Global Experience & Leadership
On Friday, November 21st, at the close of a dismal week on the NY Stock Exchange, the Market suddenly took a sharp turn upward. By the time it closed an hour later, it had shot up nearly 500 points! What happened to cause such a euphoric bounce?
It was leaked that President-elect Barack Obama was going to appoint Timothy Geithner as the incoming Treasury Secretary. Who is this man who created such a stir on the NYSE? We quickly learned that in addition to having been president of the Federal Reserve Bank of New York for the last five years, Geithner has a background in Asian studies, international economics, has studied Japanese and Chinese, and lived in East Africa, India, Thailand, China and Japan! He credited these global experiences as critical components of his background and skill base. Surprisingly, the media barely reported on Geithner’s global exposure.
Since little reference to these facts was made, we felt it was important to reinforce the crucial nature of global competencies and how they will continue to become leadership criteria in the 21st century. This lack of coverage is unfortunate, as Geithner’s experience fits in completely with what we’ve been discovering about the skills and background required for global leadership today, both in business and in government. Previously, we’ve commented about how Barack Obama’s multi-cultural background and experiences living abroad have added to his credentials and potential as a world leader. This also fits with a study RW³ conducted with ORC Worldwide, “The Importance of Cultural Skills for Global Business Leadership,” which confirms the importance of global experience in leadership.
Whether it is the banking or financial industry, the auto industry or government, we’re reminded everyday how a new kind of leadership is needed. In order to find that leadership we have to embrace diversity and recognize that skills for the 21st century will regard cultural plurality and will consider the ramifications of its ignorance.
The NYSE celebrated in that moment on November 21st because it is understood our economy is globally interdependent, which means that those who lead must have a global mindset. Unless you’re aware that people around the world think differently, are motivated differently and have values and beliefs that are unique, vital information will be overlooked and opportunities will be passed unknowingly. If one can’t see these clues, one can’t react to them. It seems that Geithner embodies these capacities and has attained the vision and perspective to spearhead the economic misfortune of our time. Learn more about him here.
Mike
