11 A JOURNAL OF COMMUNICATIONS AND CORPORATE RELATIONS ISSUE 11 2017 A NEW HOPE MILLENNIALS IN CHINA Brunswick Insight’s global survey finds Balancing tradition with modernity, these optimism for the future of business young people are reshaping commerce PLATINUM SOCIETY ONE FOR ALL hiroshi komiyama of Mitsubishi “Giving is good for business,” says Toms Research Institute on innovative aging founder blake mycoskie TRAINING FOR TOMORROW PLUS MISTY COPELAND AT&T’s Chief Learning Officer on how shares lessons on race and business the company is re-skilling its workforce from her triumphant dance career THE GENERATIONS ISSUE A JOURNEY THROUGH THE AGES, FROM BABY BOOMERS TO GEN Z Brunswick is an advisory firm specializing in critical issues and corporate relations To download and share Brunswick Review stories go to www.brunswickgroup.com/review You can follow us on Twitter @BrunswickReview Highlights from this and previous issues are also available on LinkedIn editor print production Carlton Wilkinson MerchantCantos art director printed by The Brunswick Review is printed on Frank Tagariello CPI Colour Redeem 100% Recycled, made using post-consumer waste deputy editor cover illustration fibers and manufactured without the Edward Stephens Nate Kitch use of any secondary bleaching project manager feedback Mallory Merge [email protected] Copyright © Brunswick Group LLP 2017 when we planned this edition of the Brunswick Review, we were in a pre- Brexit world and the US election was a distant prospect. Our goal was simple: to explore how the world looks through the eyes of different ages, genders and social groups everywhere. Since then, we have all become more SIR ALAN PARKER aware of the differences of opinion and great divides within our CHAIRMAN, societies – some are highly charged. These are not simply generational, BRUNSWICK GROUP but involve many complicating factors. Across the world, we are seeing a level of activism that challenges established institutions and political parties. Brunswick commissioned a study of more than 42,000 respondents in 26 countries. This research produces a number of fascinating insights. Across the developed world, we find the most connected generation ever is now increasingly disconnected from its government and traditional institutions. And they are looking for business to fill the void. The younger generation are not only more optimistic, they are pro-global and pro-business. Specifically, we asked, “Which institution is most effective at providing solutions to the major challenges facing your country?” Business is the first choice across all age and social groups, topping academic institutions, nonprofits, the military, religious institutions and government. We also asked, which from that list most represents “people like me”? With few exceptions, business came at the top of the list. In the US and Italy, government came last. The world is not just giving business a mandate to act, it is expecting it to. But to put it in consumer terms, if the category of business is very popular, the product of leadership is not. By a ratio of six to one, respondents think executives are paid too much; only 37 percent regard businesses as honest and trustworthy. While the young clearly see globalization as positive, they expect businesses to act as a force for good in a much broader context, beyond simply creating financial value. We have no doubt that the companies and business leaders that will survive and thrive in the future will be those that are clearly seen to recognize the problems faced by society, and walk toward them. Honest and open engagement with all audiences is critical. We believe that more than ever business leaders need to avoid spin or The world distractions. Our most forward-thinking clients are developing programs that advance bold and creative solutions to the big is not just challenges, and put their leadership back on the front foot. It requires giving business them to speak to financial, political and social audiences with one voice, and embrace the full power of digital communications and a mandate creative content. to act, it is I would like to thank the many extraordinary contributors to this expecting edition. I hope you enjoy it as much as I have, and that it inspires ILLUSTRATION: PETER FIELD PETER ILLUSTRATION: further discussion and debate. it to brunswick review · issue 11 · 2017 3 GUEST CONTRIBUTORS FOUNDER AND CHIEF SHOE GIVER, TOMS PAGE 12 Blake Mycoskie FOUNDER AND CEO, WORLDQUANT PAGE 24 Igor Tulchinsky CHIEF LEARNING OFFICER, AT&T PAGE 28 John Palmer CO-FOUNDER AND CEO, TRUE CAPITAL PAGE 32 Matt Truman SENIOR VICE PRESIDENT, VALUES-ALIGNED BUSINESS, ETSY PAGE 38 Heather Jassy CHAIRMAN, MITSUBISHI RESEARCH INSTITUTE PAGE 50 Hiroshi Komiyama DIRECTOR, LONDON DESIGN BIENNALE PAGE 54 Chris Turner CO-FOUNDER, MAVERICK COLLECTIVE PAGE 59 Kate Roberts GREAT-GRANDSON OF 27TH US PRESIDENT, FORMER CEO, RBC WEALTH MANAGEMENT, US PAGE 61 John Taft AUTHOR AND PROFESSOR EMERITUS, IMD PAGE 65 Joachim Schwass CEO, LONGCHAMP PAGE 71 Jean Cassegrain PRINCIPAL DANCER, AMERICAN BALLET