NOTES from the 2008 BUZZ Summit:
March 18, 2008, The Island Hotel, Newport Beach California
Roundtable Summary by Dante Pirouz and Kristen San Jose
PANEL #1: Changing the Face of the Middle Class
"How will the emerging global middle class affect
our economies on the home front? What role are
women playing in creating the new middle class?
What are companies and institutions doing to create
or re-position their wares to meet this burgeoning
market and will entrepreneurship change the face
of middle class over the next 25 years?"
What are we talking about when we say “middle class?” How do we define it? During the industrial era it meant: Education equals life long employment, your children do better than you, retirement, steadily rising job prospects and pay, and stable family relationships. This is not the correct definition today.
The nation with the fastest growing and largest middle class is India. In fact, India’s middle class will soon be larger than the entire U.S. population. Recently Colin Powell offered the following advice to the presidential candidates: “Take a step back and look at the new powerhouses – China, India and Russia.”
A study by Accenture asked “How ready do managers feel they are to participate in the global economy?” It found that in terms of skill readiness managers in Brazil, India, South Africa and China felt more ready than those in first world economies like the U.S. Does this mean that these countries, which have previously been considered third world economies, are surpassing us? Not necessarily. In these countries the middle class may be “growing” without human rights, women’s rights, transparent banking or the institutions that built the middle class in the U.S. such as unions.
The definition of the middle class may not be the same in China and India. The defining feature of the middle class is consumption. Middle class is technically defined as earning $7000 or more but there are examples where that isn’t enough to qualify as middle class in the traditional sense.
Faking the middle class means anyone can buy the accoutrement of the middle class. For example, everyone around the world has a cell phone even if they don’t have a roof over their heads.
“Today we do not have a Middle Class, but a Consumer Class.” Products that were once considered luxuries are no longer commodities but needs.
A growing consumer class means that a growing number of people want more. For example, demand is growing in health care which was once governed by the elite, especially doctors. Today, more people look to the internet for healthcare information than physicians.
More than 1 billion people live in China and India and they are educating their children but are they educating them to be creative and with the ability to think? The middle class isn’t about higher education. A person could have a high school diploma and be in the middle class. But looking at the patterns in household formation in these emerging economies gives us an idea of what’s coming in the future:
- In China, there are 14 million more men than women due to infanticide
- Women can move into the middle class much more easily just by marrying well since they are in demand. They are a hot commodity.
- In the Middle East, men can’t afford to marry.
- In Japan, women aren’t getting married because they enjoy working and making money too much and they think Japanese men are dysfunctional.
Another example is education. The goal should be for every one of our children to fulfill their potential. Are we succeeding in the U.S.? No!! We have enormous inequities. There is trend toward resegregation in education which has resulted in apartheid schools in the U.S. The middle space has to be closed. No Child Left Behind is really leaving millions of children behind. It’s really more than smarts that are needed in the future. It will be not only about intelligence but about wisdom.
PANEL # 2: The “X” Leadership Factor
"With vast societal changes on the horizon, will
we begin to see a devolution of power? How will
leadership need to change to address challenges
predicted for the new century? What will be the
new model/s of effective leadership, and what
untapped qualities will be required to address
rapid-fire bursts of innovation? How do we prepare?"
The U.S. is on the brink of a generational change. 77 million will start to retire. The reign of the Baby Boomers is over.
The X Generation is different from other generations, and common characteristics of this group include: Living the “killer life” based on balance, growing-up latch key kids, mistrust for institutions, and an ability to embrace diversity.
How can you create an environment where Gen Xers thrive? Women have an advantage because they have a leadership style that is inclusive, family friendly and follows a set of core values.
Younger generations are rebelling against the old definitions of business success. This new generation doesn’t care about the square footage of their office or the number of office chairs they have. When people from the Boomer generation lose their jobs, they also tend to lose their identity. But Gen Xers understand the need for a work-life balance.
People now have the need to feel that what they do matters, that their values align with the company’s values. Companies have to create organizations where people continue to grow and learn. It is important to give them the tools to do that or else they will walk out to find it.
What will happen during this generational switch? The numbers just don’t work! As Boomers retire, the people who have learned all of the facets of the business over 25 or 30 years will be leaving. There aren’t enough Gen Xers to fill the positions. So Boomers are coming back, working entrepreneurially within the organization to fill the gap.
What influence do media have on Gen X and Y? On one hand it helps that generation see themselves as leaders….showing kids how to do what you love. But on the other hand the imagery is sometimes conflicting. For example, the media shows the woman CEO as either a villain or a vixen. We need to show that with leadership and money, you can do more, you can make your money work.
Gen Xers are looking to change every 3 years. They are continually looking at how to set themselves up for the next gig.
