608: Harvard Professor and former CEO of Medtronic, Bill George, on How Leaders Should Manage Challenging Times

608: Harvard Professor and former CEO of Medtronic, Bill George, on How Leaders Should Manage Challenging Times

Bill George, former CEO of Medtronic and Harvard Business School Executive Fellow, explains how leaders can stay grounded, principled, and effective in chaotic times.

"It's a world of chaos and it requires a very different kind of leader than in more stable times." The skills that once mattered (process control, long-term plans) are now secondary to courage, self-awareness, and moral clarity.

George says most executives still lead comfortably "inside the walls" but fear the external world (media, public scrutiny, and rapid change). "Today, if you're a leader, you are a public figure. You have to face that reality."

Leadership now starts with knowing your True North, your values and principles. "When everything's going your way, you start to think you're better than you are. When you lose, you learn your weaknesses."

He warns: "The people who will struggle are those faking it to make it. They're trying to impress the outside world but aren't grounded inside."

Purpose, not position, defines identity. "A CEO once said, 'Without a title, I'm nothing.' You won't hold that title forever. Who are you then?"

True fulfillment comes from alignment between personal purpose and work. "Every business has a deep sense of purpose if it's well run. The ones that only make money, like GE, go away."

He lists five traits of leaders who thrive in crisis:

  • Face reality.
  • Stay true to values.
  • Adapt strategies fast.
  • Engage your team.
  • Go on offense when others retreat.

Each requires courage. "You can't teach courage in a classroom. It has to come from within."

He urges humility: "Leadership is all about relationships, it's a two-way street." His turning point came when he stopped "building a résumé" and started building people.

He defines authentic leadership as growth through feedback: "I never walk into a classroom unless I'm going to learn from everyone there."

And he closes with the core message: "You don't have to be CEO. If you can do great work and help others, you'll feel fulfilled. Leaders make the difference between success and failure."

Key Insights (Verbatim Quotes)

1. Chaos demands a new kind of leader.

"It's a world of chaos and it requires a very different kind of leader than in more stable times."

2. Authenticity starts with grounding.

"Our true north is our principles, our beliefs, and our values all rolled into one."

3. Titles are temporary.

"I am not the CEO of Best Buy. …That's the title I hold. I won't hold that forever."

4. Courage separates real leaders.

"You can't teach courage in a classroom. It has to come from within."

5. Purpose drives resilience.

"Every business has a deep sense of purpose if it's well run."

6. Leadership is relational.

"I was building a résumé, not relationships. Leadership is all about relationships."

7. Fear destroys authenticity.

"A lot of people are living in fear. That's no way to live your life."

8. Great leaders empower others.

"You want everyone on your team to be better than you are at what they do."

9. Growth never ends.

"Anyone who's authentic knows they have to continue to grow as a human being."

10. True success is internal.

"You'll never have enough power, fame, or money. You find fulfillment within."

Action Items

  • "Face reality, starting with yourself." Look in the mirror and ask, "Maybe I'm creating this negative culture. What did I do wrong?"

  • "Stay true to your purpose and your values." Never abandon principles when pressure rises.

  • "Adapt your strategies and tactics." What worked yesterday may not work today.

  • "Get your team involved." Say, "Hey guys, we've got a real problem. What ideas do you have to keep it going?"

  • "Go on offense when everyone else is pulling back." Make bold moves when others retreat.

  • "Have the courage to look yourself in the mirror." Courage starts with self-reflection.

  • Ask, "What's the worst case? What do I have to lose?" and move forward without fear.

  • "If one door closes, maybe another one's going to open that I never even saw."

  • "Know who you are." Reflect on your life story, relationships, and crucibles that shaped you.

  • "Don't get caught up in titles or money." Remember, "Without a title I'm nothing" leads nowhere.

  • "Find a congruence between your purpose and the organization's purpose."

  • "Every business has a deep sense of purpose if it's well run." Identify how yours helps people.

  • "Get away from toxic leaders." If they drive you down, take credit for your work, or never support you, move on.

  • "Work for people you feel really good about working with."

  • "Learn all aspects of the business and how to integrate them creatively."

  • "Pull together a cross-disciplinary team" and act as the integrator.

  • "Have everyone on your team be better than you are at what they do."