THEATRE PAGE 74 Misty Copeland PRESIDENT, LIVESTRONG FOUNDATION PAGE 78 Greg Lee 4 brunswick review · issue 11 · 2017 GENERATIONS ISSUE 11 28 RE-SKILLING FOR THE FUTURE John Palmer, AT&T’s Chief Learning Officer, on training workers today to solve the problems of tomorrow INTRODUCTION GLOBAL GENERATION 7 Brunswick CEO Susan Gilchrist Millennials in China are agents 22 says generational differences are of change poised to reshape opportunities for engagement the global economy SOUTH AFRICAN PROTESTS FREE MARKET LESSONS 8 Those who fought to end apartheid Talent is equally distributed, but 24 are surprised by the frustration of opportunity is not, says WorldQuant the young “born-frees” founder Igor Tulchinsky INCOME INEQUALITY AUTOMATION CONVERSATION 11 While the gap between rich and As technology replaces workers 31 poor continues to grow, so does around the world, a dialogue is generational disparity difficult, but necessary INTERVIEW: BLAKE MYCOSKIE BRAND VALUE INVESTOR 12 Mission comes first, says the Matt Truman, Co-Founder and 32 founder of Millennial darling Toms CEO of True Capital, on building loyalty with young consumers GREAT EXPECTATIONS 17 A Brunswick Insight global study DIGITAL DIVIDE finds that young adults look ahead How to bridge the media chasm 34 with optimism between young and old MILLENNIAL – OR JUST YOUNG? EMPLOYEE ENGAGEMENT 21 OK, so they were born with Brunswick’s Christopher Hannegan 37 smartphones. But how different are says your team members deserve the younger generations, really? more nuanced consideration brunswick review · issue 11 · 2017 5 GENERATIONS ISSUE 11 INTERVIEW: HEATHER JASSY PLATINUM SOCIETY 38 The Etsy Senior Vice President Hiroshi Komiyama on aging and 50 prefers “business as unusual” the evolution of capitalism SERVING YOUR COUNTRY YESTERDAY’S TOMORROWS 41 Brunswick’s George Little sees London Design Biennale Director 54 more opportunities than ever for Chris Turner on society’s history of public service among the young inventing the future NO LAUGHING MATTER MORE THAN SIGNING CHECKS 42 A hit cartoon in the Middle East is Maverick Collective Co-Founder 59 getting youth excited about science Kate Roberts recognizes a growing and social service demand for hands-on philanthropy UPPING THE ANTE INTERVIEW: JOHN TAFT 46 The gaming industry’s bet to stay The former CEO of RBC US and a 61 relevant hinges on Millennials direct descendant of a US President discusses legacy and leadership TWEETS FROM THE HEART 49 The young’s willingness to share FAMILY BUSINESS SECTION their health data online could have Contributors look at the impact of 65 profound implications for science family enterprise around the world 73 WIDE ANGLE Stepping back from our main theme of generations, Brunswick Review examines topics of broad interest MISTY COPELAND 74 A prima ballerina, pop culture star and businesswoman speaks on diversity and the brand value of integrity HOW LIVESTRONG LIVED ON 78 President Greg Lee on how the cancer charity rebuilt its reputation after the disgrace of founder Lance Armstrong NEW MEDIA IS A REAL CONCERN 81 “Click bait” sites have the public’s attention – and they should have yours TIPS TO TAME CFIUS FEARS 83 When cross-border deals face governmental review, it’s important to get the communication right MOSAIC PRINCIPLE 84 Cultivating a rich life outside of work is an important component of success, says Brunswick’s Nick Lovegrove CRITICAL MOMENT 86 In the ‘60s and ‘70s, NASA photos of the Earth reshaped humanity’s views 74 of ourselves and our environment 6 brunswick review · issue 11 · 2017 INTRODUCTION differences between generations carry very real and important implications for how companies engage with their employees and customers. Cultural rifts between age groups can result in everything from mild misunderstandings to wild polarizations. In rare cases, they can even cause dramatic societal upheaval. • But articulating exactly what those differences are – and how broadly they are shared globally – remains a challenge. The attitudes and values of Millennials, Gen X-ers and Baby Boomers can vary enormously by country, with significant THE subdivisions within each – distinctions made even more complicated by rapidly changing technology. To effectively GENERATIONSreach all of these groups requires nuanced study and an SUSAN GILCHRIST equally detailed strategy. • This issue of the Brunswick CEO, Review builds on research we’ve undertaken to shed light ISSUE BRUNSWICK GROUP on all of these intricacies. Brunswick Insight’s global survey of more than 42,000 people across 26 countries reveals many of the gaps between and within generations and points to ways to build bridges. The articles here outline the most challenging problems those gaps pose for corporate leaders today, as described by those leaders themselves and by the men and women who advise them. • Perhaps most impressive is the level of optimism that emerges out of this discussion. Millennials are helping to drive a greater role for business in society and more companies are building social purpose into their business models.