In order to change the old model to a new model, everything has to change. The old model was 4 or 5 levers controlled by a few. The new model breaks that into 10 to 20 levers controlled by many. Leadership is not top down. That doesn’t work. The new form of leadership is a group without 1 head.
“Learning how to listen and not course-correct at every turn.”
It’s the results that are important….(people) work different hours, work virtually. People are not always productive 9 to 5. Companies must understand the rhythm of productivity.
Gen Xers are more likely to “Think Globally, Act Globally.” Leadership for them comes in a different way -- from a bigger vision.
“Policy is the enemy of common sense.” The old way says “Let’s have a policy and follow it.” But you don’t need it. Just treat people with respect and let managers do what makes sense for their people.
The companies that will succeed are those that have “love marks” and have employees who are there because they love it. The big companies probably can’t do it and it’s hard for small companies because they don’t have the resources. The most innovative companies come out of nowhere because it’s easier to start from scratch.
“Reward failure because that’s were innovation is.”
PANEL #3: A Society Addicted
"Are we a society too addicted to “things”?
How do men and women react differently to stimuli
and withdrawal, from medication to Blackberrys?
Will our addictions and desire for customization
create a surge in micro-segmentation of the market,
and how will consumers react to needs unserved?
Could addiction to personal pleasure and convenience
change the face of the workforce?"
Addiction means a devotion to something. But what does it mean to be addicted to things? The brain likes to get what it is used to getting. If it gets used to gratification it will seek it out. If it is used to high levels of stimuli, when given low levels of stimuli it will have a hard time functioning.
The primary addiction people once faced was cigarettes… when a flight would land you would see passengers race for the smoking areas. Today people are addicted to cell phones… as soon as a plane comes into the terminal people are now turning on their phones to call someone.
Technology has changed the way we multitask and the way our brain performs. This adaptation has altered our ability to maintain focused attention and task efficiency. We are training children to be less attentive. We’re changing how the brain functions. But maybe the evolving brain likes multitasking.
Email apnea: the shallow breathing in anticipation of looking at email. As you hold your breath you go into a mental fight or flight mode. Most people are doing breath holding which is related to stress-related diseases. Improper breathing leads to imbalances and blood pressure goes up. The body has to adjust to this new normal. Ultimately it is important to breathe. Techniques like yoga, meditation and exercise can help.
As Thomas Friedman said, “We are living in the Age of Distraction”. We’re not living in an age of interactions but an age of distractions. How do you sell advertising in an age of divided attention? We don’t know if people are paying attention or not. How do you quantify how much attention people are giving? Since we can’t guarantee the results, companies are putting money not in ads but into immersive environments to entertain and “entertrain.”
Children and adults lack “free play.” Kids who don’t have free play are more likely to hit a brick wall and go berserk. We have to bring free play back to kids and corporations. Even adults need free play…"space-out" time.
“Digital Attention Deficiency Disorder”
Stress is addictive as well. There is always the fear of missing out…the fear of being disconnected.
“Leisure time is the seed of humanity.” Emphasis on efficiency by firms has removed creativity. Firms are doing everything opposite of fostering creativity.
There’s a big difference between people who think they manage their time versus people who think they manage their attention.
- Managing attention is about intention and emotion. Surgeons, artists, pilots tend to say they manage their attention.
- Office workers say they manage time and tend to say “I can’t do it” and “I’m overworked.”
You have to make a choice to manage your attention.
PANEL #4: Thirst for Intimacy
"As technology breaks boundaries and diminishes
"face time", how are we compensating
for loss of intimacy and what are companies doing
to imitate it in the workplace and at home? Will
our thirst for personal connection cause us to
innovate differently and will consumers demand
products and services that have more meaning?"
Three to four years ago the people who attended BUZZ stayed in the room in order to establish intimacy and friendships. Today we rush to connect with technology. We run out to get on our cell phones and Blackberries and as a result we now thirst for, are parched for intimacy.
Ten years ago we were chasing success in a linear model. But now, for example, my number one priority is my marriage. In order for this, I have to put my marriage first. I schedule intimate time.
How do we bring intimacy to the workplace? Bring in scheduled intimate time like a cocktail hour or a retreat. Turn the Blackberry off!
Does technology create intimacy with clients or interrupt it? Of course, customers are always right so we interact how they want to. Invest in all the different ways of communication. But the buying decision is emotional. 80% of business is with face to face communications.
Intimacy is also driven by trust. 60-70% of intimacy is non-verbal communication. Nuance is important to communication as well as humor. Touching is also important. We must establish trust first then we can move to using more technology.
Whether we’ve met the customer or shaken the hand makes a difference when dealing with problems. Firms that only buy via the website don’t rebuy in the 3rd year. We need to know why someone in Wichita buys differently from someone in Omaha. We spend a lot of money on customer service.
