The study of top business leaders in the United States revealed that there isn't a single characteristic or business practice common to all. Instead, successful leaders develop a unique blend of character traits and personal philosophies. Two lists were compiled, one of six business principles and another of ten common traits, which together form the foundation of exceptional corporate performance. The findings suggest that while technologies and other details may change over time, principles of good business remain constant. This aligns with Ralph Waldo Emerson's sentiment that our chief want is someone who inspires us to be what we know we could be. The best business leaders exemplify what can be achieved in business and serve as great mentors and role models.
Identifying the best business leaders in America is a complex task due to the broad and somewhat ambiguous definition of 'best'. It could refer to the person who generates the most wealth for their business, the one who is well-regarded by other influential business leaders, or the one who generates a lot of added-value for their company without being paid an outrageously high salary. To address this ambiguity, 11 specific weighted measures were proposed: long-term financial performance, visionary and strategic skills, ability to overcome challenges, organizational and people leadership, integrity and strength of character, evidence of an entrepreneurial outlook, impact on an industry or society, track record of innovation, strong and consistent customer focus, commitment to diversity, and overall business leadership. The Gallup Organization was commissioned to survey a wide cross section of business leaders, asking respondents to nominate the most outstanding leaders in each of the ten criteria. The survey included 200 Fortune 1,000 CEOs, 170 Inc. 500 CEOs or presidents, 88 leaders of large non-profit organizations, and 117 deans or presidents of major universities. Each respondent was asked to nominate one successful leader in each of the ten criteria, and one person who represented successful leadership overall. From this survey, a list of 240 potential 'best' business leaders was drawn up. This list of 240 potential business leaders was then pared down to a short list of 50 using three criteria: a statistical analysis of corporate financial performance, a decision to consider only currently active business leaders, and additional research carried out by the authors and associates. The 50 business leaders selected as the best business leaders in America, in no particular order, included: Mike Armstrong (AT&T), Carol Bartz (Autodesk), Hans Becherer (Deere), Gordon Bethune (Continental), Larry Bossidy (Allied Signal), Jim Broadhead (FPL Group), Steve Case (America Online), John Chambers (Cisco), Michael Dell (Dell Comp.), Elizabeth Dole (Red Cross), Bob Eaton (Daimler Chrysler), Bernie Ebbers (MCI WorldCom), Michael Eisner (Disney), Don Fisher (The Gap), Don Fites (Caterpillar), Bill Gates (Microsoft), Lou Gerstner (IBM), Ray Gilmartin (Merck), Ace Greenberg (Bear Stearn), Hank Greenberg (AIG), Andy Grove (Intel), Charles Heimbold (Bristol-Myers), Martha Ingram (Ingram Industries), David Johnson (Campbell Soup), Herb Kelleher (Southwest Airlines), Bill Kerr (Meredith), Chuck Knight (Emerson Electric), Dennis Kozlowski (Tyco Int.), Ralph Larsen (Johnson & Johnson), Ken Lay (Enron), Shelly Lazarus (Oglivy & Mather), Bill Marriott (Marriott International), Lou Noto (Mobil), Paul O’Neill (Alcoa), John Pepper (Procter & Gamble), Frank Raines (Fannie Mae), Howard Schultz (Starbucks), Charles Schwab (Charles Schwab), Walter Shipley (Chase Manhattan), Fred Smith (FDX), Bill Steere (Pfizer), Bob Tillman (Lowe’s Companies), Alex Trotman (Ford Motor Company), Dan Tully (Merrill Lynch), Mike Volkema (Herman Miller), Charles Wang (Computer Associates), Sandy Weill (Citigroup), Jack Welch (General Electric), Al Zeien (Gillette), David Komansky (Merrill Lynch), and Peter Drucker, who was added as the 51st business leader at the author’s discretion.
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