London Forum Highlights the Best of HBS
The 2005 HBS Global Leadership Forum in London proved to be a unique experience in ways that were planned — and even in some that were not — for nearly 600 alumni, faculty, and guests.
By day, alumni listened to and learned from outstanding HBS faculty, government officials, and global business leaders. Evenings were filled with events providing exclusive access to some of London’s top cultural attractions. Dean Kim B. Clark’s presentation, coming just six weeks before his departure to become the new president of Brigham Young University–Idaho (see story), was punctuated by an emotional standing ovation. And as timing would have it, the event convened in the midst of a brewing struggle over Europe’s direction, the subject of a thought-provoking plenary panel discussion.
Another surprise was London’s unusually hot weather, the subject of much press attention during the June 21–23 event, and the reason for many a loosened tie and rolled-up shirtsleeve.
The 2005 GLF was the culmination of nearly three years of planning, led by HBS professor Nancy Koehn as faculty chair. “We chose London because for so long it has been at the center of all kinds of currents — financial, political, cultural, aesthetic, and social,” Koehn said at the opening session. When it came to issues that matter, she continued, “We organized the conference not just with respect to possibilities, but with respect to key questions,” a duality reflected in the forum’s title: “New Barriers and New Opportunities: Leading in an Uncertain World.”
Alumni from 44 countries converged each day on the modern Queen Elizabeth II Convention Centre in the heart of the old city, just a stone’s throw from Big Ben, Parliament, and Westminster Abbey. Over two days, HBS faculty led nineteen breakout sessions highlighting their research. Faculty presenters were paired with one or more business executives and other experts who added insightful commentary to the topic under discussion. The presentations reflected the wide diversity of interests pursued by HBS faculty, and all may be viewed at http://video.hbs.edu/events/glf2005/.
Forum participants assembled in the QEII Centre’s large auditorium for plenary presentations featuring prominent leaders from Britain, the Conti-nent, and the United States. Koehn set the framework for what was to come with her opening presentation on “Leadership: Past, Present, and Future.” Other plenary speakers included Ann Moore (MBA ’78), chairman and CEO, Time Inc.; Sir Martin Sorrell (MBA ’68), chief executive, WPP Group plc, and GLF alumni chair; Antony Burgmans (AMP 101, 1987), chairman, Unilever, N.V.; and Sir Ronald Cohen (MBA ’69), then–executive chairman, Apax Partners Worldwide.
Moore described the lengths to which Time Inc. goes to probe for insights into the ever-changing mindset of consumers. The company conducts more than 1,000 research projects a year. But insights can come from unexpected places. A secretary who used her lunch break to compile a spreadsheet of People magazine sales discovered that newsstand purchases jumped 20 percent every time a bride appeared on the cover. That nugget of information led to the launch of a brides’ magazine and development of a separate business unit dealing with weddings. Said Moore: “This was a reminder that great ideas can come from anywhere — inside or outside, up or down an organization.”
Sorrell, whose firm places up to one-third of all the advertising seen around the world, addressed the challenges WPP Group faces in developing a global strategy. To date, he pointed out, “the world really hasn’t been globalized, it’s been Americanized.” If you wanted to build a global brand or service, you had to dominate the U.S. market, he explained. That is rapidly changing with the rise of multinationals in China, India, and even Korea. Accordingly, he expects WPP Group to grow significantly in Asia over the next decade.
As chairman of one of the world’s leading suppliers of food, household, and personal-care products, Burgmans addressed issues of corporate governance. If transparency is good for multinationals, why isn’t the same thinking applied to NGOs and hedge funds, he asked. “To whom are they accountable?” He also expressed concern that too much emphasis is placed on independent board members. “The more independent, the more ignorant,” he said. “Sector experts can be very helpful.” On the Continent, executive compensation is a big issue. Because “society in Europe doesn’t understand salaries that are over a million euros a year,” noted Burgmans, it’s often difficult to compete for talent in a global marketplace.
The forum opened Thursday morning with a plenary session featuring a trio of speakers addressing the European Union’s struggle to resolve deep divisions over its future. Moderated by London-born HBS professor John Quelch, the speakers were The Right Honorable Baroness Symons of Vernham Dean; Philip Lader, senior advisor, Morgan Stanley International, and non-executive chairman, WPP Group plc; and Mario Monti, president, Bocconi University, Milan.
Their insights were especially timely, coming as they did on the heels of a failed EU budget summit in Brussels and the French and Dutch “no” votes on the proposed EU constitution. For those in the audience not well-versed in European politics and economics, the panelists delivered a primer on the issues vexing Europe.
In his remarks to a plenary session, Dean Clark highlighted a number of ways in which the School is growing and changing to meet new challenges both at home and abroad. Among them, he cited initiatives dealing with corporate governance, life sciences and health care, and global research. (The School’s fifth global research center just opened in India.)
Addressing physical changes on campus, Dean Clark noted that the now-completed Baker Library renovation was “by far the biggest HBS construction project ever undertaken.”
He thanked the alumni audience for their support of the School and for the exemplary lives that they lead. “Your lives are the only book most people will ever read about HBS, and it’s a very readable book, indeed.”
While the academic program provided plenty of stimulating ideas, the GLF Planning Committee, chaired by Sherry Coutu (MBA ’93), ensured that evening social events showcased London’s rich history and culture. Guildhall, dating back to 1411, provided the backdrop for a reception on Tuesday. The next evening, The British Museum, with its stunning Egyptian collection, was the site of a reception and dinner. The final day culminated with dinner and a command performance by the English National Ballet Company of Tchaikovsky’s Romeo & Juliet at the Royal Albert Hall.
It seemed fitting that the last collective act of the alumni and guests gathered for the 2005 GLF was a thunderous round of applause. The forum, like the ballet performers, played to an appreciative audience.
— Roger Thompson
