Could you briefly describe your personal background and your professional background? First, we were very visible, doing as much walking around as possible. According to Forbes, she is consistently ranked among World's 100 Most Powerful Women. Not only do we have to learn the next leadership principle or the next management practice, but we also have to learn about technology and the younger generations. And as long as PepsiCo keeps doing well, people will be okay. Let’s take PepsiCo’s beverages. What were some of the actions that Pepsi took to manage a drop in demand? In 1980, Nooyi joined the Boston Consulting Group (BCG) as a strategy consultant, and then worked at Motorola as Vice President and Director of Corporate Strategy and Planning, followed by a stint at Asea Brown Boveri. CEOs have to become learning CEOs. All rights reserved. Let’s take PepsiCo’s beverages. Fourth, once we gave the line managers their agendas, we let them loose and said, “Go make it happen.” And the only time I got intrusive is when a business needed to be turned around. But the way people live east of the Middle East is vastly different from how they live in the rest of the world. We’ll come out of this okay.”, Second, we kept on trying to practice what I call realistic optimism. Let’s just focus a little bit more on the last 18 months. I went to consumers’ homes and visited with both younger and older people there, trying to understand how they live, what they think about products, and what we should be doing differently as a company. All qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, protected veteran status, or any other characteristic protected under federal, state or local law, where applicable, and those with criminal histories will be considered in a manner consistent with applicable state and local laws. This summer, I spent two weeks in China. BCG.com will work better for you if you enable JavaScript or switch to a JavaScript supported browser. The matrix looks at two dimensions: growth rate of the industry and market share. Are you spending more time with the external world now than you were before? This is an old notion, but we must take it to a whole new level. Unless you focus on purpose, you cannot deliver performance. In a recent speech, you talked about five ways in which the role of the CEO will change. As she pointed out in a recent interview, “The most important part of per-formance with purpose is the use of the word with. I’ve been at PepsiCo for 15 years and became chairman and CEO about three years ago. We launched a restructuring program in October 2008, and we made some fairly deep cuts to create some breathing room, because we wanted to keep reinvesting in the business through the downturn. The world has become much more complex, and the only way companies can function effectively is if we put ourselves in the shoes of lawmakers and nongovernmental organizations (NGOs), and they put themselves in our shoes. Longtime PepsiCo CEO Indra Nooyi will step down as the top executive at the world's second-largest food and beverage company. Could you describe this idea? It’s 24/7. Could you elaborate on those five characteristics? Third, you must be able to think globally and act locally. Being a CEO is not that much fun after all. The second element is environmental sustainability. When all her guests came in, they ignored me. Indra Nooyi, Former Chairman and CEO of PepsiCo. Second, you need to understand that public-private partnerships are critical for companies to be successful. You talked about public-private partnerships. As a Western company, we at PepsiCo have to make doubly sure that we don’t just export a model and say, “Give it some local colors or local flavors.” We actually have to tell our people, “Develop a model in your country that’s right for your country.”. And it unleashed emotions that were unbelievable, creating an emotional bond among the executives, their parents, and me. Excerpts follow. This is a very closely linked ecosystem. Related Expertise: Indra Nooyi. In August 2019 the Business Roundtable acknowledged that companies today operate in … We’re bigger than many countries. [Laughter.] We are likely entering a period of low growth. We can’t have an adversarial relationship. Could you briefly describe your personal background and your professional background? We increased R&D through the downturn. And the reason we’ll do okay is because of A, B, C, and D. And the good news is that we’re a consumer staple company, so we won’t be affected as much.”. The economy enabled us to hire great people and make investments with external companies at a much lower cost since there were fewer companies competing for those resources. We set the agenda very, very carefully. The notion of focusing only on short-term earnings is a thing of the past. I kept saying to our employees, “The economy’s bad, unemployment is going up, but we’ll do okay. © Boston Consulting Group 2020. It appears your browser does not support JavaScript or you have it disabled. The world has become much more complex, and the only way companies can function effectively is if we put ourselves in the shoes of lawmakers and nongovernmental organizations (NGOs), and they put themselves in our shoes. Nooyi herself spent two weeks in China last summer, making sure to get out of conference rooms and into the countryside and people’s homes. Nooyi herself spent two weeks in China last summer, making sure to get out of conference rooms and into the countryside and people’s homes. But I think it will take time for the rank and file to understand that international growth is a critical part of our future. Performance with purpose is what I’d like PepsiCo to stand for. Are you spending more time with the external world now than you were before? First, you have to focus on the long term. Third, we undertook brutal prioritization. We can develop hundreds of new products, and stores have enough space for them. Many companies take a global product and send it to Asia painted in a local color or given a local flavor. The civilizations are vastly different. In a recent speech, you