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change lives change lives change organizations change organization change the world I'm very very very very happy to be with you today for different reasons first of all because Stanford University is for sure one of the uh best excellence
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Point University Center in the world and is always good to be in the center of the world second because when the dean and thank you for your word I remember when I was uh in my first life I was as a Ferrari manager racing in Johannesburg in the calami circuit in the early 70 but
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second reason is I was just I was a student at Colombia University just a couple of years ago and so I was thinking when I was there five years ago I took my I was in university because I'm younger at what you can see in my face and and I hope you don't waste your
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time listening at what I'm very pleased to tell you and third reason is because I have to take care since the beginning of the CLI of the future so I put a small table outside in which you can you can make just a signature and you can
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have a Ferrari in a couple of years so you have time to gain money and to be and this is really I hope you can do it talking no I was serious but talking more serious I am prepared I was prepared to give you my my vision of what leadership means
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today because this is very important and I hope my hope is that when you will come out from this room you can have some small motivation some small ideas and some small examples that can be useful for your future but when I was listening at Jordine I
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say maybe I have to do a mix between leadership and Ferrari without make promotion to Ferrari but who knows but it's always but mainly to give you an experience not theoretically theoretically but an experience that uh in which I really I'm in touch with
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everyday problems in a small but believe me fantastic uh company I'm always say to my people and not only to my people well behind fantastic products whatever the products are you need fantastic people very easy to say difficult to do and when you say we say
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you know uh I receive sometime journalist coming from all over the world in which and they ask me what is the secret of the success of Ferrari I always answer our products our people our clients and I look the face of this journalist listen I came from I don't
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know Hong Kong Tokyo or what to listen at this stupid answer that is not a stupid answer because Behind these three elements products people clients there are many many subtitles in which that the very very important I want to say crucial in every company uh and
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particularly in Ferrari to be leaders means in my opinion mainly again three key elements and you know you can have a fantastic football player but they are not good trainer fantastic journalist that are not absolutely a a good publisher this doesn't mean that a
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leader can be um can have a 360° know how a leader in my view needs three key elements number one passion uh behind the red color of Ferrari there is Passion there is passion in what we do there is Passion looking ahead there is Passion looking
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at many opportunities that every day comes from all over the world so passion is the secret of our job and when I mean passion is not a theory passion means to be creative to look ahead to have also the capability to be the first client of your
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product passion second means Vision vision is a something crucial for for your people my job is to put my people in the best conditions to succeed and to succeed you need to give them clear goals clear priorities I insist on the word priorities because you can give 100
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goals it's better to give two goals and Achieve these two goals priorities give them the possibility to understand that that when some of you as I hope will come to work in Ferrari maybe you enter in Ferrari because you think to do to be an
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engineering electronic or to be in the aerodynamic or to be in the management group or to be I don't know but but maybe after a few months or maybe a couple of years we have to understand that your attitude is far better in a different rule like in a the footb
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football team that maybe in the rules where uh that you have hired from Ferrari so when I mean organization I means clear rules clear responsibilities clear goals and give to everybody the possibility the capability that if is good he can grow up my biggest success
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is to see a young student coming in Ferrari and today maybe the CFO or he's the the the the overall sales manager or something the internal growth growth is the most important success for a leader but to do this you need to put your
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people in best condition to suceed training open windows we are in maranelo maranelo is a fantastic place in which not the same environment of San Francisco one between the other is the the weather but is a small place good quality of the life good food maybe too
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much H maybe too much so I have to take care also sometime not to exceed and very inside Maranello from The Foundry until the cars be ready to be shipped all over the world we do everything inside this is very important for the human relation is important for the time
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Market very is important because I want to take a decision at 9 :00 in the morning even 88 8:00 and I want to see the application before 12:00 this is the biggest advantage of a company which dimension means quick decision rapid decision very rapid tied to Market
