I had a great opportunity to meet with Louis V. Gerstner, Jr., retired Chairman and CEO from IBM, last week. Here is what I learned from him.
Leadership is picking and choosing. You can’t know everything. What you need to know is what to know, and what not to know. Leaders do not need to know everything; they spend time on things that are important to them.
The pediment of success is to train leadership skill like riding a bike.
Some bad example is: they don’t invest time to develop managerial skills
When promoted, the outcome is only focus. – That is the biggest mistake.
Managing skills are important. Great managers create great processes. The good managers’ job is to produce processes, not only get the job done.
What information do we have? Strategy is one of the processes.
Management is about processes.
Abilities of managers and influence. Using the long-tail model. Most decision is made during the head part. We will review our managers in the long-tail part.
Managers’ skills evolved overtime.
How to deal with unpopular decision? Explain why made that before making it. You can’t slip through, and don’t pen memo unsigned, like Enron.
Meeting tips: engage in the audience. Spend 50 percent of time to learn where our audience at.
In terms of the compensation and rewards, the pay is based on the whole companies’ performance, rather than an individual.
One of the strategic competitive advantage is Reward system — how to reward people.
Time management is also important – find out where people spend their time.
For meetings, no meeting should be to argue the facts. What we need to do during the meeting is to argue what to so.
What to do to manage and how to manage better.
Leaders need to know how you behave, act, live, and how to project from people how do others act. They need openness; they are always seeking advices and give feedbacks.
A good leader is open, helpful and seeks help from others and offer helps to colleagues.
Leadership is about passion. Leaders get people do things people would not otherwise do. Leaders creates climate, culture, excitement, opportunity of winning.
“I am standing there with you” leaders do not get upset. For instance, when we lose $6 million, I am so excited. I am going to make it to lose $3 million next time.
Leaders work harder when moving up to the ladder. Leaders are always along with their colleagues. Leaders should not do what they do not want to do themselves.
Leaders share credits and leaders live up values in their organization. People who undermine the value of the organization have to go.
Leaders should be open, beware of others, and offer helps.