Thank you Dr. Fleming. It is such an honor to be here with you and to be a part of this celebration.
I want to offer my Congratulations to everyone here today as well.
Graduates I think the fact that you have achieved this milestone speaks volumes about what you can and will accomplish in the future.
It’s hard for me to believe it’s been 23 years since I had on one of these robes and sat where you are today. It’s even harder for me to believe the changes I have witnessed in the world since that time.
Today I want to share highlights of these changes, because I think they provide insights into the business world that you will be leading. Then I want to highlight 3 of the most important things for you to focus on for success in this new business world and then close with some thoughts about personal traits for a successful life.
My graduation year, 1984, was the year AT&T was forced to break up amidst allegations of illegal practices by member companies to stifle competition. AT&T has come full-circle with its purchase of BellSouth this year. Just goes to show you that sometimes – the more things change—sometimes they really are the same.
And, Mary Lou Retton vaulted into our hearts at the 1984 Olympics in Los Angeles. Who would have thought that 12 years later our home – Atlanta, Georgia – would serve as host to the 1996 games forever launching us into an international arena?
In 1984 Georgia was named the 4th fastest growing state in America with a population of about 6 million. Today, Georgia is still the 4th fastest growing state according to Fortune Magazine but with a population approaching 10 million. By 2030 the census bureau forecasts that Georgia will have a population of 12 million.
Also in 1984, Atlanta’s population was 2.5 million. Today it is more than 5 million. And by 2030 will be 7 million. Today Atlanta is the 10th largest city in America and is projected to be the 9th largest by 2030. If you think there are more cars on the road --- you’re exactly right and looks like more are coming. In the 1980s we were told that Georgia 400 would solve all of our traffic woes. Today, we know that prediction to be wrong. But at least, we have computers and cell phones that allow us to access traffic information and help us avoid problem spots. In fact, 80% of the cost of a new car today is the computer technology. There are over 64,000 microchips in most new cars. Today’s car even parks itself.
When I graduated in 1984 I did not own a computer and I did not have access to one at work.
Words like the net, email, Google and iPodTM did not exist. In fact, it was not until 10 years after I graduated that I had access to the Internet.
It is amazing just how much the Internet has impacted our lives.
Today, statistics show that 1 in 8 couples who married last year met online.
My 16-year-old has the best library in the world at her fingertips. She can even go online to “homework helper“ to find someone who can help her with homework. As a working mother, this has been a lifesaver.
And at Southern Company we have 26,000 employees and today almost 6,000 of those employees are able to telecommute to work via the Internet. This is one solution to the traffic issue we face.
The iPod was fiction in 1984, but the man who introduced us to the iPod, Steve Jobs, released the Macintosh computer in 1984. That Macintosh had a groundbreaking amount of memory, the equivalent of 250 pages of text. Today’s iPod can store about 80,000 thick books.
As I look at this audience I realize that some of you may not have been born until 1984. If so, you share your birth year with Enron, a corporation that rose to the top of its class. The lack of ethics later shown by the leaders of this company forever changed the business world. The actions of these executives wrecked havoc on the lives of the company’s employees and millions of investors who lost everything.
Few business schools taught ethics in 1984. Today more than ever there is heightened focus on ethics and integrity in the corporate world. Those who do not follow the rules can go to jail. In today’s business world transparency and honesty are basic necessities for success.
In fact, your integrity is the most important asset you have. Guard it relentlessly because if it is ever compromised, you cannot get it back.
Over the years, the workforce has seen dramatic changes. When I was in undergraduate school in the 1970s I was one of only 3 women in the school of business. Most women went to school to be a teacher or nurse in those days. The business world was viewed as a man’s domain. In graduate school in 1984 there were a few more women—but not many. We did not look anything like your class today.
In 1984, at Southern Company we looked a lot like all of corporate America. We did not have any female officers in the company and very few women in managerial roles. I was a financial analyst when I graduated. I never dreamed that I would later be given the opportunity to lead the technology organization of a Fortune 500 company.
Today, a third of our 124 officers at Southern Company are females. Not only are there more women, but more minorities are in leadership as well. And today almost 60% of the folks enrolled in business school in the United States are women. These demographics are a sign that to be successful, today’s leaders must be able to relate and welcome ideas from a more diverse workforce.
The changes I just mentioned provide great insight for the future and the business world you will be leading. The great business leader Peter Drucker once said “To predict the future you must create it.”
So let’s talk about your future and how you can shape it for success. I’ve already talked about integrity -- and without it – nothing else you do will matter. If history provides insights, here are the things I believe you must embrace to be successful in the future:
o Continuous learning,
o Leveraging diversity and
o Taking risks.
