Valuable Insights for Today's Leaders

CEOs have a responsibility to society, not just shareholders

All pharma CEOs need to understand that they have a responsibility beyond that to their shareholders. Maximizing profits for shareholders beyond what is needed to earn a return on R&D investment—at the expense of people who cannot afford their pharmaceuticals—is unethical. Business ethics should be taught not only in MBA school, but in all undergraduate and graduate programs.

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Advance in your career by going beyond expectations

How do people really get promoted? Doing the hard work is part of the equation, but its not going to be enough to get ahead. It’s about meeting/exceeding the expectations that your manager never tells you about. It’s about the unspoken rules that are not in your job description.

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Saxbys teaches college students to be future business leaders

One of the greatest opportunities a college student can be granted is the responsibility to run a business, lead employees and be held accountable for achieving results. On average, college students achieve their first managerial position seven years after graduation. For those who have been Saxbys student cafe executive officers, on average they achieve their first managerial position 12 months after graduation.

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JoAnne Epps leaves a legacy that we all can learn from

“One question every leader should be asking is, ‘How will I be remembered by my peers, colleagues, and employees?’” Leaders, think about what was said to honor and celebrate the life of Temple President JoAnne Epps. What do you want to be remembered by? There is no higher calling in life than leaving behind a meaningful legacy.

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Leaders cannot ignore the brutal facts of reality

Facing the brutal facts and addressing them early can prevent disastrous consequences later. Valery Legasov, the hero of the HBO miniseries “Chernobyl,” stated, “Every lie we tell incurs a debt to the truth. Sooner or later, that debt is paid.” I cannot think of a more appropriate statement that describes the importance of facing the brutal facts of reality. In addition to Chernobyl, this also applies to the Titan implosion, the Challenge disaster and global warming.

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What do the CEO and board expect from the CFO?

Based on my experience as a former CEO and director on the boards of numerous companies, these are the expectations that CEOs and boards have of their CFO. CFOs who meet these expectations will earn trust and confidence and be effective in their role.

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Don’t micromanage employees. Empower and hold them accountable.

Should policies and practices that make little sense or impede the success of a staff or line unit be challenged? Absolutely! Many employees feel “that’s just the way it is.” Not true. Don’t micromanage—empower employees and hold them accountable for results. Companies that adopt these principles as part of their culture are the ones that will excel.

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What Starbucks can learn from critical judgment mishap

A major characteristic of some customer-facing employees and corporate decision-makers is the lack of common sense and good critical judgment. This can expose your company to significant liability. People without these skills should not hold customer-facing or management positions.

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Leaders need to deal with toxic people within their organization

A toxic corporate culture is the result of a CEO setting a tone at the top that tolerates toxic people within their organization. As the CEO, you should never tolerate a toxic individual. They cause great harm to your organization. If they cannot rapidly change their management style, part company with them.

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