Talking Heads: Team brain-storming the way to go

Name: Frances Stead

Role: managing director

Company: L'Oreal NZ

Age: 44

What makes your day at work?

The thing I get a personal buzz out of is if we've had a brain-storming session. I'm a believer in people getting together, bouncing ideas around and talking through an issue.

I don't believe that any one person is the only one that can have good ideas or make good decisions, so I love to have sessions where there are three or four of us and we go off on a tangent. It's really about sharing ideas, trying to stay very open- minded to an angle someone is bringing to you, and hopefully coming up with a more innovative, less predicable answer as a result. If I feel we have done that, then I get an amazing buzz out of it.

When did you first become a manager?

My father was in business and had worked in a big corporation in various roles up to senior management. So business had always appealed. I thought I would give it a go and went into marketing at university. I got my first management position in marketing a couple of years after that.

What has been your best moment in business?

I'd have to say the corporate billboard we put up in Queen Street. This was the biggest billboard ever in the Southern Hemisphere. I used up our total corporate advertising budget for the year on it. It made all the national news programmes, newspapers around the world and it got us great public relations. It was a big gamble that paid off in spades.

What is the most important lesson you learned on your way up?

That you can make an enormous leap forward if you come up with something that is more innovative and probably more risky but less predictable. You can only make small steps forward if you do the predictable, logical approach. You have to have both but I think the most important thing for me is not being frightened of doing something different.

How have you dealt with the pitfalls in your career?

Well, I've had millions and you can laugh or cry and I believe crying never achieves anything. So if things go wrong then the best thing is to laugh about them. The key is to accept that you got it wrong, learn from it, don't repeat the mistake and move on. You will have grown, learned and matured in your business as a result of it.

What annoys you most?

Managers who don't set good examples of how to conduct themselves. If someone wants to become a manager they must accept the responsibility of that position as well. Also people who don't put passion into their job. I don't mind if someone can't do something, but what really drives me up the wall is someone who can do it but is lazy, can't be bothered and won't go that extra inch.

What will be the big issue of the next decade?

The predictable answer I'm sure is the internet but I think business will cope with that change without a problem because it's a typical business challenge.

Not having the right people heading our businesses concerns me more. Business ethics are absolutely crucial and I think the majority of company leaders have quite high ethics. But this is beginning to change and more business leaders are succumbing to short-term financial objectives at the expense of ethics. I'm also concerned about fewer companies letting their employees be individuals, to innovate, take risks and make mistakes.

If you were starting over again what would you do?

Full-time involvement with horses. That's one of my passions. Although I suspect I would have actually found that a little boring, so maybe I have the perfect balance.

How do you relax?

Relaxation is a bit of a foreign word for me as I lead a very full-on life. I watch about one hour of television a month, and read for leisure only when on holiday.

One way is through family. I've got a super husband and two fabulous kids so I love spending time with them. The little time left is spent with horses.

* Frances Stead spoke to Jillian Talbot.