Judy Marks, President and CEO of Otis, dives into the intricacies of leading a company that moves 2.4 billion people daily. She discusses innovations transforming the elevator industry and the importance of service excellence, especially in Japan. Mark's insights on maximizing productivity through team respect highlight the value of Otis's 44,000 mechanics. The conversation also addresses Otis's navigation through the challenges of independence during COVID-19, emphasizing agility and core values in leadership.
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insights INSIGHT
Elevator Ride Quality Defined
A good elevator ride quality means it feels smooth, safe, and comfortable without bothering the ears.
Grouping passengers and pre-selecting floors reduces stops, speeds up travel, and improves efficiency.
question_answer ANECDOTE
Otis in Iconic Buildings
Otis has maintained iconic elevators like the Eiffel Tower and Empire State Building since their construction.
These projects challenged Otis technologically and show their long-standing legacy in high-profile buildings.
insights INSIGHT
Elevator Market Consolidation Explained
The elevator industry is highly consolidated due to the life safety stakes and complexity of the work.
It requires expertise, investment, risk management, and customers' trust due to daily human transport.
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In 'Radical Uncertainty: Decision-Making Beyond the Numbers,' Mervyn King and John Kay discuss the concept of radical uncertainty, which involves events whose determinants are insufficiently understood for probabilities to be known or forecasting to be possible. The authors argue that many critical decisions cannot rely on forecasts or probability distributions and instead advocate for strategies that are robust to alternative futures and resilient to unpredictable events. They critique the overreliance on statistical models and rational choice theories, emphasizing the importance of narratives, abductive reasoning, and understanding the context of decision-making. The book covers various fields including economics, finance, policy studies, and more, using real-life examples to illustrate the folly of predictive models and the need for a more nuanced approach to uncertainty[1][2][3].
What does it take to lead a company that moves 2.4 billion people every day? In this episode, Nicolai Tangen sits down with Judy Marks, President and CEO of Otis, the world’s leading elevator manufacturer. Judy shares insights on innovation, service excellence, and the future of mobility, exploring how Otis is revolutionizing the elevator industry. They explore Otis's role in iconic buildings like the Eiffel Tower, the challenges of spinning off during COVID-19, and her leadership philosophy that supports the company’s 44,000 field mechanics. Tune in for an uplifting conversation about moving the world!
In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New full episodes every Wednesday, and don't miss our Highlight episodes every Friday.
The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen, Sebastian Langvik-Hansen and Pål Huuse. Background research was conducted by Teodora Cowie.
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