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everywhere third when I mean passion vision and third you have to be very demanding you need you have to put your people in condition to be I don't say aggressive because it's not the correct word but to see to see very I want people that comes in my office with
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proposals with ideas with very good ideas particularly with the workers because we have 3,000 person they are not numbers each of them has an important rules each of them has to uh can can show first of all to himself and then to us that they are good they is in
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condition to solve problems and also to be creative you know one of my biggest satisfaction in my professional life was when in two in 1998 if I remember correct we have won a financial time important prize the best place to work
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in Europe in term of quality of the life in term of motivation of the people in term of to be proud to work for one company but this means work behind this and this means also the capability for a leader to take risks and risks are in three directions first of all take
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decisions important decision looking ahead never looking back I mean Ferrari is a very Innovative company I always say I want to maintain the link with with the past with the tradition with the history but I don't want to be in the prison of the history of the past I
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want to be in the prison of the future this is the reason why looking ahead the 360 degrees and when I mean looking ahead of course technology product process of course but looking ahead means new organization means always to be Innovative in why in how we organize
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the factory looking ahead in term of marketing looking ahead in term of how we approach new markets looking ahead in term of open the window to the world because I don't want to be in the prison of maranelo I don't want that one of the
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plus that we have got the environment quick decision all together can become a minus so is important to have open windows on the world how through the suppliers I want the best suppliers in the world they can give me technology they can give me experience they can
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give me ideas few suppliers but very very Innovative relationship with a with the research center even crucial relationship with universities few but important Innovative University and when I mean Innovative again I don't want to
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say Innovative only for Technologies you know for me Technologies is bread and butter if we don't have Innovative technology if we don't to look ahead is better if we change job for me Innovative Innovation means innovation 360° Innovation to open mind of our
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people Innovation again everywhere but at this point the rule of the leader is important when I mean taking risk I always say to my people listen if I have one number one in a I I want to have good number one in every single department but if I'm a young boy
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very good that I'm a number three I said listen what I do in a in a company not so big I have a number one that is very capable young fantastic but I'm a good number three I don't like to be the number three or even the number two for
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the rest of my life this is something important in the organization you have to take risk and sometime to appoint a number three as a number one you take a risk you look ahead but if you succeed you have a young number three that is a fresh air and is better than a
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traditional number one I don't know if I was clear enough take risk for a manager for a leader means not only to to be very demanding with your people but also to take risk in term of appointing new people to let them growth inside the company and then of course then of
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course meritocracy is a key point we are present in 60 different countries in the world United States is by far since 50 years our largest market but at the end of this year gray China will be the second UK is the third Germany is the third UK the
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fourth I'm saying this just to give you an idea of what does it mean we cannot pretend to control 60 countries for Mar from marinel but from the other hand I want to maintain the exclusivity of Ferrari Ferrari sells more or less more or less
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7,200 cars in the world but maintaining the same numbers in the each countries our growth is due to the growth of the market 10 years ago China was small Emirates was small uh today there are very important so our growth in term of numbers in term of volumes is totally
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related with the growth of the number of the markets but we maintain the same exclusivity and again the three key elements of Ferrari are designed Ferrari has to be beautiful like a good-look girl when you see her then then then the
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difference is the following because maybe when you go out for dinner with this good looking girl you have a big delusion but with second point when you start the engine of Ferrari you have the big enthusiasm so if you put the Beauty and the it becomes a fantastic
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product and when you open the the the engine you have the music of the engine and this is something important because we don't sell a car we sell a dream when uh in 1994 we have sold our F first Ferrari in China I wanted to meet our first client he came to
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Maranello he was a guy at that time about 50 55 years old said listen you want to do a lap in our truck say yes yes so he did one lap and beside our um test driver and did one entire lap of the furano TRU our private Tru is more or less at 3 kilm without a change gear in
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first gear and and and the test driver was poor guy said listen he said he came to me said listen Mr President I didn't I was not allowed to change myself the gear for himself so I was there hoping that the engine didn't blow up because
