The Lisbon Leadership Exchange: USA and Europe in Focus

April 1st | ISEG – CGD Auditorium

Sponsor: ManpowerGroup | Co-Organization: ISEG Executive Education

Our Takeaways:

Keynote Speaker: Paulo Macedo, CEO of CGD:

Portugal’s Challenge

In Portugal, large companies represent only 1% of the total enterprises, yet they account for around 22% of employment and 40% of added value. One of the main challenges for Portuguese businesses is achieving scale.
In the United States, there is a clear approach to fostering business growth, particularly through a robust capital market that serves as an alternative to bank financing. “In the U.S., there is a strong capital market, which becomes an alternative to the banking sector,” he highlighted.

Innovation, Regulation, and Global Leadership

Innovation capacity is another crucial factor for business success. According to Paulo Macedo, “The U.S. innovates, Europe regulates.” This mindset difference directly impacts European companies’ competitiveness compared to their American counterparts.

Structural Differences Between Portugal and the U.S. and Their Impact on Strategic Leadership

Portugal and the U.S. present significant differences in structural factors that influence leadership and business competitiveness, including:

• The value added per hour worked, which is significantly higher in the U.S.
• The size of the public sector in Portugal, which affects economic efficiency.
• The remuneration of public administration and public company executives, which hinders the attraction of qualified talent.

The Need for Execution and Continuous Innovation

Portugal faces a constant challenge in executing strategies and projects. “You may think we’re doing well, but others are moving – it’s called competition.”
Additionally, there is a tendency toward poor execution quality, which compromises the country’s competitiveness. Effective execution is crucial for business development: “Execution is indispensable. We must understand how to make things happen with businesses.”

Main Barriers to Business Development

Key challenges hindering business growth in Portugal include:

• The lack of skills and qualified labor. “We need 30,000 people to execute the PRR in construction.”
• The shortage of managers prepared to face global market challenges.
• The absence of structured follow-up on business failures. “In Portugal, we don’t know why companies fail! The reasons aren’t analyzed, and lessons aren’t learned from failures.”

Challenges to Strategic Leadership

The economic trajectories of the U.S. and Portugal have diverged. However, Portugal is currently in a favorable macroeconomic context, with growth above the European average. “The entrepreneurs CGD speaks with have very positive perspectives,” he stated.
Another key challenge for business leadership is supply chain management. The current geopolitical scenario requires constant adaptation, making strategic readjustment essential for companies.

Organizational Culture

Employee commitment within organizations is a critical factor for productivity and business performance. Studies indicate that:

• 31% of employees are engaged, resulting in higher productivity and talent retention.
• 55% are not engaged, leading to higher absenteeism.
• 14% are actively disengaged, negatively impacting the organizational environment and causing disharmony.
  Caixa Geral de Depósitos is prepared to support companies in this new economic phase, helping them face the challenges of competitiveness, innovation, and sustainable growth.

João Duque, Full Professor – ISEG:

There Is No Universal Leadership Model

Leadership is shaped by the environment in which we are raised and the microstructures of the market that influence behaviors. In Portugal, a leadership style based on “desenrasque” (resourcefulness) prevails, while different cultures adopt distinct approaches.

Portugal vs. USA: Similarities and Differences

Although cultural differences exist, both countries share a future-oriented mindset. In Portugal, group positioning holds more weight, while in the U.S., a man-oriented and charismatic leadership style is more prominent.

Leadership in the Cultural Context

Studies like GLOBE 2020 show that cultures are classified into 9 constructs and 6 leadership dimensions. However, the distinctions between Portugal and the U.S. are more evident in cultural practices than in fundamental leadership principles.

Joana Santos Silva, CEO of ISEG Executive Education:

The Importance of Intercultural Management

Leading multicultural teams requires minimizing misunderstandings and maximizing collaboration. Diverse teams are more creative and add value but demand greater cultural sensitivity. “Experiencing different cultures has taught me the art of dancing between leadership styles.”

Differences in Leadership Styles

In the U.S., leadership is results-driven, with quick decision-making and direct communication, while in Europe, styles range from participative in the North to more hierarchical and relational in the South. “Punctuality is respect… or an art, depending on the country.”

Best Practices for Intercultural Leadership

To lead in a global environment, it is essential to develop cultural intelligence, practice active listening, adapt to different contexts, and foster explicit cultural dialogue.

Christian Dekoninck, Senior Associate, Management Centre Europe:

Leadership as a Force of Impact

True leadership is about creating impact—both on business and on as many people as possible. In today’s landscape, unpredictability is the new normal, requiring continuous adaptation.

Challenges of Modern Leadership

Leaders now face evolving challenges, including hybrid teams, Generation Z, digitalization, AI, and the need to seize immediate opportunities. To succeed, they must embrace disruptive change, analyze data strategically, and capitalize on emerging opportunities.

A Leadership Model to Maximize Performance

Effective leadership balances four key pillars: Business, Processes, People, and Customers/Market. Selecting the right leadership drivers requires assessing multiple factors, such as company history, strengths and weaknesses, competitive landscape, available talent, and existing gaps.

Pedro Amorim, Enterprise Sales Director, Manpower Group:

Accelerated Transformation of the Workforce

The workforce is facing new dynamics driven by technology and the acceleration of global changes.

The New Normal in the AI Era

Uncertainty and complexity demand continuous digital transformation, with new organizational structures and business models. To navigate this reality, a human-centric AI strategy is essential, based on understanding potential, redefining roles, and skill development.

Human-Centric Leadership

A people-focused approach promotes employee commitment, drives innovation, and strengthens organizational culture, ensuring alignment with company values.
“Now is the time to adopt a people-first approach that shapes the future of work.” – Jonas Prising, Chairman & CEO of ManpowerGroup

About the Event

Program:

14h15 | Registration
14h30 | Welcome remarks
-António Martins da Costa, President of AmCham Portugal
14h40 | Opening: ‘Strategic Leadership: Portugal vs. America’
-João Duque, Full Professor – ISEG
15h00 | Leading in Europe: What Works, What Fails, and Why
-Paulo Macedo, CEO of Caixa Geral de Depósitos
15h45 | Coffee break
16h15 | Leading Across Cultures: The USA-Europe Perspective
-Joana Santos Silva, CEO of ISEG Executive Education
16h35 | What Leadership is for: An American Overview
-Christian Dekoninck, Senior Associate, Management Centre Europe
16h50 | The Talent War
-Pedro Amorim, Enterprise Sales Director, ManpowerGroup
17h05 | Conclusion

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