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Your Network
The key to success With a career comprising influential positions in businesses including Coca-Cola, Vodafone and O2, alumnus Matthew Key (BA Economics, 1984) is now CEO of Telefónica Digital, the innovation arm of one of the world’s largest telecommunications companies. Here, he talks about how University prepared him for the fast-paced world of digital technology. There were two reasons I chose to study at Birmingham. Firstly, I liked the breadth of the Economics course and, secondly, I was a sprinter and 110-metre hurdler at the time and the University had an excellent sporting reputation. I look back fondly on those years, which is why I’m happy to contribute to the University wherever I can. I still go back to the campus to take part in guest lectures and fundraising events and, although I think it’s a fantastic place to study, I see how competitive it is these days. Business is always a good subject to study but I know how tough it is for graduates now to get on the career ladder. However, effective business study requires a course that’s responsive to changes the digital age brings. A course that doesn’t take into account the impact of digital and mobile technology and the increasingly international nature of business will quickly become redundant. I consider myself very lucky to have had a career that developed beyond my wildest dreams. I’d like to say it was all due to making inspired decisions, but I’ve taken some risks that have paid off.
True, risk can sometimes lead to failure, but it’s important to fail. If you fail, do it fast and learn quickly from the experience. But if you succeed, accelerate what you’re doing and invest.
‘...digital technology has the power to change business, and society, in so many ways.’ Digital technology has meant that never before in the history of Mankind has an individual had the capability to impact so many people’s lives so quickly. When I’m deciding which solutions are the ones to support, I need to make decisions based on fact, instinct and insight. Fortunately, the digital world moves so quickly that you can access customer feedback and take-up almost immediately, which enables you to make fast, insightful decisions. The speed of change that can be achieved is mind-boggling and digital technology has the power to change business, and society, in so many ways.
Graduation day, July 1984
Take Latin America, for instance, where 60 per cent of people don’t have bank accounts, but 100 per cent have mobile phones. This makes the potential for mobile technology incredible and within Telefónica Digital we are at the forefront of unlocking this potential. The world has never seen a period like this before.
‘...signing the exclusive O2 two-year contact with iPhone. That was an amazing win and it changed the mobile phone industry forever.’ Moving from heading up Telefónica Europe, the parent company of O2, to setting up Digital from scratch has been one of my career highlights. It was a risk, but then again, so too was leaving Vodafone to go to O2. Back then, O2 (or BT Cellnet as it was called then) wasn’t well known, but within five years, we had reinvented the brand and become the market leader. Telefónica’s acquisition of O2 in 2005 (then the largest cash deal in Europe) was a huge vindication of the steps we’d taken to turn around the business. O2 played a big role in my career and brought about two of my other career highlights; namely, taking the decision to turn the Millennium Dome into The O2, which is now the world’s most visited indoor venue, and signing the exclusive O2 two-year contact with iPhone. That was an amazing win and it changed the mobile phone industry forever. I continue to love my work and that’s so important. If you’re unsure of what direction to take, follow your passion – when you’re doing something you enjoy, you’ll always do it better.