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Best practices of entrepreneurial leaders

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Shared with the NUS Entrepreneurship Society By Prof Tom Kosnik of Stanford University

Shared with the NUS Entrepreneurship Society By Prof Tom Kosnik of Stanford University

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    • 1. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 2. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 3. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 4. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 5. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 6. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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)
    • 7. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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)
    • 8. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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.
    • 9. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, Good to Great Study
    • 10. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, Good to Great Examples
    • 11. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, Inside the Black Box What’s inside the BLACK BOX?Good Results Great Results
    • 12. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 13. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 14. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 15. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 16. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 17. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 18. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, First Who, Then What: Get the Right People on the Bus – Then the team decides where and how to go
    • 19. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 20. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 21. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, All organizations face adversity IT Leader Our company culture Market environment CustomersPeers Team Manager • Budget shortfalls • Loss of key people • Technology failures • Unexpected delays • Quality problems • Natural disasters • Economic crises • Wars • Power Failures
    • 22. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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.
    • 23. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 24. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, Hedgehog Concept What you are Deeply Passionate About What Drives your Economic Engine What you can Be the Best In the World At
    • 25. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 26. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 27. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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 Decisions Guided By the Three Circles
    • 28. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 29. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, Using a portfolio of technologies to communicate across your organization E-mail Voice Mail Materials via Web site Newsgroup Discussions Web Site Suggestion Box Groupware for Documents Download videos via WWW Library Reserve Books Digital Video Sessions Digital Audio Sessions Facebook Linkedin E-mail Voice Mail Wikis Newsgroup Discussions Web Site Suggestion Box Groupware for Documents Download videos via WWW Blackboard Whiteboard Flip Charts Scribe Notes Digital Recorder Video Camera Feedback Surveys Skype Wireless Phone Webcast Audio Teleconference Video Teleconference Electronic White Board Real-time Newsgroup Live Multi-point Broadcast Time Different (Asynch) Same (Synch) Place DifferentSame * Adapted from O’Hara-Devereaux and Johansen (1994), Global Work.
    • 30. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, Exercise: What technologies are the most effective for teams you know? Different time Same place Different Time Different Place Same Time Same Place Time Different (Asynch) Same (Synch) Place DifferentSame * Adapted from O’Hara-Devereaux and Johansen (1994), Global Work. Same Time Different Place
    • 31. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, Flywheel Builds Momentum Steps Forward, Consistent with Hedgehog Concept Accumulation of Visible Results People Line Up, Energized by Results The Flywheel Effect
    • 32. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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
    • 33. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, 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.
    • 34. Leadership Best PracticesAdapted from Jim Collins (2001) Good to Great, Harper Business, New York, Thank You to my Global Development Team Name Contact School Jenny Chew sci00464@nus.edu.sg National University of Singapore Ming Gu minggu@stanford.edu Stanford University Jia Li isc10875@nus.edu.sg National University of Singapore Shifeng Li isc10555@nus.edu.sg National University of Singapore Rhea Ruixue Liu Rhea.liu@stanford.edu Stanford University Jennifer Xiaoshu Shao sxsshao@stanford.edu Stanford University Si Shen sishen@stanford.edu Stanford University Gabriel Kaiyang Wang eng10975@nus.edu.sg National University of Singapore Ryan Wong isc10870@nus.edu.sg National University of Singapore Chie Ping Yip eng02381@nus.edu.sg National University of Singapore

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