CEO Summit

Last week I attended a fabulous event put on by Chief Executive Magazine in New York at the Stock Exchange. It was a meeting designed to help CEOs connect with their peers and discuss the issues relevant to their roles in business right now, in this financial and political environment. If you haven't attended one of their events in the past, I would highly recommend doing so in the future if you lead a business. Here are just a few highlights from the New York Conference, in no particular order:

Achieving Growth in a Low-Growth Enrironment

Bob Nardelli, CEO Cerberus Capital (former Chair and CEO at Chrysler and Home Depot)

  • Enhance the Core (drive innovation in core business)
  • Extend the Business
  • Expand the Market

Lynn Tilton, CEO Patriarch Partners

  • Break every business down to its variables
  • Companies that get left behind are those that don't innovate
  • Companies are just people--you have to have the right talent
  • Create a culture of innovation
  • Create a culture of appreciation
  • Do what's right; key quote: "Too often we're thinking about our business interests instead of what's right and wrong. Doing what's right will more often than not serve our long-term business interests."

Fred Hassan, Chairman Bausch & Lomb & Senior Partner, Warburg Pincus

  • Some companies get so good they forget to keep getting better
  • Look at your trust index; foundational customer question--"would you recommend this company?"

How to Grow When Markets Stall

Ram Charan, Author, Strategist, Former Professor at Harvard Business School

  • Put people before strategy--people need to know what's required to be done
  • Remain sensitive to customer--need to be connected to the ground floor of the person that buys your product or service
  • Work from the outside in, not inside out--look at the need that must be fulfilled and then work backwards at what needs to be done to fill it
  • Devote disproportionate management attention to differentiation
  • Remember to pay attention to the basics--look at external trends; remember that the consumer experience is the key differentiator

Next week, I will share some more. All for now.



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