Milken Institute Global Conference: Conversations On Leadership (Summary)

Conversations on Leadership (click for video and more details)

A seemingly random panel of leaders of widely varied organizations—from an hotelier to a baseball star to a scientist to a grocer—came together to discuss what unites them: great leadership. And although these main concepts are likely not ones you’re hearing for the first time, much can be learned from the ways each panelist exemplifies the leadership ideals, and the lessons learned along the way.

Panelists:

• Steven Burd, President and CEO, Safeway
• Susan Desmond-Hellman, Chancellor and Arthur and Toni Rembe Rock Distinguished Professor, UCSF
• Joe Torre, Executive Vice President, Baseball Operations, MLB
• Steve Wynn, Chairman and CEO, Wynn Resorts

4 Leadership Clichés (Because They’re True):

Think Big and Reach High

Susan Desmond-Hellman: When she became the president of product development at Genentech, she said knew didn’t want to make cancer treatments a little better, but a lotbetter. She aspired to do something that hadn’t been done before that would affect people’s lives positively. “Dream of what you think is possible, and then go for it.” While Susan was at Genentech, they became the nation’s number one producer of anti-cancer drug treatments.

Joe Torre: As new manager of the Yankees in 1996, Torre told his team at their first meeting: “I don’t want to win one World Series; I want to win three in a row.” He believed that one victory—which could be thought of as a fluke–wasn’t enough. He wanted to then validate people’s expectations, and keep winning once the pressure was on to do so. During his run as manager, the team went to the playoffs every year and won four World Series.

Steven Burd: “Leaders have to believe in doing the impossible.” He believes in setting goals that most people think can’t be met, and setting time frames seen as unrealistic—and that’s what forces him to think about problems completely differently.  “Creating a culture of innovation is critical.” This is how Safeway has been able to maintain employee healthcare costs for the past six years despite heavy increase averages amongst competitors.

Believe in Yourself as a Leader

Susan Desmond-Hellman: She remembers having to make the shift from being a medical student who wanted to be a doctor to someone who could actually affect people in a broader sense—and how essential it was to make that adjustment to actually start thinking of herself as being a leader, and to believe it.

Joe Torre: When he was nominated to be captain of a baseball team, he realized that people saw something in him he didn’t recognize in himself. He chose to believe them, and to live up to the responsibility he was given. On the other hand, he made sure to never fall into the trap of believing what the media was saying about him. “Have the constitution to believe in what you’re doing.”

Steven Burd: He says that if someone is failing as a leader, it’s most likely because they lack courage. He believes that having the courage to make tough calls and decisions when times are tough is what distinguishes all the great leaders.

Tell the Truth

Steve Wynn: Steve prioritizes having credibility and making sure his customers and employees trust him. He appeared in commercials for his Wynn and Encore hotels in which he stood on the roofs of the buildings and proudly introduced the hotels—followed by nervously asking when he can get down, or if next time they could shoot in the lobby. Steve did this to show that at the end of the day, he is just a salesman pitching what he has to offer, with the same fears as everyone else. “The truth is what works.” In fact, the union many of his employees belong to trusts Steve enough to have him write their contracts.

Joe Torre: He would let a team’s coach deliver good news, but always made sure to deliver the bad news to the team himself. “Without trust, you can’t get commitment.” In addition, he knew he couldn’t put on a show around his teammates. “You’re around them every day; they’re going to know who you are.”

Lead By Example

Steven Burd: He believes that what made him credible in Washington is that he didn’t go there and suggest what Safeway could do—he went and explained what they did.

Steve Wynn: He asserts that rhetoric has become almost a religion—but leadership is about what you do, not what you say. He says there is nothing so complicated about what most great leaders do every day, but what is important is that they are consistent, and able to put themselves in the shoes of the people that matter the most.

To View More of Our Top 5 Panels from the Milken Institute Global Conference 2011 Click Here

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