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A Recipe For Winning Leadership

A Recipe For Winning Leadership. Pro fessor Sydney Finkelstein Tuck School of Business at Dartmouth Telephone: (603) 646-2864 Fax: (603) 646-1308 sydney.finkelstein@dartmouth.edu. A Recipe for Winning Leadership. Help Make Other People Better. A Recipe for Winning Leadership.

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A Recipe For Winning Leadership

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  1. A Recipe For Winning Leadership Professor Sydney Finkelstein Tuck School of Business at Dartmouth Telephone: (603) 646-2864 Fax: (603) 646-1308 sydney.finkelstein@dartmouth.edu

  2. A Recipe for Winning Leadership Help Make Other People Better

  3. A Recipe for Winning Leadership Help Make Other People Better

  4. Start With Vision Why do you exist as an organization?

  5. Start With Vision How did Apple become … Apple?

  6. Start With Vision We believe that we are on the face of the earth to make great products.

  7. Start With Vision • We believe that we are on the face of the earth to make great products. • We are constantly focusing on innovating. • We believe in the simple not the complex. We believe that we need to own and control the primary technologies behind the products that we make. • We believe in saying no to thousands of projects, so that we can focus on the few that are truly important. • We believe in deep collaboration and cross-pollination, which allow us to innovate in a way that others cannot.

  8. A Recipe for Winning Leadership Help Make Other People Better

  9. Add in Strategy Q: What do you do for customers? A: We help them solve their own problems better than others can.

  10. Strategy is All About Value • What is value? • Where is it migrating? • What value do I bring to customers today? • What value will I bring to customers tomorrow? • How do I know how valuable my core competencies are?

  11. A Recipe for Winning Leadership Help Make Other People Better

  12. Build Strong and Diverse Teams

  13. A Recipe for Winning Leadership Help Make Other People Better

  14. Learn How to Make Better Decisions

  15. Why did Dick Fuld refuse to sell Lehman Brothers … until it was too late? • Why did so many bankers embrace subprime? • Why did so many smart people invest with Bernie Madoff? • Why was the federal government response to Hurricane Katrina so slow? • Why are hundred-year-old newspapers going out of business? • Why did leadership at Tokyo Electric Power respond so tentatively to the nuclear reactor breakdowns? Why Do Good Leaders Make Bad Decisions?

  16. Our Brains Are Wired for Action “One Plan at a Time” “Emotional Tagging” “Blink” People make quick decisions, and often it works.

  17. US Airways Flight 1549 Captain Chesley Sullenberger

  18. US Airways Flight 1549

  19. Four Red Flags in Decision-Making • Are your personal experiences misleading you? • Is your personal self-interest clouding your thinking? • Have you made a dangerous pre-judgment that you are locked into? • Are inappropriate attachments pushing you in the wrong direction?

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  21. 6:00pm Broderick issues report to Chertoff: “levees not breached” – goes home 8:13am Broderick suggests 6am report may be exaggerated 2:30pm Broderick confirms levees breached FEMA highlights concerns: New Orleans is below sea level Friday Monday Saturday Sunday Tuesday Katrina hits: First reports of levee breaches 8.30am 6:00am Broderick’s staff report: “multiple breaches, downtown flooded” 23

  22. A Recipe for Winning Leadership Help Make Other People Better

  23. Learn How to Learn From Mistakes

  24. “The disaster was caused by organizational and safety deficiencies at all levels of the BP Corp. Warning signs of a possible disaster were present for several years, but company officials did not intervene effectively to prevent it.” - Report of the US Chemical Safety and Hazard Investigation Board

  25. “The disaster was caused by organizational and safety deficiencies at all levels of the BP Corp. Warning signs of a possible disaster were present for several years, but company officials did not intervene effectively to prevent it.” - Report of the US Chemical Safety and Hazard Investigation Board Report issued March 20, 2007

  26. “The disaster was caused by organizational and safety deficiencies at all levels of the BP Corp. Warning signs of a possible disaster were present for several years, but company officials did not intervene effectively to prevent it.” - Report of the US Chemical Safety and Hazard Investigation Board Report issued March 20, 2007 for BP’s Texas City Refinery Explosion in 2005

  27. Why Smart Executives Fail Organizational Breakdowns Executive Mindset Failures Leadership Pathologies Delusions of a Dream Company

  28. A Recipe for Winning Leadership Help Make Other People Better

  29. Making Other People Better • Leading Writers/Producers in Comedy • Tiny Fey, 30 Rock • Larry David, Seinfeld • Albert Brooks, Looking for Comedy • Billy Crystal, 76th Academy of Awards • Adam Sandler, The Waterboy • Mike Judge, King of the Hill • Greg Daniels, The Simpsons • Rich Blomquist, Daily Show with Jon Stewart • John Bowman, Murphy Brown • Vanessa Middleton, Cosby • Dan Aykroyd, Blues Brothers • Greg Daniels, The Office All worked for Lorne Michaels, SNL

  30. Making Other People Better • Leading Executives in the Casual Restaurant Industry • Richard Rivera, CEO, Longhorn Steaks • Tim Gannon, SVP, Outback • Rick Federico, CEO, P. F. Chang’s • Wally Doolin, CEO, Buca di Beppo • Others: • Mike Jenkins, Vicorp • Jeff Shearer, Boston Market • Bob Bashan, Outback • Hal Smith, Chi-Chi’s • George Biel, Houston’s Restaurants • Richard Frank, Chuck E. Cheese • Lou Neeb, Mexican Restaurants, Inc. All worked for Norman Brinker

  31. Some of the Super-Spawners

  32. Norman Brinker

  33. Lessons from Legacy • Constantly Encouraging Fresh Approaches • “Nothing is sacred, other than that the guest returns.” • Setting High Expectations • He genuinely believed that employees were capable of extraordinary things • Retaining Intimate Contact with the Business • Former CFO reporting “I’ve often seen him pick up a dishrag and bus tables.”

  34. Lessons from Legacy • Looking for Opportunities to Move People Up • He steadily nurtured and promoted people, from kitchen workers to restaurant managers to corporate executives. • Even Looking for Opportunities to Move People Out • Brinkeroften expressed pride that so many chief executives of so many restaurant chains were people who had once worked for him.

  35. A Recipe for Winning Leadership Help Make Other People Better

  36. A Recipe For Winning Leadership Professor Sydney Finkelstein Tuck School of Business at Dartmouth Telephone: (603) 646-2864 Fax: (603) 646-1308 sydney.finkelstein@dartmouth.edu

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