Wall Street

While events of the Wall Street meltdown shock and anger us, bombard us with harsh realities and consume us with negative images of collapse, failure, bailout, and rescue, they also provoke us to ask salient questions: How did this happen? Who is responsible? Is greed the cause? Now that we’re in this mess, what do we do? Although it may be difficult to see an upside topic in all of this, aren’t there some lessons to learn for all of us?

One of the crucial development challenges for most leaders is learning how to authentically influence in a manner that creates value. This is not to say that leaders are not getting results–they usually are. What is often missing are results that are adding enduring value. The leadership, events, and results that created the Wall Street meltdown are not any different from the Enron story of the not-so-distant past. Self-focused greed does not endure. How often do leaders get results but leave a wake of bodies in the process? How often do businesses get results and leave people, entire communities, industries, the environment, and financial institutions damaged? This is getting results without creating genuine value, without making a sustaining contribution. This is getting results at the expense of, rather than in service of, many constituencies.

After reviewing the research findings for his book, Good to Great, Jim Collins concluded that “Enduring great companies preserve their core values and purpose while their business strategies and operating practices endlessly adapt to a changing world.” Collins identifies this combination, “preserve the core and stimulate progress,” as the “extra dimension” of enduring greatness. “That extra dimension is a guiding philosophy or ‘core ideology,’ which consists of core values and a core purpose (reason for being beyond making money).” Take a moment now. Can you articulate your own and your organization’s core values and core purpose? Are you and your organization living and leading with this core ideology?

A while ago, I had the privilege of talking with John Dalla Costa, author of The Ethical Imperative. During our discussion, I asked John, “What is ethics?” John’s succinct response, “Ethics is others” surprised me at first. Later, as I let John’s concentrated wisdom sink in, I realized leaders face ethical dilemmas every day, and it usually boils down to people¬–managing constant stakeholder-related trade-offs and serving one constituency better or more than another. Every day we are to some degree ethical and to some degree unethical. We can’t make failsafe decisions on a regular basis, but we can at least aspire to creating enduring value for the constituencies we impact.

As a very wise CEO once shared with me, “ I think one of the key questions every leader must ask himself is, ‘How do I want to be of service to others?” Ultimately, a leader is not judged so much by how well he or she leads, but by how well he or she serves. As leaders we may think we’re leading, but authentic leaders know they are serving. Leadership is a continuum of service, and at the heart of service is the principle of interdependence: relationships are effective when there is mutual responsibility and mutual benefits are served. Serving multiple constituencies wins in the long term.

The principle of self-interest led Wall Street to disastrous results. Moving forward, all of us–Wall Street and Main Street–need to ask ourselves: “Am I doing all I can to serve the constituencies I impact?”

Introductory Entry


I see my blog as a great tool to connect with you about Leadership from the Inside Out principles and practices. I'll share stories and case studies, and comment on relevant issues surfacing in our current lives. We will explore a variety of themes that revolve around the big theme, "Grow the whole person... grow the whole leader." I welcome your comments and questions, and I will attempt to respond to them in future blogs. In this way, we will create a dialog that connects us both from the inside-out and from the outside-in!

In the meantime, here's something to ponder. Warren Bennis, a leadership guru, author of Judgment, and personal mentor says, the purpose of leadership is "to remind people what is important." But, to remind others what is important, we first need to know–from our own life experience, as well as our own hearts and guts–what we know to be valuable, precious, and important. This is no small task.

So what has your life experience taught you? What have the privileges and traumas of your life taught you about what is really important? The theme of my life–both privileges and traumas–has been about growth. Being a catalyst for growth is the essence of what life has taught me and serves as my core purpose to guide my contribution as a leader. What has your life taught you that impacts how you now serve others?

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