talked about five ways in which the role of the CEO will change. You cannot just swoop like a seagull into and out of a country or a city. In periods of crisis, leaders can be tempted to take greater control and drive change from the top. How do we make sure that, as a company, we replenish the planet and leave the world a better place than it was when we began playing around with it? The chairman and chief executive officer of PepsiCo explains how tomorrow’s leaders must develop a personal understanding of the markets and cultures in China, India, and other emerging markets. My honest belief is that corporations are little republics in their own way. If you do not treat them right, people today will say, “Goodbye, we’re going to the next job.” The only way you can hold onto these employees is by hooking them emotionally to the company, through our business model and what we stand for. You talk about thinking globally and acting locally. Be realistic, but don’t project doom and gloom. To be able to manage these young kids who are coming to PepsiCo, we have to be able to think digitally and be able to manipulate all this new technology. This is an old notion, but we must take it to a whole new level. Today’s young people do not want to be wedded to a job like the people of my generation were. At the beginning of the year, we started with five priorities and we kept hammering on those priorities every quarter, in every town-hall meeting, in every interaction we had with the employees, and in every piece of communication. Historically, growth has been a very good motivator for people. © Boston Consulting Group 2020. And it unleashed emotions that were unbelievable, creating an emotional bond among the executives, their parents, and me. You talk about performance with purpose. Within PepsiCo, do you think that the importance of the global market is recognized? PepsiCo’s emphasis on environmental sustainability, for example, is more relevant than ever today, because going green can actually save money and, along with other acts of citizenship, attract and retain the talent needed to succeed in difficult times. We set the agenda very, very carefully. So the question is, How do you still give the consumer in India a choice? Early on, we realized that we were going to have a slowdown. Some of its notable alumni include Pepsi CEO Indra Nooyi, Israeli Prime Minister Benjamin Netanyahu, and … The findings of the position paper, prepared by Boston Consulting Group for the chamber, are part of interviews conducted with over 50 global thought leaders drawn from the industry, academia and policy makers. How can you stay true to the business you’re in while delivering choice in a completely different way—one that’s sensitive to the unique needs of a country? BCG.com will work better for you if you enable JavaScript or switch to a JavaScript supported browser. We have enormous influence in the world. This summer, I spent two weeks in China. How can we introduce lots of new products there? BCG was the pioneer in business strategy when it was founded in 1963. Look at PepsiCo. Indra K. Nooyi on Performance with Purpose. We actually thought this might be the right time to make some long-term bets. An Interview with the Chairman and CEO of PepsiCo. But I think it will take time for the rank and file to understand that international growth is a critical part of our future. She worked with Boston Consulting Group (BCG), Motorola and Asea Brown Boveri. Performance with purpose is what I’d like PepsiCo to stand for. I went to consumers’ homes and visited with both younger and older people there, trying to understand how they live, what they think about products, and what we should be doing differently as a company. Rishi said achieving the promise of spending two percent of GDP on R&D by 2017 will require a considerable jump from the current spend of approximately one percent. Indra Krishnamurthy Nooyi is an Indian-born American business executive. Leadership Development, Our market capitalization is almost $100 billion. They went to my mum and said to her, “You brought up such a good kid.” They complimented my mother and didn’t really focus on me. Indra Nooyi became PepsiCo's first female CEO in 2006, and she's also the company's first CEO who wasn't born in the US. BCG.com will work better for you if you enable JavaScript or switch to a JavaScript supported browser. Not only do we have to learn the next leadership principle or the next management practice, but we also have to learn about technology and the younger generations. We are likely entering a period of low growth. Too many companies have not done right by their shareholders by focusing strictly on the short term. CEOs have to become learning CEOs. That’s when I realized that I had not told the parents of the executives who do such an extraordinary job for PepsiCo that they themselves did a great job bringing up their children. We have a profound role to play in society, and we have to make sure that we are constructive members of society. If we do not become greener than we are today, young people are not going to come to work for us. To be able to manage these young kids who are coming to PepsiCo, we have to be able to think digitally and be able to manipulate all this new technology. So the question is, How do you still give the consumer in India a choice? The most important part of performance with purpose is the use of the word “with.” It’s performance with purpose, not performance and purpose, or performance or purpose. And unless you deliver performance, you can’t fund purpose. We have to make sure people understand that growth patterns will shift. In a conversation with Grant Freeland, senior partner and managing director of The Boston Consulting Group, Nooyi elaborates on her views about the changing nature of leadership. So by being visible and not hiding myself in my office, I was telling people, “Hey, things are okay. We need to think about the needs of a country and the way people live and behave in that country. Could you elaborate on those five characteristics? The Great Recession has only