened yes they went to school stop
sending the kids to school unless it's
random business school we don't do these
things you know it's not just school by
the way in a moment and then he said
that is very interesting let's try this
on teenagers so he followed these kids
again for another 5 years we are now
teenagers huh saint children now
teenagers non-conforming revolutionary
they'd ever listen to mom and dad what
percent of them do you mean score
geniuses in creativity how many think it
actually went up now because you're
teenagers okay and how many actually
went down all right but the same
actually went down to where 10% and then
for fun he said let me try this on a
group of adults adults being anybody
over the age of 25 anybody in this room
over that age yeah what percent of them
do you think won that body you're
thinking of your company now to profess
2% my god the disaster isn't it and you
look at these things and say who are
going to blame in everybody blames the
educational system they play me guess
what I'm not to blame I'm not to be you
know I you know if you go back by the
age of 8 or 10 the majority of education
that takes place takes place where oh
yes even by the age of 10
Kame zombies so don't blame me you know
play mom and dad it's not just the
educational system you see it's not just
education what is it it's education
system is the calm environment it's a
playground it's society is a work
environment it's all these things it's
the underlying environment however you
define it the underlying your
environment has a big effect on how
people behave what do I mean by
environment it's not just culture you
see in an organization the environment
is made up of four primary things
yes culture and values are important but
so are the measurement and incentives
you use what gets measured gets done
that's part of the environment the
metrics that you use short-term versus
long-term and so on what do you evaluate
but also the structures and processes
you put people in there so the kind of
people you hire this is the environment
and this is what creates behaviour in
society and specifically here in
organization yeah why is it important
you know before my test point was seeing
about the behavior we need to
institutionalize in your organization
and what are these behaviors
experimenting looking outside
cooperating questioning you know I
always go and talk to CEOs and they
always tell me that they all constant I
need my people to try things out to
experiment more you know experimentation
and even if you make a mistake it's okay
because a mistake is not a mistake it's
yes you have that ps/2 you know it's a
learning opportunity I want my people to
get out of your style of cost of my cut
if only they step out of their little
silos and talk to each other it would be
a coalmine disorganization and I always
say to this field have you told your
people these things I guess well have
you told them anytime anytime and they
still don't do it what is wrong with
them
I tell you what I have a louder voice
than you maybe I should tell them what
is wrong with people you keep telling
them hey guys experiment try things out
be our child and then ever do it why not
why not I wonder are they deaf are they
stupid no it's because while telling
them those things we have created an
environment that encourages totally
something else when you say to people
hey guys experiment experiment writing
so don't be afraid of failure in front
of you go what's your good one boss
but behind well you know what they are
thinking I say yeah and I'll cover up my
friends to experiment the last year and
they are still looking for a job yeah or
people say huh I may be the boss but
feel free to question me I'm not good I
make mistakes sure if you disagree with
me please feel free to question me and
then of course people don't open your
mouth when even when they say hear
 coming out of that mouth they
don't open their mouth why fear what is
that maybe the culture maybe the
incentives do not do not encourage
questioning so stop treating people like
idiots telling them the behavior you
want and then saying oh they're not
doing it but I wonder why they are not
doing it they are not doing it because
you have failed to create the underlying
environment for them yeah the
environment influences human behaviour
much much much much much more than we
give it credit for
you know there's 50 years of academic
results in psychology and the people
have estimated that on average the
environment could account for up to 70%
of the variance in the behavior of human
beings 70 percent versus personality
which accounts for only 30% the
environment is much much more important
than we give it credit to and I know
that because whenever we become
successful in life what do we say if
somebody says well you're really good
cause that you've been very successful
why I'm so good I'm so clever
it's the hair it's something I don't
know it's always about that it's not
about you
there isn't a successful 30% is you but
70% is you team your culture your
organization you see it's a lot of
research on this man Jeremy
an academic looked at the top 50 rated
analysts on Wall Street and you know
they were listed in the magazine called
institutional investor as a top 50
analyst on Wall Street and then most of
them got offers from other investment
banks and this guy followed them when
they move companies and guess what he
found what he found was their
productivity immediately dropped once
they left their company drop below
industry average and remain below
industry average for five years after
leaving their company so have trash
yourself what happened here one moment
these guys are geniuses the best of the
best and then they become idiots
this they're always idiots you just
didn't know it you see because the
organization carried them there but they
never gave it credit to it and they left
and they get back go back to normal we
always say that you know anyway the
environment is much much more important
so what it implies for me it's not
enough to simply ask your people to
adopt the behavior that we talked about
they know their behaviors they are not
idiots they read newspapers like you do
very business reports like you do they
know what behaviors they need the
important thing is to go beyond telling
them and creating the right
organizational environment the right
incentives the right measurement is the
right culture and values and so on the
promote the behavior you want and how
you create this kind of context or
environment where you know I always have
people think about your family both of
you with children do your children have
values do they know what's right or
wrong
yeah if you have a culture at home how
did you create that culture at home did
you send the kids on an educational
program at London Business School we
could have one one-week program on you
know values and so on no how do you
create cultures and values through our
day to day behaviors that's what kids do
they watch mommy and daddy how we behave
what we say and so on and based on that
they form beliefs
that's exactly how you create an
environment organization is through a
day to day behaviors it might
the power of all the senior people
organization behaving in the ways that
you want everybody has to behave you
want them to question things you
question things first you want them not
to conform stop conforming cells you
want them to get out of their silos to
get out of your valid fears and so you
know that final thing I want to say
creating a supportive environment is not
enough it's important but not enough why
do I say that another academic study
done at the Harvard Medical School
this is my favorite then I would like to
talk about this study because I know
from personal experience that is true
what did they do this guys they they
exciting patients that recently had a
major heart operation yeah major major
holliford anyway you know the major
finding of this study was it was that
90% of these patients go back to the
behaviors that got them in trouble to
begin with we think six months after the
operation think about that for a moment
please
you go in you're about to die you have a
major heart operation you get out of it
and the doctor looks at yourselves
mr. McKee DS all I'm saying is that if
you want to leave when you go back home
to Cyprus stop smoking stop eating that
deadly cheese of us called halloumi yeah
you know that and live a healthy life
the doctor tells you these things you go
back what are you doing you stop smoking
you stop doing the stupid things
and how long does that last six months
if you don't believe about 500
unbelievable it agrees it's a credible
threat isn't it this is not prior from a
credible show this is the doctor that
just saved your life it's not just B's
in the school professor telling you
these things it's so the guy could have
saved my life it's a limited
that's not what does that tell you by
the way that 90% we were to the
behaviors that got them in trouble to
begin with what does it tell you other
than to people of stupid changes had
change is hard it is hard to change
human behaviors even by a little bit
that's why I always laugh with New
Year's resolutions have you taken any
New Year's resolutions this year you
know why they always fail this New
Year's resolution
because they involve change of behavior
a New Year's resolution is saying to
your I'm gonna change this behavior and
in Somalia I'm not going to be going to
the pub every day from now on do you
think that's easy let me do it the guy
the doctor told me to stop smoking or
I'm going to die and I don't even do
that and you think I'm going to give up
the pub no way change human behavior is
hard and scaring people as you saw even
when the scare is credible
it's not enough to galvanize them into
sustainable ugh yes it pre creates the
one time change but it's not enough it's
depressing statistics this one is indeed
90% figure you're thinking oh my god I
thought I had a tough job going back to
this organisation but it's even tougher
now but I left something out of this
study that should give you hope can you
see what I left out what did I not tell
you about this study ok it's about the
heart problem specific but I see
something about this what is it yeah you
see I was testing my theory that your
attention span is only 30 seconds I'm
trying to catch you there to see what
did I not tell you
90% go back to the old behaviors but 10%
change sustainably for the good so it's
possible to change human behaviors isn't
it six things a gun but it is possible
at the question how do you know why what
what's the difference here why did this
10% change their behavior than the other
90 anybody have a hint what do you think
were they young yet maybe the older
younger Corsa so they have more to live
for so there are the incentives they are
used to change no with a wealthier is it
because I'm wealthy and I can afford to
change no you know what the difference
was the different was how the doctor
frame the need for change to them what I
mean by that the 90% not it does kind of
went back to your behaviour you know
what the doctor told them the doctor
said look
if you don't stop smoking you will die
what is that framing it's a threat
training
it's a thread framing and you scare
people and you see the effect of that
will have the temper thing you know what
I doctor said this I look I'm a doctor
I'm not good if you don't change these
behaviors of you are you're gonna die
but I don't want you to think of it like
that I'd like you to see like this when
you come back home do you want to spend
the remaining years of your life being
able to play with your grandchildren
without pain would you like to be able
to take long walks with your husband
your life into the forest into the park
without having to carry an oxygen
cylinder and a mask with you do you want
to leave the remaining years of your
life in a high quality kind of way yes
then then stop smoking
what is that training by the way well
there is a third element there which you
don't need to really emphasize to these
people because they know I'm going to
die
but the emphasis is on the opportunity
with the other thing that it is if you
want to change you need to make the need
for change personal and emotional
personal emotional you guys are ready to
be authorised we need to be nobody why
the hell should I be innovative it may
be good for you and your shareholders
why should I your employee be agile or
innovative or whatever you want me to
stop you know conforming why waiting for
me we need to make the need for change
personal and emotional you know you know
the analogy from psychology the rider
and the elephant the rider being the
brain you know or the rational side of
the human being that has a god we should
do this as the elephant the emotional
part if you don't win the elephant you
don't win anything you cannot achieve
any change you have to win deliver you
have to make the need and again you see
how do you make the need for change
emotional and personal and I always like
one of these type of storytelling is a
very effective tactic by the way but the
one tactic that I love is help people
visualize the need for change and let me
give you an example of this your
for a pharmaceutical company and you
keep telling people you need to be
nobody we need to be nobody how do you
help them visualize the need to be
innovative well bring into the
organization a couple of customers a
couple of patients who sit there and say
you know I was diagnosed with cancer but
thanks to your product so and so I can
now live another 20 years with my
grandchildren and live a happy life
show a video like that to your employees
or the customer talking about how your
product has made their life different or
better and then trust me you don't have
to give them a PowerPoint presentation
as to why you need to be nobody and so
the same with customer centricity and
all these things help them visualize why
and your stories as well okay so I said
to you I'm gonna give you three basic
ideas about this one is the importance
of institutionalizing attitudes and
behaviors that enhance our agility
institutionalize it put it in your
culture put it in your processes put in
your structures so that they happen
without even you being around to notice
them second think about the underlying
environment please its environments that
create behaviors environment is not just
culture I'm an economist by training so
I always look at the underlying
incentives in the system but culture is
also very very important so think about
the underlying environment and second
and third thing about the need to make
the change personal and emotional and I
believe you would run laps God will you
do any of these things will you do any
of these things I'm pessimistic about
that I'm afraid that's why we exist as a
business school by the way but that's
another story will you do it you know
let me just give you examples of what do
I mean by that we have been teaching
organizations they need to introduce
radical change
personally I said to you I've been doing
it for 27 years and what sale among the
many lessons that we teach them what
they want that I always found out in my
mind is the is the importance of
undertaking change before you really
need it yeah you take a look doorway to
catch the disease to go to the doctor
call beforehand have a check-up you
never know
the same organizations you go into
companies enterprise
this is heretical salario profits go up
and then they go down where it's a good
time to change the people oh you say all
the time all the time but even add a
question and change you don't wait for
me
you always say that don't wait for
because is the worst time B is when the
lion attacks we panic and everything we
do is short term oriented and reactive
and not thinking and so on don't wait
for big causes they tell me that and you
know what when they do it we teach these
things I teach this to my MBAs every day
of my teaching videos and then you're
going to get the evidence I got the
evidence 85 percent of companies
undertake change
not that one day but at point B if you
what is wrong with you people you paid
all this money to come to London
Business School I taught you these
things maybe you didn't understand what
I was saying no it's one thing to know
nothing to do I'll give you another one
who have been teaching organizations
that when they enter in your market they
should never attack you don't never
imitate this is one of my things you
know if you enter in your market
remember it's a new market but for whom
for you there's somebody else in that
market an established player or players
with core competences and so on and we
have the evidence we show that if you
attack them head-on they will crush you
the people that win when they enter a
new market is the people that enter with
the differentiated strategy they will
tell them attack like a gorilla is it a
difficult message to understand do I
need to write a whole book on the bloody
thing yet I have written one I'm sure
you're going to go and read it and so on
no we tell these things to people again
good research shows that 92% of all
entries imitated is it amazing I love
these the kind of things you know
because it means that you will have to
come back again and again and again to
random business good you know it's
amazing isn't it doesn't matter how many
time you can people do kind of have it
again yeah you can have it again you
know yeah but you told my senior
exocrine tell mom you know
we bring the kids along I can tell
everyone you know because you're not
gonna do anything anyway
Celebi will be sort the problem in my
mind is not knowledge I will venture to
suggest to you that maybe I use
different passwords in different ways or
look it but I haven't told you anything
you didn't already know yeah but that's
not the issue okay you knew it will you
do any of these things or even a little
bit and that is a challenge in my
opinion to be aware of this knowing
doing up I know but I'm not doing and
create this bias for action in your
organization so with that thank you and
good luck
[Applause]
[Music]
you
[Music]

---

### Professor Lynda Gratton - The future of work | London Business School
URL: https://www.youtube.com/watch?v=6Z6L7iZlC9o

