Reject your first thought, advises top Coca-Cola executive Bea Perez. Example: When her company decided to work with NASCAR, she thought they needed to sponsor a car like everyone else. But she listened to others who knew more. A car is great for brand awareness, they said, but Coca-Cola didn’t need that. —Adapted from “The Marketer,” Taylor Mallory, Pink magazine.
Hire people who are better than you, and be sure to give them credit, says outgoing Wal-Mart CEO Lee Scott. He would have loved to take credit for his company’s $4 generic drugs program. “But I had nothing to do about it,” he says. —Adapted from “Wal-Mart CEO: Spending less has upside,” Parija B. Kavilanz, CNN.
Tie senior leaders’ compensation to innovation goals to reach them more quickly. At Whirlpool, “innovation czar” Nancy Snyder says they only tied compensation to innovation in year three. “If we had done it from the get-go,” she says, “we could have sped up.” —Adapted from Making Your Company An Innovation Machine,” Terry Waghorn, Forbes.
What do employees look for in a leader? Aside from “honesty” (the No. 1 answer), reports a Harvard Business Review survey, people want a forward-looking leader. —Adapted from “To Lead, Create a Shared Vision,” James M. Kouzes and Barry Z. Posner, Harvard Business Review.
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