best practices of entrepreneurial leaders
DESCRIPTION
Shared with the NUS Entrepreneurship Society By Prof Tom Kosnik of Stanford UniversityTRANSCRIPT
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Best Practices of Entrepreneurial Leaders:
Workshop for NUS Entrepreneurship Society
Presented by Tom Kosnik
Fenwick and West Consulting Professor, Stanford Technology Ventures Program Department of Management Science and Engineering, Stanford University
International Advisor, NUS Entrepreneurship Centre
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Agenda
• The Leadership Challenge
• Five practices and ten commitments of leadership
• Leadership practices from Built To Last
• Leadership tools from Good to Great
• Illustrate examples using Lord of the Rings
• Apply the models to your own leadership development
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
The Leadership Challenge
The Leadership practices from The Leadership Challenge are based on over 30 years of research on what followers admire in real world leaders
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
The five practices and ten commitments of leadership
The Five Practices of Leadership
The Ten Commitments of Leadership
Model the Way Find your voice by clarifying your personal values.Set the example by aligning actions with shared values.
Inspire a Shared Vision
Envision the future by imagining ennobling possibilities.Enlist others in a common vision by appealing to shared aspirations.
Challenge the Process
Search for… innovative ways to change, grow, & improve.Experiment & take risks via small wins & learning from mistakes.
Enable Others to Act
Foster collaboration via cooperative goals & building trust.Strengthen others by sharing power & discretion.
Encourage the Heart
Recognize contributions by showing appreciation for…excellence.Celebrate values and victories via a spirit of community.
Source: Kouzes, James and Barry Posner. (2002) The Leadership Challenge, Jossey Bass, San Francisco, CA, p. 72
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Real examples of the five practices of leadership
The Five Practices of Leadership
Model the Way
Inspire a Shared Vision
Challenge the Process
Enable Others to Act
Encourage the Heart
How well do you think these entrepreneurial leaders perform?
Source: Kouzes, James and Barry Posner. (2002) The Leadership Challenge, Jossey Bass, San Francisco, CA, p. 72
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Leadership Practices from Built to Last
Practices from the book Built To Last enabled entrepreneurial leaders to create companies that endure even after the leaders are gone.
Adapted from Jim Collins, Built To Last, (1994)
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Leadership Practices from Built to Last
• Be a clock builder, not a time teller
• Build your company around a core ideology
• Build a cult-like culture
• Home grow your management
• Set Big, Hairy Audacious Goals (BHAGs)
• Try a lot of things and keep what works (experiment)
• Embrace the “genius of the and”
Adapted from Jim Collins, Built To Last, (1994)
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Leadership Tools from Good to Grea!
Tools from the book Good to Great will enable an entrepreneurial leadership team to take their company to the next level of greatness.
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Good to Great Study
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Good to Great Examples
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Inside the Black Box
What’s inside the
BLACK BOX?Good Results
Great Results
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Flywheel
Good to Great
Buildup…Breakthrough…
Disciplined People Disciplined ActionDisciplined Thought
Level 5 Leadership
First who… Then What
Confront the Brutal Facts
Hedgehog Concept
Culture of Discipline
Technology Accelerators
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Good to Great
Buildup…Breakthrough…
Disciplined People Disciplined ActionDisciplined Thought
Level 5 Leadership
First who… Then What
Confront the Brutal Facts
Hedgehog Concept
Culture of Discipline
Technology Accelerators
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Level 5 Leadership
• Humility and fierce resolve
• Driven by the commitment to make the company great
• When things go well, give credit to others
• When things go badly, take full responsibility themselves
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Level 5 Hierarchy
Level 5 Executive
Effective Leader
Competent Manager
Contributing Team Member
Highly Capable Individual
Level 2
Level 3
Level 1
Level 4
Level 5
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Exercise: Identify Types of Leaders You Know
Level 5 Executive
Effective Leader
Competent Manager
Contributing Team Member
Highly Capable Individual
Level 2
Level 3
Level 1
Level 4
Level 5
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Good to Great
Buildup…Breakthrough…
Disciplined People Disciplined ActionDisciplined Thought
Level 5 Leadership
First who… Then What
Confront the Brutal Facts
Hedgehog Concept
Culture of Discipline
Technology Accelerators
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
First Who, Then What:
Get the Right People on the Bus – Then the team decides where and how to go
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Exercise: Who’s on Your Bus?
