Hult Alumni Magazine | Page 37

+ World + Future You Why business schools need to go beyond business You need to learn about the World You need to learn about the Future You need to learn about Yourself Markets are more interconnected than ever before But business practices are defined by local culture Failure to navigate cultural differences often results in business failure 8.1 years is all it took for Uber to operate in 65 countries 1 100% of Japanese executives approach negotiations as win-win, whereas only 33% of Spaniards do .2 Change is happening faster than ever It’s technology that is driving this change 40% of U.S. jobs are estimated to be automated by 2030 4 6.8 years is how long it took WhatsApp to reach one billion active users. It took Windows 25.8 years 5 20 years is the average life span of an S&P 500 company, down from 60 years in 1950 6 Your mindset will determine your success Employers want people with strong behavioral skills Organizations need effective leaders #1 predictor of executive success is self-awareness 7 7 of the top 10 skills required by employers for graduate jobs are soft skills 8 58% of organizations say their top priority is closing leadership skill gaps 9 A lot of mergers fail due to cultural differences, 2007 saw the Daimler-Chrysler merger fail because of that 3 Failure to understand risks and opportunities results in businesses becoming obsolete 1. Neno Dynamix Inc: http://nenodynamix.com/strategic-and-commercial-approach-with-issues 2. Daimler https://www.daimIer.com/company/tradition/company-history/1995-2007.htmI 3. Uber https://www.uber.com/en-GB/newsroom/company-info 4. CNCB https://www.cnbc.com/2017/08/24/technology-killing-off-corporations-average-lifespan-of-company-under-20-years.html 5. Medium https://medium.com/biIlion-digital-buyers/billion-digital-buyers-ef57cf264ba1 6. PwC https://www.pwc.com/hu/hu/kiadvanyok/assets/pdf/impact_of_automation_on_jobs.pdf 7. Forbes https://www.forbes.com/sites/victorlipman/2013/11/18/all-successful-leaders... reporting on report from Green Peak Partners and Cornell University: http://greenpeak partners.com/ uploads/Green-Peak_Cornell-University-Study_What-predicts-success.pdf 8. Target Jobs https://targetjobs.co.uk/careers-advice/career-planning/273051-the-top-10-skiIls-thatll-get-you-a-job- when-you-graduate 9. DDI http://www.ddiworld.com/DDI/media/trend-research/state-of-leadership-development_tr_brandon-hall.pdf 37