Idioma: en

[Music]
great to see everybody and what should
we say about the future of work well for
me it started about eight years ago I
have actually some of you know that I'm
just about to be married so I now have a
family of eight children but but but
some years ago I only had two suddenly
it's increased enormously and I took one
of them one of them my son Dominic who
was at that age I want 13 14 15 we're
doing I think those of you who've got
kids will know he was seeing what sort
of boys of that age do which was sitting
in his bedroom in Primrose Hill with a
computer a lot of the time and I said
you know Dom you've really got to sir
we've really got to Europe an age where
you've really got to see the rest of the
world and you just also you know sort of
age man thing wouldn't it be marvelous
if you could spend time with real men so
I'm thinking well where are the real men
in the world no comment about that right
now and and and I thought about the
Maasai warriors you know what better
place for Dom to see real guys with
spears to kill to kill Lions way away
from technology and so we got on a
little plane and then eventually ended
up in this tiny village masai village
where no electricity watching the sunset
I mean just marvelous stuff really and
really away from everything that is you
know central London and teenagers and as
we stood with a Masai warrior on the top
of a hill talking about you know the
world and the greatest things of being a
man there was a funny little sound can
anyone imagine what that funny little
sound was it was his mobile phone now
actually that for me was the beginning
of the future of work and it was that
year I started the future world
consortium which I really thought at the
time would only last and some of you
here are members of it I only thought it
would last a couple of years and then we
have the
end of the story we know what the future
of work would be and that would be it
well of course that's not it and I have
to say I mean even this week I've been
to two conferences about the future of
work where it's really obvious that
things are changing enormous oh by the
way I must show this other photograph
one of my MBA students sent me this can
you see it can you see what that is
there you know how the maths I have
these great holes in their ears teach
that's really it keeps his mobile phone
of course we all need to do that and so
I really wanted to talk first a book
first of all about technology the impact
of technology on work not to say by the
way that I have the answers to that
because my view is that this is an
emerging narrative but it's a narrative
that each one of you in terms of your
role in your organization you need to
have a point of view err on and actually
I have a point of view and I wanted to
share some of that with you the first
thing to remind ourselves is that the
sort of technology that's connecting
that Masai warrior is actually
connecting people all over the world
this is really an interesting set of
data from an Australian company called
freelancer and what they do is they buy
and severely they're a platform that
buys themselves work you know so you can
buy work from them you can get someone
to do the work you want mostly software
programming or you can sell your work as
a software programmer and this actually
shows the movement of globe of the world
of work around the world and you can see
immediately you see look there's the
coast of America coming out that's
Europe a little tiny bit happening in
South America quite a lot happening in
Australia China and India so this is
2013 2014 2015
okay so so immediately just by looking
this at this we can see by the way
nothing's happening in Africa here's
Africa because although that Maasai
warrior can use a telephone he can't use
broadband there isn't broadband in the
area that he's in and that's true for
much of Africa which is why for me
any of these maps Africa is a dark
continent but you can see how much more
is happening around the world why is
that well you know look this is we're so
familiar with Moore's law aren't we but
this is an extraordinary thing and you
can see that what's happening here is
that not only are people becoming more
connected but the technology that's
connecting them is becoming a lot
cheaper it's becoming cheaper and it's
becoming smaller and that means that
these connectivities are increasing whom
and where people get connected and of
course building the Internet of Things
so what's that going to do for work well
let me just make a couple of suggestions
this is I actually was at Davos a few
weeks ago but this is not a photograph I
took at Davos a couple of weeks ago it
was actually when I took a couple of
years back and what I found really
interesting about it is this is a whole
group of what you might call Davos men
so here they are you know Thomas
Friedman New York Times Larry Summers
economic advisor that is a Peter Thiel
MIT this guy here Stanford now that's
she's on you what hell's she doing here
and by the way Bill Gates is here but I
didn't get him on the photo so so why is
she here she's a 15 year old girl from
Pakistan she comes from the in
fact and she's not the one who got the
Nobel prize-winner prize by the way so
just in case you feel so so the clue to
the question is in this guy here Stefan
so teachers are first-year degree
students at Stanford in basic
programming a one-year program and he
did what a number of professors have
done he put his lectures online so that
anyone could rip could do the lectures
but more importantly he put the exam
online many tens of thousands of people
did that very difficult exam can anyone
imagine why she's here
she got the higher score that's a pretty
amazing thing isn't it how many Stanford
students do you think came in the top 20
non so we are beginning to see the
Democratic democratization of talent and
that's a very important point for any of
you as many of you are who are deeply
interested in talent I mean actually I
did get another one with with with Bill
so here is some of the technology
platforms that are underlying that
incredible connectivity which is not
just connecting people but it's also
connecting people and knowledge and so
what I want the first thing I want to
say is in terms of the impact of
technology on the future of work I think
it's it's allowing people and
organizations and functions like yours
to ask four questions where am I going
to work when am I going to work how am I
going to work and what am I going to do
and let me just mention something about
what am I going to do now some of you
are very familiar with this labor
statistics from you the US but actually
anything you saw in Europe or in the
OECD in general would look like this and
here's what you can see this is a
phenomena called hollowing out of work
and here it sits so here we have skills
range from low skill work to high skill
work this is the sort of stuff you do
this is the sort of stuff that people in
factories or preparing food or looking
after your elderly mother who's got
Alzheimer's are doing and this is middle
skill jobs operators and fabricators
production and craft office an admin do
you see what's happening there these
jobs are disappearing extremely quickly
why because basically artificial
intelligence machine learning robotics
can replace any task that is a routine
task where you can actually write down
what the task is and
when you know in the States for example
right now or even in the UK people say
the job loss is to do with immigration
that's not true job loss is to do with
automation massive loss of work of jobs
and and the challenge for governments
and I've been working quite closely with
the UK government before they got
completely wrapped up with brexit is
that quite a lot of these jobs
particularly these jobs like this are
jobs that men do semi skilled men do
their jobs like are driving a truck or
working in a factory and those are the
jobs that are now going so what you're
seeing is technology is now pushing out
on either of those sides is putting
pushing out that side that size side
with driverless trucks which by the way
a truck driver is the most common job
title in the u.s. right now so what
happens when all of those truck drivers
no longer have a job and it's also
pushing out this way my son who I spoke
to you about Dominic came back went to
university wanted to do medicine and is
just finishing in fact he's finishing
this month and he's starting the long
haul to be a surgeon now what's he doing
already well already most of the work
that Dom is doing in terms of practice
is not sitting there with a pair of
scissors and a needle he's actually
practicing on simulations to use robotic
arms and he's already doing that so we
are becoming augmented so one of the
challenges you face and I don't want to
underestimate this it's a huge thing is
your employees are anxious about the
impact of technology on their job how
many people would say that that you've
you feel in your organization right now
that people are worried about what's
going to happen to their jobs quite a
number of you and you coming back to
cost is's comments this morning can't
make this a
learning platform it has to be something
where you build a narrative about what's
going to happen to them and I can tell
you because I'm doing this with
companies right now that's an extremely
difficult thing to do and you've got to
think about what it is we say to people
that acknowledges the reality of their
work so here's the paradox there's a few
paradoxes about the impact of technology
on work but here's here's one of them
named after a guy called Marivic and
here it is how many people here could
play chess and beat a chess master how
many how many people who could do that
but none of us really could we but
actually a pretty good computer
particularly if it's linked up with
other computers can do that why well
because chess and indeed go which is a
more and more difficult again can you
can actually write the rules for it so a
computer can do it but here's something
that my three-year-old grandchild can do
incredibly easily but a robot can't and
by the way this is a very important
phenomena here because that means that
robots find it difficult to sort stuff
to pick up an old personal and to help
them around they find it difficult to do
anything that requires mobility if you
notice in your organization's those of
you that use robots they're mostly
stationary and they're sitting behind
you know a fence to protect humans from
them that will change in a Japan right
now remember Japan is the leading
country in the world on the use of
robotics most Japanese people feel very
relaxed about being around robots there
they are already developing a robot that
really will pick your mum up and take
her to the loo and sit on the loo and
guess what your mum your age and mother
would rather a robot did it and you did
it so so this is going to change and
it's going to change really quickly and
why is it going to change really quickly
well here's the
the point is that if you look at human
learning across generations it goes like
this we really hardly learn at all from
one generation to the next in fact if
anything we sometimes go back computers
it's just a steady steady
increase and so what you're going to see
is very very rapid development in
robotics and developments in artificial
intelligence and machine learning I mean
already Boston Dynamics have got this
little guy he cost the fortune by the
way and they stopped making him but you
can see that it's possible to make
robots that sort of can stagger around
so what's the point of this well here's
the thing that you need to remember and
it's a very simple point any sort of
jobs can either be any task can be
divided into something that's routine or
something that's non routine anything
that's routine be it you know my my fun
doing all of his wonderful surgeon stuff
or biet which actually would sit there
manual routine or manual or routine
analytical all of that it will be
substituted all of that will be
substituted and what's left is stuff
that's very difficult to make into an
easily quantified rules so some of the
analytical stuff like persuading and
selling and forming hypotheses and some
of the manual stuff like truck driving
mmm-hmm
and and where are we with track driving
from I honestly thought in a couple of
years back when we looked at the future
of work that governments would step in
and ban autonomous vehicles and the
reason I thought they would do that is
it will create mass unemployment in a
workforce who are already finding it
difficult to get a job there is that is
not going to happen and it won't happen
because no government will want to step
up and regulate driverless cars so you
will see driverless cars and it will
happen probably faster than you think it
will my kids I don't know about yours my
kids haven't learnt to drive neither of
them have draw
because they said what what's the point
you know I'm going to have I'm going to
have a driverless car very soon what's
the point so so that's the first thing
the first thing to say is there is an
evolving narrative around technology in
work I look at it all the time I was at
the Royal Society of Arts on Monday
we're in a group with Google looking at
the impact of technology on work we
honestly don't know where it's going and
if anyone tells you that they do that
there's no way that we know but you sit
in organizations where people want the
story and I think that you have to build
a narrative about augmentation about
re-skilling
about lifelong learning that's the first
thing second thing that I think is
changing the nature of work is low
growth the fact is that over the last
decades most of us are in countries
where we have very low growth rates and
interestingly if you look at the way
that you've designed your organizations
particularly in terms of promotion and
hierarchy they sort of assume that
you're in an industry that's growing but
and now many of you are not and I think
that this is going to start questioning
about the why of work why am i at work
what is it I'm doing and let me just
remind you and if anyone was one
wondering about brexit or Trump they
just have to look at this this data
isn't brand new actually but it's it's a
very important data from the World Bank
and here's what it shows it looks at the
winners of unloose over the last period
of time and here we have it there are
two major losers one is the global poor
many of whom particular they're in
sub-sahara Africa are poorer now than
they would have been five or ten years
ago and the second is the traditional
middle class so this is really the first
years or the first decade when your
children in Europe or in the States when
asked do you think that you'll do better
than your parents said they said no they
said no
and that was a very big deal because
most of us are used to living in a
society where the answer is yes things
are going to get better now of course if
you're living in China or in India in
the emerging economies then when you ask
the same question of children what is it
they say they say yes of course and so
what we're seeing is that this group
here are finding it hard and they are
also being impacted disproportionately
by technology so the RSA is just
bringing out a report on the impact of
technology on low-skilled work low skill
work by the way
is fifteen forty nine percent of the
work that's done in the UK so that's the
group who are particularly hit by
technology and at the same time they're
not seeing the way their way of living
their lifestyle getting any better so
where does that leave us well I wrote a
book some time ago called the shift in
fact that you just had a reference to it
and in it I said I wonder if the
contract between the individual and the
organization is going to begin to change
I don't think it has chose changed but
what I'm going to show you in a moment
is ways that I think it could change but
here's the point that the old contract
looked something like this it basically
said I work to make money to buy stuff
that makes me happy that's the great
contract isn't it between you and your
employer that somehow the contract is
negotiated by tangible assets by money
that that they are then able to spend
that stuff on goods or products or
services that make them happy and what
do I want to suggest is that that is
beginning to change
and I don't think yet that many
companies what you may say that sort of
as if
sofy I don't see yet many companies
actually realizing how profound that
change will be and how profound is going
to affect your relationship with their
employers and what I want to show later
is that that relationship is going to
have work at the center of it it's going
to have I work to make me happy not to
say that money isn't important of course
it is it's course it's important but
actually fundamentally we have to think
about work as being the thing not the
money that you get from work as being a
thing and I'm going to show you a few
more reasons why I think that's the case
the next thing I want to mention though
in terms of the shifts that are changing
the nature of work is resource
constraints now I know right now it's
not particularly fashionable to talk
about climate change but actually
historically it's had an impact on
organizational thinking and I think it
will in the future just to remind
ourselves that this was London in the
50s in fact I was born in 1955 and I can
remember as a child being in these these
sort of smaug's I can remember putting
my hand out and not being able to see my
my own hand walking to school in the
morning I wasn't brought up in the
London is brought up in Liverpool and
here is Beijing at last year and of
course one thing to remember and this is
partly why it's so difficult to get a
global consensus on on climate change is
that countries are saying you went
through that without anyone telling you
you have to stop and yet you're now
asking us as we go through our
industrial revolution to do something
that is going to not necessarily be in
our best interest so that's not really
the point I wanted to make the point I
wanted to make is that sooner or later
people are going to begin to think again
about this and this is NASA data and it
looks at
projected global temperatures it's a
scenario I teach a class at London
Business School in fact I'm teaching at
the week after next on the future of
work we have a it's a whole it's a whole
you know ten ten lectures and I get the
head of scenario planning from shell in
to teach our students because its shell
is used and I think there's some people
from shell here today I've always had
amazing scenario planning and so these
this is what this is one of the things
that he shows the class and he says look
you know this is where we think we don't
know where temperature change is going
to go this is our very pet best-case
scenario and this is our sort of
worst-case scenario the thing to
remember is that once you hit two
percent two degrees of change is when
the general consensus is you begin to
get significant and probably damage
which is difficult then to retrieve
irretrievable damage now we're here
aren't we where someone were here which
one of those lines do you think we're
currently on the orange one or the red
one where do you think we are orange or
red yeah we're here so so the truth is
and you know at Davos last week there's
always always always people banging on
about climate change but at the moment
nobody is particularly interested in it
but my prediction is it will become
interesting again it really will become
interesting again and you've got to have
again a point of view or a narrative
about that and the poster child for
climate changes you know is Paul Polman
from Unilever an amazing guy has taught
at London Business School a couple of
times and and what Paul has done is he's
actually been very explicit about work
at Unilever and so what he said is I
want you general managers to reduce the
carbon footprint across your not just
your production lines but also your
supply chains which is a very big deal
and by the way I'm going to pay your
bonus on the basis of whether you've
done that
I think Paul is very influential I can
feel his the influence he's having on
other CEOs and I I want to say to you
that even though at the moment climate
change isn't on your agenda in terms of
the future of work I think it will be it
will be within the next five years and
it will be because in the next five
years were going to be there we're going
to hit one degree and when we hit one
degree you'll notice that the world
starts to to reconsider what it's going
to say about about climate change what
how does that affect work what actually
affects work in all sorts of interesting
ways if you take a look at Unilever as
main office building as opposed to its
supply chains where do you think the
major crater of co2 is in the way it
does this business in its main office
where do you think that is where is that
if you were to measure all of the co2
that Unilever creates in its
headquarters what's been one of the
major creators of co2 yeah coming to
work coming to work and sitting in an
air-conditioned office so if you're
really serious about that what would you
say don't come to don't come to work
don't get on that train don't sit in
that air-conditioned office and
interestingly Unilever has now got as
you put some of you will know one of the
most comprehensive flexible working
practices but it didn't come from
anything around you know wouldn't it be
great for you although that might have
been part of it it was actually pushed
forward by Pullman and his team saying
you need to get your co2 levels down
okay so but of course the challenge here
and I think it's it's not a challenge
specifically for the future of work but
it's a challenge for the future of
leadership and I'm going to come back to
this but at the end of my talk today is
it does remind us that we're living in a
multi-stakeholder world and it does
remind everyone of us that when we teach
our students as we do or in you in your
case as you help develop
your leaders and managers you've got to
help them realize that it's that they
have multiple people including societal
groups NGOs government's organizations
individuals who they now have to
understand and they have to appreciate
where each one of these groups are
coming from part of it of course is
globalization and actually again if we
go back somebody asked me earlier would
I say something about Davos last week
because I'm a fellow of Davos and I did
a lot of stuff there was there a theme
well yeah of course there was a city and
a part of it was about the implications
and backlashes of globalization and just
let's remind ourselves where we are in
terms of globalization and the future of
work immigration has been part of the
story for centuries in most of our
countries it's been a huge crater of
wealth and a huge crater of value right
across the world and indeed on top of
that we're also seeing fundamental
rebalancing of the world and we've been
talking about this since 2000 really I
think the year 2000 when people started
really talking about the globalization
of industries now you may be surprised
that it hasn't happened faster than it
did I mean actually here's China at
building large companies but maybe not
as fast as you thought it might here's
India with one of my favorite companies
Tata consulting services I adore TCS I
think it's a marvelous company employees
by the way now organically growing
380,000 people grows at 20% a year
organically that's that's quite a story
isn't it so they are these countries are
building amazing multinationals here's
the UK we've got fewer than we had and
France and Germany so this is happening
but let's look at the future one way of
predicting where the talent markets are
going to be is to look at where where
the tertiary education is a you know
who's been educating over the age of 16
now this isn't up what I'm about to show
you is not a perfect
way of looking at talent pools because
actually in India and China some of the
educational establishments are of very
poor quality so I could have also shown
you but won't the ranking of the world's
educational institutions then you'll
know that they're mostly in the northern
hemisphere very few in China very few in
India however let's not get complacent
about this and just take a look at the
figures 2000 2010 2020 so that's really
what's your that's your consumer base
that's your talent base and that's
changing fundamentally and however much
people may want to push back the forces
of globalization I don't think that's
going to work I think actually that
globalization will continue and you will
see countries like China and India
producing enormous numbers of educated
young people and work I think is also
shaped by social norms by you know how
we see ourselves how we see our families
how we see our loved one again asking
why are we working when do work how do
we work and here's one of the major
shapers as I see it and it's actually to
do with family structure this is work
from Stu Friedman who's a friend of mine
who who works at Wharton Business School
and for some years he's been asking his
students and you can see we've got data
here from 2012 1992 and 2012 and this is
a very simple question do you plan to
have or to adopt children
well 1992 everyone pretty much said yes
and 2012 everyone pretty much says do
you know I don't really know and that
for me as a point is not that they're
going to have fewer children they might
we don't know that they're too young or
too that these are MBA students but
actually when I teach the hundred year
life to my MBA students as I do as part
of my future of work elective I asked
them in fact we've asked every single
MBA students this year because we've
done a workshop
for every single student one of the
questions we ask them with a little
clicker is what sort of family structure
do you think you're going to have and
guess what they say let me ask you how
many how many people say that the most
that the largest number of people say
we're going to have a traditional family
structure where one person ie the man
and all the money does anyone know how
many people say it's going to be a dual
career yeah and it is I mean the vast
majority of our students and not only
are they building dual careers they're
also doing what sociologists call
assorted if mating they're marrying
people just like them what's happening
actually much of society you're choosing
people just you're choosing to spend
time with people just like you of course
that's got big implications for some of
the things that I spoke about earlier
because one of course I didn't really
point out to earlier and maybe we should
have done I'm just remembering it we
didn't really make enough of that did we
that you didn't say enough about that so
so that you can see a sort of mating is
simply going to encourage that very very
successful family structures where each
of them is the same but interestingly in
terms of the future of work I think that
many of you in organizations are not
really prepared for dual careers you're
not really prepared for the fact that
actually if you're going to live a
hundred years I'm going to talk about
that in a second
to be honest the most sensible family
structure is that you balance risk
between two of you that that would be
absolutely the most sensible thing to do
and that means that sometimes you go off
and learn or take a sabbatical or
explore or do whatever and the other
person pulls in and so this sort of what
we might call a sort of seesaw option
where couples somehow make it work we
think that that's in many of the talent
pools that you operate in that's going
to be what people most want to do and
that requires a level of
sort of self understanding and
relationship building which is way
beyond anything that was required in a
traditional marriage and they will want
you to understand that and to appreciate
it and of course you're already seeing
this that right across the world women
are working women with with children are
working okay in in career and it will in
Japan they're not but actually in many
of the developed countries of the world
female participation rates are very high
and finally of course obviously I'm
going to talk about longevity because
you heard that Andrew and I have just
finished our book it's been out since
June about what happens when everybody
lives to a hundred and let me just very
quickly rehearse this and I'm going to
run a workshop afterwards I just want to
say a few things very quickly isn't that
astounding that's the increase in life
expectancy where is it going to end
actually we had some really fancy pants
doctors at Davos and they all say a
hundred and twenty that's where they're
sort of aiming as where they seem to
want to live two hundred and twenty but
actually the thing that we want to
suggest to you when Andrew and I want to
talk to you about in terms of long lives
in terms of 100 year life is it's not
that you're going to be just like you
are now and then at the very end for 20
years you're going to be like really old
and then you're going to die it's it's
imagine that that extra years was given
to you every year so let's say instead
of having 12 months a year you had 15 or
let's say every month instead of having
four weeks you had six weeks or every
week instead having seven days you had
nine days or every day instead of having
24 hours you've got 32 that's the way to
think about it that's the way to think
about long life I think which is why
we're writing another book about it I
think it will fundamentally change
we think it will lead to a fundamental
restructuring of how we think about
lives how we think about the structure
of lives so let me show you why Andrew
the economist worked out the finances of
what you would have to do and Jane Jane
is one of our sort of protagonists in
the book she's going to live a hundred
years she was born in 1998 and if she
wanted to as many of your parents or
maybe even you thought you would retire
at 65
how much would she have to save how many
people here are saving 25 percent of
their income D'Arnot
you heard it for me Wow do you know what
that means it means you're gonna have to
live work a lot longer what do you think
is going to be the period if you if you
live to a hundred years and some of you
will and your kids certainly will how
long do you think you'll be working -
100 - 100 - 80 yeah I mean it's really
fundamental you know we've this is
humans it's really fascinating to be
alive now isn't it because we're having
to deal with unbelievable speed of
technological change and at the same
time well you have to what until we're
80 and it's all happening together wow
this is a really interesting period to
be around isn't it we're in a transition
that began to realize that we're in a
major transition just like the one that
you saw after the Industrial Revolution
and all the sort of misery that that
created before things settle down that's
where we are
so that means you're going to have to
work longer well that's great because we
all love work and actually in fact you
can see that people are already doing
that people are already working longer
some aren't at all as up there you are
you must be the only Greek working today
you're not even 50 you
the two of you what that must be the
whole Greek and you're not even
fifty-five yet okay so what was that
what's what's the headlines on this
pretty simple you can't have a three
stage life anymore you've got to have a
multi stage life you've got to do lots
of different things you've got to not
just have full-time education full time
working full time retirement clearly
you're going to have to have lifelong
education on you and that's your job how
exciting is that your job is to provide
lifelong education for your employees
the government has to do the same by the
way your job is to help your employees
lead a multi-stage life let them go
waste only academics have sabbaticals
why can't you have a sabbatical why is
the only 18 year old kids who have a gap
year why can't you have a gap here why
don't you become an independent producer
why doesn't every single person in this
room go out and build a company why are
we doing that one now I've told you that
you're going to be around for another 50
years 1 or 60 years you got plenty of
time plenty you plan to look after the
kids build a business take a gap year
take a sabbatical Wow isn't it amazing
that's the way to think about it and
that's what you need to build as a
narrative for your employees what might
you do look there's lots of things you
can do but here's some things I think
you could be thinking about or doing
right now
number one prepare for diversity I know
you know we've been talking about
diversity forever we all know that but
actually I'm not just talking about
gender diversity I'm also saying that
the sort of jobs that are going to be
created in the future and the sort of
ecosystems that are going to be
supporting them will have both
demographic diversity in terms of women
and older workers and these couples were
you know one time one is working one
time the other isn't but huge working
arrangements freelancers joint ventures
micro enterprises so you know
the idea of the man with the wife at
home coming to you until the age of 65
full-time that's a minority
please don't build your HR strategy
around that person because actually
there's not many of them they are coming
in all sort of shapes of sight outside
and that means by the way you have to
redesign your HR strategy and here's
some immediate thoughts about that scrap
graduate internships forget it why bring
everybody in when they're 21
I mean seriously why are you doing that
it's like why is the government giving
us all our money for education to be
spent before we were 21 years old it's
mad it's got to change why don't you be
the company that changes it why aren't
you bringing in 30 year olds once
they've already started their business
why aren't you delinking pay with age
one of the reasons you don't want your
over-60s to stay is because every year
you pay them more that's a mistake it
makes them very expensive one yes you
need to think about whether they're
productive or not and your only use
you're only doing that because you don't
have good productivity measures if you
did you'd pay people on the basis of
their performance and their productivity
not on their basis of their age scrap
retirement if you're in a company that
says everybody should go leave at 55 or
60 forget it you know it was really
interesting I ran a workshop at Davos
100 year life and one of the people that
was on the panel with me or on the
workshop with me was the woman who runs
the American Association for Retired
people they don't call it that anymore
they could AARP it has as members wait
for this 38 million people it's a
biggest voluntary camp a group in the
world she said and it really held with
me and I'm sort of mulling it over a lot
she said because I kept saying you know
look at me I'm 62 60s and new 40
she says forget that 60 is not the new
40
it's not the new 50 60 is a 50 year old
with another 10 years experience and
that's the point you need to think about
you're over 55 of assets not as
liabilities and you need to think about
all the wisdom and experience and you
know ways of thinking about the world
that they've got okay number two and you
can do this right now
refocus from tangible assets just
spending all your time talking to people
about money to intangible assets and
you're very fortunate because Andrew and
I have done a lot of work on intangible
assets and here they are
productivity vitality transformation if
you go to our website
www.farkyaratanlar.org or than 10,000
last time we looked at with 10,000 and
the results are very interesting one
thing they've shown and we've written to
HP our blogs about this is guess what
the stereotyping of Ages is absolute
nonsense please do not use the word
millennial baby boomers Gen X Gen Y stop
using those terms they are stereotypical
and there's no evidence for them we
found no age differences in people's
interest in keeping healthy or
interested in learning or interest in
use it the way that they're using
technology is we are making such
terrible stereotypical comments about
different age groups number three and
this is my final point this does have
big implications for leadership I'm not
going to say too much about this I wrote
about this in a book called the key but
but let me just very briefly summarize
what I think this means for leadership I
think basically we have to realize that
leaders are operating in probably the
most difficult context that we've seen
them I certainly I've been at London
Business School now for 28 years and I
can see that the context that leaders
are working in is very very complex and
difficult to understand and here's four
reasons why that's the case
a massive short-term pressure in terms
of profits followers who talk are very
bold in terms of the where employees are
very bold in terms of what they want
citizens that are watching your tale all
the time and a great deal of
transparency so what's the way around
that I want to suggest that you might
want to think as you're thinking about
building your leaders two things one is
what I might you might call the the
outer journey which is what is it the
join the journey that your leaders take
to understand the world that they're
living in and the other would be the
inner journey what's the journey that
your leaders are taking to understand
themselves and they both they need to
take both those both in terms of the
external journey you know in terms of
building alliances and understanding the
world and how it might change and in
terms of authenticity in terms of both
their knowledge of themselves but also
the crucible experiences the things that
you're giving to them that help them
understand themselves more more deeply
and I just want to finish by saying you
know I'm so thrilled everybody's here
today we are in a period of transition I
say that quite sort of loosely but it's
taken me a couple of years to realize
that that this is a transitional state
it has within it a great deal of anxiety
and your job as HR strategists is to
help your organization and to help your
employees build a narrative about the
future that is honest but at the same
time positive and then put in place what
they need to make those positive changes
thanks very much
[Applause]
[Music]
you
[Music]