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one then he came to have lunch with me I said listen he was ready to eat a Chinese food I said listen I organized nice Italian food he was so happy tortellini pasta he was so happy said can I ask you why you have bought a Ferrar in China as a first client and he
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was a very nice person he told me you know I come from a very poor family my father was um uh on the boats commercial boats good boats around the world once he came to China with a book and inside this book of a car book cars book and I've seen this red car and I told to
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myself listen as soon as I will I will have money and I will have money because I I know that I will succeed in the life I will buy a Ferrari so you know uh for me this is a good answer when they say we sell a dream not only a car because when you
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drive a Ferrari you have first of all to feel emotion of driving and emotion of driv driving is a mix of different elements that are very key marketing elements the music of the engine one of the most important movie classical movie director
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came to buy his Ferrari in fiorano in maranelo and then he said okay I said listen do you want that I ship your car to the he was going to Berlin for a concert do you want I ship the car to Berlin so you are you kidding he don't know I want to drive myself the Ferrari from
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here to Berlin because listening at the engine music I am concentrate of my music so you know these are elements for us the the the the the the the particular elements are crucial are crucial in the music of the engine are crucial in the technology are crucial in
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the design are crucial in the Interiors are crucial in the introduction of new colors are crucial 360° and to be as I am so Keen to the U particular particular I need PE I need people that follow this so going back to the three key elements of Ferrari is
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beautiful and this means a design design means to maintain an important filler Rouge with the past I want I always tell to my people when we discuss for the wide page and this is the best moment because I can tell to my people what
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kind of product I want and then I tell listen I want a car that even without the Ferrari uh brand the Ferrari pressing horse in the front if you see this car in the square in Stockholm in Los Angeles in Rio de Janeiro or in Johannesburg this has to be a Ferrar so
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I want to maintain what we call a little bit family feeling from the past to the Future elements details these are crucial details these are crucial in the design is very easy or is not so difficult to do a car very very Innovative a shock that after two years
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you getting tired with this car but it's far more difficult to do an Innovative Evergreen car this is important and I was very pleased to see outside a car that one of your colleague is lucky enough to have a old red datona a car of
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the 60 and the car of today the 458 Italia fantastic car I uh I give you some details so you can be ready to buy this a car no no I'm not here to sell but I'm here to let you dream [Applause] so and with all my heart I hope that your dreams will become
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reality um so design is something extremely important because again as I said before the first approach with Ferrari is with the design again I don't want to repeat a very popular example as a good-look girl is the first approach for all of us now the second point is
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technology again when you start the engine you need something unique yesterday in Beijing we have announced the first Ferrari that we will present at the end of the year with the cures with so you we recuperate energy through the braking this means 40% less CO2
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emission so ecology and means a boost but because when you push again the accelerator you have green uh energy but very strong for acceler ation for me technology is Extreme technology and in this sense we are the M winning team in
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the history of Formula 1 we have started in 1951 July in Silverstone Tru in England and losing or or winning since 60 years a red Ferrari is always there at the start of the formal one Grand Prix this is for me the must import Advanced Research Center and we have
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transferred technology very often from Formula 1 to our road cars we have been the first to introduce what I call the Formula 1 gear box it means a clutch without clutch like a video game that you can change the gear without um change put maintaining the steering the
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steering wheel with the hands and we will launch this curse it means hybrid car but with huge huge performance for me technology is 360° technology and means safety means Innovation means also the capability to look always ahead last
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year we have introduced the first Ferrari never made four-wheel drive but this is a normal not the normal four-wheel drive and I respect the German cars they are fantastic perfect like they are like a freezer everything perfect everything perfect but beside
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the technology I prefer the red technology because is a hot technology there is Passion behind maybe sometime you can have a small problem but it's better to have sometime once per year a small small problem instead of the freezer so so with all the respect eh
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with all the respect because I have to say that I think that Porsche after Ferrari is the best car very good car I respect and I I respect particularly I like the respect this the the B2 the second the third for me is perfect I will be more difficult if they
