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Hubert Joly

lines on the record: 62
first: 2021-09-24
most recent: 2021-09-24
sittings or episodes: 1
sources: podcast

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“Yeah, Barry. So I've worked in a public company Best Buy. I've worked in a family-owned company, which was calcium company. I've worked in a partially private equity-owned company, Calcium, if I only travel one equity partners of JPMorgan with a 45% shareholder. And frankly, I think it's pretty much all the same. You know, you have shareholders, whether they are large entities like Vedity or Wellington, or it's a private equity player or it's a family, they have expectations and needs. And by the way, all of them are human beings, right, by the West, and I focus on the high-intensity.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Recently it's been between 110 and 120. So time stand in nine years, that's not bad. Maybe you could have done better, Barry, but it's okay eventually. I don't think”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“And so then he had practical implications around this. When you do your monthly review with your team, start with people and organizations. Don't start with financial results. If you start with financial results, you're going to spend your entire time on financials, and you want to understand what's driving these results. Whereas if you start with people and organizations, you'll have a chance to spend time on that, then business, customers, products, and then your CFO will make sure that you'll spend enough time on the financial results. And treating profit as an outcome was a big driver of performance. And this is not, I've not smoked anything illegal when I said this, Barry. As you know, the shepherd. Of Best Buy went from being a low with $11.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Is not to make money. It's an outcome. In business, you have three imperatives. You have people imperative. You need to have the right teams. You have a business imperative. You need to have customers or clients and great products and services. And then there's a financial imperative. And of course, you have to understand that excellence on the financial imperatives is the result of excellence on the business imperative, which itself is the result of excellence on the people imperative. So it's people, business, finance, and finance is an outcome. And by the way, it's not the ultimate goal. Because if you think about a company as a human organization, a bunch of people working together, they're probably in there to create something in the world, right? And we can dig into this, but that was 30 years before the BRT statement of 2019 that we celebrated in August, the second anniversary.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so for me, there were two phases Barry at McKinsey. Before the partnership and then the partnership. So in my first, let's say, six years as an associate and then a manager, I learned a lot about problem solving, communications, certain functional matters, and so forth. So you could say I learned a bunch of technical skills. But when I became a partner, the opportunity I got was sit down next to the CEO of the client, watch them do their thing and listen and learn from them. I got a great deal, right? Because they were paying us and I was learning from them, right? Couldn't get a better deal than that. I will always remember there was a client, you know, Jean-Marie Descartes was the CEO of a computer company Hon ⁇ we. And this is the guy who told me that the purpose of the company.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“It was the first time I worked with Marshall. And then, based on what you've said, I've been saying to work on three things. Number one, number two, number three. And I'm going to follow up with each of you to ask you for advice on how I can get better at these three things. And then a few months from now, I'll follow up to see how I'm doing. Now, believe me, Barry, first time I did this, this was excruciating pain, having to admit to my team that I was not perfect. They knew it. They knew I was not perfect. But having to say it out loud is that I wanted to get better at something. And then so later on when I joined Best Buy, I repeated that, signaling to every one of the executives that it was okay to want to get better at something. And so later on, everybody at Best Buy had a coach and we were all helping out each other on getting better at our job, which is what I think you need to do.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Same is true for all of the NFL teams, all of the champions league teams. What about us executives? And so it's interesting that now for a CEO, a senior executive coach is much more popular. But 10 or 15 years ago, not so much. And I've benefited enormously. My first coach was the inimitable Marshall Goldsmith. I've learned a ton from him. He helped me deal with feedback and focus on getting better and asking for advice. Without Marshall, I would not be, you know, it is informers before and after picture. It's most improved.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“There's a myth that you're born a leader. I think that every leader was born, of course, but none of us were born leaders. And I think it's a learning journey. And for me, it's been learning by doing, learning on the job, learning from great mentors. One of the things I learned the most about when I was at McKinsey was watching my clients lead. And I learned so much from a number of them. Learning from colleagues, at Best Buy, I learned so much from the frontliners and some of our great executives and then a coach. So let's slow down here. Can we agree, Barry, that exactly 100% of the top 10nis players in the world have a coach?”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“This optimism, let me tell you, if in France you talk about a problem that has never been solved. People will say, well, who are you to talk about? Nobody has been able to solve it, right? But in the US, if a problem has never been solved, immediately your fancy says, oh, this is interesting. Let's see whether we can solve it. So I love this optimism in this great country. And I'm now a dual citizen there.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, thank you for that, Barry. So the first time I moved to the US was in 1985. It was with McKinsey and Company had gone to school in France, and there had been discussion of, you know, should I do an MBA in the U.S. And after a while, McKinsey said, no, you really don't need to do that. But if you want to spend time in the U.S., we'll send you to one of our offices. So I ended up in the San Francisco office right the years where the niners were at the top of their game, right? So that's quite fascinating. And then the last time I moved to the US was in 08, 2008, when I became the CEO of Counseling Companies, so moved there from Paris, France to Minneapolis, Minnesota. I love the U.S. What I love about the U.S. is since Jefferson, we've been optimistic. There's been this dream of a better life.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“And so, for example, when I left Vivana Universal to become the CEO of Council in Vaguel, it was the CEO of Accor, which was one of the two shareholders, did a client of mine. And we had stayed friends. So, Barry, one of the key lessons is try to minimize the number of people you annoy or irritate along the way and try to focus on doing a great job where you are and then hope that God provides in the end, which is, I think, the lesson for me of my career.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“I studied my career with McKinsey and company in France and then also in the US. Essentially, I didn't know what I wanted to do. So I thought it'd be a great training ground and I ended up staying a dozen years at the firm, learned a great deal. I've had wonderful opportunities to lead great companies. At first, I left McKinsey to lead a client. It was EDS at Exchange Data Systems in France. And I ended up doing a number of turnaround and transformations of companies in industry sectors that were challenged by technology. So in video games, in travel, and then, of course, ended up with Best Buy. There was somebody with whom I had developed a relationship that played a critical role.”
2021-09-24 · Masters in Business · Hubert Joly on the Heart of Business (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source