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November, 1996, Vol. 1, No. 2
 Stock price, globalization, and the top
management team.
Leadership and stock price:
A survey of 203 company officers responsible for relations with
investor asked which factors have greatest impact on their company's
stock price. Topping the list: the quality of senior management.
Implication:
Credibility of the top management team is critical to investor
confidence in the firm.
Source:
National Investor Relations Institute
Leadership and globalization:
A study of 54 U.S. multinational corporations reports that the
foreign experience of the top management team significantly shapes
the firms' international diversification strategies. When top
managers bring more foreign experience to the executive suite,
their companies move more production abroad and make more sales
abroad.
Implication:
International experience of the top management team drives globalization
of the firm.
Source:
Rakes B. Sambharya, "Foreign Experience of Top Management Teams
and International Diversification Strategies of U.S. Multinational
Corporations," Strategic Management Journal 17 (November, 1996).
Collected excerpts on leadership and management
Attorney J. Edwin Dietel has assembled critical passages from
leading authorities on leadership and its development. Included
are excerpts from the works of Warren Bennis, James MacGregor
Burns, Jay Conger, Stephen Covey, Philip Crosby, Max De Pree,
Peter Drucker, John Gardner, Rosabeth Moss Kanter, John Kotter,
James Kouzes & Barry Posner, Thomas Peters, and Noel Tichy & Mary
Anne Devanna. Also included are passages from a host of leading
books on management, including those of Terrence Deal & Allan
Kennedy, Roger Fisher, Michael Hammer and James Champy, Linda
Hill, Jon Katzenbach and Douglas Smith, Jordan Lewis, Margaret
Neale & Max Bazerman, Kenichi Ohmae, Willliam Ouchi, James Brian
Quinn, Michael Porter, and Peter Senge.
Source: J. Edwin Dietel, Leaders' Digest: A Review of the Best Books on Leadership (Chicago: American Bar Association, 1996)
Leadership and Teamwork
Wharton Executive Education is offering an open-enrollment program
in "Executive Team Dynamics: When All The Members are Leaders"
on April 13-18, 1997.
Information:execed@wharton.upenn.edu
In response to a summary of the paper on "CEO Charisma and Profitability:
Under Conditions of Perceived Environmental Certainty and Uncertainty"
(October, 1996, issue of the digest):
"I agree with the general premise that in times of crisis, true
leadership can be readily seen, since there may be some new steerage
of the ship that can readily be seen. But the times of crisis
are, or should be, the exception, not the rule. Programs that
are planned and executed in a non-crisis mode can also demonstrate
leadership, but it takes longer and perhaps better vision to see
it.... I know of many instances where excellent leadership was
exercised in a non-crisis environment. I would cite the leadership
of Arnold Weber at Northwestern University as an example."
-- Michael Aiken, Chancellor, University of Illinois, Champaign-Urbana
"The answer to the question 'Can leadership be taught?' is an
emphatic but qualified 'Yes' -- emphatic because most of the ingredients
of leadership can be taught, qualified because the ingredients
that cannot be taught may be quite important. The notion that
all the attributes of a leader are innate is demonstrably false....
The individual's hereditary gifts, however notable, leave the
issue of future leadership performance undecided, to be settled
by later events and influences."
John W. Gardner, On Leadership (New York: Free Press/Macmillan, 1990).
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