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will be the first so we are there so I respect a lot now now talking quite serious you know technology means not maximum speed we don't care anymore of maximum speed you can have a small car with 36 300 kilm per m per mile this is not a problem the problem is
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acceleration handling safety timing of breaking I love cars in which even you have very very quick you can break in a very short time I like emotion of driving and this is thanks to the technology I mentioned to you the four-wheel drive is not a normal
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four-wheel drive this is four-wheel drive is a car four seats this is not I'm sorry I don't want to promote this is to to tell you something is a car four-wheel drive with 660 horsepower is a racing car but the is not fixed the four-wheel drive the
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car when the car needs more grip automatically through um a computer center in the car through a electronic when that the car needs more grip automatically the car have a grip is a bumping asphalt heavy rain ice snow so it means that we can save a lot of uh
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weight because for us weight is like horsepower in the engine less weight more performance and also more safety in term of braking and so and so so first of all is design second is is technology and third is what I call innovation in
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term of products Innovation is colors Innovation is the Interiors Innovation is also uh a lot of uh elements that we put on the car and going back to the leadership you know the dean was kind enough to say at the beginning of 90 I came back to Ferrari after my racing
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experience in the 70 and I felt that since ends of Ferrari passes away Ferrari was like a big actress very famous actress unfortunately without receive scripts and offer from the produc from the movie producer mainly because Ferrari was in
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the prison of the past instead a look ahead and looking ahead means means also for a leader to have sensibility of what is going on in the worldwide market today thanks to our presence in 60 markets we have to anticipate the trends we don't like to be a follower and to be
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to anticipate you have to be curious you know sometime uh I give to my people female or fashion magazines say listen this must became crazy to give an engineering this is to give them the feeling of the colors of the advertising of The Taste around the world because we
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are a mix between luxury products we are a mix between Nike shoes we are that is not a luxury product but is a product with Innovation design material and we are a mix with a high high technology product and um now to to make the story
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shorter I'm sorry because I would love to give you so many example to talk a lot but I don't want to take too much of your time uh I try to put myself in your position you were listening at a person like me that unfortunately is very young inside but not very young
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anymore very much if I can give you some suggestion I am not a teacher I try to transfer to you my passion my experience my mistakes my good things because in the life to take risk means sometime to make mistake but I prefer people that take risks
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making mistake before instead that people that is always without taking risk looking ahead and have proposal creativity and ideas I think that the globalization today is a huge huge uh element if I look at this room I see young people coming from all over
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the world so from one side these universities has to be proud for the level to have here people coming to to to learn to be here from coming from all over the world from the other side I think that many of you will be back to your countries with a good experience
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knowing good know how and I'm sure with ideas today if we look at the word I have been chairman of Fiat for eight years and I was used to go very often to Brazil Brazil we are market leader is a fantastic country 10 years ago not 20 10 years ago Brazil was very well known in
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the world for soccer Carnival and girls I'm sorry but this is a a picture no I'm not sorry this is a picture today Brazil the growth of the Brazil is with two numbers every year innovation technology young people fantastic country I don't want to
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mention China because we always make the example of China so this is natural and I'm happy to see Chinese students here because they will go back to their fantastic country with America experience with this fantastic country I think maybe the best thing I did in my
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life is to study at Colombia because I was in touch with America with democracy with the sense of state with the capability to look ahead with the capability to open doors to everybody this is some something unique in the world so if we have if I have to give
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you some small advice be curious be curious open your mind to the word reading looking at the television iPad might not exceed because if not you spend all your life looking at your iPad and this is something important Technologies are crucial but be careful
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because technology can have a big risk to equalize the people in term of be using technology I want people that can control that can handle technology they can use technology but they are not used by the technology so behind um a iPad
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behind the computer behind the electronic the Manpower is crucial the Manpower is crucial you have to control you have to use you have to drive your technology in the direction that you are looking for but you have not to be dependent or even more driven by the
