In this podcast episode, the CEO of General Dynamics, Phoebe Novakovic, discusses various aspects of the defense industry and the role of defense contractors. The conversation covers the close relationship between the military and the defense industry, the challenges and opportunities faced by General Dynamics, and the importance of problem-solving and creative thinking in the changing defense landscape. Additionally, the CEO highlights the significance of submarines for national security and the growing importance of cyber and information technology in the defense industry. The episode also delves into Novakovic's background and educational journey, as well as the progress of women in leadership roles. The discussion concludes with insights into the joys and responsibilities of being a CEO, along with a preview of the upcoming Bloomberg Green event, which will focus on climate change solutions.
Takeaways
• The defense industry relies on the crucial role played by defense contractors, such as General Dynamics, in providing products and services to support military operations.
• Consolidation has led to a decrease in the number of defense companies, but the industry remains well balanced considering capitalization requirements and the relationship with the customer.
• Cost overruns are acknowledged in defense projects, but the industry is committed to driving costs down as systems mature.
• General Dynamics has major divisions, including marine systems, land division, aerospace division, and information division, reflecting the diverse nature of their business.
• Submarines are highlighted as a driving force behind real growth in the defense industry and play a crucial role in ensuring national security.
• Cyber and information technology are growth areas in the defense industry, and General Dynamics has been actively involved in the cyberspace for the past 20 years.
• The CEO's background, including growing up in various places and their family's escape from totalitarian regimes, shaped their appreciation for democracy and the United States.
• A liberal arts background, such as a major in government and a minor in philosophy, can instill critical thinking and writing skills valuable in various career paths.
• The progress of women in leadership positions has increased compared to the late seventies, and young women are advised to be part of a team, serve well, and engage in their current roles.
• Being a CEO brings great pleasure in leading a cohesive team and facing challenges, with good character and considering the moral implications of decisions being important factors.
• The upcoming Bloomberg Green event aims to bring together leaders to discuss solutions for combating climate change.
