Next Generation Women Leaders: Paris, May 22-24, 2014

SandrineIs your sister, cousin, daughter, niece or friend a university student or young graduate with up to six years’ work experience? Then suggest that she apply to Next Generation Women Leaders, a McKinsey workshop in Paris, May 22-24. The deadline for applications is March 23.

I haven’t seen the full program and speakers’ list yet, but I know from the NGWL Facebook page that participants will be able to meet the super-accomplished Sandrine Devillard (pictured; bio here) as well as other leaders within and outside the Firm. You can refer more participants here (and earn the chance to win an iPad Mini); on top of the event itself, there will also be a series of online follow-ups for applicants who did not get to go to Paris.

Workshops like this are a great way for women to develop their leadership profile. Remmber, the earlier you start thinking of yourself as a leader, the earlier you actually become one!

On Snowpiercer, post-apocalyptic tales, and cult movies

SnowpiercerAs a poet and politician named Dante Alighieri descends through the circles of Hell, ascends Purgatory and reaches the highest sphere of Heaven, so a rebel leader named Curtis Everett moves from the tail of the Train hosting the planet’s only human survivors to the Holy Locomotive that drives it in a looping route around a frozen Earth.

Dante starts out lost in his dark wood, hungry for knowledge and salvation, meets a large set of characters placed in the afterlife according to their actions and sins in life, and ends his journey with a vision of “the Love which moves the sun and the other stars”. Curtis starts out in the filthy windowless final carriage of the train where he has spent half his life, driven by hatred and revenge, and ends his journey in a luminous perpetual-motion engine meeting Wilford, the creator of the train and the dystopian society it hosts, a microcosm where everybody has their own place based on the price they were able to afford to pay to board the train and escape death.

snowpiercer-poster-chris-evansSnowpiercer is a 2013 South Korean movie directed by Bong Joon-ho, based on the French graphic novel Le Transperceneige, written in the early 1980s by Jacques Lob, Benjamin Legrand and Jean-Marc Rochette. Oppression, violence, food and water, addiction, clairvoyance, self-mutilation, class war, revolt: just when you think the story cannot cram one more ingredient into its plot, a new twist takes place – say, child abduction or cannibalism - and glues you to the screen.

You know I am a fan of end-of-civilization tales, but Snowpiercer stunned me. It has the guts to take a few hundred survivors of a man-made climactic catastrophe and to truly, really do away with them in a spectacular final train wreck. (And perhaps that is all good: who would want to live in what looks like Panem from the Hunger Games, sequentially crammed onto a high-speed train?) We are drawn to post-apocalyptic stories because they force our imagination to answer uncomfortable questions. What would I do in such extreme straits? Would I survive, maintain my dignity? Would I be able to defend my family, my friends? Would I rise to be a leader for them?

Cinematically and visually, this movie’s claustrophobic appeal recalls such classics as Brazil (1985), The Cook, the Thief, His Wife and Her Lover (1989), and Strange Days (1995). It rarely happens anymore, but after two hours in the movie theater, I came out feeling I wanted to watch it all over again. Snowpiercer is scheduled to be released in the United States on June 27, 2014. It will become a cult movie. Don’t miss it.

Italian politics: more fog

matteorenziTomorrow morning, barring surprises, Italian President Giorgio Napolitano will give Matteo Renzi, who has led the Democratic Party for the past two months, the task to form a new government.

Last year, I wrote that the government formed in the spring of 2013 – whose leader turned out to be Enrico Lettawould most likely have a minimal mandate, in view of its foreseeably short lifespan, and that electoral reform would be its centerpiece. I predicted, alas correctly, that fiscal reform, economic growth, and jobs, as crucial as they were, just seemed too big a mountain to climb in this political weather, and nothing much would happen there. But, as it turned out, we do not even have the much-awaited electoral reform; and while our Constitutional Court hacked away at some of the issues with the previous law, it has de facto reverted us to a proportional system that only the smaller parties really want, and that would merely perpetuate our current political stalemate if we were to vote under its rules.