For the family, heavy travel makes intimacy very difficult even with children. Building healthy relationships with children means building trust and being attentive to their needs.
Media has an obligation to do good news stories – we’re all hungry for good news stories. Network news is doing more touchy, feely stories. We want to feel connected. There’s room for creating stories on TV and the internet that bring people together. For example, groups on the internet can connect on issues of how to care for aging parents.
Some are making the decision not to travel in order to stay with family and kids. Using the internet helps to do that. Women are also starting their own business in order to stay at home. It’s not “opting out,” it’s “opting in.”
“It’s all about timing. You can have it all just not all at the same time.”
In order to be intimate it has to be an exchange. People have to feel their contribution is being used. Listening is not enough. In a high-tech society, we need to be high touch. We need to have more time being in touch with our feelings. Companies are now taking their CEO’s through training on spirituality and the soul.
* * * * * * * * * * * * * * * * * * * * * * *
*
NOTES from the Third Annual BUZZ Summit held
on March 20, 2007:
ROUNDATBLE #1: Profit in Purpose
As companies look to bang the “do-good”
drum, is it enough to simply align with good causes,
or must they now practice what they proclaim?
As employees seek out companies that also walk
the “do-good” walk, what are companies
doing to compete for discriminating talent? How
do organizations serve Wall Street, their employees
and at the same time create meaning-rich connections
for their customers?
For companies to bang the “do good”
drum they must demonstrate baseline personal skills
and live those skills through the brand. It is
important for the company to live that integrity.
“We are seeing that the bifurcation between
the company and the individual is dissolving.”
Giving back to community must be integrated in
both personal and professional lives.
It is possible to fake good-doing, but corporations
can only fake it for so long. Rich communication
channels, like blogs, make it easy to expose those
companies that aren’t walking the do-good
walk.
Social Responsibility - “Balancing commercial
success while honoring personal values.”
Business Plans should integrate elements of social
responsibility to ensure adequate resources are
in place.
“It takes a lot of energy for companies
to balance their objectives with employees’
causes.” To win hearts and minds of younger
employees, who believe it’s all about them,
companies must state “You tell us what role
you want to play in our strategic alignment.”
With multiple masters to please (customers, board
members, vendors), how do you have time to build
equity while still appeasing demands from the
masters? At Microsoft, it took time. They first
participated in the community by giving anonymously.
Part of performance assessment is tied to community
leadership and serving as good citizens. One metric
used for measuring success is storytelling by
the community. “Management understands that
giving is important - that helps.”
Choose top 3 priorities and ask yourself how
you are going to serve those top priorities. “Develop
a different set of standards for different priority
groups.”
With the speed of technology, leaders are in
danger of losing personal relationships. To live
the integration of profit and purpose, need to
“take time to connect with people.”
Organizations that are meeting demands and aligning
profit and purpose interests:
In the past, the insurance industry behaved in
a reactionary way to negative issues of corporate
social responsibility in the press. Now industry
is focused on educating the uninsured and dealing
with the issues of health care, affordability
and access. “Finger pointing that used to
exist in the insurance industry doesn’t
exist anymore.”
Companies such as Google, Canadian Bank and Lulu
Lemon have utilized the interests of their employees
and consumers for their philanthropic duties.
It is important to frame the purpose to the market
and social needs of both the employees and consumers,
while upholding the personality of the firm.
Need to create a culture where employees are
proud. Create an open environment. Hewlett Packard
employees use company intranet to find co-workers
with similar volunteering interests in the community.
How to build a personal relationship in a hierarchal
structure? Leaders must communicate what’s
happening at lower levels. Creating open forums
takes energy and investment, but increases employee
satisfaction and retention. “Take time to
invest in communication.” The associate
population is valuable as they interact with customers
and are consumers themselves.
“Don’t separate profit and purpose;
integrate the two into typical business meetings.”
In a virtual workplace, how do you motivate employees
to get involved? If it’s that important
to company, they will need to create incentives
for employees. Use once a month conference calls
for employees to report their community volunteering
experience. Virtual employees can tutor students
overseas via email. Conduct consulting work Monday-Thursday
and use Friday to volunteer.
“Have the courage to cut out and prioritize.”
“Align what’s important to you and
your organization.”
ROUNDTABLE#2: Moving Target Morality
Is anyone telling the truth anymore?
Will morality be a moving target in the next decade
and change to fit individual need or convenience?
Are leaders selling their souls in our political,
public and private arenas? How do we decide whom
to trust? Does it matter anymore?
Is anyone telling the truth anymore? Is Wikipedia
our new Walter Cronkite?
Current events such as the Scooter Libby trial
are prime examples of holding scapegoats accountable.
Although the New York Times was an integral part
of the Scooter Libby story, the most worrisome
task was for the truth to be told to the readers
by the press. However, it seems as though the
press is less confident in holding people accountable
for their actions. Unlike, internet sites and
blog pages, the media must be certain in all they
report. Critics can write “anything”
without checking their sources.