  • "Be the glue." Integrate experts to solve tough problems.

  • "Care about your people first." They must know you care before they'll perform.

  • "Get everyone into their sweet spot" — where they use all their skills and are highly motivated.

  • "Align everyone around purpose and goals."

  • "Challenge people to reach their full potential." Say, "I know you can do better. Let's take your game to the next level."

  • "Get out there and be with the people." Don't hide behind PowerPoints.

  • "Help your people do better." Work beside them.

  • "Believe in someone who doesn't believe in themselves." Tell them, "You have this potential. Go for it."

  • "Find someone who believes in you." A mentor, boss, or spouse who sees your potential.

  • "As a leader, be that person who believes in others."

  • "Face your blind spots." Ask people who care about you for honest feedback.

  • "If you get feedback from people that care about you, take it in."

  • "Stop building a résumé and start building relationships."

  • "Take time for people. Ask, 'How are you doing today? What challenges are you facing?'"

  • "Leadership is all about relationships — it's a two-way street."

  • "Tell the truth — the good, the bad, and the ugly."

  • "Stay away from blame." Take responsibility instead of pointing fingers.

  • "Be transparent." Don't hide problems; fix them.

  • "Never fake it to make it."

  • "Keep growing as a human being."

  • "Take feedback and adapt." Growth requires awareness of impact on others.

  • "Believe in yourself even if you fail." Failure is learning.

  • "Spend time reflecting on your purpose and the person you are becoming."

  • "Help other people reach their full potential."

  • "Measure success by how many people you help every day."

  • "Remember: leadership is about who you are, not what title you hold."

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149: Sanctions are like punishing your spouse by letting them date other people (Monday Morning 8 a.m. #27, part 2)

149: Sanctions are like punishing your spouse by letting them date other people (Monday Morning 8 a.m. #27, part 2)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To listen to the audio version of this newsletter, search for "Strategy Skills" in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo To get a copy of some of the previous issues you might have missed, get the Strategy Insights book. If you love Strategy Insights and support it with reviews on Goodreads and Google Play (and support on Amazon is very much appreciated) by May 30th 2021, please email support@firmsconsulting.com as we will be sending 1-month access to the accompanying course as a gift to members who loved and supported the book with reviews. P.S. If you want to support the Monday Morning 8 a.m. and our other work, there are many ways you can do that, including reviews on iTunes / Amazon / Goodreads / app, purchasing our memberships / books, applying to join our prelaunch team, or just spreading the word. Some links above are affiliate links. As an Amazon Associate, we earn from qualifying purchases.

13 Maj 202110min

148: Three people that influence you the most (Monday Morning 8 a.m. #27, part 1)

148: Three people that influence you the most (Monday Morning 8 a.m. #27, part 1)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To listen to the audio version of this newsletter, search for "Strategy Skills" in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo To get a copy of some of the previous issues you might have missed, get the Strategy Insights book. If you love Strategy Insights and support it with reviews on Goodreads and Google Play (and support on Amazon is very much appreciated) by May 30th 2021, please email support@firmsconsulting.com as we will be sending 1-month access to the accompanying course as a gift to members who loved and supported the book with reviews. P.S. If you want to support the Monday Morning 8 a.m. and our other work, there are many ways you can do that, including reviews on iTunes / Amazon / Goodreads / app, purchasing our memberships / books, applying to join our prelaunch team, or just spreading the word. Some links above are affiliate links. As an Amazon Associate, we earn from qualifying purchases.

12 Maj 202113min

147: What's going to happen seven moves down the chessboard (Monday Morning 8 a.m. #26)

147: What's going to happen seven moves down the chessboard (Monday Morning 8 a.m. #26)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To listen to the audio version of this newsletter, search for "Strategy Skills" in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

3 Maj 202121min

146: Interview with 5-time tech CEO Josh Linkner about building a culture of innovation

146: Interview with 5-time tech CEO Josh Linkner about building a culture of innovation