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technology and the second element is when I mean curiosity is globalization gives a opportunity it's not only question of job opportunity it's question of mentality mind opportunity ideas from New Markets the ideas how can you be good
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can you approach a new market in term of products this is nothing to do with Ferrari nothing to to do with cars every kind of product every kind of product and when I mean marketing of idea is the capability to use your days your month here in this
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University to take off as much as you can I think that we are race it we are doing a race in which we are the pilot and to do a poll position it means that we have to take off take out from ourself the maximum to succeed and so you know I think that I hope that U at
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the end of this uh small uh Speech you can share with me that we have fantastic opportunities we have to believe in ourself we have to be good you have we have to be very determinate we have to be very demanding with ourself we have to be very demanding with our University
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we can learn from our uh roomm made of not only from our professor professors a lot of things but please again with all respect of a German technology passion hot technology hot passion with inside all of you thank you for your attention thank you very
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[Music] much [Applause] graduate school business um I from where are you it tell from where trento trento ah very good um I can't tell you how proud I am uh that somebody from my country could come here and give an amazing speech
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about leadership and opportunities and hope uh for the Future Would you talk a little bit about what it's like to lead a company in a country where the political environment is kind of turbulent and the General culture for uh entrepreneurship is not as open as it is
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here in the in the valley thanks well this is a good question because it gives me the possibility to transfer to your an experience that I've got yesterday as I'm sure many of you I've been always astonished from the development from nothing of the what we
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call Silicon Valley and I was always a curiosity why here because with all the respect United States is Big why here and yesterday I've got two hours of a very interesting and human on the human and professional point of view with Mr Tim Cook the chief of
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apple and I like to transfer to you something that I learned yesterday because you know what what is important in the life when you go in the bed in the night because we have to go bed soon or later in the night unfortunately or lucky to is theend um
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to have learned something during the day yesterday as today because you know for me to be here and to be lucky to see young people like you that for I don't know how much 20 minutes half an hour I don't know how has been so put so big attention for me is a big satisfaction I
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want to thank all of you for this for my for myself and yesterday I took two lessons from these guys from uh cook and from Ed Co and Eddie Co first of all Simplicity you know sometime when in Europe you meet with so some big chairman a big hero of
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management you have to be careful because they are very uh proud of themsel they think to be the champion of the world you know I like the Simplicity that is not only way to address the Simplicity in the behavior to be in touch with you to talk with you to
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transfer to you ideas experience and know how Simplicity second who is there second the passion for the work and you see the passion when you go around a campus I incidentally to the I want to say to to your Dean that I thank again I would like to find a way I don't
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know when and how but I will be very very happy and pleased to find a way to organize a couple of days in Maranello with some students you will find a way the best but Mr Dean you have an official invitation I would love to do your
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business your job because I think is a fantastic job there are many fantastic job but but in the next life I will make them the right choice for the moment I'm happy of mine but to find a way and I'm happy to contribute because I I think
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that in the globalization to give the students the possibility to touch with their own hands products organization like for me yesterday to see the campus to to see the product to see how they work because I'm I'm fundamental I am an organizer I'm not an engineer I'm not a
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technician I'm not a very good Financial guy but my bu my job is to and second point the passion in how they handle not only the business not only the technology not only the products but the people and third I took another lesson yesterday
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that when you have got a leader in a company like your like Steve Job is very nice to see people that has been in the company with him for a long time respecting him and having a big respect and big gratitude for what he has done because thanks to his job now they are in
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condition to be there this is very important is a mix between human elements and professional El so to answer to your question I appreciate Apple particularly because they are very close to Ferrari brand the the apple and the pressing
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horse attention to the brands exclusivity they don't do many products four family of products they do not have many hundred different products attention to the people attention to an environment and also from copertino from the headquarters they control the entire
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world as we do in Maranello so different example but a lot of links together so thank to Mr cook for the Fantastic experience I got yesterday second question um [Music] here no from one side I'm very happy to receive question from the Italian from the other side I have the doubt there