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### [Private video]
URL: https://www.youtube.com/watch?v=wJ6YPzOrxbM

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### Nordea and LBS – Developing a pipeline of next-generation strategic leaders | London Business School
URL: https://www.youtube.com/watch?v=UPNH1MKTt6U

Idioma: en

[Music]
the noir de esta tu leadership program
is designed for senior leaders who have
considerable influence over the
organizational strategy the program is
designed to release your dots and
reflect the challenges that the bank
save saying over time it's thinking
about this type of leader that will make
the bank more successful over the long
term the program consists of three main
modules module one is held at London
Business School in London that's all
about the helping leaders to inspire
their team and influence people model
too we then moved to Stockholm and we
talked about strategic thinking module
three is in Copenhagen there we're
focusing on strategic execution
[Music]
I really hope that we are going to be a
very close cooking good I have a high
expectations more like getting some aha
moment when I look at the end of the
program I hope I hope to be a much more
authentic leader to be fueled by
world-class knowledge being fired by for
past lectures and pals have a lot of fun
as well and or the other guys will only
work
[Music]
I realize the importance of severing of
it away from Jane task and pudding
intention is not a perspective I have
think that the way that I communicate I
have put more energy in the soul is
telling we also learned that within
presentation whenever I speak to my
people trying to motivate them that less
is more always which is quite hold
similar type of things we are actually
facing and struggling this what's great
is that many of the components of the
program support some of the intentions
of the organization longer term we
divide participants in for coaching
grooves those coaching groups have a
combination of 12 on coaching and also
peer coaching in those critical conclude
that we attractive has been a very good
environment to exchange ideas and also
to learn from each other I think I
learned something about my presentation
and putting into those of the most I
think I mean I remember the first time
we met in the coaching group I mean but
for telling their own our own story at
the first first program and pepper that
was quite okay and then it's developed
for the next module and I think that
what will be made the first time then we
created to talk yes I mean so many new
people from different parts of the
organization that I normally wouldn't
thank you yes getting network yes
getting that network and in that sense
is actually said the program is ending
I think it's the best course I little
participated fully agree fully agree to
know everything

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### Supply Chain Leadership Programme Overview London Business School 1
URL: https://www.youtube.com/watch?v=QzuAettWf28

Idioma: en

[Music]
supply chain leadership program is a
deep comprehensive and executive level
overview of supply chain management it
as being designed to cover the key
concepts and themes relevant to
intersection between supply chain
management and corporate strategy it
targets executives who are planning to
move into general management position oh
who have recently moved into a planet
such a role and blue service career
accelerator for these executives this
involvement and and executive level of
review of all of the key critical
aspects of supply chain and a state
institution including infrastructure
with logistics warehouse management flow
management inventory management internal
coordination performance metric and
organization external relationships 40g
sourcing than risk management and we
finally move on to discussing the impact
of digital technologies and
sustainability on long-term supply chain
strategies we have worked very hard to
make this program a unique experience
that has a lasting impact on the career
of participants and we have put together
to achieve this a range of teaching
methods including the review of
fundamental theory and concepts and
skills guest speakers and case studies
and visits of sight and facilities that
really are at the cutting edge of
various confess
and then practices in supply chain
management and warehousing for example
another very strong experiential
component of the supply chain leadership
program are a range of simulation games
that we have designed in connection with
the different teams that we cover and
then put the participants in the
situation of making specific decisions
in a control environment that day we can
analyze as a group to see what worked
what didn't work and draw some some
lessons on specific supply chain
decision part of what makes this program
unique is the quality and diversity of
the external contributors beyond the
moment in school are going to join us in
order to share their experience a good
example of this is the strategy
consulting firm like Hinkley with a
supply chain for leadership team and we
have the leaders of that team basically
coming into the program to cover various
topics and share their unique experience
acquired through interactions with many
clients in number of industries
Mackenzie's involvement in the supplies
and leadership program is mainly around
two days where we talk about supplies
and IT we talk about sales and
operations planning to place an
organization talent development these
two days will be hosted in our within
the office in London and we will also
have a joint dinner we bring our client
experience we bring our client studies
and with this make it more tangible when
more applicable increasingly corporate
performance is not driven by decisions
and environment inside firms but really
results from the competition of the
wider supply chains
and for that reason flights in
management is gaining a really critical
strategic importance on the agenda of
corporate leaders and organizations
I

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### [Private video]
URL: https://www.youtube.com/watch?v=onx6IgqaR90

Transcrição não disponível

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### Executive Education - Cristina Escallón, 'Taster' - How to understand and manage our brain | LBS
URL: https://www.youtube.com/watch?v=N12ZEBEp_Co

Idioma: en

[Music]
so I'm going to start with some brain
test and if you're holding anything in
your hands I want you to put it down so
the first exercise is very simple you
are going to see something's on the
screen and what I want you to do is to
say what you're seeing as fast as you
can in clap as you do it and I want you
to do it loud and as fast as you can and
you're not competing with your neighbor
you're doing it with yourself okay
so I will do the first one so hold on
I'll just show you how it goes so you do
this blue red green yellow okay so ready
hands up go I can sense a bit of
distrust in the room another one so good
that was faster now we're going to do
another sequence instructions are the
same state the colors you see as fast as
you can and I'm going to give you a
little clue I am NOT tricking you yet
and the objective is still the same as
fast as you can and loud ready go how
when you didn't trust me there you go
again
you're fine on the flight ready go right
so guess what I'm going to do so you
know what I'm going to do to you and you
have to save the color you see as fast
as you can ready go
okay ready try again next one okay one
more are you ready
silence ready you're good at the smell
right so do this one fast go so I'm sort
of in two months I obviously don't know
this group yet so much so I can do two
things I can either explain to you why
this is happening or I can wait and tell
you much later in the presentation when
it comes in the flow so just on the way
the brain works if I don't tell you why
this happens now you're going to have a
spark of curiosity so it may mean that
you pay more attention to the whole
presentation but the brain also gets
very busy with a little problem it has
and it hangs on to it so if I don't
explain this to you you may not listen
to me and then I'm so I sort of want to
see what we have in the room if you'd
rather have the explanation now raise
your hands okay and if you're happy to
wait to raise your hands okay so the
brain is a very curious little creature
so the curious ones have one it's a very
simple thing the brain reads by a slight
tiny meaning me second faster than it
identifies color so while your brain
knows what it has to do the brain is
sort of lazy and it says I know that I'm
supposed to be identifying color but
actually reading is easier so you know
just forget what Christina said and go
with whatever is easier so if you are a
lizard and you're out in the wild and
you suddenly see this coming up what are
you better off thinking that it's a rope
or a snake yeah snake right because if
it's a rope everything is fine if it was
a snake and you thought it was a rope
then game over so in a way the team also
for them is find lunch rather than be
lunch so you want to be paranoid and
assume everything in front of you could
be there to eat you and then your
chances of survival are higher and if
you look across
animals the animals that are most clingy
and most paranoid survive longest so you
take things like Scorpios they've been
around for a very very long time because
they are quite nervous and they're
always watching out for danger so that
has helped them survive so what happens
is that AB human beings because we have
that functionality wired in for 300
million years that's where we spend most
of our time even though we think we're
these rational human beings who are
always doing neocortex type stuff but
the reality is our biggest driver is the
thing that has been running for three
hundred million years fairly
successfully so while we don't notice it
they today we're looking at everything
as if it was going to eat us and to take
this a little bit further if you take
the average person we have about one
foot per second which means sixty
thousand volts per day on average what
percentage of that do you think are no
thoughts versus repeat thoughts so how
what percentage would be new take a
guess how much point one okay that's a
little bit magazine you see and you see
the brain is quite negative so about 95
percent of what we think are we thought
we're just going over and over the soft
we've thought about particularly if it's
a negative thought right if somebody did
something to you you're like I can't
believe they did this to me and how many
times do you tell yourself that for
years to come
now how useful is that because you know
they did that to you you know you think
that they are idiots
but you keep on telling yourself this as
if it was really useful new information
now often 95% which is a repeat what
percentage do you think is positive
versus negative
twenty-eight that's my father's favorite
number good number is that the positive
or negative twenty positive any other so
now I've already sort of you know set
you up for imagining something like
negative so it's seventy five seventy
five it's negative so the average human
being spend seventy five percent of
their day thinking about repeat negative
things and twenty percent on positive
but repeat things so they're good but
you're just you know using that space in
your brain to go through the same thing
only five percent roughly is known and
if you take the plate of positive
negative you know a tiny percentage is
positive and no yeah now it's verified
individual so some people are obviously
more positive more negative and there is
a neurological reason for it I mean part
of it of course is attitude but part of
it is to do with the way your brain is
wired so some people have more activity
in their left prefrontal cortex which is
a part here in the brain and if you have
more or less activity there you will
tend to be a more positive or negative
person so part of that is wired in about
50% they think it's wired in now those
of you who are thinking 50% is already
wired what's the point I can tell you
which side of the spectrum you sit on
and those who are saying great I still
have fifty percent to play with and you
know that's probably telling you
something about the activity in your
brain you absolutely can change so there
is something called neuroplasticity yes
and I'll get I'll talk about that when
we get to neural pathways but basically
brains are constantly changing so right
now as you're sitting there hopefully
listening to me or daydreaming or doing
whatever you're doing your brain is
changing so you are literally having
neurons light up in a different pattern
and that's creating a new pathway in
your brain so the brain is constantly
changing and there is a lot of research
where you know people have big accidents
and let
say they lose their hearing their
possibility to hear to do something now
there's a part of the brain that is
usually associated with hearing you can
actually is up completely damaged you
might be able to learn how to hear from
a different part of your brain so that's
all about neuroplasticity and rewiring
the brain so absolutely we can change no
no synesthesia is it synesthesia is when
you hear a flavor or you so that's where
basically the cabling in your brain gets
a little bit mixed up and so you start
combining different different them yes
senses okay so here is a brain truth the
brain is fairly paranoid and it has an
inbuilt negativity bias because we come
from reptiles or our brain started with
reptiles whether you like it or not
whether you're positive or not the
reality is that your brain is wired to
be negative so let's talk about the
social aspects of the brain what makes
us different when we're born compared to
other animals how are we different
pretty useless why is that why are we
more useless than all the other animals
yeah but look at the picture there's a
hint exactly it's the walking bit so you
look at all other animals and the more
primitive they are the faster they get
up on their feet or whatever it is to
get up on and they move around so they
can basically go and get water food
whatever they need to survive human
beings if we follow that principle which
all animals follow in the whole idea is
that you should stay in the womb for as
long as it takes your brain to develop
enough that it can control the body in
other words you should stay there until
you can walk so in human beings that
would mean stay there for two years yeah
so who has have children here how would
you feel about what sorry I meant women
have like physically
like whoa laughs human razor has soap so
you gave birth you know you gave birth
somewhere nine months or a little bit
earlier I don't have children but from
what I hear it's it's sort of painful
imagine if you have to wait two years
and then give birth right that's just
physically probably not possible the
birth canal can't deal with it
particularly because our head is so big
so we are born ridiculously premature of
all the animals we are the most useless
beings when we sort of come out if I
gave you a math problem you would be
engaging the sort of rational part of
the brain if I say rest for one minute
and I'll give you the next problem as
soon as I give you any slack most brains
will tend to go to something social
you'll immediately start thinking about
you know what your partner said what
your children are doing
how annoying your boss is your brain
goes to people usually so when the brain
is idle its favorite network is the
social brain because we're obsessed with
it it was our way of surviving when we
were born so let's do a little test I'm
going to give you two logic problems and
let's see what happens with your brain
very easy so there's a rule which is
people under 18 cannot drink alcohol
each person is holding a card which has
the drink and their age so I'm going to
show you four cards and you have to tell
me which two cards you need to turn over
to make sure the rule is not being
broken okay so and do me a favor just
raise your hand when you have the answer
don't shout it out just raise your hand
okay see several hands going up okay so
what's the answer
whiskey and m15 I'm happy so you know
you don't care what the soda drinker is
doing or the 25 year old whiskey m50
okay so now next question cars with even
numbers will always have blue on their
opposite face each card has a color on
one side and the number on the other
side so I'm going to show you four cards
which two cards so you need to turn over
to see if the rule is being broken raise
your hand when you have the answer
lots of thinking faces okay so those of
you who raised your head what's the
answer
louder Ivan read anybody has a different
answer
eighth and blue okay that's a slightly
different answer what else no two cards
okay so the answer is eight and red now
less than 25% of people get this right
even people who are trained in logics
and mathematics and by the way the
reason is if I turn blue over I don't
really care if it has an ace I'm happy
if it has a five I'm happy most people
get the red in the Blue Room if I turn
the red around and in houses six were in
trouble all right so I need to turn the
red to make sure there's no problem why
is this problem more difficult to solve
than the previous one when they are
identical you realize they are identical
right I mean I just change the sort of
names in it yeah because this is a
social problem you know the other one is
a social problem you're trying to catch
cheaters rain is really good at
detecting cheaters so they're exactly
the same problem and by the way the guys
who came up with this experiment the way
I've seen it is they always do it in the
inverse order so this is a bit of a
shorter test scenario because I'm doing
the answer first you get to do the easy
one and then you could just apply sort
of the same logic and even then people
struggle much more with this one so I
bet some of you even though I explained
that you're still thinking like why why
is the red one right it's very simple
there are no people in the story no
characters and your brain will do much
better whenever it's dealing with social
things which also is a very important
element in learning if you want to
remember any of the stuff I'm saying and
on average people remember maximum ten
percent of what they hear go and tell
people about this so when you're leaving
and you're in the tube just talk to your
neighbor and say hey did you know
whatever fact you thought was
interesting or get home and tell people
about it the more you use it with other
people your
the pathway and you sort of have you
know the hook of I'm dealing with human
beings so you're making it a little bit
bolder and a little bit darker okay so
great truth the brain primary network is
the social network it's the one we go to
when let's idle and we have a highly
adaptable brain so a bit of a summary
imagine this if you want to think of it
in picture terms imagine you had a huge
Scrabble with you know millions and
millions of letters your brain is a bit
of a filter and just a few letters make
it through and then with everything else
you have in your brain you create a
little story so you see something happen
and you decide you know oh he clearly
likes me doesn't like me
whatever and based on that story you
tell yourself you feel something you
feel and when you feel happy and based
on that emotion you then react and the
reaction could be to do nothing and that
reaction that action becomes you know
another one of these cycles for somebody
else so the point is you can choose
which letters you allow in and you can
play with how you put them together and
you can come up with a completely
different version of the you know the
knife we're having so it's not so much
what happens to you it's the story you
tell yourself about what is happening
that makes the difference to how you
live your life

---

### Essentials of Leadership: Programme Experience l London Business School
URL: https://www.youtube.com/watch?v=rPqw7SWQebw

