Play
Show Navigation
Show Transcript
00:00
Play
Seek 10 seconds backwards
Seek 10 seconds forward
00:00 / 20:44
Mute
Disable Captions
Settings
Picture in picture
Fullscreen
Search in video
You can search the video captions for specific words or phrases.
Popout transcript
Hide Transcript
Skip transcript
- I'm a huge fan of
Coca-Cola like most people.
- Everyone knows Coca-Cola.
in law school I survived on Tab from early
in the morning until after midnight.
When diet Coke was introduced,
it changed my life.
It became my drink of choice.
- Coke's purpose is very simple.
It's to refresh the world
and make a difference.
- But I promise the reason I
invited today's guest is not
because I'm a Coca-Cola fan
its because he is such
an inspiring leader.
- You can't have a healthy
and prosperous business,
if the society that you're operating in
is not also healthy and prosperous
- He believes in empowering people, acting
with purpose and taking
care of the planet.
- We need to collect back a bottle or can
for every bottle or can we sell
- Today,
we're bringing James Quincy
to the inflection point.
Hello James,
it's so great to have you here
as the CEO of one of my very
favorite brands of all time
welcome to The Inflection Point.
- Its nice to be here
And I noticed you have lots of
Coke memorabilia behind you,
so you've got to tell me a little bit
about that before we get started.
- Well, you know, the great
thing about the Coke business
is not just the drinks
there's also memorabilia to collect
so you see bottles from all
around the world mixed in,
along the books and things.
So I have a lot of, a lot of
Coke countries under my belt.
- Tell me, is there one
or two behind you that are
that means a lot to you
that you got in a particular country?
Because I know you've been all
over the world for Coca Cola.
- Yeah. I'm getting up
towards a hundred countries
having visited and each one is
special for different reasons.
So they're all done with
loving the countries.
And sometimes people put a lot of effort
into coming up with a unique design on it.
They're all unique.
And I love them all.
- You can't pick one.
It's like your children, you
can't say one is your favorite.
- Exactly.
- Okay. Got it.
Now the name of this show
is The Inflection Point.
And the reason for that is
because I think in all of our lives
there's been some moment when
everything changed for us
and that is affected us
for the rest of our lives.
Can you tell us James, when
was that moment for you?
- You know, I think there
have been some a big inflection points
for me, whether it was
personal things where
my dad died when I was very young,
I was still in my twenties
or you have career inflection points
but in a why I was thinking
about this question that you pose
or what's the big inflection point.
And actually for me, it's really
life is about a series of choices and
and having to make those
decisions on imperfect information
or imperfect feelings
about an uncertain future.
And when we all face inflection
points as we go bigger
or smaller in nature,
sometimes that are existential.
But for many of us every year,
we face important decisions
and really being able to ground and think
through what you do
in an inflection point is
very important for everyone.
- And I know the death of
your father was a big one
because at that point
you said you were more
like all focused on yourself,
which I know kids are
I have a 22 year old
daughter, but as you talk
about these inflection points
are really more frequent
for us, with you
how do you face those?
- What I think is becoming
increasingly clear
for me is the importance
of the fundamentals
whether they be the values, if
it be more of a personal question
or the fundamentals of economics,
if it's more of a financial
business questions.
You know, the thing that becomes clear
in the inflection point
is the core question.
The core issue, the course of motion
our lives are filled
with so much clutter.
The thing that most
characterizes inflection
point is an importance
of getting to the core.
- That's really profound.
I think I need to take your advice.
Let's start about your growing up.
Okay. So you grew up in New Hampshire
and also in England and then
you studied engineering, but
along the way you decided I
don't want to be an engineer
I'm going to go in another direction.
- Yeah. I mean, wind clock back.
I went to study electronic engineering
beginning of the 80's.
And I think rightly I had the feeling
that electronics was the future.
And so it has been
unfortunately I discovered
that there were other people
many other people that
were much better at it,
and much more interested in the nuts and
bolts of making stuff
then I was. I discovered a passion
in the biggest strategic
issues in business.
I very much pivoted away from electronics.
I went into a different career
because in the end, you know
it's very difficult to
get out of bed every day
if you don't love what you're doing.
Of course there are consequences
of, you know, monetary
and time and all those things
with the choices you make
but doing something you
really find a passion with
I think is very important.
- I agree.
You don't want to feel
like it's work every day.
You really want to love what you do.
I agree with that.
Now in speaking of your work you've been
at Coca-Cola for more than
two decades, and you were
out in the field a lot,
you were in Latin America
you ran operations in Europe and Mexico.
How has that shaped you
as a leader, as a CEO?
- You know,
I think anyone who's going
to be the CEO really benefits
from knowing how an operation
works at the front end.
