Women In Business Q&A: Nicole Hollows, CEO and Managing Director of MacArthur Coal Limited

May 21, 2009, 4:26 pmmarieclaire

Nicole Hollows is the CEO and Managing Director of MacArthur Coal Limited, a publicly-listed, Queensland-based mining company

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What is more important, talent or drive?
I believe that both talent and drive are important and you really need both, to some degree, to be a successful leader. It depends on the task at hand, and the more appropriate question is skill versus attitude. Skills and attitude are similar but not the same as talent and drive. The right attitude is most important as it drives you and it is harder to correct or change attitudes, but you do need a certain amount of capability and talent to successfully complete the required job. It is important to note that we can teach and provide the required skills, and I prefer the right attitude rather than skills on its own as you can have skill, but without the right attitude, it would not result in the best or most efficient outcome.

On a scale of one to ten, how significant a role does luck play when it comes to success?
Three. I acknowledge that luck has a part to play however I strongly believe that opportunity is what results in success. You need to sustain success and this comes through recognising your opportunities and grasping them with both hands and running with them.

Which is more critical, the idea or the execution?
Execution. Ideas and execution are both important as you cannot have one without the other. In saying that, you can have the best ideas in the world but the execution is critical for the idea to eventuate. If you can't execute, or have people in your team to do this, then you or your organisation will not be able move forward and leverage off the great ideas.

Is it better to be passionate or objective?
Objective. In order to make sure the right decision is made, you need to be objective. Passion does enable greater ability to brainstorm views and I believe you are better at something and enjoy it more when you have the passion. However, too much passion and not enough objectivity can cloud the right decision due to emotions.

What is most and least important? Please rank your priorities.

  1. Drive
    Relationship skills
    Talent
    Confidence
    Organisational skills


What one trait has helped you most in business?
I love being challenged and taking the initiative to grow individually which has enabled me to progress. This also flows through to my work and the company I work in. If you want to grow or progress in a career, you need to be prepared to take the initiative and meet challenges, otherwise opportunities will pass by. It is also important to take measured risks whether in your own career or business.

What is the one trait that has hindered you most in business?
I would have to say at times my lack of patience. I work at a high level and generally a fast pace, which can tend to make colleagues and or parties I deal with uncomfortable. I am more cognisant of this in my dealings with others and try to take the time to be more diplomatic and patient.

What is the hardest lesson you've learned and how did you learn it?
Making difficult decisions that impact your people. The global financial crisis has been one of the hardest lessons so far in my career. It forced me as CEO to lead the company in making some very hard decisions during a difficult time, and these were not taken lightly. The key is to ensure eceryone understands the reasons for my decisions through constant and consistent communication about the decision made.

What is the one piece of advice you would offer other women in business?
Have the confidence and the drive to ensure you can tackle issues, whatever they are. The result may not be the outcome you want, but you'll show that you are willing to give it a go and seize the opportunity, and it will be a learning experience.

What are the biggest mistakes you see women making in business?
Lack of confidence to tackle issues. Not believing in their ability and seizing the opportunity.

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