How Do Great Leaders Innovate Responsibly?

TL;DR

Great leaders innovate responsibly by grounding their actions in core values and cultivating a servant leadership mentality. Ken Chenault emphasizes that companies must focus on social impact and diversity while pursuing profits, and his OneTen initiative aims to create one million family-sustaining jobs for Black Americans by prioritizing skills over college degrees.

Transcript

I’m Whitney Pennington Rodgers, I’m TED’s current affairs curator. And the guest who's joining us now is not only a psychologically wise leader himself, but he looks to develop psychologically wise leaders to put them out into the world. From 2001 to 2018, he was the CEO and chairman of American Express, and now he is the managing director and chai... Read More

Key Insights

• 👑 Ken Chenault emphasizes the importance of leadership in uncertain times, highlighting the need for leaders to be grounded in core values and to have a servant leadership mentality.
• 💡 General Catalyst, a venture capital firm, aims to invest in powerful, positive change that endures, challenging the idea that there is a trade-off between profits and social good.
• 🌱 Responsible innovation is a key focus for General Catalyst, driven by the belief that companies have a responsibility to society. They prioritize diversity and the environment while considering the potential impact of their products and services.
• 🤝 OneTen, co-founded by Ken Chenault, aims to upskill, hire, and advance one million Black Americans into sustainable careers. It addresses systemic racism by focusing on skills-first approaches rather than solely emphasizing college degrees.
• 🌍 Through OneTen, the private sector, particularly large companies, can take an active role in creating lasting change and opening up opportunities for all Americans.
• 🚀 OneTen's objective is to create one million family-sustaining jobs in 10 years, a challenging but mission-driven goal that requires addressing the fragmented job supply network and focusing on skilling and reskilling.
• 💼 Ken Chenault believes that building enduring companies means incorporating a broader mindset and a higher level of intentionality in terms of social and environmental responsibility.
• 🙏 The role of a leader, according to Ken Chenault, is to define reality and give hope, a concept that applies even more crucially in times of change and uncertainty, such as during the COVID pandemic and massive shifts in the workforce.

Questions & Answers

Q: How does Ken Chenault define the role of a leader in times of change?

According to Ken Chenault, the role of a leader is to define reality and give hope. In uncertain times, leaders need to be grounded in core values and have a servant leadership mentality. They should stand for something and create a culture based on values and behaviors. The leader's task is to provide people with context, acknowledge anxiety, and emphasize the reasons why they believe they can overcome challenges.

Q: What is General Catalyst, and what is its philosophy?

General Catalyst is a venture capital firm that focuses on building companies. Its philosophy revolves around investing in powerful, positive change that will endure. They reject the idea that there is a trade-off between profits, investment returns, and social good. Instead, they believe that technology should be a great enabler and strive for "responsible innovation."

Q: Why did Ken Chenault become interested in responsible innovation?

Ken Chenault became interested in responsible innovation for several reasons. Firstly, he recognized the potential of technology as a great enabler but also saw the need for it to act in a more responsible way. Secondly, he noticed a lack of diversity in the technology and venture capital sectors. Lastly, he was attracted to General Catalyst because his partners shared a strong belief in responsible innovation and were willing to embrace it.

Q: How does Ken Chenault believe companies should approach their responsibilities to society?

According to Ken Chenault, companies have a responsibility to society because they exist with society's permission. He believes that companies should consider the impacts of their products and services on the people they serve and any negative consequences they may have. Additionally, Chenault emphasizes the importance of building diverse workforces, thinking about the environment, and having a higher level of intentionality in creating a positive impact on society.

Q: What is OneTen, and why was it created?

OneTen is an initiative co-founded by Ken Chenault that aims to upskill, hire, and advance one million Black Americans into sustainable careers within 10 years. It was created in response to the murder of George Floyd and the recognition that Black Americans without college degrees need comprehensive support. OneTen seeks to address systemic barriers by focusing on skills-based qualifications for jobs and encouraging private sector companies to take an active role in creating opportunities for Black Americans.

Summary & Key Takeaways

• Ken Chenault is the former CEO and chairman of American Express and is now the managing director and chairman of General Catalyst, a venture capital firm that focuses on organizations that create positive change.

• Chenault believes that leaders should define reality and give hope, especially during times of uncertainty. He emphasizes the importance of being grounded in core values and having a servant leadership mentality.

• General Catalyst practices responsible innovation, aiming to invest in powerful, positive change that endures. Chenault believes that companies have a responsibility to society and should prioritize diversity, the environment, and social impact.