Idioma: en

I chose to study the essentials of
leadership at the London Business School
because I was looking to scale up my
management skills so that I could scale
up in my functions at work my career
objectives are to move up in the company
and assume a larger leadership role
I was looking how to develop in terms of
my leadership but also just my
personality you can always improve I
thought this opportunity with the
central leadership gave a very holistic
view of leadership and also seemed to
link things together and with a very
global class I thought I would get a lot
of inspiration as well the energy in the
room from the professors the level of
discussion the intensity of discussion
and challenges be particularly rewarding
and stimulating it's not a tremendous
value to my own future Dan Clerval gave
us a lecture on change and on purpose
you could just feel that he really lives
and believes what he's saying the global
tech exercise was an exercise where as a
group we had to digest a lot of
information with regard to a case study
in a particular business that was going
into decline
the simulation itself helps to get us
and get people into discussing things
rather than just digesting information
one of the other really impressive
things which you know interesting
feedback in terms of the decisions you
were making and the progress you're
making
against the ultimate idea turn the
company around next enter the 360
feedback that we received a little bit
the best self feedback has helped me
recognize that I don't get energy out of
doing some of the things that are my
strengths and they can play to my
strengths and being cognizant of that I
probably have been previously I see that
I can do accomplish things that maybe in
the past I thought were not possible for
me the benefits an intensive program
like this specifically for me as a Chris
immense focus you don't have to take too
much time out what's already a busy
schedule from a work perspective you're
constantly inside the fact of how to
change how to improve on yourself and
things I picked up this week at which
there's many I can distill down and put
into action immediately next week
probably one of the most surprising
things for me was the diversity of the
group some 30 different countries were
represented across one with the
delegates it's made me more conscious
and sadly of different approaches that
we may need to work with going forward I
think that without going through this
experience it's really different
to be successful in higher levels of
Management it's been inspiring it's also
been very intense and very educational
it's an engaging transformational
experience
[Music]

---

### Executive Education - Trailblazing since 1966 | London Business School
URL: https://www.youtube.com/watch?v=16hanUPDvrc

Idioma: en

[Music]
trailblazers carry a code with honor and
responsibility and navigators with a
purpose setting new paths they lead the
way and empower others out in the
wilderness
trailblazing is the practice of
establishing new routes for you and for
those who follow imagine pioneer Daniel
Boone pushing westwards through America
in the 18th century in fellow
frontiersman his forest axes and knives
to create symbols known as blazes
marking a clear court for generations to
come Boone's Wilderness Road from North
Carolina became the main route through
the Appalachian into Kentucky Tennessee
for hundreds of thousands of settlers
leadership is at the core of
trailblazing at london business school
we've been showing the way forward to
executives around the world since
nineteen sixty-six the school has been a
pioneer in experiential learning we've
been away from the traditional classroom
environment lbs has taken executives out
of their comfort zone throwing them into
unusual a challenging situation London
Business School has pushed beyond
accepted best practice it was the first
in the world to introduce both 360
degree feedback as well as facilitators
group coaching the degree of clarity it
created marked of seismic behavioral
shift in professional development
we have had a tremendous influence on
our executives transforming their
leadership style to take on global
challenges faculty research also has an
impact on Parker's plan executive
education programs take the research and
make it accessible and practical for
businesses and individual professors
also learn from those that they teach
and then get to share this knowledge in
class discovery is possible if you're
prepared to take the road less traveled
since nineteen sixty-six we've empowered
individuals and organizations around the
globe to make their own crown and make a
profound impact on the world of business
executive education trailblazing since
nineteen sixty six
you

---

### Experience Executive Education at LBS
URL: https://www.youtube.com/watch?v=ZApERWuAlaE

Transcrição não disponível

---

### YNG+ London Business School programme – Tools for growing your business
URL: https://www.youtube.com/watch?v=JjUpYhmIBrs

Idioma: en

the yng lbs program attracts a lot of
entrepreneurial enterprising individuals
coming here enables you to network with
those individuals and exchange ideas
concepts of business of marketing and
human resources how to innovate how to
differentiate yourself and how you can
actually apply these to your day-to-day
life these are huge take home values we
have from the program so the faculties
have been amazing the insight that
they've been able to give us by using
different case studies definitely the
methodology that they're using and
teaching us is pretty unique and very
involving the way all the sessions were
very very practical so we can go back
and start to implement them immediately
it brings new ideas for those who don't
have this kind of background as a young
entrepreneur did a meeting of people
from different backgrounds I felt would
really help me grow my own business if
so I Angiers time to reflect and
understand if what they're doing is
really what they want to do in life last
year we had this case called the noble
case after studying and discussing in
class the actual person the case was on
came to the classroom and presented to
us actually seeing who the person who
was behind the page because you've
studied him for so long and you felt
like you knew him but then when you
actually got to interact with him
there's just enough whole different
experience that I never had before the
intensive program is beneficial because
it builds a camaraderie among the Lions
ears we're all there early in the
morning and here until 10:00 p.m. at
night I felt like we've got to know each
other very well and a short period of
time the highlight is being in central
London at LPS the diversity of the
cohort people from all different walks
of life with different experiences and
different expertise and to be able to
hear them all speak is invaluable it's
just a great way to learn people
management as well as just quick
on-the-fly decision making
we are able to learn a lot from the
business cases from storytelling and
from each other in a very safe
environment
I haven't had myself back from us in
questions of starting up conversations
this program gives the tools and the
frameworks to think clearly about being
an entrepreneur but more importantly I
think it gives them inspiration and
gives them a chance to see others who
have walked the entrepreneurial path and
see how they can do likewise
[Music]
you

---

### Executive Education Alumni Community | London Business School
URL: https://www.youtube.com/watch?v=NE9WaXzqqqQ

Idioma: en

coming together as a group cross
pollinate ideas and creating a network
for colleagues around the world and
executives around the world that we
could share best practices and share
thoughts on
it was wonderful to see everybody
everybody will hugging each other it was
live and having this special moment
coming back to our memories
you
it was very important for us to share
the outcome of the program what we have
achieved since we left and I must have
learned so much
it's absolutely important that we keep
in touch with the lamb lies around the
world I'm part of a group of Xcode team
in South Africa and looking at expanding
the program and getting a lamina is
together and make sure the network
continues and the brand is as strong as
it is and gets even stronger
first part of this ICP 70 reunion our
fifth anniversary reunion the decision
was made to come back to London today
come here to Hampton Court we had a nice
guided to avaya a costume guide in in in
Tudor of the people that are actually on
this reunion everybody's actually from a
different country nothing that's
extremely useful if you work in a
multinational business as I do I think
it takes a while to appreciate the value
of being an SCP alumni's seeing people
that you hung out with for weeks on end
to be able to talk with their families
just feeling better connected
being part of the LPS alguna our
community has been very important to me
there has been interesting events that
i've been to in the last year
going back to the school and listening
to something there an advanced research
topics and finest and the leadership
helps me to reflect on my current arose
and how we can applied to the
carthaginian world it's always extremely
interesting to see how people develop
and change it seems really that SCP has
a big influence on the career on the
development of a lot of us
learning in a classroom environment
that's what helps the program it helps
us as individuals we are on top of
current issues currently such that the
school is providing and we tapping into
that knowledge on a year-by-year basis
of course it's always a great pleasure
to meet my fellows like to be it to
interact with them and asking them for
advice food lbs network I can't find
some solution so that's why lbs is so
valuable for me it's about when you come
across a particular issue and a problem
and using the group to solve those
problems
it has become like a big family this has
just been absolutely brilliant and
wherever it will be over the next years
and years I will go whenever wherever I
will be there
you

