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Lessons In Leadership – Episode 2 – Family Businesses
When it comes to family-run businesses, there’s a common saying that the first generation creates a business, the second builds it and the third squanders it away.
Is there any truth to that? Bloomberg TV India’s Mini Menon discusses how best family run businesses survive generations as she speaks to Professor John Davis, Senior Lecturer of Business Administration, Harvard Business School on Lessons In Leadership.
Harvard Business Review: #1 Key to Motivation
In a multi-year study, researchers at the Harvard Business School first asked 600 managers from dozens of different companies to rank the impact of five factors that are normally associated with motivation – recognition, incentives, support from managers and colleagues, clear goals and a sense of making progress. In this first phase of the study, recognition for good work was ranked by managers as the most important factor in motivation.
Leadership in the Ever-Changing World: Reggie Gilyard
Reggie H. Gilyard is the Dean of the Argyros School of Business and Economics at Chapman University. He was formerly a partner and managing director with The Boston Consulting Group, where he led a national practice focused on education. He also served on the BCG America’s Leadership Team, one of the firm’s three regional boards. Prior to BCG, Reggie served as a program manager in the U.S. Air Force, responsible for the development, production, and fielding of global intelligence systems.
A 1985 graduate of the U.S. Air Force Academy with a BS in Mathematics/Operations Research, Gilyard also earned an MS in Computer Systems Engineering from the Air Force Institute of Technology and a Master of Business Administration from the Harvard Business School.
Gilyard currently serves on the boards of the Orange County Business Council, the United Way of Orange County, the Orange County Forum, Pacific Charter School Development, The Broad Foundation Charter management Organization Award selection committee, and The Citadel Foundation.
How Will You Measure Your Life? Clay Christensen
“It’s actually really important that you succeed at what you’re succeeding at, but that isn’t going to be the measure of your life.”
Too often, we measure success in life against the progress we make in our careers. But how can we ensure we’re not straying from our values as humans along the way? Clayton Christensen, Harvard Business School professor and world-renowned innovation guru, examines the daily decisions that define our lives and encourages all of us to think about what is truly important.
Youngest Woman Billionaire Made Fortune Flipping Burgers
The youngest female billionaire in the U.S. — and one of the youngest on Earth — owes her $1.1 billion fortune to flipping burgers, according to the Bloomberg Billionaires Index.
Lynsi Torres, 30, is owner and president of the In-N-Out Burger chain, whose restaurants have earned a following so devoted, says Bloomberg, that customers line up hours in advance of a new store’s opening.
The chain’s fans include fellow billionaire Warren Buffett, who, according to a story on the UCLA Anderson School of Business website, told a group of Anderson students in 2005 that he’d like to own the chain.
Torres didn’t found In-N-Out; her family did. According to the company’s website, Harry Snyder, Lynsi’s grandfather, introduced California’s first drive-through hamburger stand in 1948 in Baldwin Park. His wife Esther handled the accounting. From the get-go, the chain emphasized its use of only high-quality ingredients. Burgers today are still made one at a time and always to order, according to the company. Lynsi became president in 2010.
Bloomberg says In-N-Out has grown to include nearly 280 stores in 5 states, with 2012 sales of about $625 million. Bloomberg bases its $1.1 billion valuation for In-N-Out on the metrics of five publicly-traded peers, including McDonald’s Corp and Wendy’s.
In-N-Out, in response to Bloomberg’s valuation, called it speculation. The company is private, its financials confidential.
In-N-Out, according to a 2003 Harvard Business School case study cited by Bloomberg, has never franchised, which helps it to maintain strict quality control. Consultants Bain & Co in 2005 estimated the chain enjoys a 20 percent profit margin, thanks in part to the company’s focus on simplicity: its menu is strictly limited.
According to the company’s website, In-N-Out expanded into Texas in 2011, after building a new warehouse and patty-making factory in Dallas.
Torres, says Bloomberg, guards her privacy and grants few interviews. In September she bought a 7-bedroom, 16-bathroom mansion near the San Gabriel Mountains, according to Realtor.com. Her most visible presence so far, says Bloomberg, has been on the racing circuit. She competes in National Hot Rod Association races, sometimes driving a 1970 Plymouth Barracuda, sometimes a 1984 Chevrolet Camaro, according to association records.
