"So many mistakes can be fixed. Not moving forward -- that would be the biggest mistake. That cannot be fixed."
-- Stacey Morrison, Editor in Chief, Redbook Magazine
Next Friday, March 23, BlogHer Business '07 will close with this keynote panel:
"How is the Ethos of the Social Media World Changing How We Conduct Business?"
In anticipation, I talked with each executive to find out how the ethos of social networking is changing (or not) how they conduct business, online and off....
While it would be a mistake for me to boil their nuanced comments down to "evolve or die," that phrase occurred to me as we talked about about success within their own organizations and their advice for the rest of us.
To win, each exec told me, companies must continue to change and to listen -- inside and out. The biggest risk, they agree, would be not to change. And to that end, the business each woman leads is evolving daily, before the customer's eyes.
The good news: Each executive heads a company or a product that is a leader in its space.
The challenge: Each executive leads a company where technological evolution constantly stretches business models to the breaking point, thanks to the new appetites of fast-moving, vocal consumers. And with the exception of Mayer and Google, I think each woman leads a brand that a traditional-media parent company is banking on for innovation and new revenue streams.
On Friday, we'll start the discussion with these five questions:
What else should I ask?
What would you add to these questions? I'd love to hear from you, especially if you won't be able to join us at BlogHer Business '07. If, however, you're still waiting to buy a ticket, be aware that registration closes at 11:59 p.m. Monday, March 19. Email me at lisa-at-blogher-dot-org if you'd like a $100 discount code.
Look forward to your questions!
Comments
Wonderful post, interesting
Wonderful post, interesting topic and panel. I'm already looking forward to your post on what will transpire!
I'd like to know how they go about finding new means of interacting with customers and how they can develop customer loyalty within a market that is rapidly evolving technologically. Do they find themselves spending more time innovating or reacting?
nelle
Innovating versus reacting
Nelle, this is a great question. I feel like I've seen both from each company -- but that's the view from outside. What may look reactive to the outside world may actually be innovative on the inside, and vice versa. Thank you!
Lisa Stone
BlogHer Co-founder
Surfette
I'm curious about workforce changes
Fascinating -- and thanks for the chance to plug in a question. It seems to me that all these changes would make companies more nimble in how they employ people, but I am not sure that is true. So I would ask:
Have you found that the changes in technology have also changed the shape of your workforce? For example, do you use consultants more often than before? How are you sourcing them? And is there a change in the amount of off-site (either work-from-home or offshore outsourced) workers you employ?
~~ Contributing Editor, Mata H. also blogs relentlessly at Time's Fool
Mata H, I'm curious too...
I expect each exec to talk about the value of adding diversity in terms of age, experience and interests to their teams.
Aside: My heart's been a little heavy on the subject of off-site opportunities for women since I read a piece in The Economist's annual report, The World in 2007. In "Work-life imbalance: Farewell to the flexibility fad," (p. 111) Lucy Kellaway of The Financial Times predicts that old ways of working are coming back, including long hours, strong hierarchy (rather than horizontal teams) and face time at the office. (UPDATED - Here's a PDF of the article, courtesy of Calpoly: http://www.csc.calpoly.edu/~jbergami/teaching/csc302.F06/articles/workLi...)
For women trying to have a life outside work, whether or not that includes caring for pets, aging parents, kids or self, thats not great news...
Lisa Stone
BlogHer Co-founder
Surfette
We never seem to learn from
We never seem to learn from the past. Every management course I've taken, along with associated writings, as well as my personal experience suggest micromanaging and inflexibility work only in the short term, most likely in high turnover environments.
Since women are more entrepreneurial than ever, guess we have a serious role to play in preventing such a trend from coming to be.
nelle
Agreed Nelle. And...
I'm not sure how her report dovetails with the data that a shrinking workforce will place qualified folks in a better negotiating position -- executives that is. I should emphasize -- and I think many of us already know this but I'm just saying it out loud -- that women who work minimum wage jobs have the least flexibility and the greatest need for it, given the lack of cost-efficient, qualified childcare and health care.
Lisa Stone
BlogHer Co-founder
Surfette
Absolutely. We will have to
Absolutely. We will have to take great care to see that there are improvements made, and backsliding prevented.
We have to enhance our commitment to education as a nation. We've seen a new budget proposal that cuts funding for adult reading programmes, which is ludicrous. We have to find a way to reform health care and deliver it to all in this country, and we have to find means of dealing with issues arising from pregnancy and parenting.
The UK and Canada provide wage support for new parents, whilst we had to pull teeth to get FMLA. I'm tired of cases where a woman is fired for being preggers, who must be denied UI benefits because she is ordered to bedrest and cannot work.
Yet we can think nothing of throwing half a trillion at a war.
nelle
Eeek!
That report sounds truly frightening - but I'd like to read it anyway. ;-) I'm having no luck searching for the article - could you give a date or any more information?
Thanks so much!
Eureka! I found a PDF of the article
Here: http://www.csc.calpoly.edu/~jbergami/teaching/csc302.F06/articles/workLi.... I'll also update my comment above.
For anyone who gets The Economist, it's in The World in 2007, p. 111. Unfortunately, the article's behind a firewall at www.economist.com.
Lisa Stone
BlogHer Co-founder
Surfette
Lisa...
Two things:
#1 As always, you rock! Thank you.
#2 What a perfect illustration this is of the dilemmas posed and opportunities offered as described in your questions above. Had I been able to easily search for, find and purchase a copy of this article I would have done so. Instead The Economist appears to be clinging to an all or nothing subscription model.
I no longer subscribe to print copies of any newspapers or magazines - information overload and clutter. If I can't find your information online I'll read someone else's. I'm looking forward to hearing how each of the women on the panel has dealt with innovating for consumers like me.
Glad to help!
:)
Lisa Stone
BlogHer Co-founder
Surfette
Word of mouth from the inside out
Great Questions Lisa, my question would be, does this change mean that companies are going to put more hiring emphasis on intangibles like integrity? (more profile testing) Or just make it upfront, common knowledge that once someone gets hired that they'll be put on a Google Watch list to see what they are saying about the company after hours and let the same social pressures help them play nice?
VERY interesting Mary Clare - what do you
recommend?
Seems to me there's a fundamental issue of trust and openness here, right?
In your experience, are companies making their policies clear about what they expect employees to say? And what do you mean by Google Watch list -- can you share what you've seen? And what would you recommend?
I expect Marissa Mayer especially to have some interesting things to share about working with employees on this front. For example, Google has developed such a strong bond of support-the-company confidentiality among its employees that I have *never* had anyone (other than Mayer and other execs on their corporate site) reveal exactly what they do OR talk about work. And I know a number of folks who work there.
Lisa Stone
BlogHer Co-founder
Surfette