Where do we find the truth? Truth may be in the
eye of the beholder, but while people like Scooter
Libby may take the fall for others, those like
Dick Cheney, who have the fall taken for them,
have been tainted by speculation.
Most people have a level of accountability that
they would like to be held to. Character is being
imputed on organizations. Employees are using
transparency and accountability as a deciding
factor for who they want to work with and for.
When asked if ethics is a moving target or black
and white: Ethics is about values. What changes
is how to interpret values in a particular situation.
Different perspectives come into play.
In the 1980’s women were actively recruited
in politics as people felt women had more integrity.
Gender differences in trust and politics haven’t
been evident since. For the most part women get
into politics for the right reasons. The United
Kingdom and other countries see America as behind
with having women in senior political roles.
What are the facts? In a news story this is a
“struggling shift” as everyone has
their own opinion. Times have changed in that
political analysts are being asked their opinions
on news shows. The attention span on politics
has decreased and people are seeking the opinions
of others to fill their own.
While news organizations are trying to meet their
numbers and trying to survive, they mustn’t
compromise the quality of their content. The anchors
that have closely covered stories like the Anna
Nicole Smith story have slowly lost their accountability.
There are few examples of nonprofit news organizations;
however, this most likely will not be seen on
any major scale as America just isn’t built
for this. The news and entertainment lines have
been blurred on a grand scale.
When asked what role the media plays to expose
“so-called” moral beings: “the
media has done a great service in exposing hypocrisy”.
Five years ago, such hypocrisy would not have
been uncovered. The younger generation seems to
have a cynical approach to the media. orporations
are recognizing this cynicism and ensuring that
importance lies in what you do rather than what
you say.
All in all, the media cannot be blamed for everything.
We too must be accountable and “be conscious
consumers of the media.”
ROUNDTABLE#3: Cultural Fluency
As the workforce changes its complexion,
what new biases are we struggling with? How can
we better manage employees of diverse cultures
so as to tap into their unique talents and voices?
If we don’t become culturally fluent, will
our organizations be at a competitive disadvantage?
How do we shift from cultural fuzziness to cultural
fluency?
Four Dimensions:
1. Business Imperative
2. Educational Development
3. Retention
4. Best Practices
Definitions of Cultural Fluency - diversity,
awareness, cultural influence, sensitivity, language,
involvement, values.
Business Imperative - ROI has a cultural definition.
Cultural understanding needed to navigate relationships,
politics, power struggles, and organizational
structure.
“Focus on digital media as this is where
the young people are. Youth has digital as well
as cultural fluency.”
Cultural Fluency as a bell curve: small population
that really gets it, for majority, words aren’t
connected to practice- this is where good leadership
comes into play.
“Create an organization filled with different
parts where their passion is to build a relationship
in a powerful and meaningful way.” Leaders
must be aware of others’ stories and enable
storytelling. “Knowing each other’s
stories is a bond.”
News Corp. built a mini model for the company
of cultural fluency with their European content.
Tapping into the talent pool to diversify the
cultural fluency was essential for the project
to succeed.
First step in building business in different
country is to “bring business model as it
exists today to other country.” Watch for
assumptions made in the United States that may
not apply in other countries. Workforce issues
that may be different in other countries include:
consumer behavior, training/development and benefits.
Struggle for LAUSD: Teaching children in ways
that crossover 86 different languages. Profit
for LAUSD is the potential for children to be
successful and to give employers what they are
looking for in a workforce.
Need to bring groups together to determine where
they lie on a cultural fluency continuum, from
cultural destructiveness to cultural proficiency.
“Challenge is to take what we believe and
putting time into connecting beliefs with actions.”
“Money, time, resources” must be
targeted in order to alleviate problems, such
as high drop-out rates.
“Can’t always understand other cultures,
but need to have respect for differences.”
“Maximize your employees’ strengths.
Recognize that not all will be Executive Directors,
but find a career path that works for them and
motivates them.”
Organizations typically look at Western model
ways of assessing leadership qualities. A business
meeting in Tokyo is characterized by silence in
between comments, while in the United States interruptions
and interjections are common.
Good leaders can gauge how people want to be
treated, gauge the usage of non-verbal cues, and
formulate meaningful relationships from natural
connections.
Commitment and intelligence can develop strategies
for improving public education. Need successful
people to teach children.
It is essential to develop cultural fluency priorities
as well as align time, money and people to priorities.
It is ok to “ask them” about cultural
differences, it’s the best way to open up
a genuine conversation on culture.
ROUNDTABLE #4: The Female Footprint
How are women in the public and private
sectors around the globe changing the ethos of
the world? Where and how will the female style
and mind-set redefine or impact communities across
the globe? Are there new opportunities to establish
a firmer female footprint in countries of lesser
means?
