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Tomorrow Marks the First World Risk Day

Tomorrow marks the very first World Risk Day, a collaboration among the world’s top risk management companies to bring awareness to the discipline and promote its purpose. “The topic is top of mind,” said Loren Padelford, executive vice president and GM for Active Risk, a supporter of World Risk Day. “There’s a need here to bring together industry experts and business leaders to talk about why risk management is valuable and how, done properly, it is a strategic advantage.

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World Risk Day is open to anyone who wants to learn how taking smarter risks can drive their business. The official website includes:

  • Virtual Summit: The centerpiece of the first annual World Risk Day, the virtual summit will bring together a unique program of global risk thought leaders who will share
  • Resource Center: Visitors can access reports and whitepapers on all aspects of risk management, from embedding a risk management culture to managing risk in government.
  • Blog: The World Risk Day blog offers commentary on the event and risk management issues in general and encourages readers to share their experiences and opinions.
  • Newsroom: Offers coverage of press releases, supporter announcements and media coverage.

Organizers have even grander plans for years ahead. “It is our goal that this becomes an annual event,” said Padleford.

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“We’d like to make it physical instead of solely virtual, eventually.

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12 Leadership Lessons from Jane Hertzmark Hudis

Jane Hertzmark Hudis

The focus of the annual Wharton Leadership Conference is, of course, leadership. And among the prestigious speakers at the day-long event was Jane Hertzmark Hudis, the global brand president of Estée Lauder, where she is responsible for overseeing the global growth of the flagship brand in more 135 countries and territories. Having worked her way up in the company over 27 years, she knows a thing or two about leadership. And this is what she shared with us:

  1. Listen — “In order to be a good leader, you have to be a good listener.”
  2. Vision — “It’s about focus — what to do and what not to do. Leonard Lauder always says, ‘If you can’t see the future, you will never get there.
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    ‘”

  3. Team — “Your team is everything and you need to have the right balance of people. Speed [in acquiring the right team] is not of the essence.”
  4. Hire people smarter than you — “Don’t be threatened. I want people who want my job. There’s no substitute for great talent.”
  5. We, not I — “Nobody does it alone.”
  6. Global empowerment — “We empower [other countries and cultures] to give us feedback.”
  7. Communication — “There is no substitute for personal, verbal communication.”
  8. Relationships are forever — “Develop relationships that matter. Everybody comes back to you. Treat people kindly.”
  9. An object in motion, stays in motion — “Once you get a business moving, you have a really good chance of success.”
  10. Be your own entrepreneur — “At the heart of any great organization is a bunch of great entrepreneurs.”
  11. Strategy is not for a lifetime — “You need to check in on it. We do it formally once a year. You have to be flexible.”
  12. Achievement — “Going beyond where you thought you could go.”

Yesterday, I wrote about other qualities that top CEOs said make for good leaders and I will continue sharing insights from the conference next week. Stay tuned.

Leadership Lessons From the Corner Office

Yesterday, at the 16th annual Wharton Leadership Conference, I was lucky enough to hear musings from Adam Bryant, senior editor for features at the New York Times, where he not only leads a team of reporters but also authors the popular “Corner Office” column in the Sunday business section and online — a recurring piece that he first began writing in 2009.

When he started interviewing leaders of the world’s largest, most successful organizations, he decided he wasn’t going to ask them simply about their business strategy. He began asking broad, open-ended questions about the most important leadership roles they’ve learned throughout their life.

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“We have to make sense of leadership for ourselves,” he said. “I started asking why some people get promoted over others time and time again. This is what separates leaders, from what I’ve learned, and I believe these qualitites are truly useful in any context.” They are:

  • Passionate curiosity — “A deep sense of engagement with the world, how things can be made to work better, these two words are greater than the sum of their parts”
  • Battle-hardened confidence — “Track record for tackling adversity, these people know things are going to come out fine”
  • Team smarts — “The organizational equivalent of street smarts, you know who to talk to to get things done”
  • A simple mindset — “Refers to the ability to take the ocean of data we all have at our fingertips and distill it down to the one, two or three things that are important”
  • Fearlessness — “Some CEOs take a lower-rung job to run a smaller division so they could learn more”

Bryant also discussed some unique interview questions that these CEOs at different companies adhere to, including:

Zappos: What is the biggest misperception that people have about you?
“I think the biggest one is that I’m pretty insanely competitive, but it turns out that that question is just the setup for the punch line, which is ‘what’s the difference between misperception and perception?

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Google: On a scale of 1-10, how weird are you?
We’re all weird to some degree. i like this question. it signals to job candidates that everybody’s weird and we want to bring that weird here — not too much, but some. if someone screams 12, you can move on.

ING Direct: There are five animals (rabbit, lion, cow, horse and monkey) and you’re about to go on a journey but you have to leave one behind. Which one do you chose?

“According to the test, each animal stands for something, and apparently this test tells you about the person you’re interviewing,” Bryant said. “I chose rabbit, and the guy I was interviewing for the column said that rabbit stands for love, meaning I’d be willing to work for three weeks straight and make it up to my family later on. My wife read it when it came out. And, well, it’s kind of hard to claim you were misquoted in your own article.”