I’ve given you some examples of the dramatic changes I’ve seen during my career but the pace of change is accelerating. The future will dictate that every business leader is a consummate student. Today we are able to precisely track just how much data is out there and how fast it is growing….
Today we know that the amount of information in the world is doubling every 5 years. This means that we will create more information in the next 5 years than previously was created since the inception of mankind. Current predictions are that this number will grow exponentially. By 2020 information is predicted to double daily. You may ask, “How is this possible?”
I had the opportunity to meet with the Chief Scientist from AT&T last year. He is the one who made this prediction. When I asked him this question he explained it in a very logical way. By 2020 you will have many machines hooked to the Internet and they will send constant information over the net. For instance in the electric business, we are in the process of automating the meter reading process. Today someone comes to your house monthly and reads the meter. Very soon, your meter will be a computer that automatically takes readings of your usage and sends a signal every 15 seconds. In the near future that same meter will get signals from your refrigerator telling it how much power the refrigerator uses and allowing you to remotely control the thermometer. If you are coming home you may want something really cold to drink so you can lower the temperature. And this is just a small example of the many new devices that will be providing constant information over the web.
In addition to the rapid growth in data the advances in technology are dramatic as well. Newer, better and faster tools are being created each day.
Just look at the advances in cell phones…. I thought I was really state of the art in 1996 because I had a bag phone. It was large and awkward to carry. It had a battery that lasted for about 45 minutes and if you stood in just the right pose in just the right direction you might be able to get it to work.
In contrast, today’s phone does everything short of making supper. It is just amazing to me that by next year, the cell phone I just bought will be obsolete. A better, faster and cheaper model with new features will be on sale.
So in the future, your most important knowledge will be how to use the best tools to find the information you need and to keep yourself current on these technologies.
In fact, sources say a college education is obsolete in 7 years and I’m sure that number will only accelerate in the future.
As CIO of Southern Company my team and I are constantly exploring the future and evaluating new technologies to see how we can apply them to help the company meet its goals. We have to plan for years in advance for new technologies that are coming so that we can build the infrastructure to support them inside the company. And current predictions are that by 2015 computers will reach the computing capacity of the human brain. By 2025 a $1,000 computer will exceed the knowledge and computing capacity of the human race. Your ability to embrace this technology and keep pace with it will require a commitment to continuous learning.
One company that is continuously looking ahead is Microsoft. As a CIO, I had the opportunity to visit their research lab in Seattle last year. One of the scientists said that microchip technology was going to get so cheap and so small that you’ll be able to throw a handful of chips into a can of paint. After you paint a room, when you walk into it, the wall will know who you are.
So much for sneaking to the kitchen for a midnight snack.
In addition to continuous learning, leveraging diversity will be critical for the leader of the future. By 2020, 46 million Baby Boomers with a college education, including me, will retire. Because of increased educational opportunities for women and minorities, the workforce replacing us Boomers will be more diverse.
Work will also be done differently. It will be more mobile and remote. And, the top 10 jobs expected in 2010 didn’t exist in 2004.
China and India and other developing nations will provide answers for the expected workforce shortage we will experience in the United States. China and India each have more people with high IQ’s – than we have people in this country. China’s immense population and its population’s eagerness to learn will soon make China the largest English speaking country in the world. And, they are eager to work. And, they work cheaply.
Last year, I had the opportunity to visit China. The growth taking place there is incredible. China’s infrastructure is superior to anything I have seen elsewhere in the world.
As a future leader, you will need skills to help you get the very most from your workforce here at home and you will need the knowledge of how to source a portion of your work offshore. The availability of workers and the sheer economics will mandate it. Being able to relate to this new diverse work environment will be critical to any business.
At Southern Company, we do exit interviews with every employee who leaves on a voluntary basis. What we’ve learned is that people leave for one primary reason --they did not like their immediate supervisor.
We’ve found this is universal among top companies. It’s not about money. People want to work for someone who cares about them. Servant leadership and the ability to relate to a diverse group of people is critical for motivating and retaining workers and will continue to be even more important as we reach labor shortages in the U.S. Business leaders must be compassionate and demonstrate they care about the people on their team. And the best teams will be diverse because it is this kind of thinking that ultimately leads to the best solutions. The best leaders will surround themselves with people who think differently from them and who help fill any gaps on the team. For instance, if the team does not have someone who is good in finance, you should seek someone who has those skills. If the makeup of your team does not look like your customers then you’re going to have a gap in trying to determine customer needs.
Taking risks is my last focus area for success, but it is definitely not the least of the three. With all the change that is taking place in the world, you will not have 100% of the information you need to make decisions. But success will be linked to your ability to venture out of your comfort zone. It’s hard to do that at times and requires courage and self- confidence.
