ATLANTA, GA. – It’s The New World Marketplace afterall, and women, youth and multiculturalism are shaping our future.  A rapid cultural shift has occurred over the last decade, but author and thought leader Farnaz Wallace believes it’s not being addressed by businesses and leaders.

“With all the great empowerment initiatives for women today, we are still looking at massive gender inequality in corridors of power,” she said.  ”Many great women thought leaders point to re-evaluating business policies to eliminate obstacles that force talented women to choose between family and career, and others point to women’s ambition calling us all to man up–but I believe there are 4 missing links from this important dialogue.”

Wallace breaks these down into four essentials for women to succeed in The New World Marketplace Leadership: Inner-authenticity, Being the woman leader other women want to work for, Re-defining Power, and Avoiding all gender stereotypes.

“I’ve always believed once you gain trust and respect, love always follows,” she said.  ”But how can women gain trust and respect if they’re trying to be someone they are not?”  Wallace believes it’s far more important to find the richest, fullest expression of one’s authentic self, and spend majority of time in strength and passion and generate results, versus trying to fit into a perceived cultural norm.

“Research shows that women have a tougher time working for women,” she said.  ”To be a successful leader, people of all ages, cultures, race and gender must want to follow and work for you, specially other women.  Men and women largely agree on life goals. It is the position of power and domination that differentiates us, not just between men and women, but also among women ourselves.”

“That’s even more of an important toptic than gender inequality because the old business culture of command and control doesn’t work for men or women,” she said.  Wallace believes it is time to redefine power as less need to limit or control others, and define power as affiliation, linking and partnership–a blend of hard and soft powers, she calls it “smart” powers.  ”Women don’t need to man up to be successful, they need to possess smart powers,” she said.

“Women are different than other women, just as men are different than other men, why the continuous focus on gender stereotyping?” she asks.  ”I believe if we want to achieve gender equality, we must first stop gender stereotyping for it serves no purpose other than protecting traditional orthodoxies that have held women back for generations.”

Wallace is a thought leader, speaker, and strategic consultant focused on helping companies capitalize on cultural macro trends in today’s fast-changing marketplace. She is the published author of the book, The New World Marketplace, and presently resides in Atlanta.

In this article, Farnaz said, “women, youth and multiculturalism are shaping the future and businesses need to adapt because these are currently missing components that are needed to develop the next generations of leaders.  Wallace serves as the moderator for the forum’s “Developing the next generation of leaders” panel.

These rapid cultural shifts are not being addressed by businesses and leaders, and they are the macro trends shaping the future,” she said.  ”While women are 50 percent of the work force, 51 percent of the population and control 85 percent of consumer buying decisions, they need to tap into makes them unique in order to become great leaders.”

“The feminine values of caring, and nurturing are polarizing.  There has been a trend to harden women and soften men.  Women are encouraged to be aggressive and embrace the masculine values of power and success,” she said.  ”But it is not all about hard and soft powers.  It’s about smart powers.”

Winning in the marketplace, regardless of gender, is ultimately about performance and Wallace doesn’t want to minimize the importance of competence.  ”People don’t leave companies, they leave people,” she said.  ”If a company is spending more time on products and IT instead of relationships and people, they are not investing in the long-term financial success.  We need to redefine new world leadership and understand it is more about caring and nurturing and the ability to influence and persuade.  Numbers are manifested through people’s actions and you can’t succeed unless you take care of your people.  The new world leader gets that.”

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In my keynote speech at Possible Woman conference two weeks ago, I addressed what it takes to be a successful woman leader in The New World Marketplace.  Here’s a 5-min video highlight of this keynote address followed by my written summary of the 4 tips I shared:

1.  Be authentic, focus on your own unique differentiation, gain trust and respect

I wasn’t just a woman working hard to advance my career in Corporate America, I was an Iranian-American woman….so you can just imagine the brutal stereotypes I had to face and overcome.  I wasn’t just an Iranian-American woman, but I had multi-colored hair and tattoos.   A far cry from a traditional image of a successful businessman.  But at the end of the day, results speak for themselves.  Under my CMO leadership, we drove 5 years of consecutive same-store-sales growth.   So, I built trust and respect instead of focusing on changing myself to fit into a cultural norm…and I’ve always believed once you gain trust and respect, love follows.  Trust and respect are two most important shared values in relationships in The New World Marketplace.  But how can you possibly gain trust and respect of your collegues, employees, bosses, even your customers, when you’re trying to be someone you’re not?

