IN KICKING OFF THE SUMMIT, Dow Chemical’s Andrew Liveris shared an optimistic outlook in his keynote address to peer CEOs—and challenged them to take part in the U.S.’s manufacturing revolution. “Manufacturing is an innovation-centric activity, which should be an American advantage,” he pointed out. “The ability of this country—because of its values, its institutions and the Constitution itself—to encourage individuals to be the best they can be, entrepreneurial action and be able to pivot according to the world we face is one of America’s greatest attributes.” The country’s geopolitical stability relative to the rest of the globe also strengthens that edge.
At the same time, he cautioned, today’s U.S. businesses must navigate an entirely new kind of competitor in the form of state-owned enterprises. “This is a quintessential issue in our times,” warned Liveris. “They have subsidized capital, subsidized energy, subsidized labor and a single goal that has nothing to do with EVA: employing people. They have a very different business model than you.”
The rapid pace of change today coupled with competition from this emerging force means that if businesses are to survive they must continually find ways to add value. “You need to innovate faster than the enterprises from these nation states that are commoditizing you at the speed of live,” he said. “As manufacturers, the biggest issue we have [in achieving that] is in training a new, technically skilled work force.”
Coming to the Summit fresh from meeting with President Obama in Washington, Liveris added that some progress has been made on that front as part of the Advanced Manufacturing Partnership Steering Committee, on which he serves. “The critique of this Administration is hot and heavy, especially around things like healthcare, but you have to give this Administration credit for addressing the manufacturing revolution,” he said, pointing to the launch of five Institutes for Manufacturing Innovation where industry, academia and government partners co-invest and collaborate to nurture manufacturing innovation and accelerate commercialization. “These are national training centers that you can all contribute to, that will [enable us] to show high school kids and even younger generations that trades are noble professions, that not everyone needs to have a double Ph.D. in economics.”
CONCEPT: Three panelists weigh in on how best to nurture innovation and harness its power
GEORGE BARRETT, CEO, CARDINAL HEALTH
“We accomplish what we measure, there is great truth to that. We also accomplish what we recognize, what is reinforced, what becomes part of our mythology. At Cardinal, we never miss an opportunity to talk about an innovation, including what didn’t work. I would also tie diversity to innovation. You cannot get innovation in a highly charged environment when everyone talks sounds and looks the same. You need to find different types of people to populate your leadership team. “Finally, we, as leaders, have to give voice to the heretics. We all have those people who can drive you and other people crazy, but that is where a lot of that innovation comes from.”
BOB NARDELLI, CEO, XLR-8, SENIOR ADVISOR, CERBERUS CAPITAL
“You cannot overcommunicate. You may feel that you articulate your vision and your strategy to the point of nausea, but on any given day 3 percent or more of your people haven’t heard it before. “If you only have a $1 to spend, you want to spend 99 cents on people. My success is routed in the success, the strength and the collaboration of other people. “As painful as it is it is, it is always good to have a few internal activists who will challenge the status quo.”
BARRY ROWAN, CFO, COOL PLANET ENERGY SYSTEMS
“The thing that has spurred innovation for us is a deep conviction and shared passion that we have the chance to make a significant impact and change the world for good. The single most important thing we do is attract people of that ilk. We are in this together and linking arms. There is a tremendous foxhole bonding. Getting people who understand it, who live it and feel it in their bones is the most effective thing you can do.”
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
