Ken Chenault, former CEO of American Express, discusses leadership, culture, and creating opportunities. Topics include equal opportunities, school integration, skill-based jobs, treating members, and achieving best in class economics.
Upskilling and advancing Black Americans into family-sustaining jobs is a mission that benefits all Americans, promoting skills-based employment opportunities.
Enduring companies must care about society and strive for a win-win situation, positively impacting society while benefiting their own organization and employees.
Deep dives
Ken Chanalt's Journey and 110's Mission
Ken Chanalt, former CEO of American Express, discusses his upbringing, including the impact of the civil rights movement on his life. He highlights the importance of equal opportunity and shares his involvement in 110, an organization focused on upskilling and advancing 1 million Black Americans into family-sustaining jobs. The initiative aims to change the focus from credentials to skills, recognizing that not everyone needs a four-year college degree for a successful career. This mission benefits all Americans, as it promotes skills-based employment opportunities.
Membership Programs and the Value for Customers
The discussion moves to the topic of membership programs, with Ken emphasizing the importance of treating members in a special way and providing a rational value proposition. He advises Walmart to focus on recognizing and rewarding their members' loyalty, while consistently innovating to surprise and delight them. Ken also highlights the need for high standards and aligning every action with the Walmart mission. The conversation stresses the idea of leadership as a choice and the importance of serving others.
Walmart's Role in Society
Ken emphasizes that enduring companies must care about society and recognize their role in creating a just society. He commends Walmart's community engagement and believes that the company can make a difference by providing economic opportunities and creating a welcoming and inclusive environment. Ken encourages companies to strive for a win-win situation, where they positively impact society while benefiting their own organization and employees. He underscores the importance of being intentional in creating a culture and business model that will endure for the long term.
Ken Chenault is someone I really admire. He was a very successful and respected CEO of American Express, and today he’s the Chairman and Managing Director of General Catalyst. He’s also the co-founder of OneTen, whose mission is to upskill, hire and advance one million Black Americans over the next 10 years into family-sustaining jobs with opportunities for advancement. It was an honor to talk to Ken about leadership and culture, and how we can help create opportunities for individuals and society. Listen to this new episode to hear how you can emerge as a leader.
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