It has been two years and three months since Silvio Berlusconi stopped being Prime Minister (and almost three months since he lost his Senate seat). While he was in charge, I held out hope that, once he had left power, many things would change; women would feel whole again; Italy would undergo a civic and creative Renaissance. But, in spite of valiant efforts by the capable Mr. Monti and the brave Mr. Letta, we feel like we only wasted more time. Good luck to the bold Mr. Renzi: he and his team will enjoy a very short honeymoon before they deliver – or disappoint.

Teaching children about money: the Poverty Week experiment

I caught up on Stanford Business magazine today. Let me share a quick story told in the Class Notes written by my classmate John D. Lee. He is a financial advisor, and may have a professional perspective on money that most of us lack. Yet, all of you readers can replicate the experiment with your families, if you wish.

In appreciation for all that we have (and just as an interesting experiment), we attempted to approximate what it would be like to live at the poverty level for one week. We confined ourselves to using one bedroom, one bathroom, and the kitchen as our entire family’s living quarters (though our dog, Nero, chose to ignore those rules). Except for when our jobs required it, we stopped using iPods/iPhones, the internet, and cable TV/TiVo. Our total food budget for the family was $108 for the week, and we made a donation to a local homeless shelter with the money we saved. While none of us particularly enjoyed the experience (and eating so much beans and rice), I thought it was good for our 9-year-old son, Archie, and we all came away more appreciative of our good fortune. Archie’s insight was that the thing he liked the least about the experience was the loss of freedom and choice. Truth!

Spain, women, and reproductive rights: a battleground, again

alberto-ruiz-gallardonIf we needed proof of how fragile and reversible our rights, women’s rights, are today, even in the West, we had it last Friday, when Spanish Justice Minister Alberto Ruiz-Gallardón put forth a draft law to set back abortion legislation by 25 years. You can read the details here, but if the law passes, you will only be able to get an abortion in Spain if you have been raped, or if your physical or mental health is at risk.

I am angry to see women’s rights as a political battleground, again; angry that governments seek consensus by legislating women’s bodies; angry that politicians think it is their God-given right to mandate that any woman should be forced to live through the confusion, pain and anger of an unwanted pregnancy, and not be able to choose the lesser pain, if not illegally.

Legislatures where women’s choices are so harshly limited should start introducing some restrictions on what men can do with their bodies, too. See the initiative by Ohio State Senator Nina Turner, who introduced a bill to require men who seek erectile dysfunction drug prescriptions to see a sex therapist, undergo cardiological tests, and receive counseling on the viability of celibacy as a lifestyle option (read more here and here). Says Sen. Turner:

The men in our lives, including members of the General Assembly, generously devote time to fundamental female reproductive issues—the least we can do is return the favor. It is crucial that we take the appropriate steps to shelter vulnerable men from the potential side effects of these drugs. When a man makes a crucial decision about his health and his body, he should be fully aware of the alternative options and the lifetime repercussions of that decision.

This is not irony, this is not tongue-in cheek: this is anger, fighting back through all available means. So let’s remember that we can take to the streets in protest, but we can also use Parliaments and bills and all the legislative apparatus to get lawmakers to understand why we’re so angry.

Freedom badgeAs Jane Smiley wrote after reading a hundred novels, “I saw that the world I thought was established and secure, at least in the West, is more fragile than I thought, because it is newer than I realized.”

We are not established and secure. Keep your guard up. Fight back.

In favor of wearing whatever the hell you want, part 3

We had our own Janet Yellen moment in Europe yesterday: the third swearing-in of Angela Merkel as Germany’s Chancellor. Just the same way as Yellen “Wore Same Dress Twice, Upsetting Local Idiot” (Jezebel), Merkel was criticized (picture below from the front page of Corriere della Sera) for wearing a very similar outfit to what she wore for previous ceremonies of the same type.

So what? They are smart and practical women. They standardize their looks because it saves them precious time, even if they become predictable. I am sure a lot of powerful men have favorite outfits too, and they don’t spend a lot of time worrying whether they’ve worn the same thing before.

Plus, Merkel has been photographed wearing quite different gear to the opera (see this post in case you don’t remember). So why, why can’t women yet wear whatever the hell they want?