And so, you know, in my case at Coke
really understanding what happened
on the frontline in many countries
around the world was invaluable
to being able to form a view
of what did we need to
do as a corporation.
I made it much easier to come in
and have a clear agenda as CEO
and hit the ground running.
- Well one of the things I,
think I've read that you've said
about your leadership style
is you really want to listen
to your consumers.
And you also have said,
you want to take risk.
The mentality of let's not
be too cautious, you know?
So are those some hallmarks
of your leadership style?
- You know, one
of the reasons I said that
is the more you come in and lead
a long running, longstanding
successful enterprise
the more the risk around
you is that, you know
people say, well, this
is how we do it here
because this is what's worked in the past.
And the reality is it may well be
those are the reasons
it worked in the past.
We have to reinvent
ourselves each generation to
make ourselves relevant
for the next generation.
And the more successful you are
the more you've been
successful for a long time
the greater the risk
of the organization
towards the status quo.
And that's why we have
to push not just risk
for risk sake, but risk so that
we remain relevant
for the next generation and
relevant for the future.
- It must be a huge
responsibility being a global
brand that everyone on the
planet practically has heard of.
And that almost as many people
have tasted the product.
Is that awe inspiring to you?
Is it a burden?
How do you feel about that?
- Of course, like many things in life,
it's an advantage and disadvantage.
Everyone knows Coca-Cola
there's no mystery as to
what business you're in and
around that everyone has a point of view
but the disadvantage is
perhaps like they think they
know everything about
the company and its fans,
and it's very
difficult even for the CEO
to have all that information.
And so, you know, it is
a great responsibility
leading such a storied
enterprise into the future
but I wouldn't have taken it
if I didn't want to embark
on that journey of leaving it
better to the next generation.
I think that that's what every
CEO ultimately aspires to
which is taking hold of
a company and leaving it
in better shape
with better managers and
better leaders for the next generation.
- Well, and you
specifically are focused on
leading it better for the next generation,
because we're talking
about all these beverages
around the world, and most
of them are served in plastic
bottles or aluminum cans.
Tell me what Coca-Cola is
doing, focusing on this issue
about packaging, because
this goes to the heart
of what you're talking
about, leading better
for the next generation?
- Business and sustainability
are not two different things,
and two parallel tracks,
sustainability needs to
be intimately integrated
into the business strategy.
And so as we find and engage
consumers to sell
more beverages, how are
we going to make sure
that the footprint that we
leave as we provide those drinks
is as small as it can be.
And so one of the programs
that we have that's strictly
for bottles and cans is what
we call a World Without Waste.
And really it's about
creating a circular economy
for the plastic bottles
and the aluminum cans
because those packages, unlike
many other forms of waste
actually have inherit value.
The premise of the circular economy
ultimately is we need to
collect back a bottle or can
for every bottle or can we sell.
It needs to be made in such a
way that it can be introduced
into the recycling system.
And then we need to use
that recycled material
whether it be the plastic
or the aluminum to
remake a new bottle or
can, but it's worth noting
that there are already some
countries in the world where
a hundred percent of the
bottles we sell are made
from a hundred percent recycled plastic.
So this idea of fully
circular economy is not
some utopian idea in the future.
It's something that's
already true and it's
about expanding it and driving
it to cover the entire world
- It's clear, you are motivated
with a big sense of purpose,
and I went on your website,
which I love your website,
and your sense of purpose is right there.
What is Coke's purpose,
and what does it mean
to you as its leader?
- Oh, Coke's purpose is very simple.
It's to refresh the world
and make a difference.
It both talks about the business
value that we aim to create
but how that really is a part of
a greater shared value and
societal value that we create
through the Coca-Cola business.
And so it is a way of
describing where we come
from and the heritage and success
and what will propel us
into the future by refreshing consumers
between whatever beverage
or product they want,
but also integrating many
of the factors and why we call it
making a difference.
- You say, you know,
we wanted to refresh in body and spirit.
And at first I'm like
really in body and spirit
but then I'm like, you know, when I was
in law school and it was one o'clock
in the morning in the law
library, I would go get my Tab,
cause I'm that old, I would
drink the Tab, Diet Coke hadn't come
out and it did make me feel so much better
in spirit that I could
study one more hour.
So I think you do refresh
in body and spirit,
thank you for that.
Now, continuing on your purpose
you have also had a mandate at Coke.
You say business leaders should
shape an economy that works
for everyone, and it's a social contract.
What do you mean by that?
What is your social contract?
- The social contract in
a simplest sense is the
idea that you can't of have
a healthy and prosperous
business, if the society
that you're operating in is not
also healthy and prosperous.
And so, we have to stand back
as an enterprise and say, okay,
what does that mean for us?
