Value-Based Leadership

Last week, I attended an informative program based on a discussion by Harry Kraemer, professor at Northwestern’s Kellogg School of Management, Executive Director of Madison Dearborn Partners, and former CEO of Baxter International, a global health care company.

Harry is an exceptional leader, grounded by his values even while leading Baxter, a global leader with more than $12 billion in revenues and 52,000 employees. 

Harry began his discussion by emphasizing that he believes in keeping leadership simple, staying true to his values, including treating everyone with respect and good corporate citizenship.

To Harry, the four principles of value-based leadership are:

1) Self-reflection:
Understanding your abilities, areas of potential development, your values, and the likely outcomes and implications of your decisions.

2) Balance:
Understanding various viewpoints of issues, seeking perspectives and input from others, including opposing opinions, and taking the time to reflect on what is truly best, not for oneself, rather what is best for one’s company, its people, its clients, and the world around us.

3) True self-confidence:
Accepting who you are; not putting on a façade. As Harry directed, “Appreciate your strengths, talents, and accomplishments while also acknowledging the areas in which you need development and seeking input from others who may have more wisdom.”

4) Humility:
Recognizing that you are not better or worse than others, treating every person with respect, knowing that your leadership can always be improved, letting people know that you want feedback and help, and realizing that working towards continuous improvement is the pathway to success.

Self-reflection is the foundation for Harry’s value-based leadership. Every evening before he gets in bed, he spends 15 minutes asking himself questions such as, “What did I say I would do today, what did I actually do, and what is most important that I do tomorrow?” And, “What do I stand for? What matters? What are my goals? What is success? Significance? What should I do differently tomorrow?”

Self-reflection enables us to avoid confusing activity with productivity. What do you do to self-reflect?

In addition, Harry made a number of comments that I particularly appreciated:

• I always try to refer to people as team members, not employees.  
• Leadership is not control; it is the ability to influence, which requires that we can relate to our team members.
• Team members want to be proud of their company, believe in its integrity and willingness to be family friendly.
• It's always right to do the right thing.
• Your leadership begins long before you become the boss.

It was a wonderful evening full of discussion for all who attended. I am thankful to the Woodstock Theological Center for sponsoring it and I recommend Harry Kraemer’s recent book, From Values To Action.