It’s far more important to always find the richest, fullest expression of your authentic self, and spend majority of your time in your strengths and passion, versus trying to fit into an exclusive image of the professional businessman, which is no longer the success archetype in The New World Marketplace. Because being good at what you do has nothing to do with how others see you…but it has everything to do with how you see and feel about yourself.

I not only believe the inner authenticity translates in to your own power and success, but I believe authenticity in branding strategies also translates in to your company success.   Strategy is not about being the best, it’s about being different and unique.  Your own branding strategy has to be the same….about your own uniqueness and differentiation.  Be authentic, focus on your own unique differentiation, gain trust and respect and let the results speak for themselves.

2.  Be the woman leader other women want to work for

Beyond my non-traditional image and my business and financial performance, it was my style of leadership that differentiated me.  I was determined to become the woman leader other women wanted to work for.  As an emerging leader, I was always promoted every 2-3 years by working hard and driving results.  And I’ve had just as many female bosses as I’ve had male bosses….yet the women bosses weren’t the ones promoting me.  I always questioned whether it was a scarcity mentality that there is just not enough abundance to go around for all of us…or a flaw in leadership training for women.  I decided then that I wanted to be a woman leader other women wanted to work for and that I’d provide an environment for women to thrive and succeed.

As I was doing research for my book, I came across this data from Time Magazine:   More than 2/3 of women still think men resent powerful women…yet 45% of women say female bosses are harder to work for, versus only 29% of men.  This is a major issue not often addressed.

Believe it or not, men and women of all races and ages largely agree on life goals.  It is the position of power and domination that differentiates us, not just between men and women, but also among women ourselves.  That’s even more of an important topic than gender inequality, because one of my biggest fear is reaching gender equality but maintaining the same business culture of domination, command and control.  Because that model is not working, and simply switching gender without redefining power and success will not address the core issue.

3.  Redefine Power as a blend of hard and soft powers – SMART powers

I believe it’s time to redefine power as less need to limit or control others and define power as affiliation, linking and partnership.  In fact, the need to control and dominate, in reality, is a feeling of powerlessness.  That means leaving behind the hard, conquest and domination-oriented values.  I don’t believe you need to man up to be a successful woman leader.

Feminine values or soft powers are loaded with polarizing reactions, but they are meant to refer to values associated with creation, life-generating, nurturing powers, caring, relating…human and relationship values that have become a business imperative and taught in almost all leadership materials…versus taking, conquest and domination.

It’s time to use feminine and masculine powers as qualities and values in all women and men, instead of gender stereotyping.  Let’s face it…there are many women who lead with masculine hard powers, and there are many men who lead with relating, nurturing, caring & soft powers.  It has nothing to do with gender.

I believe we all need both…. and it’s a matter of knowing when to use which… Blend of hard powers and soft powers….let’s just call it “SMART POWERS.”  It’s time for women leaders to re-evaluate how they view power to succeed and use SMART powers.

4.  Stop gender stereotyping, avoid focus on gender differences

Men are from Mars.  Women are from Venus.  Ask yourself why do we persist to focus on gender differences.  Men are logical.  Women are emotional.  If that’s true, and marketing is designed to get an “emotional” response and attachment from customers, why do we bother market to men at all?  Men are different from other men.  Women are different than other women.  Why the continuous focus on how men and women are different?  Haven’t we confused our next generations of leaders enough?

I, for one, have defied all gender stereotypes, but that doesn’t mean I forgot how to be a caring, nurturing woman as a leader.  I used my masculine powers to gain competitive market share and drive financial results, but I led my team with feminine powers of caring, relating and partnership.

The focus on gender inequality must be different than our continuous focus on gender differences.  In fact, I believe if we want to achieve gender equality, we must first stop gender stereotyping for it serves no purpose other than protecting traditional orthodoxies that have held women back for generations.

In The New World Marketplace, it’s neither the man’s world nor a woman’s nation.  It’s a dynamic, cooperative shared reality that is under constant evaluation.  And the template of success and happiness is very unique and personal to each individual, and is gender neutral and color blind.  If you lead with authenticity, purpose and passion, power and success will follow.

