Worldwide managing director
McKinsey & Co.
New York, New York
The future is about more than superfast computers, designer genes, and neural networks. Answering the life-altering questions posed by technology requires knowledge that goes beyond simplistic ideas about "progress." We need a more holistic intelligence -- not just knowledge, but wisdom.
Too often, what we learn in school prepares us for employment rather than for life. I see examples in my work every day -- people who do well at a certain kind of task, but who don't bring to their pursuits the values, as well as the richness of experience, that come from a broad-based education. At McKinsey, some of our best people are those who studied literature or the classics, and who later received business training. These people tend to understand the array of forces at work in organizations, and they approach decisions in a very well-rounded way. My advice to young people is to avoid the urge to focus too early. Learn to appreciate literature, history, and art. That kind of knowledge will help you in your career, and it will help you lead a richer life.
I do something at McKinsey that helps us to think in more well-rounded ways. Every six months, all 700 partners spend a week together. In my closing talk, I read poetry. At first, that took people by surprise. But over time, poetry has affected what we're doing. Poetry helps us reflect on the important questions: What is the purpose of our business? What are our values? Poetry helps us recognize that we face tough questions and that we seldom have perfect answers.
Rajat Gupta (rajat_gupta@mckinsey.com) joined McKinsey & Co.'s New York office in 1973. He has served as the firm's worldwide managing director since 1994.
Founder, chair, and CEO
Oxygen Media
New York, New York
Business today is about making decisions amid ambiguity. There is not a single day when I don't wish that I had more time and more information to make decisions. Usually, the higher the stakes, the greater the ambiguity. That's what is so daunting -- and so exciting.
It's funny. We get more information than ever, faster than ever -- yet we never have enough information, and we never get it fast enough. It's perfectly normal for me to be talking on the phone with one of my partners, even as I receive a fax from a reporter, read email from an investor, and get an instant message from my daughter.
Recently, we had an opportunity to acquire a Web site that was run by some very smart people. But the product was not complete, so our ability to test it was limited, and we had to give our answer in 72 hours. How do I make such a complex decision in such a short time frame? While I can't create more time, I can assemble a good team. Working with smart, trustworthy people is critical. I have to know about many things -- but I could never learn everything that I need to know about cable, or the Internet, or software, or even what makes people laugh. So I've gathered experts who help me make decisions in those areas.
In the case of that Web site, I relied on our marketing people to assess the site's value to consumers, on our technology experts to determine what the site could do, and on our finance people to check the dollars and cents. Then I paid attention to my gut. The bottom line: We passed on the deal, but we felt quite comfortable with our decision. Next!
Geraldine Laybourne (gerry@oxygen.com) ran Disney/ABC Cable Networks before leaving to found Oxygen Media, in May 1998. previously, she was president of Nickelodeon/Nick at Nite. In partnership with Oprah Winfrey's Harpo Entertainment and Carsey-Werner-Mandabach, Oxygen will launch a women's cable network early next year.
President and COO
America Online Inc.
Dulles, Virginia
My First piece of advice is to ignore conventional wisdom. Today, when it comes to building companies, if you want to win big, you have to think different. A case in point: "Music is meant to be heard, not seen." My colleagues and I heard that over and over as we were building MTV. Imagine if we had listened!
There is, however, one piece of popular wisdom that's worth listening to: Brands matter. Indeed, in the new world of business -- a world of overcapacity and sensory overload -- brands matter more than ever. Why? Because brands are a form of shorthand. Customers think about what matters to them, analyze their choices, and settle on a brand. Once they've done that analysis, they're very reluctant to do it again.
Email
Digg
StumbleUpon
Facebook
Buzz Up!
LinkedIn
