This is my 515th and last column for the Philadelphia Business Journal. This week is my 10th anniversary of writing columns on leadership for PBJ. Remember these three pieces of advice to help you achieve success: Take advantage of opportunities that come your way and create your own opportunities. Get out of your comfort zone. “Where does the power come from to see the race to its end? From within.”
Embrace these fundamental principles of effective leadership
Be a leader that people want to follow. Meet your commitments. Lead in a way that makes everyone on your team feel like they matter. Exhibit the right tone at the top and nurture the right organizational culture. Inspire your people to be the best versions of themselves. Don’t tolerate a tyrant—part company with them. Lead like you would like to be led. Treat people like you would like to be treated. Practice the human side of leadership.
Beware the consequences of holding managers to aggressive or unachievable goals
Why do some managers commit fraud, violate antitrust laws or make business decisions that are not in the best long-term interests of their company just to boost short-term financial results? They do so because of intense pressure from their senior leadership that overshadows these managers’ sense of honesty, ethics and integrity.
How should university presidents respond to campus protests?
American Jewish students do not impact Israeli policies, so why are they being harassed, threatened and intimidated on many campuses across the U.S.? The reason is antisemitism. Students who are not protesting also have rights. They have the right not to have their ability to attend class disrupted by protestors who have taken over campus buildings. So, How should university presidents respond to campus protests?
Don’t hire people who lack good critical judgment
Why do some decision makers never exercise common sense and good critical judgment and break the rules on rare occasion when it is in the best interests of their company? Are they afraid of being punished by those above them in the hierarchy, who also exercise poor critical judgment? Leaders should celebrate direct reports who violate the rules when it makes sense.
Stay ahead of the market to avoid being obsoleted by competition
How do you avoid being overtaken by a competitor introducing a new product or service? Develop products and services that customers and clients don’t yet know they need, even if it means making obsolete your current product or service offering. Better you do it than a competitor. Follow the advice of Andy Grove, the former chairman and CEO of Intel: “Only the paranoid survive.” In business, there is no truer statement.
How not to increase shareholder value
Is violating the law and paying fines just the cost of doing business, placing profits above corporate responsibility? No! I like the ethical standard to which Warren Buffett held the employees of Salomon Brothers when he served as interim chairman: “Lose money for the firm, and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless.”
My 500th column: Advice fundamental to your personal success
This is an important milestone for me—my 500th column published by the Philadelphia Business Journal. In this column, I share advice that I believe is fundamental to our personal success. These are: Take advantage of opportunities that come your way and create your own opportunities. Get out of your comfort zone. Your personal integrity and reputation are everything. “Where does the power come from to see the race to its end? From within.”
CEO candidates, ensure that you will in fact have the authority of a chief executive officer
What’s the impact of a founder/executive chair of the board who is no longer the CEO but remains active in the business? It certainly could undermine the new CEO’s ability to do their job when they don’t have the full powers and responsibilities of a traditional chief executive officer. How do you hold the new CEO accountable for results when they’re not the individual calling the shots?
The gap between employers and Gen Z workers is a problem—and an opportunity
My advice to Gen Zers: Differentiate yourself from your peers to compete for that next promotion by meeting/exceeding expectations and have a sense of ownership for what you are responsible for. Demonstrate your value proposition. Exercise initiative and creativity. Undertake assignments that push you outside your comfort zone. Challenge paradigms, which are established ways of doing things. Be an influencer. This is how you grow professionally.
Follow these fundamental principles of effective leadership
We should all be guided by what I identify as “fundamental principles” of effective leadership. Unfortunately, many leaders in business, nonprofits and politics miss the mark. They are not effective leaders. To guide the next generation of leaders, these fundamental principles need to be taught to all undergraduate students, regardless of their major. Many of them will assume leadership positions during their careers. This is what they need to know.
How to engender trust with your colleagues
The best talent will want to work for companies where there is a high level of trust with the senior leadership and among fellow employees. This is the type of company at which we all want to work. Whether you are the CEO, a mid-level manager or an individual contributor with no direct reports, trust needs to be earned. So, how do you earn the trust of others?