How Americans Can Adapt to a Global Economy
Frank Brown spent 26 years at PricewaterhouseCoopers, holding a number of top jobs, before becoming dean of Insead, the international business school south of Paris, in 2006. He spoke recently with Deputy Business Editor Rick Newman about the world's business hot spots, fading American dominance, and what it takes to get ahead as a global executive.
Do you agree with people who think America is losing its competitive edge?
I firmly believe that the days of the United States as a global, dominant economy are waning. A lot of companies are reluctant to accept that. Americans are often looked down upon overseas, because they assume that people will capitulate toward their way of doing things–in somebody else's country. That doesn't cut it anymore.
Another thing I worry about: Why do Americans want to retire at 55? My kids are 26 and 23. I tell them, you might live to be 100. So do something you love and plan to do it for a long time. I look at Florida and wonder: Why is it now the American dream to retire at 55 or 60 and move to Florida? Over a period of 20 years or so, Social Security becomes a real problem–especially if we don't have a productive working life that's longer. We could end up like France, where everybody who's working is supporting somebody else who's not.
What should a midcareer executive be doing to adapt to a global economy?
You've got to be open to not just traveling but experiencing other cultures. Go to cultural events, sporting events; go to somebody's house for dinner. That can be a real trip. There's a big difference between being global, which to me means you've been on a lot of planes and passed through a lot of airports, and being worldly. Don't just go to China for a two-day business trip.
I'll give you an example. My wife came with me to Vietnam and had an amazing experience in Ho Chi Minh City. She was shopping in a local market, and a cute little girl who spoke perfect English helped her. As my wife said, "She sort of adopted me and helped me shop." Toward the end of the day, the girl tried to sell my wife some postcards. My wife didn't really want them and declined, but she offered her a little money for all the help. The girl refused. It was a matter of pride. She didn't want a handout. She wanted to sell her postcards. That tells you something about the Vietnamese.
In Japan, people in low jobs go to work in a business suit and change into overalls in their locker. But they want people on the train to see them in a business suit.
Food is another huge issue. You can't be a hamburger kind of guy and expect to get along in most cultures.
So what should executives do to become more worldly?
If you're already successful at a large company, chances are you've had some overseas travel. If your kids are old enough and it works for your family, try to extend that to a six-month overseas posting. People always insist on being home for the weekend, which is good for the family, but you miss a ton. Also, do it now, because this experience will pay huge dividends later on, when it really becomes a requirement. In some ways, it already is a requirement. If you want a leadership role in a multinational corporation, you've got to have this kind of experience.
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