In contrasting the female footprint to the male
footprint: “the male footprint is larger
and its shoes only come in black or brown. The
female footprint zigzags and its shoes come in
all kinds of colors. Lastly, the female’s
footprint surrounds itself with other female footprints,
while the man’s footprint stands alone.”
The female footprint leaves a lasting impression.
Women are okay with ambiguity. They pick up subliminal
cues. Scientifically, women use both parts of
their brain, thinking more holistically than men.
The male’s brain is differentiated and specialized,
while a woman’s brain leaves a footprint
that is relational and inter-rational. Women’s
philosophy: “She who dies with the most
people at her funeral wins.”
Men and women have different orientations and
concerns. Men place importance on the economy
with three legs: communication systems, transportation,
and capital. Women place importance on society
with the three legs of education, health, and
ecological integrity. While we need all six concerns,
our past economies have only paid attention to
the men’s concerns.
The female footprint can be seen as a trace of
people who have been there before us. We shouldn’t
necessarily follow the same path, but we should
rather use them to inspire us to do courageous
things.
“Following a women’s footsteps, are
her children.”
Changing the workplace paradigm is essential
for women to succeed in the workplace. In a virtual
business world, we are able to multitask and able
to be more flexible. By changing labor laws and
the assumed definition of “productivity”,
mothers can better succeed in all aspects.
“It isn’t the hours you put in. It’s
what you put in the hours”.
The virtual business model may be difficult to
implement, but can adapt by dealing with situations
individually to accommodate all employees.
Women leaders tend to be different. It is important
to keep in mind smaller companies when exemplifying
success in women’s leadership.
There is an entire spectrum of women mentors.
Some have been jealous and guarded their area
from other women, while others have put themselves
out on the limb to help a fellow woman. However,
we should avoid being attached to one mentor,
and rather look all around for mentors.
There is a “mosaic of adaptive-ness”.
“When asked how do you get from A to B?
John will do his research. Mary on the other hand
will ask ‘Why B? Why not F?” We need
to change institutions that are outdated and don’t
fit anymore, instead of giving in to the protocol.
“Instead of asking to sit at the table,
we as women need to change the table”.
“The female footprint portrays the women’s
presence”.
“If you are not on the edge, you are taking
up too much space”.
******************************
NOTES from the 2006 Summit
February 28, 2006, The Balboa Bay Club, Newport Beach, California
10:00 am
Mudslinging on Main Street?
As the political and social climates heat up, how should we leverage, harness or curtail rancor in our public conversations and national discourse?
Moderator: Judge Glenda Hatchett
Panelists: Carol Reed, Sila M. Calderon, Cornelia (Connie) Pechmann, PhD, Judy B. Rosener, PhD
Things have not changed that much. In the days of Jefferson and Washington things were equally muddy. The medium has changed. Today, there are less filtering and editing. People can get information on the internet 24/7. The response time is quicker. “You have to tell your story in 10 seconds and people cannot have rational thoughts in 10 seconds.”
People in academia do not want to talk to the media. “They cannot express what they need to express in the allowable time.”
We need to understand the media and not be afraid of it. We need to use the new technology to deliver our message. We have more power today with our computer.
New media: Blogging, podcasting and personal publishing are where things are happening. “We have to learn to control it and participate.”
Mudslinging can happen to anyone. There is a need to prepare, not just react. “We need to think about the values that are important to us -- such as kindness, generosity, and compassion. At the end, these values determine the life that we live.”
Know who you are so that (your opponents) can’t throw you off center. If you do get caught in a situation here is what to do:
- never mention the person by name
- Never address their motives.
- Don’t let them pull you in…never attack the attackers.
But if you have to attack back:
- Do it quickly
- Go where it hurts
- Don’t speak of it again
(The television show Commander in Chief, with a female president, is preparing the way for the possibility of a female Presidential candidate.) Mudslinging against women will be different. It will go underground. There will be no frontal attack on TV. Women will not be able to trace where it is coming from.
There is a cultural difference for women in leadership in the U.S. compared to other countries. “In the U.S., to be a leader is to be male. Women are seen as helpers and nurturers. Nothing is going to change until we get out of this culture.”
“It is a Catch-22 for women. If you are feminine, you are not leader-like. If you are leader-like, you are not feminine.”
Women love consensus but politics does not have consensus.
There is a cultural difference in the U.S. Women are not treated as progressively in power as in the rest of the world. There have been many women presidents and prime ministers but not yet in the U.S. “This is the only country where women have no power politically and we have to change that.”
We have to be sure to demand something for the money we give.
The economic cost of mudslinging to corporations includes low morale and low productivity. It affects the bottom line.