Authors@Google Presents Gautam Mukunda “Indispensable: When Leaders Really Matter”
Gautam Mukunda is an Assistant Professor in the Organizational Behavior Unit of Harvard Business School. Before joining the business school he was the National Science Foundation Synthetic Biology ERC Postdoctoral Fellow resident at the Massachusetts Institute of Technology‘s Center for International Studies. He received his PhD from MIT in Political Science and an A.B. in Government from Harvard, magna cum laude. His research focuses on leadership, international relations, and the social and political implications of technological change. He is a member of the Council on Foreign Relations and MIT’s Security Studies Program and Program on Emerging Technologies.
Before graduate school he was a consultant with McKinsey & Company, where he focused on the pharmaceutical sector. He is Founding Managing Director of The Two Rivers Group, a strategy consulting firm focusing on applying insights from academia to private and public sector problems. He is a member of the Board of Directors and Chair of the Mentorship Committee of The Upakar Foundation, a national non-profit devoted to providing college scholarships to underprivileged students of South Asian descent. He is a Paul & Daisy Soros New American Fellow, an NSF IGERT Fellow, and a Next Generation Fellow of The American Assembly. He has published articles on leadership, military innovation, network-centric warfare, and the security and economic implications of synthetic biology in Security Studies, Parameters, Politics and the Life Sciences, Systems and Synthetic Biology, and the Washington Post. His first book, “Indispensable: When Leaders Really Matter.”
Innovate by Looking for Problem Patterns
Clayton Christensen, Harvard Business School Professor, explains how to approach innovation creatively by studying the problem you are trying to solve and how it was resolved by other industries.
What They Don’t Teach in Business School about Entrepreneurship
A group of entrepreneurs talk about what they learned in the trenches that they never could have learned in a classroom. The panelists will also share the courses that were most helpful to them in their entrepreneurial ventures, the courses that they wished they had taken, and the topics that business schools should be teaching to aspiring entrepreneurs.
Nitin Nohria and Amanda Pepper of Harvard Business School‘s Leadership Initiative collaborated with XPLANE to create this video in order to generate a discussion of the value and importance of leadership to address some of society’s most pressing problems.
“It is my desire to inspire people of all ages and social demographics to think about leadership on a broad level, contemplate what it means to them and what individual impact they can have when it comes to leading,” says Nohria.
“Billions of Entrepreneurs: How China and India are Reshaping Their Futures and Yours”
Removing half a billion people from poverty and into the productive workforce will profoundly affect on the world economy. India and China are doing just that with insane growth rates and lots of what used to be American jobs: China is the factory floor and India the back-office, software shop. China is top-down party driven. India is a messy, vibrant democracy.
This may be the complementary duo that changes the world. Including your world.
Come hear Professor Tarun Khanna in a discussion about his book, Billions of Entrepreneurs: How China and India are Reshaping Their Futures and Yours. Called well worth reading by The Economist and entertaining by the Financial Times, Khanna’s book shows how Chinese and Indian entrepreneurs are creating change through new business models.
Speaker: Tarun Khanna
Tarun Khanna is the Jorge Paulo Lemann Professor at the Harvard Business School, where he has studied and worked with multinational and indigenous companies and investors in emerging markets worldwide. He joined the faculty in 1993, after obtaining an engineering degree from Princeton University (1988) and a Ph.D. from Harvard (1993), and an interim stint on Wall Street. During this time, he has served as the head of several courses on strategy and international business targeted to MBA students and senior executives at Harvard.
His new book, Billions of Entrepreneurs: How China and India are Reshaping Their Futures and Yours, was published in February 2008 by Harvard Business School Press (Penguin in South Asia), with translations into several languages underway. It focuses on the drivers of entrepreneurship in China and India and builds on over a decade of work with companies, investors and non-profits in developing countries worldwide.
His scholarly work has been published in a range of economics and management journals, several of which he also serves in an editorial capacity. Articles in the Harvard Business Review (e.g. China + India: The Power of Two, 2007; Emerging Giants: Building World Class Companies in Emerging Markets, 2006) and Foreign Policy (e.g. Can India Overtake China?, 2003) distill the implications of this research for practicing managers. His work is frequently featured in global news magazines as well as on TV and radio.
