Bill George, Harvard Professor and former CEO, Medtronic, will be keynoting the World Business Forum next Tuesday for the second year in a row. I spoke to him today. Here is some of what he told me:
Leaders need to think of the world like the Internet. It is less hierarchy and more interconnected than it has ever been before. Successful leaders understand this. They take the time to talk to everyone who has something to say regardless of their title. They find ways to stay in touch. Sure, it's a lot of work. It's very intense. It's a 24/7 kind of thing. But, it is what makes them successful.
Further they need to deliver in both the short term and the long term. The last generation of leaders focused on the short term at the expense of the long term. You can see it on Wall Street. The value they destroyed was immense.
That said, I have great hope for the new wave of corporate leaders. We are moving toward a more responsible, more engaged leader, looking beyond their business. Today's leaders want to know what is really going to help, not just make a lot of money. They are adept at balancing immediate priorities with the long haul, and making real progress in both at the same time.
I asked George about what he will say at the World Business Forum.
I get to frame the entire two days in the context of leadership, to set the pattern for the whole event. We will have the top leaders from many fields coming together at a time when we need to rethink leadership entirely.
I will draw from the latest events to illustrate my points. Ken Lewis just resigned yesterday. He is the last of the old guard on Wall Street to step aside. Wall Street is going through a massive change. Now we have a whole new generation of leaders on Wall Street. This is very exciting.
But, the recession is not over. I know Bernanke is saying the recession is over. But look, we have another big increase in job losses last month. 10% of Americans are officially unemployed and that number does not count those people who have given up looking for jobs, so it's really much more. There's a lot to do.
This conference, the World Business Forum, is special because it brings the best minds of our time together when we really need it. You have very high profile leaders talking right in the midst of a very challenging and exciting time. This is a great opportunity to learn. Anyone who comes to this conference or reads about it through the blogs will be getting some great information from some of the best thinkers the world has to offer.
I asked George about the skepticism that is on the street regarding today's corporate leaders.
We are all regular Joes. It's not a bunch of elite types talking only to each other, flying around on their personal planes, taking limos to their meetings. These are people just like the guy on the street. We have to get beyond this we-they stuff. We're all in this together.
The best leaders are finding much more personalized ways to communicate. You are going to see the successful organizations have leaders who know everyone, they make the time to engage.