And very clearly, you start
with the things that are most central
to your business, the
very business we're in.
So what's our role
in making sure that we replinish
what we use, what's our role
in making sure consumers
can enjoy our products
without there being, the external costs
to the environment all the way
over to other things
like female empowerment.
You know,
we have a great role in
many developing markets.
- One of your initiatives
is the 5by20, which is
about female entrepreneurs
around the world.
Tell us a tad about that, because
that is really interesting
because it goes to your
whole supply chain.
- The 5by20 program
it started back in 2010 and
the idea was to empower 5
million female entrepreneurs
in our global value chain by 25.
And it started from the very simple idea
that empowering women has a
big economic ripple effect.
As women take great roles
in the economy and society
those countries also tend to be
less violent and less volatile.
With 5by20
we've managed to reach 6
million women empowered in
over 90 countries, helping
them set up their businesses
whether that be by providing
business skills training,
access to financial services and assets,
connection with peers and marketplaces
or business opportunities
in our supply chain.
And it helped bring
economic life to societies.
- That's a really great
program, because it can have
such a huge impact on the
women and the society.
Where do you think James,
you could do a better job.
I mean, you've got so many big
plans here and you are also
succeeding with many of those plans.
Where could you do a better job even?
- One can always do better.
One of the things I often
say to people, is it's not
a perfect world and it's
not full of perfect people.
And we should always aspire
to continue to improve
whether it's individuals
or as a corporation.
- When you became CEO,
and now that you've been
CEO for several years,
are there some things
that now you wish you
could have done differently
or more quickly?
- Yeah. You know, when you become CEO
people have a deep library
of truisms that they share with you,
and what's amazing is of
course how true they are
and it's those decisions
you knew in your gut.
You have the intuition, "no-no this
"we've got to get on,"
and yet things happen,
the slings and arrows of fortune came
in and you have to solve other things
and put attention in other places.
And it took time to
come back to the issue,
whether it's launching a
product and it's a year later
or two years later than when
you realize it was needed.
And there are always these moments
we've got to keep looking for speed.
- Okay,
now let's talk about
the world post COVID
which we hope now with the vaccines
we can start being
optimistic and go there.
Whether companies want
to work from anywhere
whether they all want to
rush back to the offices
or they do some kind
of hybrid businesses clearly
are saying they want to return
to growth because last
year was a tough year.
What is your mentality for growth?
Because I've seen you talk
about a growth mindset.
What is that?
- Yeah. Clearly everyone wants to get back
growth post COVID.
And I think a growth mindset
is very much about, you know
being attuned to the
possibilities for growth
because there are always
possibilities for growth
even in the most complicated times.
And in a way it's another way
of saying consumer centricity
which is to say, we've got to stay curious
about the outside world,
the market is not internal.
The market is outside, the
consumers are outside.
But curiosity is not enough,
that's an intellectual exercise,
that's a discovery exercise.
You then got to feel empowered
to actually do something
about it and learn from
what we've done before
whether that be successes or failures
and they can include other people.
It's very rare that one
person wakes up in the morning
with a perfect idea, they
need to bring the thinking
and skills and capabilities of people.
And then it's be agile.
There's no point affecting
the perfect plan.
And then the moment has passed
on someone else's succeeds
the day.
The world is moving at a
faster pace than it did
10 or 20 years ago.
- So those are four
components that you look
for: curious, empowered, inclusive, agile.
That's your growth mindset.
- Correct.
Now having the CEO of Coca-Cola
here today, I have to ask
which of your 3,800
beverages is your favorite?
- Well, I'm an omni consumer.
And my favorite drink is entirely occasion
dependent, depending on
where I am in the world
it's a chill juice,
or it's a, you know, if it's
in the UK it's innocent,
if it's in the US it's simply.
Then I'm consuming Diet Cokes
and Coke Zeros and Cokes
and Smart Waters, which is
actually what consumers do,
they drink a portfolio of drinks,
even if they have one that they love.
It's typically they love
it for that occasion,
and then they, they round out
the day with other drinks.
- That's really true,
isn't it?
So it's a good thing
you're trying all your drinks
because all the consumers are doing that.
- Yeah. And then I always go back
to Coke, that's what I grew up with.
- Same. Now, do you empower your teams to
make the final decisions on a product?
Or do you take, have the last word?
I must taste this product before it goes
to market and make sure I love it.
- I empower my team.
I mean, who is going to
let the colorblind guy
make the final decision
on the graphics proposal?
No one, so no you have to
choose the best people,
whether it's graphics, ads,
product, tastes, product
design, choose the best people.
If the number of decisions in
the company is just limited
to the ones I made,
even if I work 24 hours
a day, seven days a week,
there's only so many
decisions I can make, like
if I can get thousands
or tens of thousands
of people to make decisions,
think how much more gets done.