There is a cost to the lack of civility. We are forced to focus on controversy. “In a corporation there are more controls in place than in the larger society because it is so costly to the firm.”
“For society, we are losing a tremendous sense of truth.”
“Where is the public outrage on lying?”
“The only thing that nobody says anything about is somebody that is doing nothing.”
“It takes twice the money to raise $1 from a woman than from a man.”
11:30 am
DIGITAL DELIVERY
How will our lives be revolutionized by the new and exciting forms of digital delivery: in entertainment, education, health, telecom and more?
Moderator: Anastasia D. Kelly
Panelists: Meera Kanhouwa, MD, Katie McDivitt, Paula Silver, Kathleen Conroy
There is a small population of people who are “gadget heads,” but companies have to provide a whole digital experience to cater to the entire population. The trend is not to just sell a consumer product, but to sell a complete digital experience. This requires corporations to coordinate different components.
Businesses have different capabilities to absorb technologies. In order to provide the ‘digital shopping experience,’ the process has to be simplified. “Amazon, through its one-click shopping, is a great example of simplifying the digital experience.”
Digital Delivery is transforming health care. Data access is in crisis: Patient data is spread across doctors, clinical labs, and insurance companies, and it is almost impossible for one person to have access to comprehensive data. A patient with a critical condition can walk into a doctor’s office, but various agencies have her medical information. The doctor cannot access the necessary information immediately. This leads to loss on cost, productivity, and even lives. “What is missing here? The answer is ‘Data Connectivity.’”
The technology required for this is trivial. Nationwide sharing of information is possible and it works. Singapore uses the Countrywide Clinical Exchange to share information; in Canada, patients, doctors and nurses are connected through Infoway. “The United States, on the other hand, will take a lot longer to reach there. Privacy laws make it difficult for us to adopt such a system.”
People care about privacy when they are healthy, but when a patient is sick, the desire for privacy is reduced and she will want everyone concerned to have the needed information. “Doctors will not use an information system if they think the information is not complete, and that patients may have held something back.”
Microsoft uses a common interface that allows doctors and nurses to use the same system. The future will allow online, real-time communication between doctors, nurses, and patients using Smartphones and PDAs.
“The need of the day is to turn data to information and make it available to health care professionals.”
The traditional way of delivering content is changing. Smart houses have entertainment in every room, and use technology to monitor what kids are watching. There may soon be smart phones in every wallet that allow (consumers) to swipe one card, and access all their data.
“We must be cognizant of what stories we are telling the future generation.” In the study, ‘See Jane,’ they found that G-rated movies are gender-biased. That is, in children’s movies the ratio of male to female is generally three to one. This is true even in apparently female-oriented movies like The Little Mermaid. “Peer-to-peer storytelling is going to be increasingly important.”
The biggest issue for entertainment is piracy and, “will continue till people are aware of the magnitude of the problem and how it affects the entertainment industry. The government must help corporations deal with this issue.”
Customers today have high expectations of right price, service, and products. “We have the technology to empower customers.” Companies like Cisco are working at virtualization of customer complaint services. All their resources are available through a common IP network, so irrespective of where the call comes from, the customer can immediately speak to whoever they need to. “This leads to greater customer loyalty and customer retention.”
“Customers want ‘one throat to choke.’ For example, a combination of services from Dell, Microsoft, and Comcast, provide a single digital experience. So, when something goes wrong, customers have difficulty determining who to contact. Companies have to look at their business model so that they can provide better service to consumers.”
Companies have to partner on an annuity basis, and work on who pays for what. The question facing companies today is, “How do I work with competitors who are now bedfellows.” The VHS-Beta VCR war is being played out again, with Sony bringing out Blue Ray and Toshiba bringing out HD-DVD.
On Government influence on businesses providing public information:
Example: Google did not allow the US government to see restricted consumer’s information, but puts up restrictions on its search engine services in China.
Cisco is fully compliant with government rules, but does try to influence policy. They help the government make smart policies to get connectivity out to the people. They do not change their product for any government.
Microsoft works with government to enable economic development. They believe in corporate citizenship and social responsibility. They provide education and healthcare in villages. Corporations have this responsibility because others cannot give back to the community on the same scale.
2:00 pm
Extreme Makeover: Healthcare in America
How can we begin to overhaul an overworked, out-of-balance healthcare system and create new opportunities for business and patients alike?
Moderator: Susan Bookheimer, PhD
Panelists: Susan Bryant, PhD, Christina Jones, Stephanie McClellan, MD, Maureen Spivak, Tiffany Tomasso
Healthcare is big business. The cost of healthcare in the US is $3 trillion, i.e., 16% of US GDP. “The law of supply and demand has no meaning in healthcare. The issue is not just statistics -- there are viable lives needing care.”