---

### The challenge of making it happen l London Business School
URL: https://www.youtube.com/watch?v=bz-37FePEO8

Idioma: en

good afternoon and the very first thing
to say is what a pleasure it is to see a
lot of familiar faces for those of you
who' not met me before I'll just say a
little bit about my my own my own
background um and um I was reminded of
this because um I was recently at a
30-year reunion from my own MBA program
30 years um and what I did um after
finishing my MBA um in the US was to
follow a well trodden path into strategy
Consulting are there any strategy
Consultants current ones past and
reformed ones here in the room apart
from me and we've got we've got a number
of a number of um strategy Sinners or
Saints here in the room on the
Consulting side what a lot of
Consultants of course do after a while
is to roll up their sleeves and um move
across the Great Divide and um instead
of selling advice um become buyers of
advice I I moved into industry as group
strategy director for a large
multinational firm and I have to say it
was the perfect opportunity to get my
revenge on my former
colleagues from the Boston Consulting
Group as it happened who were desperate
to sell me very high-priced advice which
I was able to beat down ruthlessly and
then and then in more recent times and
then more recent times I've been here
with with all of you um as a strategy
Professor here here at London business
school now what when we come back to
what strategy should be about um at
least on a good day it should be all
around the question what next and what
we would love as strategists would be
able to realize those hopes for riding
the next wave of performance uh or even
making that wave um we'd also like to be
able to banish those fears and
fundamentally that's the central
question that we're looking to address
as strategy people back in the day um
what strategy people did was very much
focused on formulating strategy it was
very much around the the great strategic
idea the answer to the question what are
we going to do my colleagues who I've
kept in touch with at BCG at Boston
Consulting Group now say that what we
called in in the day 30 years ago the
strategy is now just the
proposal it's now just the proposal you
have to do the work they were saying in
order to get the work um because the
answer to the question um where will
Advantage come from from how will we
banish those fears and realize the hopes
is perhaps less now to do with the way
in which we formulate strategy and more
down to the way in which
we execute execute um which is the the
theme I hope we can explore but let's
personalize it because um given that
I've spent my entire career pretty much
30 years of it in the strategy field I
feel pretty strongly about strategy
questions um but what about all of us
for example one way or another how much
time do any of us in the room currently
spend on anything to do with strategy
how many of us would say we spend a lot
of our time formulating strategy show
show of
hands very interesting very interesting
for a strategy Professor who might have
been teaching lots of good courses on
strategy formulation that looked to me
like how many hands went
up and again it was a rather low
question what does a lot of time mean um
but I but I don't think we had more than
a dozen hands going up how many of us in
the room spend a lot of our time
executing strategy sh of hands now look
around um so that does that does rather
point doesn't it to what should be the
balance in the curriculum in other words
emphasis on the what yes 12 people put
their hands up but when we come back to
the how that's Universal around the room
um over the next 5 years looking ahead
how many of us would expect to spend
less time on anything to do with
strategy more time sh of
hands and do you expect strategy to um
get easier or harder as you look ahead
who'd
say why why who who'd like to who'd like
to kick us off why harder
complexity complexity if we Define it is
all about
interconnectedness more connections it's
become a much more connected World on
multiple Dimensions therefore much more
complex I do a lot of work with some of
the large Global Professional Service
firms but also in the London Business
School context with um a range of firms
large small who come through our doors
on our executive education programs and
pretty much universally
the answer to the question will what got
us here get us there is no because of
the way in which context has been
changing how many of us in the room uh
enjoy sailing do we have any Sailors oh
we got a lot of sailors excellent so um
what's happening in the
picture we've got the Spiner up and we
would only put the Spiner up if we had
um a good steady relatively gentle
Tailwind um and uh again without wanting
to to overdue the metaphor it may be
that these are the conditions in which a
number of us a number of our leaders a
number of our organizations um came of
age there's um an economist that um a
number of you will have come across mvin
king um who is um running the bank of
England well Deputy Governor um was part
running the bank of England who talked
about the great moderation uh and the
great moderation according to mvin was
the period which began in roughly 1989
and ran for nearly two decades in which
measures of volatility by just about
every count got greatly
compressed in other words um we were
finding that there was the same steady
wind behind all of our
boats and uh we could see out into the
distance in this picture because it's
rather a nice day uh of course then the
weather changed didn't it how many of
believe that um gentle Tailwinds are
about to
return that's called a rhetorical
question um mind you you have to be very
very careful with forecasts and I can't
resist here stealing um a line from a
very good friend and colleague of mine
who I'm sure many of you know Andrew
Scott
macroeconomist um who indeed worked very
closely with mvin King at the time the
notion of the great moderation was being
formulated and um some of you may have
um been been taught by Andrew the three
rules of forecasting rule number one if
you make a forecast never give a
number you can say it's going to go up
or it'll go down if you give a number
you never give a
date because one day you'll be proved
right whatever you said this is
sometimes called the stop clock theory
of forecasting and we've seen seen a lot
of use of that made recently by British
politicians and the third rule of
forecasting is if you give a number and
a date then never come
back now now in your
organizations I'm sure you'll talk about
a range of Mega Trends which are shaping
the future uh and of course the picture
in Emerging Markets which many of us
would have been blly optimistic about as
drivers of growth a few years back um
looks um looks rather Rocky at the
moment but it would be ridiculous to say
that there's no Headroom for growth left
in China India and um Brazil it's much
more a question of when we see the
return um but of course it's going to be
a very Rocky ride isn't it we're we're
not going to be looking at smooth
patterns of growth in Emerging Markets
there'll be many capacity
bottlenecks um it's going to be a stop
go process or um a go stop go back go
forward process in other
words we're looking at a pattern of
growth looking ahead but probably highly
disruptive growth we see social
transformation this is a McKenzie
forecast looking at a more than doubling
of um what they call the global middle
class and um we could continue to extend
the list but fundamentally all of those
um we could regard as being drivers of
growth but at the same time drivers of
growth and disruption there's some
interesting work that's been done at
Harvard on
volatility um look looking at the
dispersion of profitability between
firms in given sectors across cycles and
what stands out is what we might
intuitively expect which is to say that
in the era of the great
moderation the great moderation when
there was the Gentle Wind coming from
behind propelling all boats pretty much
evenly the variance of profitability
became very low in other words the gap
between winners and losers in given
sectors became much less than in periods
of higher volatility higher volatility
much more dispersion of
profitability much bigger gap between
the winners and the losers all around
the opportunities and threats and who's
going to seize them or avoid them first
and fastest so the Holy Grail of
strategy was
always sustainable competitive advantage
and
um what's the issue here not that
competitive advantages are relevant but
that much of what we used to rely on uh
if we come back to some of the classic
language of strategy we talk about the
the ability to succeed because we create
value we capture value at the same time
and this is suggesting that the rules
for Value capture and value creation are
going to be changing much faster so a
given competitive Advantage will not be
to the same extent a rock on which we
can build our whole corporate edifice a
lot of the work I'm doing with
professional service firms is exactly
around this which is um welcome to a
different world welcome to a different
world we may as magic circle firms in
law have felt that we had a rock solid
Advantage customer lockin um but in fact
even the nature of what the legal sector
is is starting to converge convergence
volatility um which those of you who put
your hands up have been dealing with um
for many a year um also now come right
to the four um for all of us sustainable
competitive Advantage I think we now
have to talk about transient competitive
Advantage so the issue then uh is how we
renew so back to the sailing conditions
where's the wind coming from now over
the last three plus years we've been
running a research initiative which is
also a learning initiative uh on
where Advantage might lie in terms of
how we how we execute so we run a one
week executive open program we typically
take about 30 senior middle managers a
time and as well as running a course we
we also collect data what we do is to
ask each participant ahead of time ahead
of time to carry out a 360 degree survey
uh on effectively on execution in their
own organization around some themes um
which I'll share with you very shortly
um so effectively this is allowing us to
identify execution bottlenecks to see
what patterns can be seen across
different sectors looking at what might
make it really difficult in this more
turbulent world to get our crew to move
fast across the deck of that boat and
pick up the sounds of the waves breaking
on the rocks in the distance from the
old days there are some myths or let's
say biases if we were going to be kinder
in strategy execution which we believe
need to be countered the first myth that
um we are looking to T
is the idea that execution is really
about vertical alignment so here's the
golden thread where we Define the
strategy the vision if you like it gets
embedded in the plan um we would then
Define kpis individual and team
objectives um and then we'd um provide
some feedback on performance does anyone
lived in an execution model of this
kind no um let's let's be clear um that
a place for vertical alignment um what
we're talking about here is is undue
emphasis in one organization I work with
they talk about cascading the strategy
have you ever heard that term cascading
the strategy I I find it's very
interesting to um examine these
metaphors that we use uh in business
life what in real life is a
Cascade it's a waterfall what direction
does the water go in and if you're
standing underneath the waterfall you
get very wet and rather annoyed um so so
immediately there's questions about
reversal of the flow but there is a such
a strong bias in so many organizations
towards this and what we believe is that
it comes from an underlying view of
hierarchy because if we think of a firm
as a
hierarchy then very naturally we'll
think of execution as vertical alignment
because we'll have been relying
essentially on organization design um to
do the job for us now um we've already
identified one concern one concern which
is this is all one way but what else
might be an immediate concern that leaps
out at us as we look at this what's
missing yeah so here we're asking
questions about horizontal coordination
how how are we making those links across
not just the links down the vertical
chain which starts to be
crucial doesn't if we're looking to
create Solutions which typically involve
connecting different product and service
Arenas it starts to be crucial for
Innovation which typically is about
boundary Crossing uh and indeed uh if
we're if we're missing horizontal
coordination um at that level then we
may find that our ability for example to
work with others becomes severely
limited but using a different lens we
asked ourselves what would it be like if
we s saw the organization as being
predicated not so much on power but on
commitments promises and um those uh
what you've got here on the screen is
simply
um a download from Facebook you can plot
your map of relationships as Facebook
would see them pretty easily any
relationship that has any meaning
carries with it some degree of
commitment um which is um about promises
and it's about promises that bring about
trust and it could well
that the crucial carriers of performance
commitments in our organization have
very little to do with the formal
hierarchy and of course those
commitments would go beyond firm
boundaries and we'd already touched on
this how many of us in the room know
armm based in Cambridge I find this a
fascinating organization it's one of the
UK's rather rare um technology success
stories if you have um an
iPhone or a Samsung Galaxy or any
handheld device device inside it you
will have arm technology um effectively
armm technology arm technology uh is all
about the chipset that governs power
consumption and enables low power
consumption so you don't have to have
one of those huge batteries that you see
in movies about mobile phones from the
1980s and your phone doesn't burst into
flames as it might with high power
consumption so armm indeed do create
these designs but it goes much further
than that because armm around those
designs create and manage an ecosystem
and it's an ecosystem which in many
cases involves no transactions no money
is changing hands however the effective
coordination and cooperation of those
ecosystem members is absolutely critical
for arm success um but none of them
actually work for
armm in other words we've moved Beyond
if you like the hierarchical model to
one which is about um influence so the
oems might for example be apple and so
then the question would be just how good
a job are we doing at the horizontal
dimension of alignment not just within
our organization but beyond its walls
because I'd argue that many of us if
we're going to succeed in this world of
transient competitive Advantage will
indeed need to be highly effective in
working swiftly with others outside our
own boundaries so um we'd mention that
everyone coming on that program
executing strategy for results completes
a 360 degree survey and one of the
questions is who can I rely on who
delivers the goods I can rely on X to do
what he or she says they will all of the
time or most of the time and it turns
out that people can rely on their boss
um about 85% of the time um direct
reports about
83% probably because they wouldn't stay
direct reports for very long if the
score was rather lower than this but
then when we come to colleagues and
we're talking here about colleagues in
other units and partners partners
meaning partner
organizations oops then we're then we're
talking we're talking about um a much
lower degree of reliability now I just
stress this is aggregate data uh and it
starts to get even more interesting when
you when you break it down when you
break it down by sector and by geography
but it's coming out of roughly
now 8,000 respondents from about um 300
300 companies and if we do need
horizontal alignment this starts to um
raise some very important questions in
terms of what we're doing at or we're
not doing now um from our own personal
experience what happens when we can't
rely on our colleagues DIY does that
ring bells around the room um now what
else might we
do you're not getting any cooperation
from him and it's a crucial project and
you know you're going to be judged on
the success of that
project he doesn't work for you what
will you do talk to his boss talk to his
boss ah right so um this we call
escalation escalation um which um in
some organizations seems to become a
primary strategy execution tool for that
reason so as we escalate um to his boss
then you're going to escalate to her
boss presumably and then they'll
escalate to their bosses and um then
life in the boardroom is going to start
to get really depressing um because um
what we'll be doing up there in the
boardroom on the executive committee is
dealing with these endless endless uh
escalations on a bad day what we might
do in order to deal with this is to say
I've had enough of the escalations so
now we're going to have a proper plan to
deal with it which makes it absolutely
clear what everyone's job is and what
they're expected to
contribute the problem I believe the the
correct term quote from count Von muler
who reformed the Prussian Army um is no
plan and survives first Contact um with
with the Enemy um so again we won't be
able to address this by relying on the
plan will we so then the question might
go further which is what is
fundamentally our execution Challenge
and this we believe is one of the major
sources of confusion um which is to say
in some cases the important challenge is
coordinating across units but not always
for example um if we're trying to do a
turnaround disaggregation may be very
important um it's no coincidence that PE
houses private Equity houses that
essentially look to do turnarounds um
look to keep units very separate not
least because eventually we want to sell
them and we don't want to have created a
tangled web which will make it
extraordinarily difficult to unplug uh
an invested business the question there
is as we coordinate more effectively
across units do we also then become
somewhat less flexible in terms of being
able to adapt to shifting circumstances
so one of the key questions is which of
these is going to be most important
because all of of them are in fact
intention um it's not going to be
possible realistically at a given point
in time to be a superstar on all three
of those Dimensions it could be that the
balance shifts over time Nokia not the
old Nokia but the new Nokia um the old
uh noia Sean networks as it were and um
the leadership challenge there was to
call the change which is to say the the
the execution priority has been during
the darkest days of Nokia's
underperformance
has been indeed all about vertical
alignment but now now we've done the
Alcatel deal um what we're looking to do
is to shift gear because um coordination
across what we've created with Alcatel
Lucent the solutions might be that we
might be providing um has become the
crucial piece so for any of us in the
room um it might be worth keeping in
mind that
question what is the execution challenge
primarily now in our
organizations and how might we we how
might we see that shifting as we look
ahead here are a few more
myths the third one might strike you as
odd because a lot of organizations put
huge efforts into communicating strategy
one senior middle manager of a company
will be nameless said actually he needs
to understand the strategy said I need
to understand the strategy but it's my
job not just to pass on the PowerPoint
it's my job to translate the strategy
into a set of executable
priorities because the issue is not have
I seen the bubble charts and the 2 by2
matrices um nor is it uh about um some
level of understanding about how we're
here to make the world a better place
important as that is from the standpoint
of emotional buyin but my question if
you want me to execute your strategies
just what is it that you want me to do
um and why does it matter and who else
does it matter to so in other words if
we're coming back to the question of
coordination the horizontal coordination
um again back to what you want me to do
who do you really want me to do it with
so this would then come back to the
theme of
priorities let's say priorities rather
than the strategy and the organizations
we were working with pretty much all
have Employee Engagement surveys often
the employee engagement surveys have um
something like what we see in the top
box here do you agree with the statement
I am clear on the firm's top priorities
and then what we find from the sample is
that 84% of managers agree with that
statement we asked the same managers to
list the company's five top priorities
actually it was the priorities for their
own unit um less than half of two of
half of direct reports could list two of
the five this by the way might be a very
interesting exercise for any of us to
carry out because um even before we get
to the how do you want me to do it and
with whom um just what might those
priorities be um without wanting to to
be awfully depressing um we we kind of
um made it a little bit easier rather
than the top five how many of you can
get the top three and um again in this
sample of um uh now 8,000 people or
thereabouts coming from some illustrious
companies which might even be
represented in this room
who knows um we were finding that if you
just made it one priority um you'd get a
somewhat higher hit rate and uh you saw
on the slide a little earlier that
rather forbidding German character um
count Von muler who reformed the
Prussian Army um after a disastrous
defeat at the hands of the French who
are the who are the French people here
in the
room excellent so so this was the Battle
of yena the battle of yena and you have
the yenna by the Eiffel Tower I believe
and this is where Napoleon defeated the
best Army in Europe the prussians
because they were the the best trained
they could March in time better than any
other army they could shoot more
accurately they were the best but they
were smashed and in the in the uh
examination of the ashes that followed
um an Insight um which was a very
important Insight not just for military
history Buffs but in this context around
the quality of commitment was that um
the Prussian Army had been trained very
much on the basis of what mka called
beels tactique beel translates from the
German as an order be's tactique so the
notion was that you'd be given an order
and you'd pass it down the line um the
problem then arises in the fog of War
when the chain of command is
broken as a sensible Soldier what do you
do when no more orders are coming wait
wait you stop you wait you wait so the
question was could we move in terms of
the nature of the commitment that was
being asked from be's tactique to arr's
tactique um which when the arrag would
be much more defined as um there's still
an element of command in it but it's the
level of purpose it's providing the
reason why so if we understand the
reason why and if we have been trained
to understand the reason why then when
the chain of command is broken what
might we be able to
do think think and adapt also we learn
the skill of not cluttering our
subordinates with too many commands um
in other words um we're able to ensure a
much better signal to noise ratio and
those reforms around arrag tactique um
were fundamental in um re-energizing
that particular organization with
somewhat mixed blessings um some decades
later of course but it would come back
again for us to the question when we're
talking of priorities do we have an
understanding of the what um are we
providing some tools for the how and um
have we also um addressed the why um
because let's be clear in turbulent
environments we're not going to get it
right all the time are we but what we do
want is to have large numbers of
people assuming that our organization
has large numbers of people or our
ecosystem contains large number of
people making more or less the right
decisions most of the time um and given
the challenges of turbulence if we can
pull that one off then we will have
built a very powerful and much more
sustainable source of competitive
Advantage now here's a fourth myth uh
sometimes execution I've found gets
confused with operational excellence
operational excellence is doing the
thing right but as well as doing the
thing right there's the question
of doing the right thing doing the right
thing um which brings us into the theme
of resource
allocation and um this chart may be a
bit of a site test for those of you at
the back um but it's a summary of what
to me at least is some very interesting
work um done by Steven Hall at McKenzie
um looking at the
implications of
dynamically allocating resources from
year to year or simply sitting on your
hand as a resource allocator so the
comparison um is to do with the degree
to which your allocation of capex
capital expenditure is essentially the
same as what you've got last year if
that's the case the correlation index um
will be up at one the lower it is on
that chart the more we find that you
won't necessarily have the resources
that you had allocated last year this is
about Capital spending but it could be
about it and it could be about Talent
and um from this survey um which is
called how to put your money where your
strategy is um the evidence is
that if you are not a dynamic resource
allocator then your performance measured
here is TSR total shareholder returns um
is likely to suffer so not surprising uh
as new opportunities and new threats
emerge the question again um is you know
are we biting the bullet um in terms of
having the tough conversations about
resource reallocation
because again this is a line taken from
Steven in many companies Investments
like War which is to say it's easy to
start
one and um in their survey in the
McKenzie survey um typically middle
managers said not much of a problem
getting hold of resources particularly
if we built up a bank of credibility
over T over time um but what is the
problem with it may be easy to start one
but very difficult to get out of one um
so here was The crucial question um
around exiting too slowly or struggling
to exit and it's not just about the
waste of resources but it's also about
the emotional wear and tear so you've
got some initiative which should have
been um painlessly put to sleep years
ago but it's someone's baby and you're
the person who's now got to say I'm
sorry it's an ugly baby um which um
again again starts to come down to the
kind of discipline that we're going to
need that we're going to need as that as
that um portfolio of opportunities New
Opportunities and new dangers um starts
to shift now performance culture uh how
many of us how many of us in the room
would um like to have a performance
culture in their organizations so we
reward performance show of
hands we like
that because we want people score those
goals don't we if the challenge is
fundamentally vertical alignment
vertical alignment then what we
typically call the performance culture
where we're rewarding individual
performance down the hierarchy could
make perfect sense but what we found
again in our survey in our execution
survey was some disturbing results so
for example considering
adaptation um of the eight roughly 8,000
managers in the survey more than half
were saying that experiment ation and
failure had hurt their career at least
to some degree that ring bells
yes then when it comes down to
coordination 15% was saying that issues
got addressed promptly U if it hit their
numbers um but
otherwise if you want to follow the
gypsy's warning get your own job done
first before you start collaborating
with others and um then 2/3 um
regardless by the way of whether or not
this was identified as the challenge or
that but two-thirds of the people in the
sample were saying that individual
performance was the top driver of
promotion decisions so again we would
want to come back to the classic
question um what are we really seeking
to achieve then what are we really
seeking to measure then what are we
really seeking to reward Here's the
final
one the problem you don't you don't you
don't what we're are after here is
identifying what we've been calling the
distributed leaders in the organizations
of those who were coming on this program
and taking the survey and um I like I
like the last one um Steve Jobs's test
which is if you are leaving for a new
company and could take a hundred people
from your current company who would they
be the importance of this is that the
distributive leaders back to that web
that network of commitments are those
who are commanding the key nodes um
they're often the cross- pollinators if
we're talking about the translation of
the strategy into executable priorities
they will very often be those who are
doing that they will be the people who
in fact are effectively collaborating
with other distributed leaders across
your organization if we've got the the
what and the why and the have the
priorities clear so again where we might
find Once More in a highly turbulent
environment um execution Falling Down is
where we've simply
looked at the organogram from the top
rather than identifying who are the
holders not necessarily of
organizational power from a structural
sense um but who are the holders of of
influence so so just in summary um if
we're if we're looking at the relatively
new world which is not a new world for
many of you in the tech sector where
volatility and uncertainty and
complexity ambiguity the vuka world has
been around for a while but more and
more of us I believe if we're not doing
so already um we'll have to ask
ourselves just to what extent are we
building an execution Advantage by
moving from what may have served us
perfectly well when we had the wind
behind us and the sper on our boat up um
to what's now going to serve us I hope
um in in in a world that's Much More
Much More turbulent if it is a world
that we've got to discover progressively
rather than thinking about the linear
approach approach to strategy um my
colleague don don suul um talks about
replacing lines with loops and the the
notion of the strategy Loop is that the
first part of it is about making sense
making sense of um an an ambiguous
situation then from making
sense the question is making choices
what are we going to do um not do what
are we going to stop doing from choice
we come to commit M um which is all
about the tough discipline that means
that the choice we've actually made
really has some teeth what do we have to
do with the top left close the loop so
this is where we're making revisions and
the key here the key here to my mind uh
and this is back to the the leadership
challenge is that these are very
different
conversations they're very different
conversations let's remember unless
we're at the sharpest Edge in our
organizations where we're physically
coding software or using screwdrivers
and hammers the only tools we have are
words when we're making choices um this
is where we want to have a debate a
debate with people taking up a position
and arguing for it and defending it when
we want to make it happen the debate is
over and this is about what's the nature
of your commitment um is there a good
promise Happening Here conversely is
there a good ask uh the tone when we're
making revisions the wheels have come
the wagon didn't work out as expected
what's the worst thing we can do at that
point the blame game the blame game way
back um the Boston Consulting Group
where I worked had a tool that they
called The Experience curve and the
notion was that as you gained experience
you'd improve on cost uh or on
technological Discovery you'd move down
the experience curve but if you indulged
in the blame game what would be the
slope of the experience
curve it'll be absolutely flat because
there been no learning and therefore no
competitive Advantage the final point is
really this when we come back to success
um is it about the hand we had dealt or
is it about the way we play the hand and
um the session's been um
really pushing very hard for the way we
play the hand um to be the source of
competitive Advantage rather than Market
position the resource based view that
you took in in your core strategy course
at lbs so I hope I hope this has been
useful and interesting and um I have to
say it's been a real pleasure to
reconnect wonderful to have you back
[Applause]

---

### [Private video]
URL: https://www.youtube.com/watch?v=yc828a6j1NM

Transcrição não disponível

---

### Making Innovation Happen: Programme Experience | London Business School
URL: https://www.youtube.com/watch?v=nBMWiUtDEI4

Idioma: en

I'm the innovation manager for my
company my role is to look at innovation
best practice across the globe
I studied innovation in Australia I've
done it innovation missions to the US
and now I want to really see what was
happening in Europe
my role is very much about helping my
customers to actually think about and
drive innovation in their organization
what was interesting about this course
is the mix of academic with some real
examples and the opportunity to meet
people that are also grappling with
these issues my real highlight is the
guest speakers have really allowed me to
challenge my thinking it challenged the
theory but it's also allowed us to
challenge them I've just been incredibly
impressed for Julian it has a great
wealth of industry knowledge that
substantiates the academia with
real-life corporate examples of how
companies have either innovated are not
innovated and the consequences the visit
with the Design Council for me has been
an absolute highlight it very much
aligns with some of at the aspects of
the work that I do and being exposed to
such a different way of thinking
different ways of working actually helps
to reframe a problem and make you look
at it from a different perspective the
Science Center had some great examples
real-life tangible hands-on activities
to help demonstrate and cement that
foundational knowledge the study groups
may have been exceptional because the
other people in the study group aren't
from my industry they don't accept my
assumptions they don't have why am
finding biases it really challenges me
in my thinking being exposed to the
world of innovation and what it means
from an entrenched organizational
traditional organization to what we
think of is a very modern organization
we had a great experience to go off-site
as a team and have dinner at the Savoy
at central London it was wonderful to be
able to outside of being here on the LVS
campus to get together and to socialize
the making innovation happen course with
LBS you've got your your academic rigor
you've got exposure to real problems
that have been solved and the ability to
build your network this has really
opened my knowledge aperture as to what
really we can do as a company to be more
successful more customer centric and
focused and how we can motivate our
employees anybody who's a manager senior
manager dealing with innovation
understands these strategic nuances to
it this is a highly recommended course
of them

---

### Accelerated Development Programme: Programme Overview
URL: https://www.youtube.com/watch?v=_3ggw5THzgA

Idioma: en

the accelerated development program is a
fantastic transformational programme
targeting leaders who are making that
transition from a subject matter expert
into a true leadership role so for
example
you might be a head of i.t or head of
finance and you're looking to make that
next step up to perhaps head of emea or
head of a region or head of a country
you might also be an entrepreneur or you
might be on a succession plan within
your organization or on a talent
development program working with your
fellow participants with an executive
coach with faculty and with me we will
take you on a learning journey that will
really take you to that next level the
format of the program is you spend two
weeks here in london for the london
experience you'll then go home for five
or six weeks and then back into the
workplace to try and practice some of
what you've learned
you'll then come back for another two
weeks and then there are some follow-on
activities when you go home again
participants come from all over the
world whether that's from africa or the
middle east or from south america or
from europe and bringing that
international diversity to the group
where people can share their experiences
really helps enhance the learning
experience the programme focuses on a
number of key themes including
leading people where we focus very much
on developing your leadership strengths
but also we touch on strategy making
strategic decisions
as well as
how we can create customer value
together with corporate finance and
accounting so we cover all of the skills
and knowledge that you would need to be
a true leader our faculty not only spend
a lot of time doing research and
teaching but many of them are
consultants they have real-world real
business experience and they're able to
bring this into the classroom and into
topics for debate
on the accelerated development programme
we use a blended approach and what that
means is not only do we spend time in
the classroom in our lovely lecture
theatres where we also have group
discussions and group work and case
studies but also we use london as the
backdrop for the learning experience
so we take you out into the city to do
market research we also take you outside
of london to the west of london to an
outdoor day centre
where you will do some extraordinary
activities to really help learn about
your leadership strengths
and part and parcel of that will be
where we use a 360 degree feedback
activity
where you really get some good solid
honest feedback from your peers at work
which you can then bring back into the
classroom and debrief
one of the key threads that we have
running through the programme is
well-being where we look at some of the
things that can derail senior executives
at your level for example ensuring that
you have great nutrition getting a good
night's sleep and also managing stress
levels
from a professional perspective you can
expect to go away with an unparalleled
business network you will automatically
be granted access to the executive
education alumni community the alumni
network is both supportive and diverse
and very much a community that you can
draw upon at any point in your career
you can also expect to really go away
with improved confidence to step into
that new leadership role to be able to
develop and implement strategies to be
able to make those strategic decisions
that can be so difficult
the vision of the london business school
is to have a profound impact on the way
the world does business
when you come to the accelerated
development program it will have a
profound impact on you on your team and
the way that you do business
you

---

### Proteus Participant Experience l London Business School
URL: https://www.youtube.com/watch?v=6OlVaJ7FcUs

Idioma: en

I've been on many many various trainings
and leadership courses and I'm a very
curious person so I was considering
what's next what what should I try out i
just stumbled upon Proteus and I
immediately fell in love I'm in a in a
transition point I just became PwC's
global chief operating officer so I
entered this program knowing I had a lot
to think about how I wanted to enter a
new role but I'm also at a time of my
life where I'm looking to broaden my
influence and impact on not just the
organization I work for but also my
community my relationships the program
is sort of a non-standard sort of
leadership program where you go through
much more through discovery instead of
being fed an effective design we met
very very intelligent heartwarming
personalities who are really here to
kind of pull out their soul and their
knowledge Nigel and Patricia as our
leaders they guided us to think about
things through certain lenses but they
brought us to places like the national
portrait gallery cambridge university to
incubators to the zoo and we saw
primates and they helped us understand
what we can learn from animals from
people coming from very different walks
of life and made us think about life
very differently one of the things that
was really interesting is how to build
future teams the real effect that
smaller teams have in creativity and
progression and in sort of a positive
attitude I consider myself a
well-traveled and kind of multicultural
person and my curiosity for all these
other nationalities was really
absolutely fulfilled many of us work in
work environments where we're struggling
to join the purpose of our organizations
and our own purpose and I think a lot of
the entrepreneurialism that we saw
helped us understand how we can do that
do well and do good at the same time
it's good to see that every organization
no matter what background I matter what
country is faced with the same
challenges and I think what are the
great things in the in these courses is
that together or smaller groups you
learn really to overcome these
challenges or take them all the benefits
of the program for each of us is pretty
far-reaching I'm looking forward to
sitting back and thinking about it and
letting it sort of percolate in my head
and see how I can bring it to life to
sum up my experience I'd say
exhilarating intentional and stimulating
very challenging a very inspiring
encouraging motivating and
thought-provoking

