Intercity bus passengers deserve a great customer experience. This is not what they are getting in Philadelphia from Greyhound after the company abandoned their bus terminal and moved to curbside pickup and drop off of passengers. Greyhound claims they follow industry standards. When industry standards are inadequate, leading companies go beyond those standards to differentiate themselves from their competition. Why doesn’t Greyhound?
Every leader has their own leadership style. As a leader, Musk is an outlier, a disruptor, out to accomplish what he believes is possible. Musk is an engineer, so his hard technical skills and way of thinking fit well with Tesla, SpaceX and Boring. However, at X (formerly Twitter), technical skills are not the driver for success. People skills and emotional intelligence are, which is not his strong area.
Be sure to perform due diligence on any board you are thinking about joining. Understand the boardroom culture. Do some directors have an agenda that might steer decisions in a direction against the best interests of the company? Do directors have sufficient experience to ensure good governance? Is the CEO open and transparent with the board on issues impacting the company? Are the directors people you would enjoy working with?
All forms of hate or violence, regardless to whom it is directed, must be condemned. When any group of students feels unsafe on campus, it is the responsibility of the university administration to protect them regardless of their race, nationality, religion or sexual orientation. Let’s hope all university administrators fulfill this responsibility.
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.
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.
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.
“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.
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.
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.
A preferred provider is the business that everyone wants to buy from versus its competition. You differentiate yourself from your competitors. You give your customers or clients a great experience. You treat your employees with respect and as valued assets and help them develop a sense of ownership in what they do.
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.