strengthened Nooyi’s belief that performance and purpose mutually reinforce each other. And unless you deliver performance, you can’t fund purpose. About three years ago, shortly after Indra K. Nooyi became chief executive officer, PepsiCo … Beginning her career in India, Nooyi held product manager positions at Johnson & Johnson and textile firm Mettur Beardsell. Although developed markets may not grow as fast as they have in the past, developing and emerging markets will grow faster. You talked about needing to be open to cultures and customs. Nooyi is one of the top female executives in the United States and is consistently ranked among the World's 100 Most Powerful Women. I kept saying to our employees, “The economy’s bad, unemployment is going up, but we’ll do okay. How do you find the time when you’re running a company the size of PepsiCo? The third element is talent. When I came back from India, I wrote to those parents and told them how much they contributed to the success of PepsiCo through the gift of their son or daughter. Greenwich Time. As you reflect on the last couple of years, what have you learned that surprised you? “I … Tous les candidats qualifiés recevront une considération pour un emploi sans égard à la race, la couleur, l'âge, la religion, le sexe, l'orientation sexuelle, l'identité / expression de genre, la nationalité, le statut d'ancien combattant protégé ou toute autre caractéristique protégée par la loi fédérale, étatique ou locale le cas échéant ; et ceux ayant des antécédents criminels seront considérés d'une manière conforme aux lois nationales et locales applicables. That’s the new reality. Among the senior leadership, it is. People think there are many, but in reality, there are few. 58K likes. We’ll come out of this okay.”, Second, we kept on trying to practice what I call realistic optimism. We have to make sure people understand that growth patterns will shift. When I was visiting India two years ago, I went to visit my mum, and she wanted me to dress up and sit with her as she entertained all her friends, neighbors, and second through fifth cousins, who were coming to visit. Then, you start traveling. I have to go back and explain to you the origins of performance with purpose to explain why it was untouched by the events of the last 18 months. Too many companies have not done right by their shareholders by focusing strictly on the short term. The notion of focusing only on short-term earnings is a thing of the past. The Great Recession has only strengthened Nooyi’s belief that performance and purpose mutually reinforce each other. As a Western company, we at PepsiCo have to make doubly sure that we don’t just export a model and say, “Give it some local colors or local flavors.” We actually have to tell our people, “Develop a model in your country that’s right for your country.”. People Strategy. I visited a school of traditional Chinese medicine to understand how the Chinese practice prevention and cure and how our products might play a role. I’d like that to be the way we do business. This is more than a job—it’s a calling. But the way people live east of the Middle East is vastly different from how they live in the rest of the world. Third, we undertook brutal prioritization. And in today’s environment, people still want to eat healthy foods. I based these observations on my wandering around the world and leading our company. Governments have gotten more intrusive. We can’t do it. Indra Nooyi is an Indian-born American business executive currently serving as the Chairperson and Chief Executive Officer of PepsiCo, one of the largest food and beverage businesses in the world. They’re challenging corporate governance issues in every which way, and the trust in companies is at an all-time low. I’d like that to be the way we do business. 62K likes. We did not want to cut back on all of our long-term investments. I visited a school of traditional Chinese medicine to understand how the Chinese practice prevention and cure and how our products might play a role. I am spending a lot of time with lawmakers, presidents, prime ministers, commerce ministers, health ministers, and NGOs. You talked about needing to be open to cultures and customs. Why did you do that and what did you learn? They speak different languages, and their religious backgrounds are different. How do you make that a reality at PepsiCo? If we do not transform our portfolio, we cannot sustain performance. But we cannot be guided purely by the earnings cycle, or we might end up adding costs to society. The way that the CEO projects himself or herself on the organization sets the mood for the company. First, you surround yourself with great people, who run the businesses. Nooyi credits her work at BCG, a notoriously rigorous job, as being an important stepping stone and a “formative experience” in her career. Then, you start traveling. Today’s young people do not want to be wedded to a job like the people of my generation were. How do we make sure that, as a company, we replenish the planet and leave the world a better place than it was when we began playing around with it? About three years ago, shortly after Indra K. Nooyi became chief executive officer, PepsiCo embarked on a corporate mission—“performance with purpose”—meant to marry financial success and social responsibility. Look at PepsiCo. We launched a restructuring program in October 2008, and we made some fairly deep cuts to create some breathing room, because we wanted to keep reinvesting in the business through the downturn. Aspiring CEOs have to understand that they are signing up for a lot more than CEOs did in the 1970s, 1980s, 1990s, and even four or five years ago. Read this post on Forbes >> THE END OF MANAGEMENT AS WE KNOW IT We also must give people the opportunity to work in international markets if they’re so inclined and have the capability. Indra Nooyi has her unique charisma; her story between Michael D. White, chief executive officer of PepsiCo International and vice chairman of PepsiCo, is very popular in the company. How do we make sure that people who work for PepsiCo are able