Jay Ireland, president and CEO of GE Africa, weighs in on trends such as global integration and the burgeoning middle class in developing countries in this interview at IESE's recent Global Alumni Reunion in Madrid.
Ireland describes the company's Ecomagination and Healthymagination initiatives, which develop products aimed at reducing environmental impact and contributing to a healthier society.
Increased global integration means that companies in developed countries are now reliant on growth in China, Asia and Latin America and this will clearly affect how risk is perceived, he says.
To address new challenges, "a new mindset" is needed among business leaders that focuses squarely on the road ahead. This means thinking, "It doesn't really matter how we got into this anymore, now we've got to get out," he says.
"One of the challenges we all have is getting the right people with the right mindsets," he said. To this end, GE spends over $1 billion a year in training its employees around the globe.