WILLIAM GEORGE

GROUP 6
ASHISH SHUBHAM VAISHALI SUBHAJIT PRIYANKA

WILLIAM GEORGE
Joined Medtronic in 1989 as President and Chief Operating Officer Chief Executive Officer from 1991-2001 Chairman of the Board from 1996 to 2002 Professor of management practice at Harvard Business School

William George s Stages of Life:

VISULIZE ACTIVITIES WITH TIMELINES!
GROWTH PHASE CHALLENGING PHASE SUCCESS PHASE

1942

1960-66

1966

1978-89

1989

1991

1996

2001

2002

2003

CHALLENGES FACED
With George at the helm, Medtronic was on a successful run; its market capitalization had risen nearly 2000% in seven years. In 1998, the company had reached a critical plateau. George s decisions over the next three months would either carry the company to the next level or send it into a tailspin (collapse) for the foreseeable future. Some business were not doing well Quarter results were below analysts expectations

Contd..
The management team was dispirited due to this Some members of the board were against his strategies He came up with strategy of expanding the market to solve all the problems Medtronic went on a buying spree, snapping up six companies for about $8 billion This helped transform the company, laying the groundwork for growth in the next decade Its market capitalization surged from about $22b to $60b

Criteria of success of an organization by W. George

Employees Shareholders Customers

success

Comm unity

Investors

Suppliers

AUTHENTIC LEADERSHIP
Authentic leadership is a concept introduced by management expert Bill George in his 2003 book "Authentic Leadership George argues that authentic leaders have character rather than charisma George describes authentic leadership as a leadership style that is consistent with a leaders' personality and core values, and that is honest, ethical and practical. Leaders have genuine desire to serve others

EIGHT ATTRIBUTES OF LASTING LEADERSHIP

1. Building a strong corporate culture 2. Truth telling 3. Finding and catering to under-served markets 4. Seeing the invisible that is, spotting potential winners or faint trends before their rivals or customers do

EIGHT ATTRIBUTES OF LASTING LEADERSHIP

5. Using price to build competitive advantage 6. Managing and building their organization s brand (which, in some cases, may be their own name) 7. Being fast learners 8. Managing risk

Four authentic leadership components:

Self-awareness Internalized moral perspective Balanced processing Relational transparency

Leadership Lessons
i. ii. They are committed to a purpose Authenticity requires that leaders live by their values and not just pay lip-service to them iii. Lead with the heart iv. They build deep relationships not just casual, superficial ones but strong, long-lasting bonds v. Self discipline