We face a vital need to develop business leaders who are entrepreneurial, innovative, and can successfully integrate technology in an increasingly global economy. For many businesses, this imperative has become essential to sustaining a competitive advantage.
Training managers to be technologically savvy and globally aware is not enough. We must teach future leaders to efficiently integrate these critical issues to make the best business decisions. I believe this work is as pressing as attracting more U.S. students to science and technology.
By some accounts, the demand for managers who can effectively manage change already has surpassed the supply. In IBM’s recently released Global CEO Study 2006, two-thirds of CEOs indicated they were planning to make fundamental changes to their businesses. Less than half of them thought their organizations had handled such changes successfully in the past.
A recent Harvard Business Review article reports that, after two decades of corporate globalization, many organizations still struggle to find managers who are effective in the increasingly global business environment. Managers need to understand that cultural differences matter. They need to embrace innovative ideas and understand both the “hard” and “soft” sides of business.
Perhaps the biggest challenge is to develop business leaders who have the optimal mix of technical and people skills to change organizational cultures effectively. At the Robins School of Business, we strive to teach all our students, not only the fundamentals of business, but also how the convergence of globalization, technology and innovation is changing the world.
We are fortunate to have a wealth of intellectual diversity among our students and professors, who have come to Richmond from throughout the nation and the world. With nearly half of our business students studying abroad, we are benefiting from richer classroom discussions as they return with new ideas and perspectives. Our goal is to teach them how to use this broad perspective to make the best business decisions. We also must help them hone the skills they will need to implement change effectively.
To achieve these objectives, we are planning a new addition to the Robins School building. The addition will provide flexible learning space that will foster collaboration, encourage innovation and build a broader sense of community.
Although my professional background has revolved around the so-called “hard skills,” I always have believed that “soft skills” are equally important. It is all about people. That is the bottom line.
Many of us take for granted what this country and this system of capitalism offer us—the opportunity to serve others by creating profitable organizations that can exist only by providing high-quality products and services at competitive prices. I have devoted much of my life to those principles. They are engrained in the Robins School, and that is one of the primary reasons why I am thrilled to be here.
It is all about people. By embracing technology and change and by adapting across cultures, we can make a positive difference throughout society. That is our ultimate goal at the Robins School of Business, and that is what I challenge you to strive for in your organizations.
By leading the way through the intersection of innovation, globalization and technology, we will create a better quality of life, not only in our backyard, but around the world.
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