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Replacing oil with ideas - Companies

Replacing oil with ideas – Companies

There are bosses you have to listen to more than others. First, because their words are rare and then because what they say is a gold mine. This is the case of Florent Menegaux, the president of Michelin, one of the world leaders in the manufacture of tires.

In his last interview given to my colleagues from the business daily Les Echos, Florent Menegaux warns politicians against the fact that the explosion of the energy bill could weigh down European industry and therefore force her to relocate. One of my friends, bosses of a very fine industrial company in Belgium, told me exactly the same thing when reacting to one of my columns. He also sent me a very eloquent Financial Times article on this subject, in which we discover that the German industrial giant BASF is clearly saying – very clearly even – that it intends to permanently reduce its investments in Europe because especially the rise in energy prices.

It’s not pleasant, but there are also other ways of looking at things, and this is the case with Michelin. The president of Michelin recalls that when he builds a factory, it is for the long term. And he admits that the current crisis has not made him change his investment plans in Europe. On the other hand, Michelin will seek to accelerate the savings measures already in place. Clearly, Florent Menegaux says that he is gradually converting his gas-powered cooking ovens to electrical energy which, he says, is not intended to remain more expensive. This is where the interview with this boss of a large multinational is fascinating. For him, beyond the unpleasant aspects of the current crisis, we must see this crisis as a reminder. For example, for decades we have consumed cheap energy that was thought to be abundant. He adds that we have forgotten the French slogan of the 1970s, “we don’t have oil, but we have ideas“.

Today, we are finally resting this question of ideas and inventiveness thanks to the savings measures that companies are forced to take because of the rise in the cost of energy. Again, the president of Michelin remains positive, because he believes that this crisis is forcing business leaders to switch software. It forces us, for example, to think and act more locally. For this big boss, all this is undoubtedly a constraint, but it is healthy, he says.

The other interest of this interview is that the president of Michelin does not forget his collaborators. He reminds us: companies have always been confronted with crises, this is nothing new. What is new and exceptional over the past two years is that the crises start, but do not stop, there is an accumulation effect. The covid crisis started in 2020, but it is still here. For Florent Menegaux, this new, more uncertain environment where everything is accelerating has an impact on company employees. According to him, the urgency is to be attentive to their mental load and to do everything possible to support and protect them on a daily basis.

Basically, what the boss of Michelin says meets the best definition that I have been able to find so far of a good manager. a good manager, it is someone who absorbs negative energy and exports positive energy. Employees who listen to this column now know what to do so that their N+1 is never equal to 0 again.

In his last interview given to my colleagues from the business daily Les Echos, Florent Menegaux warns politicians against the fact that the explosion in the energy bill risks weighing down European industry and therefore forcing it to relocate. One of my friends, bosses of a very fine industrial company in Belgium, told me exactly the same thing when reacting to one of my columns. He also sent me a very eloquent Financial Times article on this subject, in which we discover that the German industrial giant BASF is clearly saying – very clearly even – that it intends to permanently reduce its investments in Europe because in particular the rise in the price of energy. This is not encouraging, but there are also other ways of seeing things, and this is the case of Michelin. The president of Michelin recalls that when he builds a factory, it is for the long term. And he admits that the current crisis has not made him change his investment plans in Europe. On the other hand, Michelin will seek to accelerate the savings measures already in place. Clearly, Florent Menegaux says that he is gradually converting his gas-powered cooking ovens to electrical energy which, he says, is not intended to remain more expensive. This is where the interview with this boss of a large multinational is fascinating. For him, beyond the unpleasant aspects of the current crisis, we must see this crisis as a reminder. For example, for decades we have consumed cheap energy that was thought to be abundant. He adds that we have forgotten the French slogan of the 1970s, “we don’t have oil, but we have ideas”. Today, we are finally resting this question of ideas and inventiveness thanks to the savings measures that companies are forced to take because of the rise in the cost of energy. Again, the president of Michelin remains positive, because he believes that this crisis is forcing business leaders to change software. It forces us, for example, to think and act more locally. For this big boss, all this is undoubtedly a constraint, but it is healthy, he says. The other interest of this interview is that the president of Michelin does not forget his collaborators. He reminds us: companies have always been confronted with crises, this is nothing new. What is new and exceptional over the past two years is that the crises start, but do not stop, there is an accumulation effect. The covid crisis started in 2020, but it is still here. For Florent Menegaux, this new, more uncertain environment where everything is accelerating has an impact on company employees. According to him, the urgency is to be attentive to their mental load and to do everything possible to support and protect them on a daily basis. Basically, what the boss of Michelin says meets the best definition that I I have been able to find a good manager so far. A good manager is someone who absorbs negative energy and exports positive energy. Employees who listen to this column now know what to do so that their N+1 is never equal to 0 again.

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