Ideas That Inspired 8 Leading CEOs

In the Harvard Business Review November-December 2022 issue, eight current and former CEOs from among the world’s top companies shared their innovations and learnings throughout their careers.

The feature entitled “Eight Leading CEOs on the Ideas that Inspire Them” included the following CEOs:

Stéphane Bancel of Moderna said he plans the future “backward.” He envisioned the future in five or ten years and then “play the movie backward” to think of what has to happen to get there and then turn it into a reality. Moderna was a start-up that started from the bottom to one of the companies that developed an mRNA Covid-19 vaccine in less than a year. “We want to become the most impactful life-sciences company on the planet, and playing the movie backward will help us get there.”

Anish Sha of Mahindra, founder of the Mahindra Group in 1945, shared that the company has been committed to its guiding principles emphasizing doing business for the greater good. It continues to stick with its “Rise” or “Driving positive change, enabling people to rise” motto to highlight the importance of diversity and inclusion. “We live in an unequal world that divides us from one another. Purpose-led businesses have the potential to create a more equal world. Only when we enable others to rise will we rise.”

Roze Brewer of Walgreen Boots Alliance said listening is essential to good leadership and management. According to her, active listening helps identify problems to solve possibilities for innovation or policy changes, new product ideas, and ways to improve customer service. “As management scholars have written in HBR for at least a decade, leadership is a conversation. Active listening can be one of your most powerful tools.”

Nicolas Hieronimus of L’Oreal learned that globalization and supporting local initiatives propel the company forward. With the company found in 68 countries and employing 85,400 staff,  its teams on the ground accommodate local trends and issues allowing the brand to offer a full range of products in five categories – makeup, skincare, hair care, hair color, and male grooming. “As the world becomes even more volatile, uncertain, chaotic, and ambiguous (VUCA), not to mention fragmented, I remain convinced that our approach will give us the adaptability we need to continue to succeed. Whether you call it globalization or universalization, it can benefit any organization that strives to serve many markets.”

Joey Wat of Yum China, China’s largest restaurant company, is driven by continuous innovation. The company has expanded to more than a thousand stores in a year and launched more than 500 new and localized products each year. They also introduced new business services like deliveries and takeout in lower-tier cities. “Yum China has been operating for 35 years and has grown with a new generation of customers…thanks to a relentless focus on continuous innovation, we will keep exploring new ways to enhance customer and employee experience, deliver value and drive growth. Successful companies never rest on their laurels.”

Mo Ibrahim, the former CEO of Celtel, shared one of the major principles he learned from his African ancestors, the importance of caring for one’s neighbors. He strongly believes as an entrepreneur and CEO that everyone who helps him achieve success should share in the rewards. Employees were paid generously which resulted in deep loyalty to the company. “Today, I lead the Mo Ibrahim Foundation, which focuses on expanding good governance and principled leadership in Africa. My hope is that more companies on the continent and around the world will embrace the principles of inclusive capitalism.”

Ignacio Galán of Iberdrola stands by the ESG+F (environmental, social, and governance goals and metrics plus finance) principles and reporting, as well as the creation of the “social dividend” concept to create value for its stakeholders. The company emphasized its ESG reporting to shape corporate culture and as proof that it wants to be both sustainable and profitable. “It is no longer just a matter of compliance. It is about being an active participant in the societal transformation that communities are demanding from private and public organizations. Reporting is a vital tool in successful management – and it is absolutely essential in the fight against climate change.”

Indra Nooyi, the former CEO of Pepsico, maintained her vision of “Performance with Purpose” during her 12 years as CEO. The goal was to deliver the great financial returns it had, but with three additional imperatives: to nourish, to replenish the environment, and to cherish our people. The company produced more nutritious products, reduced water, and plastic usage, and attracted and managed the best talent. “‘Performance with Purpose’ wasn’t easy to implement and presented tough moments for me, including when one money manager exclaimed, ‘Who do you think you are? Mother Teresa?’ But skepticism faded when a collective mission took hold that included both the bottom line and much beyond. This was my hope from the start.”

Source: Philstar