---

### Global Business Consortium 20th Anniversary | London Business School
URL: https://www.youtube.com/watch?v=yUlhKriMIM0

Idioma: en

GBC was actually created back in 1994-95
and it was a very simple that a very
very unique concept how do you take six
executives from six companies operating
in totally different industries and
learn as much as you can about different
business models now if I look back to 94
95 obviously it was a completely
different world but it will be no
surprise that the challenges and the
problems that a number of companies face
now and not entirely dissimilar the GBC
is the most senior level program we
offer at london business school we also
structure the program through a set of
chief executive challenges these are
challenges that the chief executives
give to participants those challenges
are the kind of challenges which become
more solvable because of what
participants are learning from each
other the sparks that they're able to
strike off each other in the course of
the program we've actually been
consortium members for 11 years now
typically we've used the CEO challenge
to help to inform some of the strategic
thinking at Mars some of the bigger
deeper questions about how we move
forward as an organization the
inspiration I've taken from other GBC
members really centers around the fact
that there are such different cultures
in different companies but they're all
very successful in their own right so
Oracle is very different to Mars they
have a different need in their
workplaces and we do in ours but it
works for them the benefits for alkyl of
GBC is the opportunity for selective
vice president's top talent within the
Emir organization to really learn new
things from some different organizations
so having that ability to have some new
friends and colleagues with trusted
relationships that developed during this
experience is something that's truly
truly valuable to us and to other
participants one of the most amazing
things I learned was that other global
companies have at the end even if there
are very different industries very
similar problems such as how to develop
talent
how to manage the matrix how to manage
centralization versus decentralization
and actually I thinking the learning
experience of the participants is still
the same as it was when I was a young
talent many many years ago with GBC what
we find is that the timber very close
they work very close with us we have
board meetings four times a year and
basically we look at what the issue is
where we talk about each of the programs
we're changing it and surviving all the
time to become better and stronger we
had to go through restructuring
reorganizing and we benchmark strongly
against some of the other companies and
they given us both inspiration and also
ideas and concrete ways of setting up
and doing things unless we share
different challenges different culture
that we operate and it will be very
difficult for any company to grow and
prosper in this world economy it doesn't
have to be one size fits all and you see
that come through in the colleagues that
we meet from those other companies you
know that when you're working with the
CEO challenge you've got the opportunity
to have a great impact on your
organization it then helps people really
to move in to be ready sooner for
mission-critical senior roles now on the
Mars leadership team i'm joined by
colleagues who are actually GBC
delegates from a number of years ago
what does 20 years of the GBC me in one
word it means change it's the longest
running consortium that any school in
the world has ever wrong
you

---

### Leading Teams for Emerging Leaders: Participant Experience l LBS
URL: https://www.youtube.com/watch?v=zhVBLDUqGm8

Idioma: en

I chose leading team for emerging
Leaders program because it matches with
my career goals this program wasn't the
only one I saw which targeted young
leaders who just assumed leadership
positions who are now facing challenges
in terms of of shifting from operations
to really looking at a team instead the
faculty have been incredible I can say
by far two of the best teachers that
I've seen in terms of content and
communication approachability the
teachers have been absolutely fantastic
better than I even imagined I could not
stop writing notes I have filled my
whole journal the one-on-one session was
also extremely helpful you're forced to
address issues that you usually would
avoid seeing my own weaknesses has made
me see the weaknesses that I bring out
in my team and what I really enjoyed
about the classes here was there was a
there was a lot of theory but it was
never theory on itself it was always
theory with case studies and also
examples and then we practice a little
bit with our team members and also with
the coaches the highlights I would say
obviously one was the silver stone
experience working with a team improving
our mistakes and changing our processes
was fantastic coming into this course
I'd no idea what the peers would be but
it's been a very pleasant surprise
they're from very different backgrounds
very different personality types it's
also nice to see other people in exactly
the same position as me we all have such
similar issues in our work we're all
from different countries different
industries but yet we all come together
and there is so much in common though a
few things I really took away from the
classes one of them was really about
being self-aware that's always important
to understand myself ourselves before
being able to manage people effectively
and so now I've learnt a bit more of
myself and my strengths and weaknesses
for somebody like me who's a boss of 20
to 25 people I don't really have time or
opportunity to do a one-year course I
can't even afford to take that much time
off work so this is perfect for me one
week sounds just like a short time but
it goes a very long way everything again
falls into place your mind becomes more
structured and you gain that power on
how to use it more effectively and fish
in your everyday life and in the world
my experience in three words lbs has
been revolutionising motivating and
transforming reflective inspiring and
relevant

---

### Strategic Branding: Participant Experience | London Business School
URL: https://www.youtube.com/watch?v=ooXV37u408A

Idioma: en

my role heading up media solutions is
really to focus with clients on and our
team on the go to market strategy for
branding it was a week actually it was a
very intensive week with London business
go very enjoyable my key takeaways is
firstly how practical it is
I personally don't necessarily like to
do just theory normally won't sit very
very clearly with me so every single
piece of theory we did was followed by a
very practical application of that
either through a specific case study or
through a specific problem that we were
asked to solve so that for me was was
incredibly valuable and a huge takeaway
other takeaways to be very specific were
the frameworks around putting the
structure around creative thinking one
of the frameworks that we used as part
of of the week was called the oak it's a
Saatchi and Saatchi framework which was
delivered incredibly well when we did
the framework when Richard was teaching
that I could instantly see the
application of that like straightaway
and as he finished up that session I
spoke with them straight afterwards to
say I have a Northern Europe meeting
that will be happening in January I'm
going to implement your week to help us
solve problems with that straightaway so
I was sitting in the classroom and I
already knew how I was going to
implement the the framework that we just
learned
we had our 2016 kickoff for the year so
I had about 20 of the team in a room and
where we focused on our key projects for
2016 and we use the oil framework to
work through those projects three key
projects we used the Oich
to really crystallize exactly what it is
we wanted to achieve what were our
objectives what was our issues what were
our insights and of course what was the
challenge that we wanted to put to
ourselves to ensure that we worked
better with that cross-functional team
and on the back of that we we received a
commitment from our cross-functional
partner to deliver what goes into many
many millions of dollars of revenue for
2016
equating to about 20% of our total bow
for the year which is pretty massive
we've seen multiple benefits from using
this particular framework of week I got
a message from one of my consultants to
say by the way I was having problems
with this project I've used your
framework and now I've got a meeting
with exactly the people that I need to
meet to get this move to the next level
so from a personal perspective that
makes them very satisfied that it's not
just me doing it with the team it's
actually the fact that the team now are
taking that framework and they're using
it to solve their business problems as
well well it was definitely a really
diverse class which was I think
fantastic lots of people from all over
the world so it was really good to get
to see how different businesses are
working so for me the benefit of the
peer network was actually having a view
into what other people are doing and
what other challenges they face for me I
would definitely recommend it without
question what I would say is make sure
your diary is free for the week and that
everybody's aware that you're going to
be out of the office because it's an
intense week you're up early in the
morning your finishing late in the
evening it's very energizing even though
it's very intense it's very energizing
and I would say go with a very open mind
go with the willingness to learn and and
and bring it back like there is so much
you can bring back there is an awful lot
taught there I was able to bring back
just some of it and I can already see
the back of the value of that within my
team
you

---

### [Private video]
URL: https://www.youtube.com/watch?v=QF8EbYeP2Hk

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### [Private video]
URL: https://www.youtube.com/watch?v=YXd7n76ZoWc

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### [Private video]
URL: https://www.youtube.com/watch?v=PpKxKYvOZrA

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### Negotiating and Influencing Skills for Senior Managers: Programme Overview | LBS
URL: https://www.youtube.com/watch?v=emi6sq0Y9Oc

Idioma: en

I think that negotiation is something
that everybody needs to know it's in
every facet of our lives whether it's
professional or private but in today's
climate in particular we're all trying
to get that little extra edge we're all
trying to do a little bit better whether
it is with suppliers whether it is with
our own employees whether it's with our
supervisors and I think this program
allows you to set of skills and
individualize set of skills to to try
and achieve that goal the core themes of
the program are about trying to create
value about trying to appropriate some
of the value for yourself it's about
trying to influence other people to get
them to see your point of view it's
about trying to resolve conflict and
about trying to construct negotiating
themes when you have a team negotiating
with another team the program is built
on on three pillars it's built on what
we consider to be cutting edge research
and the second pillar of the program is
practice you become a better negotiator
by practicing and the third pillar is
about trying to understand yourself as a
negotiator what we really want to do is
to give you hands-on experience in
negotiating in different types of
situations in different types of
contexts so what we do there is that we
give you a role we give somebody else a
role we say please go prepare for these
and then we have you guys negotiate
together by throwing you into the deep
end of the pool hopefully you walk out
being very comfortable and confident in
negotiating in different types of
contexts what this program does which is
very different from every other program
out there is that we give you feedback
in real time we have a trained group of
facilitators who watch video tapes of
you negotiating and give you feedback
about your strengths about your
weaknesses about how you come across in
a negotiation and that's pretty much
unique you know there's no other program
like this in the market
we use lots of different teaching
methods on the program we'll have some
theory we try to keep that simple we try
to keep that succinct the rest of the
time is really immersed in these role
plays which really allow you to simulate
different types of negotiating contexts
and negotiating experiences the program
itself builds from simple dyadic
negotiations where you are negotiating
with another person one-on-one either in
a purely distributive situation which is
you know where one part is gained is
another part is lost or in a situation
where you both are problem-solving
trying to create value at the
negotiating table it moves on to more
complex negotiations where you are
trying to resolve conflict where people
have made claims and counterclaims and
where negative emotions are involved and
then it moves on to multi-party
negotiations where you have more than
one party sitting at the table and
finally it moves on to a group on group
negotiation problem is aimed at seniors
managers generally we try and recruit
senior managers from all sorts of
different industries all sorts of
different functions we have a wonderful
mix of participants
people from different geographies with
their own distinct cultures people from
different industries or people of
different ages what this does do for you
is create a very vibrant class
atmosphere but it also gives you an
opportunity to try out your skills your
negotiations with people from different
backgrounds to yourself and add to your
repertoire of negotiation
schools what is it that you take away
from the program a systematic framework
for negotiating greater confidence in
the negotiating process a better
understanding of yourself as a
negotiator what is it that works for you
what are those things that do not work
for you how do you build on your
strengths and how do you how is it that
you can somehow camouflage your
weaknesses
you

---

### Proteus Programme Overview | London Business School
URL: https://www.youtube.com/watch?v=2itpZu-T5Ko

Idioma: en

the British program named after the
Greek god of change the one who could
change himself a will is hardly a
program at all in the conventional sense
it's a journey it's a set of experiences
it's very much a legacy program for us
very senior people who have a real
burning desire to ask questions and to
expand their knowledge in their
experience
I think the reality is that most of us
know more and more about less and less
okay so there's too much to know the
world has become too too complex and
therefore we get stuck in out in our
little zone produce the program that is
dedicated to helping you break through
those barriers through the Paris of the
world because all the most important
things that happen to be will happen
when you cross a boundary when you go
from the world of what that one known
world to another unknown world and then
you ever could synthesize the program
it's about states of the world and about
transformation were the forces for
transformation our number one
development theme too is about science
theme three is about creativity in the
chrome of the creative mind and theme
for is leadership of course and that's
what we're gonna need in a transforming
world is people who are able to harness
all those forces through leadership we
learn very little time in the classroom
you know we'll take you to the zoo to
talk about our place in the animal
kingdom will take you around this
wonderful city of London so you can
explore global development and growth
will take you to Cambridge where you can
see how science is turned into
consumables or into things that can help
to transfer
the world and we take it to schools to
be juggling the teenagers and talk about
what leadership means to them and what
it means to you and running throughout
the program is a biography strand the
strand that says this is who you are
this is what your legacy is perhaps most
of all you have this opportunity to get
that kind of synthesis you dialogue with
people you can talk to I'm gonna meet a
wonderful array of experts and people
who've done things that you can only
dream of perhaps and you're gonna have a
wonderful participants with you on the
program who are going to be your your
fellow travelers on this on this journey
and of course me and Patricia Hodgins is
my co-director of the program we're
there the whole time we ask you to come
with a purpose you bring the purpose we
will then feed that we will then enrich
you with whatever we have to give you
and then you could go and formulate your
own your own possibilities out of that
path we finish up with the biography
workshop where you're able to think
about your life plan your life your life
journey so far what you've learned and
where do you want to go in the future
and what has Proteus helped you pain
towards that you might want to change
modify or just do boy it's a very
demanding program you see it totally
exhausting absolutely wonderful and by
the end of the week we have a nice
celebration dinner on a barge and
everybody there's a there's a the
atmosphere and the spirits in the
program is like no other probably I've
ever seen it's a great bond but also
people have a sense that they came with
a sense of purpose and now they're
leaving with a real sense of possibility
you

---

### Strategic Branding: Programme Experience | London Business School
URL: https://www.youtube.com/watch?v=dTmfFPTLX30

Idioma: en

I thought that the course of strategic
branding fitted very well the needs that
I felt ahead it's all about you know
knowing your own DNA of your company and
once you really know that you can start
thinking about how you want to deliver
the message you can then start thinking
about what kind of products you should
attach to that to that DNA but it's
really really easy to misinterpret
things or to make assumptions of what
consumers and or your business partners
actually
expect from us I can categorically say
that these insights are serious eye
openers the kind of training we had
really brings back uh the thought that
the consumer is the most important part
of building a brand the balance of the
program is just perfect so just the
right level of information that's being
thrown at you a few amazing methods that
you could actually take in but then also
practice in groups practice because you
have an actual professional coming to
talk to you I fell in love with that
ability that the professors had to
transfer clear methods that you could
live with and apply in real life
impressive in term of students
impressive in term of Staff impressive
in term of system if you get out of your
day-to-day work environment and get more
focused into a learning joury with an
exchange of different minds and culture
and experience it unlocks a lot of ideas
we're learning learning in an
environment where we're being shared
certain local cases for example tanas
Cafe one of the case that we're working
on right now gives you a sense of the
local uh characteristic of the market as
much as you try and read beautifully
written case you actually you're able to
witness it to live it for yourself they
want to expand on their business model
but don't quite know how we could really
start seeing where the
obstacles could be identified that vents
them from growing their business what I
thought was really interesting was the
fact that you immediately test the
theory in practice yeserday walk in
region Park was a new experience it was
a walk with pride being part of a team
that belongs to London business school
it's a real feeling of sharing ideas and
learning from each other feels like a
very organic Journey so to speak but you
realize that we are in the end all
dealing with similar issues and and
challenges it was very beneficial to be
uh with different people and different
experts working with someone that has a
business experience that's very
enriching changes the way that you
consider the different ingredients into
solving the problem and that's what I
think was really fun to do in teams
throughout the week and it's a beautiful
group it's a great casting as we'd say
in movies we're all leaving with a a a
piece of each
other the the night at the rest of one
was the night that everyone was
connecting the atmosphere was so great
we did a lot of toasts not only this
program has met but it has surpassed my
expectations I feel like tomorrow
morning if Coca-Cola wants to call me
and I'll be like no problem let's take
it on let's rejuvenate your brand it's
Rich it's complete it's at the same time
easy everything was simple would I
recommend the program uh I already did
[Applause]

---

### Negotiating and Influencing Skills for Senior Managers: Programme Experience | LBS
URL: https://www.youtube.com/watch?v=iWz8NLPqg2o

Idioma: en

you
I chose this program because I've
already studied at London Business
School and I really enjoyed it they
wanted to improve my negotiation skills
and to develop these inside my company
and with my own team
I think negotiation is very important I
think where it's something we're doing
on a daily basis and I think the more we
improve our skills and that category it
has benefits on our social life as well
as our business life I work a lot on
partnerships and I also handle the
acquisitions for the company so
negotiation is very much part of my work
lbs is one of the top schools in the
world for that and I researched the
teachers and the faculty and look very
impressive I was looking for a program
on negotiations which is what I do every
day they cover a lot of items in this
programme and they are very interesting
subjects that help us understand
ourselves and understand how to go about
the negotiations first of all the assets
to an assessment and we start by looking
at the assessments of how are we
behaving and how people perceive our
behavior it opens our eyes to things
that we are sometimes an hour of coaches
have been made available to us to
discuss our personal profiles our
personal weaknesses there was a lot of
customization and personalization that I
didn't expect from these questions as we
operate in many countries a big part of
our job is working on jayvees as well as
partnerships and I think a lot of the
skills I learned here in terms of
influencing people as well as
negotiation will be very valuable for
myself and my company I could actually
put in practice some techniques and some
ideas that I had about negotiation in a
safe place and with other professional
negotiators from other cultures the
faculty and this program helped us a lot
they have dedicated a lot of time
faculty has tremendously deep experience
in this they've been doing it for over
17 years and they've participated in
negotiations in many different settings
and situations the most significant
learning
I got from this program is the use of
science
I found silence being very powerful
during negotiation which is something
that I've never used that much but I've
actually put it into practice a very
long term benefit for my organization is
that I'm gonna use what I've learned
with my team I mean within my company
and I'll try to teach them what I've
learned here this program changed my
direction because now I really sit down
and look at how people are behaving and
then how to address them in the
negotiations a lot of these topics like
negotiation and the softer skills it's
less about the data and the actual
detailed technical knowledge that you
get and it's more about having the basic
skill set and then practicing that
externally so for a topic like
negotiation this is perfect because you
really get the gist of everything in one
week and then you can spend the rest of
your life effectively practicing it one
interesting area that I also didn't
think about before coming to the program
is the people I would need here and
networking will be able to do
there were people literally from all
over the world and it was very
interesting to see their views on things
and how they think about certain
problems and in different ways you've
had some of this experience I would say
this is definitely being intense and
insightful
you