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Recently I was asked to moderate a panel in Atlanta titled “Developing the Next Generation of Leaders” which is a great fit with my expertise and vision.  As I started to think how I would frame this important dialogue, I realized that it starts with a Spring Cleaning mindset of our workplace and business policies.

There are overwhelming amount of materials available on this topic, essentially focusing on the same issues….do we have a vision, do we have a winning strategy, do we have the right team for the right positions, are we getting the best results from our team, are we maximizing their output and leveraging team strengths, are we achieving business & financial objectives, do we have the right training/development initiatives, etc.  But I believe there are 3 missing components—or even if they exist, they are lost in the tactical piles instead of being starting points.

1.  Create a modern day workplace – think work/life balance and flexibility in business policies

How long has it been since any of you worked a traditional eight-hour workday from 9-5?  This notion is rapidly fading from the traditional business world.  It is not just a gender issue, Gen Y issue, or a small HR initiative—it is now a business imperative.

I wrote a blog last year, An Honest Discussion About Gender Gap in Leadership, which outlined inflexible schedules, unrelenting travel, insistence that work be done in the office, lack of descent maternity leave and better affordable child-care as key issues to resolve in our business/social policies to achieve healthier gender parity and ultimately better financial results.   I remember my own struggles with my conventional C-suite years ago, fighting to keep the jobs for women who needed flex hours to conduct great work.  Protecting traditional orthodoxies, command and control, lack of trust, fear of reduced productivity without structure.  This is ironic, given that the modern day workplace allowing flexibility and work-life balance breeds trust, productivity, motivation and engagement.  Besides technology keeps people connected to their jobs way after they punch out of offices.

Now a recent Vodafone U.K. survey indicates that 90% of employers offer flex hours.  Perhaps because this is no longer a gender issue, it is also a generational issue.  According to a Time Magazine article, more than one third of Gen Y workers would take a pay cut if it meant more flexibility on the job, and more than half prioritize social media freedom over a higher salary.  And guess what?  By 2025, 75% of the global workforce will be Gen Y.  As early as next year, Gen Y will comprise 60% of the employees at many companies like Ernst & Young, Aflac and MITRE.

Businesses must re-evaluate the false notion of how, where and when the work gets done and re-define their policies in order to succeed and able to recruit and retain great diverse talent that can drive higher, profitable, sustainable growth.

2.  Add Purpose and Values to strategic frameworks and business models – think emotional

Customers don’t buy what and how you sell products, but why you do it.   A purpose-driven company outperforms rivals by establishing a difference it can sustain.  Similarly, people want to join companies with a purpose and shared values aligned with theirs.  Who is not passionate about making the world a better place?  Certainly not our next generations of leaders.

An MTV survey revealed that 80% of Gen Y think it’s important to do “something meaningful with my life,” and 66% said it was important to help “those who are less fortunate in your community.”  For them, there’s no question of whether to recycle or mind one’s carbon footprint…they don’t think about it, they just do it…it’s ingrained.

What is the “purpose” of your company beyond increasing shareholder value?  What are the “shared values” you adhere to, believe in, and execute at every level of your organization?  Trust, respect, honesty and integrity are shared values in The New World Marketplace.  There are many more.  Are you aligned with and breathing daily any of these values in your business practices?  I’m not referring to the words you put on your web site, packaging or promotional videos…or, simply selecting a narrow ‘cause marketing’ initiative that you may allocate a small budget for.  This is a brand promise to your customers and employees and must be a big part of your strategic frameworks and business models.

Success in The New World Marketplace demands that all businesses not only learn to channel the rapid cultural and social shifts, but also align themselves with the shifting values of our next generation of leaders.

3.  Place more emphasis on people than numbers – think engagement, caring, relating and profit sharing

Numbers are manifested through people’s action.  A simple phenomenon often forgotten by businesses.  All great leaders want to make a difference.  Why not offer that early on to emerging leaders by engaging them in decision makings and empowering them to make a difference versus assigning generic, repetitive tasks a machine can do.  I often refer to Gen Y as Harry Potter Generation….standing up for your beliefs and rights, distrust of those in power, fighting injustice, equality for all races and genders, and feeling responsible to make a difference in the world.  These are the values of our next generation of leaders.

This goes beyond fancy charts on development/training materials.  It means being and acting personal, responding to needs, concerns and aspirations, which drive engagement and performance.  The business leaders who care the most have the greatest impact on their people, who will, in turn, feel valued and become successful leaders in the future.