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are all Italians here or I'm um I'm I'm not Italian I'm Spanish um ah so from where uh I'm passionate about the sports and and I cannot help ask you about Fernando Alonso and uh some leadership threads you have perceived in your relationship with him
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along all these years that's my question no this is a good question I incidentally in my way here a couple of hours ago I received a CO call from a fantastic leader that is Emilio botin from Spain he has been a guy that from scratch he has created The Number One
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Bank in Europe Bank of santand there and also because he's a Ferrari sponsor so I always say he's the best in the the world the best company the best brand the best bank fantastic job fantastic job you know this is a good question
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because I've been used in my career to be in touch with three fantastic drivers with many but these are three super in the 70 nikil laa from Austria he won two championship with us and he has losen the third for half point because he was burn in an accident
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so he was unfortunately he he lose few races and few points the second is Michael Schumaker from Germany he won with has four championship title and he has entered in the Ferrari in the Ferrari history and the third is Fernando Alonso to to be leaders in Formula 1
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means not only to be a good driver to push in the race this is crucial to be leader means be close to the team work during the week and not only in the race weekend be maniacal maniaca how you say in English Maniac in the details everything because in a competition in
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which you can win or lose for half tenth not for half seconds for half 10 you need to be absolutely concentrated in every single details that is again is not only the details in term of performance because of course you have to look very carefully how can improve
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the start I can improve the handle of the car I can improve the P stop it's but to be a leader because Formula 1 is really a team work and I forgot to tell you because I don't like to read my speech was because I have everything here first of all and here team spirit
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is very important in every kind of job I don't believe anymore in the onean show I don't believe it in the politic I don't believe this in the business I need I believe in a leader that can put together people in my life I tried all
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the time to have with me people far better than me better than me and I always push my people don't be jealous don't hire middle level people if there is a young guy that is a huge potential you have to be like a good trainer put
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him in the best condition to succeed not be jealous to succeed team spirit is fundamental let me give you one important example in term of management we are here today is 24 am I right uh today of April Wednesday in this moment I have five or six different big teams
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in inside the factory working in a different areas if I look at the competition only competition and forget Road car that at the end of the day for us is even more important we have a team of people that is working day and night 24 hours per
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day three turns in the wind Channel to improve this bloody car that is not as competitive as I wanted at the beginning of the season 24 hours per day three turns people with aerodynamic knowhow a second team is working how to improve the mechanical area of the cars when I mean
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mechanical I mean engine gearbox or suspensions a third team is working for the car that we will have in the second half of the season so nothing to do with the tomorrow race or after tomorrow for September October November totally different department and another
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department is working for the next year cars it means different people different groups but working together with the coordination and if I think what we are doing at the moment in the road cars AC ity new models new technology um um suppliers a lot so team spirit is
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important Fernando Fernando is a driver that has two is for me is at the moment particularly in the race the number one in the world because he's able from the first lap until the last lap to have the same time like a qualifying time
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fantastic but but the two big strengths of Fernando is he always is positive even when he has a not competitive car he push the teams he's confident he gives them support and giv you give you are the best you we will succeed and the second attention as a maniac of the
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details when we have losen two years ago in a bloody race in Abu Dhabi for half point I don't if I think again I go away say thank you very much the ra the championship after the race I went to the pit and I see all my people crying
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like a child because to lose at the last race in that way and Alonso that lose he was the first to lose went to every single mechanic and said thank you for what you for what you did we will succeed next year count on me this is very important it's the same thing that
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a leader in a company has to support has to be demanding if there is somebody that doesn't doesn't like to work is better to find another job there is a very easy way give me a small letter in which you resign and I'm happy if you don't like but if you like my goal my job my
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activity is to put you in the best condition to succeed and Fernando is a fantastic driver and I'm happy to have him in the team thank you very much [Applause] change lives change lives change organizations change organization change the world