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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.