This does not, and should not, minimize financial responsibilities.  Winning in The New World Marketplace is ultimately about performance and financial results.  But if you’re spending more time on products, processes and IT than caring, relating, partnership and profit sharing, you’re not investing in the long-term success of your people, companies and financial outcomes.  Think profit sharing to drive loyalty, engagement, and performance.  Relate emotionally on how your business decisions will impact people’s lives–your employees as well as your customers–and ultimately your profits long term.  Do the work that inspires your people.  And remember, only way to do great work is to love what you do.

If you liked this blog, please “share”…. and I love to read your comments, too.

Wallace joins international dance star Judith Jamison, choreographer and artistic director emerita of the Alvin Ailey American Dance Theater, who will be the luncheon keynote speaker.

As a former Chief Marketing Officer with Church’s Chicken who drove five years of consecutive sales growth outpacing the category, Wallace coined the phrase The New World Marketplace to define how women, youth and multiculturalism are shaping our future. She is a provocative thinker and an insightful strategist who helps leaders and companies capitalize on cultural macro trends and define their brand’s value proposition and sustainable revenue models in today’s fast-changing marketplace.

Of Iranian background, Wallace immigrated with her family to Louisiana at the age 15. She uses the lessons learned by overcoming issues of ethnicity, gender, class, caste, religious, political, economic and lifestyle experiences to shape her vision and keep it alive. She believes in the spirit’s deep desire for freedom, self-determination and self-expressions to maintain an inner authenticity. She leads others to find authenticity within themselves, their companies and customers.

“Her whole life has been a Possible Woman experience!” said Linda Wind, CEO of Wind Enterprises^®, organizer of the annual regional leadership conference. “Her ideas are fascinating and will help makePOWER. PURPOSE. PASSION. Possible Woman 2013 the most dynamic Possible Woman event yet!”

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Unlike new year’s resolutions, most meaningful trends are long lasting, creating long term evolutionary changes.  So this year, instead of adding to your long list of bookmarks of what’s hot and new, I’d like to give you 3 simple key issues that have been of critical importance these last few years that were ignored by most….and still remain critically important in 2013 and beyond.  That isn’t to say that you should ignore trends and forecasts, but instead of staying glued to your rear-view mirror, you need to start using your peripheral vision and address these 3 key issues for your company in a meaningful way in 2013. What better way to predict the future than to create it yourself.  Ignore and blow off at your own peril, but at least take a quick look:

Economy trumps other emotional needs:  The world has been in an epic economic crisis since 2008.  Economic forecasts may vary slightly from year to year, but a full recovery is still far away.  More importantly, economy continues to be top of mind issue for people in general—not just business people concerned about taxes and fiscal cliff, but also consumers who want to know what your company can do to pitch in and make their lives a little easier.  Unless you represent a luxury brand, you should get moving.  You don’t have to be the giant Starbucks focusing on driving job creation through small business loans and housing financing…I don’t know how that program is working for them, but it’s highly visible and talked about.  But at the very least, your marketing campaign should tie-in and relate to your consumers’ needs and expectations during tough economic times.  Economy and price are no longer rational decisions, they are very much an emotional need and decision that needs to be addressed in a meaningful way in your marketing campaign.  Simply dropping your price is as just as dangerous as passing all your operational cost increases to your customers.  Price relative to your competition is a strategic decision that should not only accompany a re-evaluation of your delivery systems, but also a marketing communication strategy that tells the story of your brand relationship to your customers.

Step into The New World Marketplace:  If you’ve ignored my top 3 major macro trends so far, you no longer can afford to do so in 2013.  Women, youth and multiculturalism are shaping our future.  If you were following our recent Presidential election closely, you’d know that despite our tough economy, these 3 macro trends led to President Obama’s re-election.  Women are 50% of work force, 51% of population and control 85% of consumer buying decisions…Gen Y is 3x the size of Gen X, soon to be the majority of work force and your consumers, and the most diverse generation in human history….for every 2 men graduating from college, 3 women are and with better GPAs….1 out of 4 kids being born in the US has a parent who is an immigrant…multicultural population accounted for ALL of the US under-18 population growth in the last decade and in just 12 years (2025) more than half of US families will be multicultural (excerpts from The New World Marketplace).  If you haven’t re-evaluated your target yet, do so now. Are you still treating women, youth and multiculturalism as a marketing niche or segmentation add-on?

