Reinvent A Leader's Playbook for Serial

Leadership principles from a master of the business turnaround In Reinvent, renowned CEO and business leader Fred Hassan explains how to transform a struggling business into a raging success by reinventing the culture, attitude, and behaviors of organizations and people. Leaders who want to change cultures and individuals need a cool head, a clear vision, and a well-refined ability to inspire that change. Here, Hassan explains how a productive organizational culture leads to real success. The first part of the book focuses on how you, as a leader, can unleash your full powers by learning to be authentic, purposeful, and connected with your organization. The second part of the book focuses on groups, how to lead them, how to be a role model for the effort you expect, and how to keep winning and innovating. Taken together, these principles fuel smarter strategies, more effective execution, and better governance. Features practical, proven guidance appropriate for every business leader in any industry Ideal for corporate executives, managers, team leaders, human resources professionals, board members, and consultants Written by a renowned public speaker and former CEO known for turning around struggling companies Revealing how you can make culture your secret weapon, Reinvent is the perfect tool for business leaders in highly competitive industries.

Fred Hassan is a Partner and Managing Director with the private equity firm, Warburg Pincus. He is also Chairman of Bausch + Lomb, as well as board member of Time Warner and Avon where he became non-executive chairman on January 1, 2013. Hassan is the former Chairman of the Board and Chief Executive Officer of Schering-Plough Corporation. Prior to joining Schering-Plough in April 2003, Hassan was Chairman and Chief Executive Officer of Pharmacia Corporation—a company that was formed in March 2000 as a result of the merger of Monsanto and Pharmacia & Upjohn. Hassan joined Pharmacia & Upjohn as Chief Executive Officer in 1997. Previously, Hassan was Executive Vice President of Wyeth, formerly known as American Home Products, with responsibility for its pharmaceutical and medical products business. He was elected to Wyeth's Board of Directors in 1995. Earlier in his career, Hassan spent 17 years with Sandoz Pharmaceuticals (now Novartis) and headed its U.S. pharmaceuticals business.

Hassan received a B.S. degree in chemical engineering from the Imperial College of Science and Technology at the University of London and an MBA from Harvard Business School.

List of Figures xiii

Foreword xv

Author’s Note xxi

Introduction 1

PART ONE UNLEASHING THE POWER OF ME 9

Chapter 1 Be Authentic 11

Look in the Mirror 12

Use Mirrors to Tell the Truth 13

Know Who You Are Not 14

Know Who You Are 15

Make Business Integrity a Competitive Edge 16

Be Inspired 18

Be Humble 19

Take Charge, and Don’t Play the Victim 21

Take Ownership, Shun the Blame Game 22

Deal with What Stares You in the Face 23

Chapter 2 Be Purposeful 27

Use the Rule of 3s 28

Use the Power Trident 29

Enter the Discomfort Zone 31

Practice Active Learning 34

Go Global 36

Build Competence in Emerging Markets 39

Make Decisions with Less-than-Perfect Information 41

Embrace Challenges 42

Reinvent Yourself and Your Environment 45

Chapter 3 Be Connected 51

Connect and Align 52

Take Early Action Steps 56

Value EQ as Much as IQ 58

Respect Your Boss’s Position 62

Tune In 63

Practice Active Listening 65

Build Information Fluidity 66

Build Partnering Skills 67

Plug Into the Power Grid 69

Grow Every Sector of Life 70

PART TWO UNLEASHING THE POWER OF WE 73

Chapter 4 Keep Leading 75

Develop the Power Triangle 76

Put People First 78

Assess and Develop People 80

Champion the Innovators 83

Use the Knockout System When Evaluating Senior Executives 85

Work on the Products 88

Work on the Processes 90

Drive Engines of Innovation 93

Work like a Small Company in a Big Company 96

Chapter 5 Role Model Your Expectations 99

Deploy the Leadership Quartet Strategies 100

Earn Trust by Measuring the Trust Index 127

Earn Trust with the Frontlines 129

Earn Trust with Customers 133

Earn Trust with the Lawmakers 134

Earn Trust by Focusing on Long-Term Value Creation 136

Earn Trust in Mergers and Acquisitions 137

Earn Trust by Making the Tough Calls 140

Chapter 6 Keep Winning 143

Use the Power Tool 144

Drive the Virtuous Spiral Upward 145

Link Strategy with Execution 150

Keep It Simple, Keep It Steady 151

Make Priorities, Allocate Resources 152

Make the Strategy Executable 155

Build an Attitude of Urgency 157

Keep a Cool Head When the Discomfort Zone Finds You 158

Power Up the Board 159

Once the Strategy Is Clear, Make Execution the Strategy 162

Multiply the Power 163

Conclusion: What Keeps the Wheel Turning 167

Change-Leadership Takeaways 169

Afterword 171

Appendix A: Serial Success—Playbook Summary 175

Appendix B: The Concepts Behind My Playbook 177

Appendix C: Values Matter 179

Appendix D: Bausch + Lomb’s Rating System Descriptors 181

Appendix E: Guidelines for Expat Managers 183

Appendix F: Stepping-Stones to Transformation 185

Acknowledgments 187

About the Author 189

Index 191

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Reinvent A Leader's Playbook for Serial Success

Summary

Author Biography

Table of Contents

Supplemental Materials