not just to make a living but also to have a life? The economy enabled us to hire great people and make investments with external companies at a much lower cost since there were fewer companies competing for those resources. Third, you must be able to think globally and act locally. When I was visiting India two years ago, I went to visit my mum, and she wanted me to dress up and sit with her as she entertained all her friends, neighbors, and second through fifth cousins, who were coming to visit. Fourth, you must become much more open-minded. If Nooyi says that she has not changed her leadership style during the recent economic turmoil, it is mostly because she has believed for several years that tomorrow’s leaders must have fundamentally different skills from those required of executives in the past. Fifteen years ago Indra Nooyi, then the head of strategy (now the boss) at PepsiCo, was a demanding client for consultants, having been one herself at BCG… Purpose has three elements. So by being visible and not hiding myself in my office, I was telling people, “Hey, things are okay. And as long as PepsiCo keeps doing well, people will be okay. Western models cannot simply be applied to those markets because they differ culturally. Has the recession exacerbated that trend? Be realistic, but don’t project doom and gloom. And it’s no longer about dealing with the traditional cast of characters—your employees, customers, suppliers, investors. So this is a whole new environment, and the role of the CEO has forever changed. Leadership Development, I know that you have a life beyond PepsiCo, and I’m going to respect you for your entire life, not just treat you as Employee Number 4,567.”. We have a profound role to play in society, and we have to make sure that we are constructive members of society. Sadly, this book is just tumbles down. The second element is environmental sustainability. I know that you have a life beyond PepsiCo, and I’m going to respect you for your entire life, not just treat you as Employee Number 4,567.”. The third element is talent. First, you have to focus on the long term. INDRA NOOYI'S PASSIONS" PEOPLE, PERFORMANCE & PURPOSE AT PEPSICO AND BEYONS Former chairman & CEO of PepsiCo Indra Nooyi’s new book focuses on how to integrate work & family—and demonstrates why her leadership style continues to inspire. You wrote the parents of your 29 senior executives. Is that what happened in this situation? Read More. PepsiCo CEO and Chairman Indra Nooyi is the only Indian origin woman in Fortune's 51 Most Powerful Women list that is topped by Mary Barra, … Purpose has three elements. The civilizations are vastly different. Analysis of Several PepsiCo Brand Using a Boston Consulting Group Matrix Introduction The Boston Consulting Group matrix, also known as the BCG Matrix, divides brands and products into different categories based on their market performance. and values is more important than ever. In fact, I’d say that it was reinforced by the downturn. Fourth, once we gave the line managers their agendas, we let them loose and said, “Go make it happen.” And the only time I got intrusive is when a business needed to be turned around. How can we introduce lots of new products there? In the developed markets, we work with large stores. At the beginning of the year, we started with five priorities and we kept hammering on those priorities every quarter, in every town-hall meeting, in every interaction we had with the employees, and in every piece of communication. This is more than a job—it’s a calling. Fourth, you must become much more open-minded. If we do not become greener than we are today, young people are not going to come to work for us. They’re challenging corporate governance issues in every which way, and the trust in companies is at an all-time low. How do you make that a reality at PepsiCo? Related Expertise: Excerpts follow. I am married, have two kids, and am trying to juggle being a CEO, a mom, a wife, a daughter, and a daughter-in-law. We can’t do it. We can develop hundreds of new products, and stores have enough space for them. How do you find the time when you’re running a company the size of PepsiCo? How do we make sure that we provide products that range from treats to health foods and allow customers to make balanced, sensible choices? Let’s just focus a little bit more on the last 18 months. These include the ability to work closely with public officials and to exhibit emotional intelligence toward employees. Now let’s consider India, which has tiny stores. Indra Krishnamurthy Nooyi is an Indian-born American business executive. Half of humanity lives east of the Middle East. In a conversation with Grant Freeland, senior partner and managing director of The Boston Consulting Group, Nooyi elaborates on her views about the changing nature of leadership. 95 talking about this. We can’t have an adversarial relationship. Was performance with purpose challenged during this last 18 months as the economy worsened? Why did you do that and what did you learn? Indra Nooyi, chairman and CEO of PepsiCo, has spoken frequently of performance with purpose. About three years ago, shortly after Indra K. Nooyi became chief executive officer, PepsiCo embarked on a corporate mission—“performance with purpose”—meant to marry financial success and social responsibility. And it’s no longer about dealing with the traditional cast of characters—your employees, customers, suppliers, investors. In fact, I’d say that it was reinforced by the downturn. You wrote the parents of your 29 senior executives. Indra K. Nooyi on Performance with Purpose, Investisseurs principaux et capital-investissement, Industries de transformation et matériaux de construction, Transformation, redressement et restructuration, Diversité et intégration - Promouvoir la diversité sur le lieu de travail. S no longer about dealing with governments, with NGOs, and have... Fun after all a thing of the global market is recognized based these on. In reality, there are many, but we can develop hundreds of new products, people! 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