Differentiate authentically: Growth of digital communications and technologies have changed the marketing game for some time now.  We are continuing along that path, and there will always be something new every hour–and that’s not a new trend in 2013.  Your consumers have so many choices, so many alternatives, and so much control, and they see the world so noisy that they can’t hear or see you.  They are in hot pursuit of truth and authenticity and willing to engage with you if you are.  Differentiation is always a strategic gate keeper for success, but it is no longer enough just to differentiate—because people and companies spin, exaggerate and lie.  So the consumers may not believe you when you say you are better or different.  Proof is only useful if it leads to belief.  You have to gain their trust, attention and engagement by holding true to core values and principles through authenticity and transparency.  Only then, you can change your customers’ beliefs and consumption behaviors…and are ready to chew gum and do social media at the same time.

I know…I know…. I gave you a list too, because I’m a marketer at heart and I want you to open and read my blogs (see I’m being authentic and transparent).  But it’s only 3 things that you should remember….3 key issues that should’ve been addressed by now, and are critical for your success in 2013.

Gen Y is often referred to as the lost generation battered by economy.  One of the great articles, America’s screwed generation, shared great, shocking stats …. but just as the title suggests, painted a dark picture.  Yes, the wealth gap between younger and older Americans is now the widest on the record.  According to US Census, median net worth of young people under 35 fell 35% from 2005-2010, versus 13% for adults over 65.  The older generation not only benefited from good economic timing, but they also are not retiring as early.  Entry level positions are filled with experienced talent pool, making unemployment rates among Gen Y 50% above national average.  Then there is their debt—from student loans to credit cards.  Many stay in school just so they are not forced to start paying their student loans without a good job—or any job—so they incur more debt.  It’s a doom loop, you see?

Inevitably, Gen Y has delayed adulthood in many milestones.  According to a Pew study, one third have put off marriage and kids and a quarter moved back with their parents.  There are other personal and cultural factors at play with this delay in adulthood (see my blog do you really know 20-somethings), but regardless, this can have major demographic implications in the decades to come.  Twentysomething Inc report that 85% of new grads move back with parents to save on living costs while they job hunt.  And when they are finally ready to move out, the prospects of “owning” a home is out of reach for so many.  But home ownership, starting a family and other traditional milestones for adulthood are not life’s starting points for Gen Y.

Sure, no generation has suffered more from the recession than Gen Y.  This has led into assumptions that are now backed by research data.  But the world economy has been tough for a while now.  Many members of Gen Y haven’t personally experienced the economic boom most of us have, or bitter about pay cuts, downsizing or outsourcing.  They are experiencing the new normal in The New World Marketplace.

I see more positive signs amid all these negative statistics.  I wonder how much of our own economic fears we project on to this generation.  This is the unafraid, optimistic, tech savvy, educated, resourceful, and diverse generation who will know what works and what doesn’t…. greatly decreasing the collective learning curve.  Culturally liberal, one third were raised by a single mother … so gender roles are blurred and multiculturalism is the norm.  Gen Y men prove to be hopeless romantics .… young women earn more than men in big US cities ….. young women now top young men in valuing a high-paying career….these are just a few research examples of negative stereotypes when it comes to Gen Y.

Financial success, beyond necessities, is just one part of happiness….probably a small part.  They are committed to find “meaningful” work and pay out student loans versus getting rich.  Unlike previous generations, there is no shame in getting help from parents, but a luxury worth bragging about.  Parental support, technology and rise of entrepreneurism provide this generation the freedom to pursue their hearts’ desires.  And they will.

Despite all the labels and stereotypes (including my own), majority of work force will be filled by Gen Y by 2025—so, the current sluggish job market and steep student loans will not hold them back.  It’s just the timing.  More importantly, it will be about when, where and how work gets done that will bring forth the big cultural change.  And the new values and ideological power of Gen Y will shape our future work force.

Highlights

•          A Definition of the New World Marketplace

•          The 3 Cultural Macro Trends that businesses must embrace

•          Implications of Cultural of Shifts for CEOs and their businesses

•          The Importance of Redefining Your Target Customers

•          The Key  Things That Companies Need to do Do to Succeed in Today’s Economy

•          How to Create a Cultural and Emotional Connection with Target Customers