The Secret of Exceptional American CEOs

The Secret of Exceptional American CEOs

William Thorndike's "The Outsiders," which analyzes CEOs who have achieved outstanding results in the U.S. over the past 50 years, resonates deeply with me as someone who has interviewed many company leaders. I highly recommend this book to all executives."Most exceptional CEOs were frugal, humble, analytical, and self-disciplined. They were devoted to their families and didn't enjoy public activities."Warren Buffett lives in a quiet rural town on the outskirts of Chicago. He prefers this setting to a complex, noisy city, both due to his dislike of media exposure and his belief that it's more conducive to focusing on discovering and investing in good companies.Executives who prioritize long-term growth over short-term results don't get easily swayed by fluctuations and dislike showy, event-driven management styles.Of course, as author Laurel Thatcher Ulrich said, "Well-behaved women seldom make history," which has some merit. However, like people, companies with more talk often have less substance.The management philosophy of Capital Cities' Chairman Murphy, one of the highest-growth companies in U.S. history, was "Hire the best people possible and leave them alone." The idea is that if you delegate authority to top talent and support their responsible management, profits will follow. COOs maximize profits in their areas, while CEOs invest those profits wisely, creating a sustainably developing organization.The core of Capital Cities' management is decentralization. Decentralization is a powerful remedy for reducing dissatisfaction within a company.

#TheOutsiders #Exceptional #CEO #CommonTraits #Entrepreneurship #Leadership

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