“(The) three main problem areas of healthcare: First, many hospitals are not-for-profit and they can grow only with issuance of bonds. Many times they go into more debt just to fund bricks and mortar. Second, it costs $750 million to bring a new drug to market and at the end of the day, pharmaceutical companies are for profit and are trying to meet shareholder expectations. Third, many service providers are all competing for money in a highly regulated market. Overall, healthcare is expensive because of the competing forces that need to make money.”
The greatest cost to healthcare is “not the cost of technology or the cost of the drugs or the cost of maintaining bricks and mortar, but the decrease in talent and human capital going into medicine.”
Malpractice suits and lawyers are still a concern for doctors, but third party payers are a bigger concern. “These third party payers are such a threat because they value technology over face to face.”
Nine million Americans over 75 years of age receive long term care (LTC). The majority (5 million) of that care is provided in the home. Of 4 million units of long term care, 50% are skilled nursing facilities. “50-60% of any group like the group attending BUZZ today is experiencing LTC issues within their family.”
There is no permanent financing for LTC from the government, “and don’t expect anytime soon.” Costs of LTC range from $75,000/year for nursing homes to $300/day for 24 hours/day home care. Costs are covered privately for the most part, but Medicare covers 20% for a maximum of 100 days in a nursing home. Medicaid covers the balance. “Insurance not really set up to pay for LTC; people pay using house values, home equity, and pensions.”
On Stem Cell Research: Stem Cell Research (SCR) takes a long time and is expensive. The research is not well-coordinated with governmental regulations. “It’s hard to predict when but SCR will yield new advancements.”
The end game is cellular therapy to replace cells in the body that have run out, for example islet cells in diabetes and cells with re-myelination properties for spinal cord injuries. These will be somatic cells that the body cannot reject.
“SCR has created an opportunity for a lot of people in this country. The race is back on.”
On Women’s Health: Females don’t have enough information about their health. “The content of conversations for our level of education is not happening. Females with advanced degrees think they can get pregnant with no problems after age 40. What we should know is that the egg is the primary driver of fertility and fertility actually peaks in the 20’s.”
In a study of childless “super-achiever” females over age 40, making over $100,000 a year, most of them declared that it was not their intention to be childless.
Fertility issues today are exacerbated by a decrease in male fertility. “Sperm count is consistently lower today as men are lazy, fat and don’t exercise. This all affects testosterone levels and ‘bad swimmers’ are seen more often.”
The amount workers spend for healthcare as a percentage of their income is huge. Many employees still cannot afford it, and instead they access care in the most expensive place (emergency rooms).
Healthcare is a big business where all players are intertwined, decreasing the size of the market and resulting in war between payers and providers.
Nationalized healthcare is a competitive disadvantage for the US. There’s a threat to the industry, similar to the auto industry in the US.
The days of universal care are over. “We need to concentrate on the basic level of care and regionalize care. Specialists are not needed in all hospitals. All hospitals should align to work on patient care as an outcome.”
Healthcare in the US is only ok; Singapore is better in miscroscopic surgery. “There’s no incentive to try to innovate care. The current system is only creating more gaps between served income classes.” Britain has a completely different healthcare system. “Healthcare should not be an issue around how much you make. There should be a serious discussion for nationalized care and we should look at these nations that have it.”
3:30 pm
CEO, Interrupted
When and where do women leaders pursue the next horizon and find
fulfillment beyond the corner office?
MODERATOR: Nancy Widmann
PANELISTS: Brendan Burnett-Stohner, Susan Cramm, Patty DeDominic,
Karen Neuburger, Patricia Stensrud
“I moved to Rome for a year. I started writing my book, I got involved with volunteer work, I began attending conferences like this one and I met many extraordinary women who are in different stages of their lives. Every time you pick a book, it tells you what you should do. We can learn from one another and we need to remember that the change is constant and we need to understand it.”
“According to my contract I was supposed to stay with the company for three years, but I decided to leave. It was a serious change. You need to have a clear set of expectations. Along the way I became closer to couple of non-profit boards where I got a different perspective from other industry leaders. I had a hobby of buying and selling historical properties. I thought that this can become a full-time thing.”
“M&A is a fact of life and there is a 15% CEO turnover. From that number 40-45% of turnover is due to company performance issues. With Sarbanes-Oxley, directors have new responsibilities and they can’t take it personally. My advice is to broaden your bases from where you get satisfaction.”
“During my career I transformed 7 to 8 times. . . Nice thing is I get to invent and do what I want. . . My board of advisers consisted of a very diverse group of individuals: African-Americans, South Asians, Hispanics, etc. Together we a built a database of 2000 people . . . Reinvent, try to stay positive and do a good job.”
“I learned to share not only wisdom and resources, but also money. There was a strong need for non-profits. I decided that no one was doing financial literacy and self-sufficiency. In 2003 I got together 90 women and every one of them gave 10K. We put $1 million to finance literacy and self-sufficiency and brought non-profits to us.
