How to Differentiate Great Leaders from Good Leaders

Recently, I attended a memorial service for Dennis Dammerman, a retired GE executive and one of the very first people I interviewed with at GE 30 years ago. He was a mentor and friend to me and a great leader for GE. Dennis was proof of the power of GE’s meritocracy. He started at the bottom and worked his way to the top, ultimately becoming CFO and a vice chairman. He was tough-minded but fair; a great coach. He had excellent judgment and displayed calmness during crisis. He was loyal, and he loved his work. Simply put, he was representative...

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How to Think Like an Entrepreneur

If you’re seeking wisdom on the nature of entrepreneurship, look to art, literature, and popular culture. For example, in my experience the best guide to the nature of vision and leadership is that seminal fictional character Don Quixote. His story epitomizes how courage and clarity of vision can win the hearts and minds of others. And who hasn’t learned the brass tacks of power and influence by watching Tony Soprano in action? If you’re open to it, there’s a wealth of inspiration and insight to be had out in the world,...

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If You Want to Be an Entrepreneur, Don’t Go to Harvard

My greatest disappointment after joining academia was to see my most promising students accept jobs at Goldman Sachs or McKinsey. Engineering students with ambitions to save the world would instead become financial analysts—who used their skills to “engineer” our financial system. Or they would take grunt jobs in management consulting—another waste of valuable talent. Why would they sell their souls? Because they had no choice, the burden of debt they amassed while getting their degrees was just too great. They had six-figure student loans...

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How Your Perspective Affects Your Attitude

Did you know that the difference between success and failure is often determined by the way you look at it? Take for instance a product or service that never got off the ground. A failed idea could be considered an investment failure from the standpoint of a new product launch. Or it could be considered a great opportunity from the perspective that a better and more marketable version can be created. It all depends on how you look at it. In fact, many times personal tragedies and failed ideas have become the launch pad for new focus and determination...

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Warren Buffett adjusts portfolio

Famed investor Warren Buffett is the latest celebrity investor to reveal major trades in the market Thursday, giving another glimpse at how the big money is playing the rally. The CEO of conglomerate Berkshire Hathaway, disclosed some tweaks in his portfolio as of June 30 including a new 547,312 share stake in satellite TV operator Dish Network and a 17.8 million shares position in gas producer Suncor. Buffett is best known for making a few, concentrated bets on companies that he plans to hold for a long period of time. Unlike other large...

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