He serves on the boards and advisory boards of several companies in the financial services, automotive, life sciences and agribusiness sectors. He actively invests in and mentors startups in Asia, and volunteers time with non-profits in India, e.g. the Parliamentary Research Services in New Delhi, which seeks to provide non-partisan research input to Indias Members of Parliament in advance of legislative sessions with a view to enhancing the quality of democratic discourse.
In 2007, he was nominated to be a Young Global Leader (under 40) by the World Economic Forum.
He makes his home in Newton, MA, with his wife, daughter and son.
In How To Think Like A CEO and Act Like A Leader: Practical Insights for Performance & Results!, author and businessman Michael Andrew dissects key strategies of successful leadership in the CEO arena. Using practical examples of day-to-day interpersonal and leadership behaviors, he provides insights that apply to anyone who wants to be more effective in dealing with people. With astonishing clarity, each chapter builds off of each other to address specific, relevant leadership insights. With a broad scope and clear language, the author introduces clues on interpersonal skills and how to surround one’s self with smart people, all the while magnifying the manner and performance skills that distinguish successful business leaders. Going beyond the acumen of business, these pages are filled with commonsense knowledge and introduce the importance of strategy execution, which will always make the difference in becoming an effective leader who gets results.
“Award-winning Harvard Business School professor Frances Frei and global thought leader Anne Morriss, both of whom specialize in building outstanding service companies, reading from their new book Uncommon Service: How to Win by Putting Customers at the Core of Your Business.
Most companies treat service as a low-priority business operation, keeping it out of the spotlight until a customer complains. Then service gets to make a brief appearance for as long as it takes to calm the customer down and fix whatever foul-up jeopardized the relationship.
In Uncommon Service, Frances Frei and Anne Morriss show how, in a volatile economy where the old rules of strategic advantage no longer hold true, service must become a competitive weapon, not a damage-control function. That means weaving service tightly into every core decision your company makes.
The authors reveal a transformed view of service, presenting an operating model built on tough choices organizations must make:
- How do customers define excellence” in your offering? Is it convenience? Friendliness? Flexible choices? Price?
- How will you get paid for that excellence? Will you charge customers more? Get them to handle more service tasks themselves?
- How will you empower your employees to deliver excellence? What will your recruiting, selection, training, and job design practices look like? What about your organizational culture?
- How will you get your customers to behave? For example, what do you need to do to get them to treat your employees with respect? Do you need to make it easier for them to use new technology?
Scientific discoveries, futurist Juan Enriquez notes, demand a shift in code, and our ability to thrive depends on our mastery of that code. Here, he applies this notion to the field of genomics.
Juan Enriquez thinks and writes about profound changes that genomics will bring in business, technology, and society. His TED Book, “Homo Evolutis,” explores those changes.
Why you should listen to him:
A broad thinker who studies the intersection of science, business and society, Juan Enriquez has a talent for bridging disciplines to build a coherent look ahead. Enriquez was the founding director of the Harvard Business School Life Sciences Project, and has published widely on topics from the technical (global nucleotide data flow) to the sociological (gene research and national competitiveness), and was a member of Celera Genomics founder Craig Venter‘s marine-based team to collect genetic data from the world’s oceans.
Formerly CEO of Mexico City’s Urban Development Corporation and chief of staff for Mexico’s secretary of state, Enriquez played a role in reforming Mexico’s domestic policy and helped negotiate a cease-fire with Zapatista rebels. He is a Managing Director at Excel Medical Ventures, a life sciences venture capital firm, and the chair and CEO of Biotechonomy, a research and investment firm helping to fund new genomics firms. The Untied States of America looks at the forces threatening America’s future as a unified country.
In his TED Book, Homo Evolutis (written with Steve Gullens), Enriquez explores the far reaches of human change, and asks: Are we done evolving?
“Juan Enriquez will change your view of change itself.” Nicholas Negroponte
Salman Khan talks about how and why he created the remarkable Khan Academy, a carefully structured series of educational videos offering complete curricula in math and, now, other subjects. He shows the power of interactive exercises, and calls for teachers to consider flipping the traditional classroom script — give students video lectures to watch at home, and do “homework” in the classroom with the teacher available to help.