Empowerment to me, is a
self evident necessity.
- One thing that I watched of you is
on your commencement speech
that you gave at Georgia Tech.
And you spoke to engineering PhDs.
So I expected you to be
talking, extolling the virtues
of getting an engineering degree.
And what did you talk about James?
Love, that like hit me
like a ton of bricks.
So briefly, can you
tell us the three parts
of love that you talked about,
which was really instructive
to all those engineering students there?
- Yeah. I think you might be the one
of the few people who wasn't there
that's actually gone and
looked at it. I say you got to
in a way, love yourself,
not the naive narcissistic
version but the self-awareness
of who you are and what you want to be.
And that's super important.
And then you've got to, you've
got to really think about
you know, what you want to do.
What is it that you love?
What is it you wanna go and be?
And then the people around you
the love of the people around you.
And if you can really understand yourself
and understand where you want to get to
and really understand
the people around you
you can create tremendous things.
-Yeah.
I just thought that was
amazing to hear the CEO
of Coca-Cola tell a bunch of engineers
think about three areas
of love, love of yourself
of your vocation and of others.
- I'm not sure I just did
justice to the speech.
- It was really great.
It was at Georgia Tech.
It was wonderful.
The rambling wreck of Georgia tTech.
Okay, now let's conclude on this.
Coca-Cola is about to
celebrate its 135th year,
so this is a major milestone
you've been around for forever.
What lessons can Coca-Cola
teach us from your 135 years?
- You know in a way people see Coke
as this authentic brand that
has always, always been there.
And yet actually Coke
reinvents itself as the brand
for each generation because
most brands get trapped
in the kind of the business school idea
of a lifestyle, a product, you
start, you grow, you plateau
and die. And there's Coke
still going 135 years later.
And so one
of the important lessons
is the necessity to
keep being relevant, not just
for the consumers from
yesterday, but the consumers
of tomorrow. All these
components of the business vision
the purpose, the strategies,
the culture, the values.
They all have to work
in coherence to drive the
business into the future
and into an enduring
connection with each generation.
- Well, we know that
as CEO, you're going to
continue giving a bright
future for Coca Cola.
Thank you so much for
sharing it with us today.
- You're welcome.
It was a pleasure and a great to meet you
if only virtually good
luck with the series.
Thank you so much.
Next time.
- On The Inflection Point,
I'll talk with Aneel Bhusri, CEO
of Workday. Was the hostile
takeover, a really hostile?
- I would say hostile with a capital H.
How can you be both an introvert and
an optimist in Silicon Valley?
- There's no way to start a company
without optimism and Winston
Churchill had a great quote,
"I choose to be an optimist
"because the other choice is not very good."
- You have said a corporation
should have a soul.
- The world's going
through a really challenging
time with COVID, with layoffs,
with social and racial justice issues.
And so corporations need to have a soul.
Resume AutoScroll
Questions about Salesforce+? We have answers.
What is Salesforce+?
Salesforce+ is the free streaming service for business. It’s a place to watch live events and original series that help you grow your career and company, on your own time. Salesforce+ is produced by Salesforce, so you’ll find our company’s big events like Dreamforce here — as well as new original shows and virtual learning made for your role and industry. Everything is free and unlimited.
What can I watch on Salesforce+?
You can watch all kinds of helpful, entertaining, and inspiring videos on Salesforce+. One thing our members love is our events. Whether you catch them live or on demand, Salesforce+ gives you a free front-row seat to our biggest global events, like Dreamforce, TrailblazerDX, and Connections. Our members are also big fans of our original series. These entertaining business shows star people in roles and industries just like yours, giving you fresh ideas for how to grow your company and do better work. The best part is, it’s all free.
Do I have to pay for Salesforce+?
Salesforce+ is free. Watch any Salesforce+ events or series at no cost. To enjoy unlimited free access to our entire library of videos, become a member by signing up for Salesforce+ with a Trailblazer account. You don’t need a Trailblazer account to watch original series. To join us for virtual events like Dreamforce or Connections, you need to create your own Trailblazer account (it’s free!).
What is a Trailblazer account?
Your Trailblazer account gives you access to a unified profile across the Salesforce ecosystem and allows you to manage your settings and access across multiple Salesforce sites.
How do I sign up to register for live and on-demand events, like Dreamforce?
Sign up or log in to your Trailblazer account and complete a few additional details to watch Salesforce+ events live and on demand. We recommend preregistering for all events on Salesforce+ to get your own personalized journey, reminders, recommendations, and more.
Do I need to be a Salesforce customer to watch Salesforce+?
You don’t need to be a Salesforce customer to watch Salesforce+. Our virtual learning is open to everyone.