In an era of dizzying speed, complexity, and competition, harnessing innovation is the only way to fuel growth and beat the old guard. Linkner's newest book, BIG LITTLE BREAKTHROUGHS, reveals the creative thinking behind the world's most successful entrepreneurs and why they focus on small, daily creative acts to topple industry giants. Drawing on his three decades of experience as a tech entrepreneur, his investments in over 100 startups (including a "unicorn"), and interviews with innovative leaders around the globe, Linkner provides proven tools to accelerate growth, gain competitive advantage, and drive meaningful results. BIG LITTLE BREAKTHROUGHS by Josh Linkner: https://amzn.to/337W4UV BIO Josh Linkner is a creative troublemaker. He started his career as a jazz guitarist and then went on to become the founder and CEO of five tech companies, which sold for a combined value of over $200 million. He is also a deeply experienced business leader, venture capitalist, top-rated keynote speaker, New York Times bestselling author, and professional jazz guitarist. He is a world-renown expert on innovation, disruption, and hyper-growth leadership and has delivered over 1,000 keynotes to companies and organizations across sectors, including ABC, Heineken, American Express, Mercedes Benz, and the U.S. State Department. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

2 Maj 202155min

145: When promotions end and the runway ends (Monday Morning 8 a.m. #25)

145: When promotions end and the runway ends (Monday Morning 8 a.m. #25)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To listen to the audio version of this newsletter, search for "Strategy Skills" in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

28 Apr 202140min

144: If Disney+ is just starting with streaming, where is Disney+ going? (Monday Morning 8 a.m. #24)

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Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To listen to the audio version of this newsletter, search for "Strategy Skills" in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

21 Apr 202140min

143: Jim Hemerling, BCG. Co-author of "Beyond Great: Nine Strategies for Thriving in an Era of Social Tension, Economic Nationalism, and Technological Revolution"

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Jim Hemerling is Senior Partner at Boston Consulting Group's San Francisco office and a leader in the firm's People & Organization and Transformation Practices. He has been the leader of BCG Greater China and is a Fellow of the BCG Henderson Institute. His work with clients and his research focuses on holistic human-centric approaches to organizational transformation. Jim is a co-author of BCG's new book - Beyond Great: Nine Strategies for Thriving in an Era of Social Tension, Economic Nationalism, and Technological Revolution. Global companies remain hamstrung by organizational forms that leave them mired in bureaucracy and slow to respond to changing needs. To grow in the volatility of the 21st century, firms must go beyond the familiar matrix structure and reconfigure themselves in more flexible ways. COVID-19 and its myriad effects on ways of working will force leaders to rethink how they build teams and acquire, upskill, and retain talent. Hemerling and his colleagues launched a study of dozens of global companies to determine successful leadership strategies and found that, though seemingly obvious, the best leaders put people and their needs first, rather than regarding them as resources to exploit. Hemerling and coauthors write about these topics in Beyond Great: Nine Strategies for Thriving in an Era of Social Tension, Economic Nationalism, and Technological Revolution (October 6, PublicAffairs). BCG's first major book in years, it will redefine strategy in the post-COVID era. Extending their research far beyond the expected Silicon Valley players, Hemerling and his coauthors at BCG looked at over fifty companies and interviewed hundreds of CEOs across sectors and geographies. The trends: By 2030, companies around the world will have some eight-five million skilled jobs unfilled—a gap that will exact a severe economic toll; In a 2018 BCG survey of 366,000 people from two hundred countries, ranked "good work-life balance" as much more important than "financial compensation" Over 40 percent of hiring managers anticipated that nontraditional educational criteria—like a coding "boot camp"—would soon be just as good a credential as a college degree when evaluating candidates. For incumbents to thrive amidst these challenges, they must deploy new strategies that touch every part of their business, from value propositions and global supply chains to leadership and social responsibility goals. A huge part of this is leadership and the future of work—how to retain employees, attract top talent, and navigate tension when global forces are changing attitudes about work and life. Examples of innovative leadership: Deemphasizing hierarchy encourages employees to take ownership of projects and propel them forward without bothering to seek approval from bosses; Exploiting the gray area of informal conversations that typically take place between colleagues allows employees to break free from their daily work and innovate; Gamifying candidate screening and identifying talent via online competitions and hackathons to appeal to a new generation. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

14 Apr 20211h 1min

142: The Philadelphia 76ers and the New Jersey Devils aren't sports organizations (Monday Morning 8 a.m. #23)

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Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To listen to the audio version of this newsletter, search for "Strategy Skills" in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

13 Apr 202129min

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