Name Role in Movie Job Title Name of Person
Gandalf Wizard
Lord Eldar Elf King
Aragon Future King
Legolas Elf
Gimli Dwarf
Boromir Men Race
Frodo Hobbit
Sam Hobbit
Merry Hobbit
Pippin Hobbit
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Good to Great
Buildup…Breakthrough…
Disciplined People Disciplined ActionDisciplined Thought
Level 5 Leadership
First who… Then What
Confront the Brutal Facts
Hedgehog Concept
Culture of Discipline
Technology Accelerators
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
All organizations face adversity
IT Leader
Our company culture
Market environment
CustomersPeers
Tea
mM
anager
• Budget shortfalls• Loss of key people• Technology failures• Unexpected delays• Quality problems
• Natural disasters• Economic crises• Wars• Power Failures
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Confront the Brutal Facts
Create a climate where the truth is heard:
1. Lead with questions, not answers.
2. Engage in dialogue and debate, not coercion.
3. Conduct autopsies, without blame.
4. Build red flag mechanisms so data can’t be ignored.
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Good to Great
Buildup…Breakthrough…
Disciplined People Disciplined ActionDisciplined Thought
Level 5 Leadership
First who… Then What
Confront the Brutal Facts
Hedgehog Concept
Culture of Discipline
Technology Accelerators
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Hedgehog Concept
What you are Deeply
Passionate About
What Drives your
Economic Engine
What you can Be the Best
In the World At
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Exercise: Discuss: What is your Hedgehog Concept?
What you are Deeply
Passionate About
What Drives your
Economic Engine
What you can Be the Best
In the World At
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Good to Great
Buildup…Breakthrough…
Disciplined People Disciplined ActionDisciplined Thought
Level 5 Leadership
First who… Then What
Confront the Brutal Facts
Hedgehog Concept
Culture of Discipline
Technology Accelerators
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Culture of Discipline:How to Implement your Hedgehog Concept
The Council
Ask Questions,Guided By the Three Circles
Dialogue And Debate, Guided By
The Three Circles
Autopsies and Analysis, Guided By
The Three Circes
Executive DecisionsGuided By the Three Circles
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Good to Great
Buildup…Breakthrough…
Disciplined People Disciplined ActionDisciplined Thought
Level 5 Leadership
First who… Then What
Confront the Brutal Facts
Hedgehog Concept
Culture of Discipline
Technology Accelerators
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Using a portfolio of technologies to communicate across your organization
E-mailVoice Mail
Materials via Web siteNewsgroup Discussions Web Site Suggestion BoxGroupware for DocumentsDownload videos via WWWLibrary Reserve BooksDigital Video SessionsDigital Audio Sessions
FacebookLinkedinE-mail
Voice MailWikis
Newsgroup Discussions Web Site Suggestion BoxGroupware for DocumentsDownload videos via WWW
BlackboardWhiteboardFlip ChartsScribe Notes
Digital RecorderVideo Camera
Feedback Surveys
SkypeWireless Phone
WebcastAudio TeleconferenceVideo TeleconferenceElectronic White BoardReal-time Newsgroup
Live Multi-point Broadcast
Time
Different(Asynch)
Same(Synch)
PlaceDifferentSame
* Adapted from O’Hara-Devereaux and Johansen (1994), Global Work.
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Exercise: What technologies are the most effective for teams you know?
Different timeSame place
Different TimeDifferent Place
Same TimeSame Place
Time
Different(Asynch)
Same(Synch)
PlaceDifferentSame
* Adapted from O’Hara-Devereaux and Johansen (1994), Global Work.
Same TimeDifferent Place
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Flywheel BuildsMomentum
Steps Forward,Consistent with
Hedgehog Concept
Accumulation of Visible Results
People Line Up,Energized by
Results
The Flywheel Effect
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Flywheel
Good to Great
Buildup…Breakthrough…
Disciplined People Disciplined ActionDisciplined Thought
Level 5 Leadership
First who… Then What
Confront the Brutal Facts
Hedgehog Concept
Culture of Discipline
Technology Accelerators
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Summary and Next Steps
• You can use the tools that we showed you today to develop your own entrepreneurial leadership skills
• Read The Leadership Challenge, Built to Last, Good to Great
• Watch DVDs of popular movies with your team mates
• Pick the scenes in the movies that illustrate the leadership practices in the books
• Apply the tools and practices in leadership situations you face in NES, in class projects, and on the job
• Watch real world leaders around you – good and bad – and use the tools and practices to assess their performance.
Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, NY
Thank You to my Global Development Team
Name Contact SchoolJenny Chew [email protected] National University of Singapore
Ming Gu [email protected] Stanford University
Jia Li [email protected] National University of Singapore
Shifeng Li [email protected] National University of Singapore
Rhea Ruixue Liu [email protected] Stanford University
Jennifer Xiaoshu Shao [email protected] Stanford University
Si Shen [email protected] Stanford University
Gabriel Kaiyang Wang [email protected] National University of Singapore
Ryan Wong [email protected] National University of Singapore
Chie Ping Yip [email protected] National University of Singapore