First Friday Book Synopsis

"…like CliffNotes on steroids…"

Passing the Baton – One Woman at a Time

Cheryl offers: October’s HBR article “Why Succession Shouldn’t Be a Horse Race” describes how Xerox’s former CEO Anne Mulcahy successfully identified, developed and eventually passed the CEO baton to Ursula Burns, the first African American woman to lead a Fortune 500 company while also marking the first ever woman-to-woman succession. What was most interesting was how Anne deliberately worked to avoid Jack Welch’s famous departure when two of the three top candidates left with him once they learned Jeff Immelt had gotten the job. She said “I don’t believe in having people face off against each other for the CEO job in a classic horse race.” Kudos to her on two fronts: first for recognizing that losing valuable talent in this day and age is not good business and secondly for seeing collaboration is better for the business than competition when putting the best person in the job. GE lost 3 very talented employees when Jack left. Anne managed to retain her 3 top contenders after Ursula was named CEO, although one has since retired.  This article reinforced a message I read in Women and Leadership by Barbara Kellerman and Deborah Rhode.  In chapter 9 written by Marie C. Wilson, she notes “We need to fuel each other’s ambition, to give women the encouragement they need, and the courage embedded in that word. With our help, they can and will step forward and say, “I’m here. I can do this, and I want to lead.” This was written in 2007, just about the time Anne and Ursula were starting to write business history.  Those who support the laws of natural attraction would say, “Of course!”

Monday, September 27, 2010 Posted by | Cheryl's blog entries | , , , , , , , , , , | Leave a comment

Interview: Ursula Burns (Xerox)

Ursula Burns

Here is an excerpt from Geoff Colvin’s interview of Ursula Burns that appears in the May 3, 2010, issue of Fortune magazine. Burns has been CEO of Xerox since last July and will succeed former CEO Anne Mulcahy as chairman this May. She is the first African-American woman to run a Fortune 500 company. Colvin is a senior editor at large and the author of several books, including Talent Is Overrated: What Really Separates World-Class Performers From Everybody Else.

Here is a link to the complete interview:

Colvin: In a nonstop infotech revolution, Xerox’s long-term strategy is a really interesting issue. So let me ask you Peter Drucker’s famous question: What business are you in?

Burns: We’re in the business of enabling our clients to focus on their real business while we take care of their document-intensive business processes behind the scenes. I’ll use Fortune as an example. You’re not in the business of printing a magazine. What we see about Fortune is the printed magazine.

Geoff Colvin

Colvin: That’s right — we don’t own any printing presses.

Burns: But without someone who could supply you with that solution, Fortune would be less than it could be. What we do is manage document-intensive business processes for our clients around the world so that they can focus on what they really do.

We do that by applying technology. We do it in a global way, so that if you have locations around the world and you want to communicate with your people in a fairly consistent way, I can do that for you. It will look the same, feel the same, be delivered in the same time and the same format. All the information you want present will be there; anything you want redacted will be gone. You shouldn’t have to worry about that.

Colvin: That leads to the deal you recently closed: your acquisition of Affiliated Computer Services. Wall Street initially didn’t like it. What did you find so compelling?

Burns: It was all about extending our capabilities, expanding our reach. Xerox is a technology company that’s global and has an amazing brand. ACS is a business-process outsourcing company that knows business processes and how to manage them to be significantly more efficient. Business processes are all around documents, containers of information.

Colvin: So a document doesn’t have to be a piece of paper.

Very often it’s not. At the end phase, many documents end up on paper. But in the beginning they are digital files, photographic images, phone calls, voice data. All of that is key to having a business process work.

Xerox is really good at managing documents, and we’re definitely good at managing through a process. So what’s close to our core that we’re really great at, that we can extend by utilizing the things we have that are differentiators — technology, brand, global reach?

Business process was what we settled on. In ACS we saw a great company that was already diversified. It needed a brand. It needed technology to make this work more efficient, more automated. And it needed global reach. And we have all three.

* * *

Here is a link to the complete interview:

Wednesday, April 28, 2010 Posted by | Bob's blog entries | , , , , , , , , | Leave a comment

Past time to retire, Jack Welch

Cheryl’s view: It seems Jack Welch should play more golf and resist the temptation of making speeches. On July 21 the Wall Street Journal reported he delivered what I’m sure he thought was “straight talk” like he thinks he did in his book, Straight from the Gut. He told a convention of HR executives women had to choose between raising a family and having the corner office. Which rock have you been hiding under Jack? Maybe he forgot that last year’s CEO of the year as elected by peer CEOs, was Anne Mulcahy, CEO of Xerox, and mother of two sons. And I supposed he also hasn’t noticed Mulcahy passed the reins to the first Afro-American woman to lead an S&P 100 company, Ursula Burns, and (Oh, gasp Jack!) also happens to have a daughter and stepson.  When Jack Welch entered the workforce and even possibly when he led General Electric, this might have been a “norm”, possibly his own stereotype at work. This is no longer the case.  Jack might also want to start reading the stats on graduating MBAs; women in 2009 will surpass men in all categories: associate, bachelor, graduate and professional. By the way, the gap between men and women has been widening since 1982, the last year men exceeded women in acquiring degrees, in college degrees and is projected to continue until 2017, which is only as far as the projection goes. So, where will the most talented, experienced, and well educated people in the company come from, the future CEOs? My money is on the next generation of women, who, by the way, believe the wisdom of his other book’s title “Control Your Own Destiny, or Someone Else Will.” Thanks for the advice, Jack, now go play golf.

Sara adds:  Jack, in the words of James Copeland, former Chairman and CEO of Deloitte & Touche worldwide in True Leaders (Bette Price and George Ritchesche),  “Don’t breath your own exhaust.”    Your pronouncement in the Journal is contemptible (a carefully chosen word from Merriam Webster’s online dictionary…  “contemptible may imply any quality provoking scorn or a low standing in any scale of value.” The italics are mine).  I believe your comments to be contemptible; having a low standing in any scale of value on a couple of levels.  First level, you single out women leaders.  Besides being transparently biased your idea begs the question, why shouldn’t ALL leaders, men and women, have the opportunity to have a life as well as incredibly successful careers?   Then there’s the next level.  It’s about BUSINESS RESULTS, Jack, not about appearances or sacrifice.  By even uttering that comment I wonder if you’ve lost focus on the prize here.   Jack, you should read  a new Harvard Business Review (HBR) article, Social Intelligence and the Biology of Leadership (Richard Boyatzis and Daniel Goleman).  It stands your antiquated version of leadership on its ear.  In the article you will read about the negative impact a leader’s stressed lifestyle has on the success of the company they lead.  The authors also provide a pathway to leadership that is healthy, balanced and produces great (get that, Jack, GREAT)  business results.  I wonder what heights GE could have climbed if YOU had been a different kind of leader.

Friday, July 24, 2009 Posted by | Cheryl's blog entries | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment



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