“I am an entrepreneur. Whether you work for the Company or you are an entrepreneur, whether you are a CEO or head of the company, make sure you know enough about each person you are working with. It requires more time, work and you absolutely have to push yourself to know enough to ask the right questions.”
“I live right now a life that matters. I work with people on a one-on-one basis, helping people be what they are. My first life interruption was when I learned that my husband had six months to live. Stop sign, one of those things…People don’t know their values. We work so hard, where is the life? Read the road signs before the stop...”
In regard to the interview process: Women are smart, listen well, ask good questions. They have a good sense of what the chemistry is, “because working for a company is like a marriage.” They are good researchers and they interview back. What they don’t do well is they don’t empower themselves. They will ask the question, ‘How long before I know that I am in power?’”
“Life Interrupted” is a big stop sign, but we don’t stop for longer than 3 seconds. It is not a permanent stop, but we all should take a pause, look around and decide where to go next.
When asked what support systems panelists have in place:
“I make sure I see my trainer three days a week, try to do cardio four days a week. You need to take care of yourself, make yourself a priority.”
“Networking with girlfriends is like going to church for me. I get inspiration. “
“Helping other women. That is important to me and it matters.”
“Woman who are involved with non-profit get opportunities. “
“You can’t negotiate if you can’t say ‘no’.”
“Some people have huge equity but they have no courage. When I create opportunities for women sometimes they don’t want to take them because they have no courage. “
“As powerful as you are, you need an exit strategy. Plan for it, think about it. “
“Cultivate your relationships with career research firms if you want to be taken seriously as a professional.”
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NOTES from the inaugural BUZZ summit
January 20, 2005
The Four Seasons Hotel
Newport Beach, California:
ROUNDTABLE: YOU SAY YOU WANT A REVOLUTION?
Do we have to blow up corporate America in order
to rebuild it? Should we completely re-design
compensation? How should corporate leadership
change to tap into the unmined talent and creativity
of our human capital?
Moderator: Ronna Lichtenberg
Panel Members: Judy B. Rosener, PhD, Linda
Stone, Mahvash Yazdi, Karen Wilhelm Buckley, Diane
Davies
SUMMARY:
• “A revolution is marked by a sudden
change – it’s dramatic versus an evolutionary
process.”
• “Since the industrial revolution,
productivity has increased fifty times. This is
still increasing exponentially. Is this evolution
or revolution?”
• “The question really is productivity
versus humanity. We now have the problem of continuous
partial attention. This type of not wanting to
miss anything brings us to taking ourselves to
imbalance. When was the last time you felt someone
pay full attention to you? This is bankrupting
to keeping talent in companies. This revolution
in technology has increased productivity; but
in and of itself we have to ask if that is a good
thing.”
• We need to start looking at business
from a horizontal perspective—looking to
the why and how we do things. Good has become
the enemy of the great. How do we use the revolutionary
changes in technology and productivity to make
the company more responsive? This is an evolutionary
process.
• We also need to ask the question of how
we become more responsive given the rate of information
we receive. We need to give attention to wisdom.
We need to pay more attention to making wise choices—those
that represent the deeper, bigger picture—and
here is where women can play a part. How are we
as wise women? What is the result of revolutions
in business, such as information technology and
the influx of women?
• Women want different things structurally
in corporations. Women want more flexibility.
How do we use this to attract in talent, particularly
when the majority of college and Master’s
degree candidates are now women?
• Revolutions do not come out of nowhere.
We are still seeing a revolution of women’s
roles in the workforce. Revolution can happen
both from within or from the top. We need to encourage
that it happens both ways.
• There are significant differences in
our daughters who are just a half-generation apart.
Women who are 18 have an entirely different world
view than those who are 35. Younger women are
seeing that they can bring their whole selves
to the workplace.
• We need to talk about changes in compensation.
We need to ask people what they want and bundle
compensation accordingly. Further, when you support
families in a company, you support women. Not
everyone wants money and we need to start offering
packages that reflect choice. Many women will
choose time over money. We need to talk about
meaning over money. Compensation can change behavior.
We also need to not be afraid to ask for what
we are worth.
• Where are the new opportunities for women,
post-revolutionary entrance to the workforce?
Things are still moving slowly as women strive
to enter into management. These are the same questions
we were talking about twenty years ago. Women
coming up need to feel the responsibility to continue
to pave the way—making the structural changes
and coalitions necessary to accomplish that. We
need to think about ways to extend both maternity
and paternity leave.
• Women CEOs vs. women as entrepreneurs—opting
in or opting out—to do it our own way. Both
are important. We need better models, beyond Desperate
Housewives. We need to show women who are opting
in.
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