---

### Coaching on the Leading Change Programme l London Business School
URL: https://www.youtube.com/watch?v=G2u8JS0Mivk

Idioma: en

[Music]
coaching is a really fundamental part of
the leading change program here at lbs
it makes a a deep connection between the
theories the Frameworks the research and
the teaching that goes on in the program
and then actually how that's applied and
used back in the workplace so it's
fundamental because of
implementation but it's also fundamental
because it allows uh the coach to tailor
the experience for the coach e and for
the participant so they get the most out
of the program what is significant about
the leading change program is that The
Learning Journey is across a period of
five months it's not just the week that
people are here at lbs so as coaches we
get to spend time with them during the
program but we also very importantly get
to to support them during sessions in
that 5-month period participants um are
asked to complete a pre-program
questionnaire there are a number of
questions on that uh questionnaire and
they range from asking the participant
to describe a particular change
challenge that they want to use in the
program and there are also questions
around um asking the participant
consider how compelling is the case for
change we also ask the participants to
rate themselves in terms of their
influencing skills and their
communication skills Etc as the lead
coach uh one of my jobs prior to the
program is to review all of the
questionnaires that come back from our
participants that gives me a good sense
of the type of challenges that people
are bringing and most importantly for me
to match the coach to the participant on
the basis of their change challenge some
of our coaches have worked in large
corporate organizations very complex
organizations where they have been um
part of change programs and leading
change themselves so our coaches have a
very deep understanding of the type of
situations that our participants bring
to the program the most important thing
is that we're very quick and have to be
very pragmatic about understanding the
the context that the participant brings
because understanding change in their
context is what really matters the
participant works with one coach for the
whole of the period of 5 months and
that's important because it's about
building um Rapport so we can both
support and challenge during that
process after several days in the
program we have a coaching session uh
individually with the participants we'll
be actually looking at those
questionnaires and we'll be going into a
lot more detail around particularly the
change Challenge and sometimes there are
more than one but also the context of
the
organization and particularly what what
does the participant want to get out of
the coaching sessions both on the
program and post program the sessions
that follow post program are much more
deeply about
implementation so the first session
after they they finish the program is
about their action planning what models
and Frameworks they might be using but
it's really getting into the
nitty-gritty of the detail about how are
they going to support the change process
that they might be leading or they could
be participating in as we follow through
and we have more sessions of course it
then gets into even more detail and more
depth in terms of people's reaction to
what's going on um so we can stand
alongside the participant as they go
through that change Journey about
managing change the impact of coaching
on the business is enormous in so much
that it's about getting the results from
the change program and making a
difference in the
organization on the participants
themselves of course for them to be
supported through that process is
enormously
valuable they get to speak to someone on
a confidential basis they get to apply
some of the tools and techniques and the
Frameworks and of course they get
support from the coach which can
sometimes be as important as encouraging
them to use the strengths that they have
already and to be confident in that
place as a leader of change

---

### Making Innovation Happen: Programme Experience | London Business School
URL: https://www.youtube.com/watch?v=33KWTsCoB3k

Idioma: en

I'm the innovation manager for my
company my role is to look at innovation
best practice across the globe
I studied innovation in Australia I've
done it innovation missions to the US
and now I want to really see what was
happening in Europe
my role is very much about helping my
customers to actually think about and
drive innovation in their organization
what was interesting about this course
is the mix of academic with some real
examples and the opportunity to meet
people that are also grappling with
these issues my real highlight is the
guest speakers have really allowed me to
challenge my thinking it challenged the
theory but it's also allowed us to
challenge them
I've just been incredibly impressed for
Julian it has a great wealth of industry
knowledge that substantiates the
academia with real-life corporate
examples of how companies have either
innovated are not innovated and the
consequences the visit with the Design
Council for me has been an absolute
highlight it very much aligns with some
of at the aspects of the work that I do
and being exposed to such a different
way of thinking different ways of
working actually helps to reframe a
problem and make you look at it from a
different perspective the Science Center
had some great examples real-life
tangible hands-on activities to help
demonstrate and cement that foundational
knowledge the study groups may have been
exceptional because the other people in
the study group aren't from my industry
they don't accept my assumptions they
don't apply our binding biases it really
challenges me in my thinking being
exposed to the thinking the challenges
of people from organizations as diverse
as shale and Google as an example is
really interesting exposure to the world
of you
and what it means from an entrenched
organization traditional organization to
what we think of is a very modern
organization we had a great experience
to go off-site as a team and have dinner
at the Savoy and central London it was
wonderful to be able to outside of being
here on the LPS campus to get together
and the social life I would highly
recommend the making innovation happen a
course with LBS you've got your your
academic rigor
you've got exposure to real problems
that have been solved and the ability to
build your network this has really
opened my knowledge aperture as to what
really we can do as a company to be more
successful more customer centered and
focused and how we can motivate our
employees anybody whose manager senior
manager dealing with innovation
understands the strategic nuances to it
this is a highly recommended course of
lemon
you

---

### Accelerated Development Programme: Participant Experience l London Business School
URL: https://www.youtube.com/watch?v=34-XoZ-xed0

Idioma: en

I chose the program because it offered
this holistic approach to several areas
of management leadership as well as the
the overall international community that
I would help to define here
I've already had previous experience
with London Business School I did the
emerging Leaders program and naturally
the next step up is accelerated
development program my company had
actually looked at a couple of programs
of different universities but London
Business School seems to be the best fit
for development into management I wanted
to improve my leadership capabilities in
order to accelerate my career
development and transition quicker into
a general management position and also I
was looking for a set of tools and
frameworks that will help me enrich my
understanding of strategic decision
making learning that I got is really
recognizing that teamwork empowering
inspiring teams does deliver confidence
and competent people to do the job it
challenges the way you used to perceive
yourself and forces you into this very
serious self-reflection period and I
found it quite powerful I have seen a
very insightful faculty relevant to
what's happening in the world and very
engaging and also inspiring you don't
just go you sit in a lecture room and
they teach but they make sure you're
very involved in every aspect of every
class you are in so you are going to
glean knowledge you can't escape it you
are going
you really also have an unexpected
learning every time we go through some
of the team activities like cooking is
is a great example really learning from
each other listening to each other and
also at the same time it's a program
it's a project you need to be humble and
learning and this is the key it was a
great experience everybody brought
something different and you figured out
something about people that you didn't
know one of my highlights of the
well-being program
besides the 5k run it's being able to
actually decompress and you know you
sort of analyze your sleep pattern and
your blood pressure you know we all work
in a very stressful environment and the
action you do have to take time for
yourself itself is very important I'm
I'm at least already thinking what what
do I apply it at my workplace and what
do I apply in my life even actually it
doesn't only focus on the people as
leaders and focuses on the people as
people because it is about who our being
as well is about being being yourself
when you have to work with international
people from all over the world from
different walks of life their impact on
you is very immense and you take a lot
of it that's what we learned so much
from each other and such a safe
comfortable environment where you can
learn from others I'm gonna take
everything they've taught me in just
implemented one person at a time one day
at a time
hopefully my organization we see the
benefits of the ATP program so please
send some more people here which I will
highly recommend
if I need to sum up my experience with
three words that's going to be difficult
but I would say it's it's high impact
learning was insightful and action there
it's an eye-opening experience
absolutely amazing
a must do for every business executive

---

### Senior Executive Programme Experience l London Business School
URL: https://www.youtube.com/watch?v=6AneCrc5LGY

Idioma: en

the reason why I'm here for the SP Lana
business school because I think every
few years you need to reset yourself get
some new skills or develop your skills
more I thought lbs was the right place
to go to it's such a great opportunity
to be well recognized world renowned
school that draws such great
participants this course has given me a
toolbox of ways to make decisions think
about why we're doing certain things
we're doing and then the how we're doing
them I've been able to learn Who I am
and how I think and how I approach
things which could be very useful in
strategizing in order for being a good
leader you need to know yourself
therefore I found the coaching sessions
very effective very helpful really
taught me a lot there is incredible
variety in both the cohort and also the
faculty they're all different you know
they all bring a different dynamic to
their subjects
we've had the opportunity to meet with
the Dean very early we've had the night
where we brought all their cultures and
our international experiences together
and then just last night we finished off
with a dinner together as a team and I
think all of those experiences you know
have bonded us together finding that
connection with people on a very human
level has been exciting empowering
educational and I think we found
connections with people that will have a
lifetime the long-term value is not only
that you get to learn all the hundred
and one tools of management the
leadership skills by knowing who you are
you're able to connect the real issues
to these tools and be effective in the
real life that I'm going to face in the
future we've learnt a lot about
ourselves and we can only go and change
those as leaders if we go back and walk
the walk and talk the talk so so maybe
the difference will be something I'll
take away the attributes that I've
picked up along the way really allow me
to be more expensive and has driven me
to be more expensive when I go back now
I'm an alumni of London Business School
effective education I feel as though
I've joined a much wider family of
people who've been through the same
experience to me and there's a great
bonding that I think I'm a very good
place at the moment because I learned so
much this four weeks and I'm very
confident
we'll be able do the right thing with it
and that will help my organization and
that will benefit me as well my life
changes been well changing it's been
just the greatest experience
professionally

---

### Leading Businesses into the Future: Robin's Impact Story l London Business School
URL: https://www.youtube.com/watch?v=qKCcE5l0DJU

Idioma: en

my name is Robin Windley I'm the senior
vice president of human capital for DP
world we are based in Dubai I chose
leading business into the future because
I wanted something that was a little bit
different I also like the fact that it
came with a coach because that's
something that I personally recommend to
people within our organization to
consider having a coach the program
helped me to address the challenges by
really giving me an opportunity to
reflect the coach was particularly
invaluable in this area because I had
the opportunity to bounce my thoughts
and ideas of her we actually had a
couple of business challenges that I had
identified as an industry we have very
very low gender diversity Reds heavily
dependent on male employees but I want
to determine and define ways that we can
address that as we progressed and as
time went on I think the the enthusiasm
and the energy that I gained from being
there really really propelled me to a
different level and by the time we got
to the end of it frankly could have gone
on for another week as far as I was
concerned leading business into the
future is all about understanding how
you need to modify your own behavior the
understanding that the old norms are no
longer applicable that we are now in a
very different business environment it
was almost like a journey for me and it
was very beneficial as a result of it
main achievement since leaving leading
business into the future would probably
best be described by those people that I
work with you know what you don't have
to have all the answers it's not got to
be you that provides them all but what
you have to do is give others the
freedom and the opportunity to find them
for themselves and I only see the bond
between DP world and under business
school increasing as we go forward for
me the journey has just begun there's
more to do but I'm enjoying and looking
forward to it

---

### Leading Businesses into the Future: Pedro's Impact Story l London Business School
URL: https://www.youtube.com/watch?v=nfldd0IDKwI

Idioma: en

my name is Pedro lay down i am chief
operations officer and marketing officer
at atlantic Eubank we have operations in
llangollen rwanda and portugal and
lisbon and we are kicking off our
operations in the media as an executive
board member at atlantic pool I hope
responsibilities for marketing IT and
operations on a cross-border level
choosing London Business School was easy
it's one of the top business schools in
the world it operates in the leading
financial district in Europe and it has
a multicultural and cosmopolitan
approach on real learning leading
businesses into the future is a London
Business School program that looks into
organizational change and also
leadership faculty are brilliant and we
are talking about people with deep
experience and deep knowledge around
what it takes a leader to successfully
transform organisations about the
learning experience there's a very good
blend between in and out of the campus
and the real life connection is about
the coaching piece that starts before
the program where you have a coach and
you debate what are the challenges you
bring to this program and keeps after
the program with three coaching sessions
in order to see how this program adds
value to your management skills and your
behavior skills in order to transform
your organization in cope with your
challenges I can say that my most
significant learning from this program
is about fully understanding authentic
leadership its benefits and the impact
it has on you and on the one that worked
with you I could say that my main
achievement after leaving the program is
to get teams to work and cooperate in
different ways different atmospheres and
methodologies in order to deliver
effective and on time our transformation
goals this program helped me to see the
global market in a different perspective
so if we have a full comprehension of
trends mobility
the future of work how to engage people
around different cultures and the way an
authentic leader can foster
transformation we could say that this is
a very important input as an
international participant this program
helped me to develop and improve my
world's network if I want to sum up in
one sentence my experience at leading
businesses into the future I would say
that it's a comprehensive integrated
real life connected experience that
helps me and my company to cope with the
future challenges of our business

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### Executing Strategy for Results: Programme Experience l London Business School
URL: https://www.youtube.com/watch?v=PA-TjDDLmLc

Idioma: en

I studied the execution strategy for
results here because I was very
interested in the practical approach of
the program at a certain level you would
have gone through quite a few leadership
and strategy courses trainings seminars
workshops I'm used to all of that now so
I needed a bit different that will help
me in implementing day-to-day the design
of the strategy is a difficult part but
the execution the true execution of the
strategy I think it's even more relevant
ok one of the main highlights has been
the passion of the faculty now that's
not in a sense is in the sense of people
coming across as if they've been there
they've done it their phrases like most
win battles and evolve bottlenecks all
of that suggests people who have
travelled a certain journey rather than
a distant you know academic engagement
with the subject
well actually the combination of the
case studies that brings us real-life
examples with the theory behind it I
think you need both to translate the
examples into our daily activity the
Brooklyn squares exercise was a very
interesting one a good exercise in
collaborating and for my team in
particular we have to learn that you
know it's no use of jumping straight in
is good to take your time and understand
the building blocks understand the rules
of the game before you became it was
basically putting into practice
everything that we learned and how
collaboration is so important in order
to achieve your goals so I think the
most difficult part of it was that we
couldn't speak so it was really exciting
to see ok we're achieving that goal
we're getting there just session was
very unusual yes I think has been an
exam very simple but meaningful example
about
results you can achieve with
coordination with respect among
different teams with listening about the
others and stepping is a leader when you
think it's necessary very interesting
learning how to simplify something was
very key at the beginning of a task
you're always concerned how am I gonna
do this ok let's just attack or whatever
creates value for the ground station and
then put a plan on that and just keep it
simple so I think that's my key thing
just putting simple tools and frameworks
into into practice I think the most
significant learning is that I have
understood that my company's problem are
very common across different sectors
different companies and different
cultures so they must be the relevant
problems as they are so common sometimes
the global picture is a bit losses in
the list
nice loss not because people don't mean
well but is because the pooling together
and understanding that you know everyone
can achieve a still day at the corporate
level you know we're failing throughout
the fact that you know there are major
battles and those battles sometimes
include ourselves and how we operate as
leaders in the organisation
it doesn't end when I leave here I want
to continue learning and and and in
giving that knowledge sure to to the
company three words to describe the
program would be behavior simplicity
numbers
you

---

### Leading Businesses into the Future: Julie's Impact story l London Business School
URL: https://www.youtube.com/watch?v=phwQFZs6A2M

Idioma: en

my name is Julie Townsend I'm the
headmistress of st. Catherine's girls
school in Sydney which is an independent
girl school of a thousand students and
about 250 staff I went to the london
business school to study leading
businesses into the future and i think
coming to that from a school background
was absolutely fabulous because schools
are communities but they're also
absolutely businesses so to meet 50
other people from around the world who
weren't from an educational background
but from a business background gave you
a really good perspective into how we
lead our business into the future I
chose the london business school because
in many ways london is at the heart of
Europe so you didn't just get an
Australian focus view we had a worldwide
focus view and I like to think of st.
Catherine's yes for a local school but
were serving girls who are going to go
on and work in a global community
apparently about seventy percent of the
people now who are born in Australia
will live and work abroad so you don't
actually just have to be a citizen of
your own country you have to learn to be
a global citizen and you have to be able
to feel comfortable doing that and I
think the london business school does
bring all that together the course was
really innovative so we learned about
leadership not just from lectures but
doing research at the Science Museum
doing research at the Victoria Albert
Museum so it's a really innovative way
of looking at how you lead and how you
create change st. Catharines were
starting our next five-year strategic
plan for the sort of guidance the advice
the inspiration I have from the london
business school is really excellent in
helping us think about that strategic
plan but really important that i wasn't
expecting and help us thinking about how
we better educate girls i've got a much
deeper insight and I've got the insight
from you know really renowned expert
the long-term value for me as a leader
is it helps deepen and help me
understand and explore my leadership
skills for the organization it really
helps the organization think about where
are we act why we at this point in time
and how can we really do more to improve
ourselves as an organization so I think
it gives you that deep thinking that
deep understanding the advantage it's
given me is helped me to see the world
from a much more global sense and I
think it's helped me to reflect much
more clearly on my leadership I'd say
that what I learnt from the London
Business School's inspired me for sure
and it's given me some really solid
foundations of learning and
understanding that i can apply to
everyday life one of the most rewarding
things is that you don't just go for a
week course and that's the end of it
there's a lot of follow-up which is
really valuable I'd highly recommend the
course I think it's motivating it's
uplifting and you feel better prepared
to do your job if I can sum up the
experience in three words I'd say it was
informative it was inspiring and it was
applicable
you

---

### Mergers and Acquisitions Programme Experience l London Business School
URL: https://www.youtube.com/watch?v=YjibO94CR74

Idioma: en

my boss did the M&A program at London
Business School about two years ago
really enjoyed it and really recommends
at it and saw does something that I
should do as part of my own professional
development I'm a lawyer so I wanted to
say into this dark art of the finance
world and understand a little bit more
what goes on
what sort of Satan's army and high their
meeting contacts
I trusted to Yemen a program at lbs
because over the last few years we've
done some acquisitions getting the
expected result has been very slow
therefore decided to come here to learn
where we're going wrong and how we can
improve things
the most significant learning IBM's on
the M&A course was that finance isn't a
dark art you don't need to be a genius
you just need to know some tricks of the
trade some of the vocabulary and then
you can be part of the club to was a lot
to assimilate in such a short period of
time but what the really like about it
is the use of real-life scenarios do you
learn to do servers use eleven breather
every day for a week and it really may
actually think they play about what it
is you're learning what other questions
you need to ask rather than a snippet
here where you may get one nuggets it
comes together at the end of the week
with a really clear idea about what it
is that you've learned the course
structure encourages people to interact
with each other and share experiences in
our class there were 32 of us 20
countries very powerful demo sharing
knowledge my highlights on the program
this week have been meeting lots of
really interesting people from really
diverse backgrounds and cultures and
really getting to know more about people
and what they experienced at work in
that context you've got people who are
experiencing twenty five percent
inflation for example which is not
something that I ever would have thought
of and so they've got a really different
take on some of the issues which will be
valid and will be useful in the future
the NACA was very good I have to say
with all the classmates we got closer we
were sharing details with taking
pictures of each other and the food was
excellent
the program has really made me think
about what I do at work in a different
way
quite often lawyers come in to M&A
transactions kind of buying in the
middle when the decision to acquire has
been made the strategy instance at and
that the price has been set and so what
I would quite like to do now is go back
to a little bit in the beginning ask
some of my colleagues more challenging
questions and to really become part of
the team I can't wait for an acquisition
to come along but what I'm going to do
when I get back to the office is to try
to develop a framework so that we can
plan acquisitions back
in one sentence I described my
experience serious learning but in a fun
and friendly environment definitely
worth it
you