In 2004, Salman Khan, a hedge fund analyst, began posting math tutorials on YouTube. Six years later, he has posted more than 2.000 tutorials, which are viewed nearly 100,000 times around the world each day.
Why you should listen to him:
Salman Khan is the founder and faculty of the Khan Academy (www.khanacademy.org) — a not-for-profit organization with the mission of providing a free world-class education to anyone, anywhere. It now consists of self-paced software and, with over 1 million unique students per month, the most-used educational video repository on the Internet (over 30 million lessons delivered to-date). All 2000+ video tutorials, covering everything from basic addition to advanced calculus, physics, chemistry and biology, have been made by Salman.
Prior to the Khan Academy, Salman was a senior analyst at a hedge fund and had also worked in technology and venture capital. He holds an MBA from Harvard Business School, an M.Eng and B.S. in electrical engineering and computer science from MIT, and a B.S. in mathematics from MIT.
An interview with Stewart Friedman, Professor, University of Pennsylvania’s Wharton School. Traditional thinking pits work and the rest of our lives against each other. But taking smart steps to integrate work, home, community, and self will make you a more productive leader and a more fulfilled person.
Now more than ever, your success as a leader isn’t just about being a great business person. You’ve got to be a great person, performing well in all domains of your life — your work, your home, your community, and your private self.
That’s a tall order.
The good news is that, contrary to conventional wisdom about “balance,” you don’t have to assume that these domains compete in a zero-sum game. Total Leadership is a game-changing blueprint for how to perform well as a leader not by trading off one domain for another, but by finding mutual value among all four. Stew Friedman shows you how to achieve these “four-way wins” as a leader who can:
- Be real: Act with authenticity by clarifying what’s important
- Be whole: Act with integrity by respecting the whole person
- Be innovative: Act with creativity by experimenting to find new solutions
With engaging examples and clear instruction, Friedman provides more than thirty hands-on tools for using these proven principles to produce stronger business results, find clearer purpose in what you do, feel more connected to the people who matter most, and generate sustainable change.
Most leadership development books focus only on your professional skills, while books about personal growth concentrate on your needs beyond work. Total Leadership is different. It’s a unique and long-awaited resource that shows how to win in all domains of life.
“In a world of work-life trade-offs, Stew Friedman offers what most think impossible: a field-tested program that gives you not only what you want in business, but also what you want in life. Brilliant.”
–Timothy Ferriss, New York Times bestselling author, The 4-Hour Workweek
“Destined to be a classic, this is a remarkable book. I have studied leadership and led organizations for over twenty years. No other book has reshaped my thinking about leadership development as much as Total Leadership. “
– David A. Thomas, professor, Harvard Business School, and author, Breaking Through: The Making of Minority Professionals in Corporate America
“Stew Friedman absolutely gets it. He is both a visionary and a much-needed advocate for a new kind of total leadership in the twenty-first century. What an empowering book! “
– Janet Hanson, Founder, 85 Broads
“Total Leadership will help you build a life, not just a sum. Stew Friedman has written the owners manual for all types of leaders, young and old, who aspire to both professional success and personal fulfillment.”
– Tom Tierney, Chairman and Cofounder, The Bridgespan Group
“The best leaders are those who stay connected to their communities, to the people they love, to themselves. In Stew Friedman s Total Leadership, you’ll learn simple, powerful new ways to make these connections happen and enjoy the rich rewards that inevitably follow.”
– Keith Ferrazzi, CEO, Ferrazzi Greenlight, and author, Never Eat Alone
“As the pace of business continues to race forward at lightening speed, Stew Friedman offers us an innovative and sustainable model for successful leadership. Total Leadership provides a unique proposition for individuals who strive to be their very best both personally and professionally.”
– Dave Lissy, CEO, Bright Horizons Family Solutions
“Total Leadership is so aligned with my thinking as an HR executive and medical director of a global business. With practical tools and compelling stories, Friedman demonstrates how to achieve four-way wins a distinctive, important new concept for today s leaders.”
–Dr. Robert W. Carr, Vice President and Corporate Medical Director, GlaxoSmithKline
- Friedman’s Theory of Differentiated Leadership Made Simple (lugenfamilyoffice.com)
- How to Become a Leader (lugenfamilyoffice.com)