Fortune Magazine senior writer Betsy Morris recently took the bold move of going head-to-head with the Six Sigma master himself, former GE CEO Jack Welch, by developing seven “new rules” for corporate leadership in the 21st century.
From our vantage point, new rule #7 was of greatest interest. The old rule of “admire my might” is supplanted by the new rule of “admire my soul,” according to Morris. Having a soul allows corporations to excel by securing a defensible license to operate.
As we have heard from many of our clients, there is recognition that companies are increasingly expected to mirror the values of their customers and carefully balance stakeholder expectations with a long-term view. As Coke CEO E. Neville Isdell notes in the article, “Our legitimization in society is a very important part of what we do.” Ensuring that those ‘soulful’ business practices are linked to securing a license to operate is a critical next step for most corporations.
Read the new (and old) rules at: http://money.cnn.com/2006/07/10/magazines/fortune/rules.fortune/index.htm