---

### Developing Strategy for Value Creation Programme Experience l London Business School
URL: https://www.youtube.com/watch?v=SXFKiHaSv4o

Idioma: en

I chose to study the dsvc program at lbs
because I was looking for something that
had the depth in content and a very good
repetition of varied faculty I needed to
work on strategy and and get more formal
strategic knowledge and the course
content I felt gave me that best
opportunity and the reputation of London
Business School is fantastic I had a
business plan that I was working on but
I felt that I did not quite have the
over encompassing knowledge to execute
so by attending this program I was
hoping to get all the relevant tools and
framework to give me that extra
confidence to execute it in real
life I think the biggest objective is
first of all is to structure the things
that you learn by doing business and
then to widen the Horizon and to see
things from the more helicopter
perspective the highlights of the
program certainly thus far have been the
quality of the lecturers the course
content has been fantastic as the course
comes to an end there's a bit sweet
feeling because it feels like breaking
away from longtime friends but we know
we would keep in touch I think this
learning helps a lot and the building
value for the organization especially
for such an organization that exists for
many years like Avon it's very
traditional it's leading the first thing
is necessary is to acknowledge that this
thing exists out there and there is an
opportunity the unique feature of this
course is not only are you given the
knowledge and the tools to make
decisions around strategy but you also
taught how to expand your thinking
bigger to break existing rules and make
real difference in your
workplace the long-term benefit of the
experience for me is that course content
that brings about that deeper thinking
the ability to challenge in areas that I
didn't or hadn't probably considered
before the energy the content the depth
the humor I mean these were really
intense sessions you know we used to
start we had pre-learning material we
had you know it was like a Powerhouse
during the time that we were here and
then applying all this so I think for me
developing a strategy for Value creation
would not work if we wouldn't have this
depth and breadth of knowledge that we
got from The Faculty your attention is
always with them the way how they
present the information how do they keep
you engaged and involved is just
absolutely it's a high quality product
the intensity brings out the best in you
because pressure gets you thinking and
that's just the perfect environment
people need to make sure that they
capture the best value out of this
course in three words I would say great
faculty great content and great
applicability Focus challenging and
rewarding
intensive impactful lifechanging
[Music]

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### Executive Education Programme: Leading Teams for Emerging Leaders | London
URL: https://www.youtube.com/watch?v=XMnmNwCt4eA

Idioma: en

[Music]
leading teams for emerging leaders is a
new Executive Education Program offering
at the London Business School it's
designed around two primary objectives
the first is around greater
self-awareness and the second is around
greater understanding of Team processes
and team
design this will be primarily done
through evidence-based discussions
around leadership through influence
communication and coordination and
managing
conflict we deliver the program in a
variety of ways one of the key ways is
through presenting And discussing Theory
and relevant research another key way is
through group work every day
participants are going to be discussing
with one another their key ideas to
better understand the concepts we
discuss finally they're going to be
doing onetoone coaching which will give
them an opportunity with an executive
coach to discuss their career goals and
where they're
headed almost every day participants
will be engaging in experiential
exercises that will give them Hands-On
opportunity to think and practice the
ideas discussed in the
course one of those exercises will take
place at silverston the home of British
racing this exercise really provides an
opportunity to get hands-on experience
with some of the key Concepts we'll be
discussing in the course such as team
design communication and
coordination teams are tasked with
changing all four tires on a car car up
against the
clock each team has three attempts
changing the tires with breakaways with
lbs faculty and coaches to discuss
challenges and improve
performance success in this activity
involves good communication
collaboration project planning and
delivering results in a fast-paced
everchanging
context
go the program extends well beyond your
week London Business School you will
leave with a tangible action plan which
you hope to execute within your
organization and this action plan will
benefit from the support of the London
Business School primarily your executive
coach as well as your program
colleagues leading teams for emerging
leaders is all about transformation
through experience developing an
evidence-based toolkit building
confidence knowledge and capability
unlocking your leadership potential

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### [Private video]
URL: https://www.youtube.com/watch?v=1IkqmqaORHc

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### Mergers & Acquisitions I London Business School
URL: https://www.youtube.com/watch?v=3ZH3M6Yh2gQ

Idioma: en

the mergers and acquisitions program a
London business could provides a unique
perspective to you by giving you an
understanding of the strategic aspect of
mergers and acquisitions but also the
financial implications of these
strategic decisions in the current
business climate mergers and
acquisitions are relevant to you because
they have increased in their frequency
their size and complexity and are
affecting our wide range of sectors the
programme covers three core themes the
first theme is on the strategic aspects
of mergers and acquisitions the second
is on the finance evaluation and
reporting implications and the third
theme covers the priorities and
different aspects of the post merger and
acquisition integration first it is
aimed at mid-level and senior level
corporate executives that have
experienced an M&A transaction in the
past but are about the experienced one
with their firm the program is also
aimed at entrepreneurs or running their
companies around in search of outside
capital to fund their business
it is also aimed at investors investing
in private equity companies but also
regulators who try to understand this
transactions and understand and assess
the implications of these transactions
for the competitive environment
participants in the program come from
many countries that enriches the
discussion in the classroom but it also
allows you to build a global network of
friends and potential business partners
the classes are very interactive you'll
be part of class discussions group
discussions with your colleagues will be
exchanging new ideas exchanging
experiences will have just speakers from
the City of London discussing the latest
developments in their fields related to
mergers and acquisitions the programme
offers you a variety of skills and
insights into how a corporate
acquisition strategy fits into the
overall corporate strategy it will also
give you an understanding of how the
acquisition strategy is giving you a
competitive advantage and helps you
create value for your shareholders it
also helps you understand how to value
mergers and acquisitions transactions in
particular acquisitions targets and
understand the valuation pitfalls that
are very common out there and most
importantly understand how to value
synergies in these acquisitions
transactions the key impacts for you
would be to get a new critical
perspective on the end-to-end mergers
and acquisitions process but also to
network with like-minded individuals and
exchange professional experiences this
program is unique to you because it puts
together the strategic and the financial
aspects of a merger and acquisition and
it does that in the context of best
industry practices
you

---

### Leading Change Programme l London Business School
URL: https://www.youtube.com/watch?v=y_UNkpdkJAk

Idioma: en

the leading change program at London
Business School brings together a couple
of different unique things one of them
is that we look at both the psychology
of sustainable change and the strategy
of sustainable change and where those
two things come together or where
sustainable change happens we know from
a huge body of research that most change
programs fail the reason to take leading
change is to make sure that you're in
the small minority of people were able
to be effective agents of change what we
found as the environment is changing
more and more is that leaders need the
people to make a lot of the changes
rather than only expecting management to
cascade change down so part of what the
program does best is help leaders think
about engaging the people to make their
own changes what we cover on the program
really comes into six categories firstly
how do you actually get things to change
when you're dealing with a lot of
complexity and ambiguity secondly how
you capture the hearts and minds how you
bring people along with you
thirdly how do you really influence a
diverse group of stakeholders how you
manage the networks of different
stakeholders as well and really
understand that the network effects and
then how do you communicate the change
agenda both with individuals and the
larger groups and finally it's about
your own individual resilience ability
to cope with the demands of your
environment as well as building
organizational resilience the program is
unique in that it is practical and it's
interactive some of this is classroom
learning where we're going over
cutting-edge ideas evidence basis and
showing you the models and the theory
for why it works some of this is
practicing this be it a simulation on a
computer some of this is going to
businesses where we look at how the CEO
of that organization has addressed
changes that he's had to deal with one
of the things we do on the program is we
really help you identify a current
change that you really want to work on
and that's a theme throughout the week
but also you'll be working with a
world-class coach who will be working
with you one-on-one to make sure that by
the end of the week
very clear change plan that will help
you make real step change progress and
getting this change to happen in your
organization the program is aimed very
senior people who have the chance to
make something happen this might be HR
managers but this might be CEOs it's
people that want to understand what are
the fundamentals of creating a
sustainable change and how do I get my
people to make that change
after the program we continue the
coaching process one on one that you
started during the program we also get
exposed on a monthly basis that to video
content we've generated to really remind
you of the key themes and really keep
you up to date with the latest thinking
from the school around leading change

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### Insights from the faculty of the Accelerated Development Programme l London Business School
URL: https://www.youtube.com/watch?v=-R8qY0EUJrk

Idioma: es

the accelerated development program is
for managers Who are undertaking a
transformation They are moving from
Being functional leaders to Being
general managers that are Going To lead
their organization so they need to
understand All of the different elements
that come Together When you're making
managing decision You are facing One of
the most significant changes in your
career and the things that made you
successful in the past Are Not
necessarily the same things that Make
You successful in your New Job we Start
in the First week Looking at you your
leadership your Style your strengths
your weaknesses and then through the
Rest of the program we Go through All
the various functions in an organization
that help you understand the broader
organisation That You're Now going to be
functioning in we live in a very
competitive World Where managers need to
think about competition in different
dimensions in the product Market in the
employee Side but also from capital
raising point of View increasingly
experience differentiates brands in this
global competitive environment so As you
move into general management It's really
about coordinating the Delivery of a
customer experience across different
functional areas as You're moving up the
corporate ladder what you realize Is
You're Getting further and further away
from the customer but ultimately It is
your Job to create shareholder value by
providing value to the customer so my
module really puts the customer into
Focus that allows you to differentiate
yourself visa your competitors
nowadays organizations are very
interested in How do we exploit that
wealth of Data that We have stored to
make better decisions and improve the
performance of Our
organizations that comes down to
decision making it comes down about How
do you combine your intuition but more
importantly how do you also use Data How
do you use analysis to come up with
decisions that are Going To Drive the
performance of your business to be
better than competitors if you go
through my module you have more
confidence in making Those decisions and
in designing plans of action that can
result in better overall outcomes really
this program is about actually doing One
afternoon I Send you out into London to
Explore London and to learn from what
you Saw And I also have you play a Board
game with chips Where you actually
practice what you learned in a
competitive setting so It's all about
the
experience the program has an Outdoor
day Where you'll be going offside to do
physical challenges and when you come
back you'll be having a Chance to
debrief but most importantly get
feedback from other par as well as the
coach about How you've interacted What
you're doing well what areas you might
want to think about What makes this
program Unique are the interactions That
Take Place between the participants not
only in the classroom and in the Group
work but also in the social aspects of
the program the program has real
International diversity When I say
International I mean Not Just around
europe but around the world you kind of
find your voice in a se of accents so
That's One of the things That's really
special about the London business School
that absolute diversity Where the
learning really becomes I Guess Crystal
Clear When you're confronted with other
perspectives on the same problem I know
that these cohorts of adp become very
Close communities Where they actually
rely on each other and they become
Friends for life this Network that you
build and the entire lbs alumni Network
that you become part of is one of the
Great benefits of undertaking the
accelerated development
pram H

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### Insights from faculty of the Senior Executive Programme l London Business School
URL: https://www.youtube.com/watch?v=fqO2wsE4qZg

Idioma: pt

the Senior Executive program is focused
on helping You Become a better Senior
Executive uh to Deal with New audiences
New problems New challenges and really
prepare you for the the transition into
that role we look at you on a good day
what you like when things go well we
look at you on a Bad Day we also look at
your values and all thiss up to your
Unique selling
your leadership Brand I teach two
subject on the program I teach finance
and Corporate governance in finance we
really preparing you to ask the right
questions in the seite in terms of
Corporate governance you need to
Understand all the mechanisms that are
in Place that govern the organization
which seem to work which Don't seem to
work in today's everchanging environment
when there are mergers restructurings uh
sholder activ After firms that combined
I think makes the finance part and thep
as a whole even more relevant today my
Focus is is primarily on leadership and
Culture there are two questions first
why should anyone be LED by you which
connect to The leadership Question
second why should anyone work here which
connects the issue of Culture what i
want you to do on the program is to
think hard about your own leadership
abilities and secondly about the way in
which you can construct your
organization and develop it in ways
which attract the right kinds of Talent
that you need we use a variety of
teaching methods to teach the
program specifically in leadership we
have assessments to help you understand
better Who You Are we have lectures and
discussions we try to draw on your
Experience and the Experience of others
in the classroom we bring in
professional coaches we work with you in
a small group and you help to Coach
other participants and they help to
Coach you we have a whole day simulation
Now on how to Deal with boards and
boards of Direct
and
their
is and what your ro Should Be as Senior
execu Eng with the board we also have a
variety of speakers Who come in The
evenings Who have Amazing leadership
experiences and they share that
Experience with you one thing that makes
thep Unique is the diversity of the
participants where they come from their
backgrounds and experiences they the prr
creativity increases With diversity so
the is always a kind of wonderfully
Creative Experience through the
interaction of the participants With
each other the faculty With them having
done the program you will be a better
Leader you will be able to ask the right
questions you will be able to get people
involved in What You Want to achieve and
in the processes that you need to follow
to get the organization there it really
does Transform individual and
organizational futures that's its
ambition
h

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### Essentials of Leadership l London Business School
URL: https://www.youtube.com/watch?v=WBLnJazNH94

Idioma: en

[Music]
the essentials of leadership program is
one of the schools Flagship programs um
it's a 5-day program and The Core theme
could be summarized as getting the most
out of people and so to the extent that
you could think about getting your firm
a sustained competitive advantage
through people we tried to talk about
the leadership skills that would help
you do that you know that uh you're
working in an intensely competitive
environment
and I just don't mean in the product
markets I mean you are competing for
people people are looking to be the best
they can be in various kinds of
organizations so they'll be asking you
the question why should I come why
should I come to your organization why
should I be part of like your team uh
and this program is going to provide you
with some kind of answers for this
question the program has six elements
it's finding purpose it's leveraging
strengths it's empowering others it's
leading change it's influencing people
to lead change it's building effective
teams that are diverse and brings
diverse skill sets and experiences
together the kind of people we've had on
the program and the kind of people we
want on the program are thoughtful
people uh people who are curious uh
people who want to build purposeful
organizations and uh people who are
moving on uh from leading teams to uh
General management positions within
organizations the program is aimed at
bringing together a classroom full of
people from lots of different functions
so we'd have everything from marketing
to operation to finance I would say lots
of different countries different country
cultures are going to be represented so
we get a lot of good discussion in the
room about that it's a pretty senior
level there are leaders that have had a
lot of experiences with what works best
and what doesn't work at all so the
level of sophistication in the room is
something that you'll probably value so
it's a mixture of lectures discussions
role plays videos guest speakers in the
past we had uh a rider um Cup winning
captain we've had a sailor who went
around the world so these are the kind
of guest lecturers and guest speakers
that we bring also into the program what
the program is really good at giving you
is the chance to learn about
evidence-based models ways of thinking
about human behavior and how people can
get the most out of themselves and
others we provide very very strong
support in the form of coaching uh you
have many coaching sessions during the
course of the program where our
experienced coaches uh are going to be
using validated instruments to talk
about you your strengths uh what it is
that your team sees as your strengths
and helps you develop a little bit
better uh what it is that you're
bringing to the table you get to try to
encapsulate what is the one or two
things that you'll change starting in
the weeks to come and we capture that
and we have you start to think about
that as a way to personalize your goals
you're going to come back as some kind
of a transformed leader uh this is going
to energize the people that you work for
and and in turn it's going to make for a
better organization
[Music]

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### Leading Businesses into the Future: Participant Experience | London Business School
URL: https://www.youtube.com/watch?v=rW1C7tsvEdI

Idioma: en

my name is Ken Thompson I'm one of the
senior team in the Scottish Government
so I'm an a civil servant supporting
ministers and making Scotland a better
place before the course I was looking
for something that would update my
thinking give me access to the ideas
that are current now I think I've I've
got even more than that because we had
not just great ideas but also great
examples in the people that we've met of
putting those ideas into practice many
of the people on this course are from
private sector backgrounds we've got 14
nationalities in the room so there's a
huge range of experience I'm from a UK
perspective and a public sector
perspective but there's a lot of
commonality in the challenges we face
we're all facing they need to find new
ways to do things to find new ways of
generating ideas and new ways to tackle
the challenges that the future is
bringing because the future is coming
really fast we've had time in the
classroom we've had time in smaller
groups with coaches and then we've had
time at completely outside the classroom
out in London seeing the cities thinking
about business and people in the city we
did some great work with the Royal
College of Art on design we were
introduced to design thinking and then
we had a chance to do it for ourselves
that was really good it was it wasn't
the usual sort of competition of ideas
it was people collaborating on a problem
and finding new ways to produce
solutions that really address the needs
of the people that were trying to serve
increasingly now in organisations and in
society leadership isn't about Authority
so I'm in a senior position but that's
not a reason why anybody would want to
follow me as a leader so this course has
given me some really good perspectives
or an authentic leadership and how you
can encourage people inspire people to
work together to achieve great results
you

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### Executing Strategy for Results: Programme Experience | London Business School
URL: https://www.youtube.com/watch?v=qyH10G1Aung

Transcrição não disponível

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### Leading businesses into the future | London Business School
URL: https://www.youtube.com/watch?v=PgcrCLW0ib8

Idioma: en

this program helps you become a better
leader because it helps you transition
to the type of leadership that's
required for the 21st century leadership
today is not about having all the
answers it's not about setting the
direction and having everyone follow me
Clea long behind it's about creating a
context in which others get excited
before the program starts at London
Business School you have the opportunity
through our diagnostic process to really
understand how far your organisation has
come in terms of preparing for the
future and indeed to think about your
own style once you come to London
Business School you have a brilliant
opportunity to spend a whole week
thinking about yourself thinking about
the organization and thinking about how
best you can create high-performing
meaningful company there's also a follow
up phase with coaches who will help you
think about how you're applying your
lessons to your own organization and a
personalized reading list what will you
gain from the program a deep insight
into how you think about the world and
how you think about complexity some
really great ideas about the future and
about the way the future is going to
impact on you some great thoughts about
how you build a context and a structure
that really engages and excites people
and a host of action points which will
significantly impact your capacity to
lead a complex organization there are
lots of programs today that focus on
leadership as a isolated entity and
there are others that teach you things
about organisations this program is
special because it combines the two
you'll learn about yourself as a leader
but you'll learn about it in the context
of your own organization and so the
intersection how your strengths play to
your organization's needs it's that
sweet spot that this pro
Grahame addresses
you

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### [Private video]
URL: https://www.youtube.com/watch?v=f6Q2CrD2rik

Transcrição não disponível

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