When thinking of risk, I am reminded of something I witnessed in my childhood. My grandmother lived in a small town in South Georgia. When the circus came they put up tents and stayed all week. I was fascinated by the elephant and each afternoon between shows I went down to the tents and I’d watch the workers feed the elephant. I was amazed that the large elephant was held back by a stake in the ground. I remember thinking that stick must run through the earth to China to hold such a strong animal back. On the last day I went to watch the workers take down the tents. I was amazed when they pulled the stake up that held back the elephant. It was no bigger than a pencil. I think in life we often let ourselves be held back by the smallest things.
If we would be bolder it is amazing what we could accomplish. And taking those risks can provide great personal satisfaction. I recently read a fascinating study on the regrets of near-death individuals.
Hundreds of people who had less than a month to live agreed their biggest regrets were the things they didn’t do. The study showed people have very little or no regret for things they’ve tried, even if they failed. What they regretted most were the things they DID NOT DO. Don’t let the things you want to do become regrets later in life. Seize the day and make things happen for yourself.
If you want something in life, go get it. Leadership is taken – it is not given. Not in today’s world and certainly not in the future. Never be defined by your job description. If you see a job that needs to be done or an opportunity that you want, take it. The great hockey player, Wayne Gretsky said “you always miss 100% of the shots you don’t take.”
And, don’t be afraid of failure. The most powerful learning experiences we have are from our failures. I understand how tough it can be to take risks. About 3 years ago I called my Dad for some advice. I had really taken on a tough initiative and had many naysayers after me. His counsel to me was “just remember, dogs don’t chase parked cars”.
He is right. If you are out of the box and driving change you are gonna have some dogs after you. You just need to out run them or bark back.
The great philosopher Pierre Corneille once said,” To win without risk is to triumph without glory”.
Now I want to talk about IMPACTING the future.
We are so fortunate to live in this great country and to be blessed with a wonderful education. It is amazing to me that we live in a country with tremendous opportunities and the highest standard of living in the world -- and yet depression is at an all time high. I think people in our country are too focused on themselves and not enough on giving back. All the money and the success in the world will not make you happy.
The surest path to happiness is by helping others. And few excuses exist now that term papers are over – in addition to your time you should have more resources to give as well.
Sources say that if you have a bachelor’s degree, you have $22,000 more earning potential each year than a high school graduate. With a master’s degree, you have $36,000 more earning potential each year than a high school graduate. So find a cause that you are passionate about and make a difference for yourself and for our community.
Those who bring happiness to the lives of others cannot keep it from themselves. The author Flora Edwards once said “In helping others we shall help ourselves—for whatever good we give out completes the circle and comes back to us.” I have certainly found that to be very true in my life.
And finally, I want to leave you with this thought. Your attitude is one of the few things that only you control. Your attitude will help determine your altitude up the corporate ladder.
Whether you believe you can or cannot do something --- you are exactly right. So never doubt yourself and don’t let others convince you that you can’t achieve your dreams.
You cannot always control what happens to you – but you can control how you react to it. Attitudes are very contagious. Good one’s and bad. Avoid those folks who get you down and be sure you are always reaching out to lift and inspire. It is amazing the impact a single person can have in lifting another.
One of the best ways to lift someone’s spirit – and it’s so simple and free – is to smile. I am going to ask that you turn to the person next to you, look them in the eye, give them a big smile and say, “Have a great day.” Doesn’t that feel great?
Graduates you have tremendous opportunity to make a positive difference in the world. I know you will do great things in your careers and your lives. When faced with a choice to focus on something new and uncertain I hope you will embrace the opportunity to learn something new, have the courage to take risks and believe in yourself while supporting and lifting those around you.
I want to close with my favorite quote by Ralph Waldo Emerson – I leave you with this parting challenge:
“Do not go where the path may lead –go instead where there is no path and leave a trail.”
Thanks for allowing me to be with you today, congratulations on this major accomplishment and best of luck with blazing your trail.
About the Speaker
Rebecca Bradford Blalock, MBA ’84
Rebecca B. Blalock is Senior Vice President and Chief Information Officer for Southern Company, one of the nation’s largest producers of electricity. She joined Georgia Power, a Southern Company subsidiary, in 1978, steadily advancing through the ranks, including serving as Vice President of Community and Economic Development. Named Atlanta Magazine’s 2006 Power Woman and the Atlanta Women’s Foundation’s 2006 Shining Star Award recipient, she was recognized in the 2006 listing of “Premier 100 IT Leaders” by Computerworld and “100 Most Influential Atlantans” by Atlanta Business Chronicle. A graduate of Leadership Atlanta and Leadership Georgia, she is a member of various boards. She holds a bachelor’s degree from University of West Georgia and a master of business administration degree from Mercer University’s Stetson School of Business and Economics, of which she serves on the Board of Visitors.