Yellen-outfits

Merkel swearing-in outfit

 

What to look for in your next Chief Digital Officer

I am often asked to help people define what CEOs should look for in a candidate for the Chief Digital Officer position. My past eight years of digital experience have taught me that most companies tend to clearly see one or two sides of the job description and corresponding skill set, but cannot articulate in their entirety what should really be a multifaceted role – nor their expectations for impact or even outcome metrics.

Chief Digital Officer

This is my cocktail-napkin framework for the skills you should expect a Chief Digital Officer to bring to your company. A 2012 Russell Reynolds article listed part of them, but I believe this framework completes the scope of the role in important ways that were not originally covered; for more literature, see this McKinsey survey and this Forrester report (Forrester clients only). So, what does the CDO need to know how to do?

  • Online marketing, social media and digital PR. Most marketing and communication-focused companies, such as those in fast-moving consumer goods, are quite aware that the ways to drive brand awareness and engagement have shifted dramatically in the digital era; and that they need to move from traditional metrics, such as GRPs, to much more granular digital measurements. Market research, a cornerstone of many organizations’ plans, is largely shifting to online platforms, too; and digital listeners who can find the signal in the noise are in high demand. Yet, listening and communicating well in the digital domain are far from the only required capability; and what looks like the cutting edge today quickly becomes table stakes tomorrow.
  • E-commerce, digital distribution, multichannel. Retailers and manufacturers in many sectors are aggressively pursuing online sales: consumers are looking for your products online anyway, so hiding your head under the sand does not work, and in high-margin sectors such as premium and luxury goods a digital sales strategy is – at last – no longer shunned as damaging to the brand. Metrics here are about conversion, revenues and margins. The Chief Digital Officer will be the cross-channel integration champion in the organization, knowing when to push and where to stop: users will prize a seamless experience across a few channels much more than a complicated and fault-prone experience across many channels.
  • Online service and CRM. Customer expect you to be online, 24/7, to answer their questions, and no longer just at the other end of a toll-free number. What often starts as a marketing-focused corporate social media presence almost always needs to be complemented by strong online customer support capabilities; forward-looking banks, insurance companies and utilities are increasingly proving their worth in this arena. Here, the relevant metrics are customer service metrics; a digital customer operations mindset and expertise are needed, enabling in turn the generation of additional upselling and cross-selling opportunities.
  • Digital product and technology. The previous three quadrants extend what you are doing in the analog domain and can give you a competitive advantage: yet, it is only if you are able to reinvent your product into a profitable digital experience that you leave your competition in the dust. Media publishers, music and movies have struggled with the “profitable” part of the equation. Among successful examples, on the other hand, witness how Nike has positioned the Nike+ FuelBand at the center of a whole new Nike+ ecosysytem - remember, they used to make running shoes. A lesser-known but fine example of product redesign for the digital era is the new Getty Images watermark. From thermostats to cars, over the next few years all sorts of products and services will become very different from what we know today. If you’re not sure, go back and re-read Marc Andreessen on why software is eating the world. A good and easy-to-read guide to some of the disruptions is the recently published Age of Context by Scoble and Israel.

(Note that you can use this framework to get immediate clarity whenever a fuzzy digital project comes your way. Suppose, for example, that your team tells you “we ought to make a mobile app.” Is this a communication (or, worse, a vanity) app? a sales app? a service/CRM app? or an app that supplements, enhances, reinvents or revolutionizes your product or service? This way you can quickly define the right metrics and set your ambition levels.)

Underlying these four capabilities, your Chief Digital Officer should be able to foster a digital culture and nurture digital talents. Collaboration and knowledge sharing within the company must mean more than having an intranet, a digital suggestion box or even a prediction market: digital tools should foster your employees’ sense of community and belonging. Millennials thirst for transparency, openness and meritocracy; they will expect your company to be much more like an open-source-based software project and much less like the bureaucracy you grew up in. See this Gary Hamel talk if you’re not sure of what you should aim for.

In summary, a Chief Digital Officer is not just – as he or she is often portrayed to be – a good general management talent who has learned a few sexy digital marketers’ tricks. In my experience she will be much more impactful if she has a 360° vision of the future around her, not just of her product or industry; if she knows the front line well and has got her hands dirty with operations; and if she is unafraid to lead the evolution of the company’s culture.