Bob Iger on Leadership

Keywords: #LifeLessons #Life #Business #Leadership

Table of Contents

Introduction

My notes doesn’t do justice for the videos I watched. Clarity in his words and their crispness,careful selection of insights of his time as CEO. No non-sense beating around the bush kind of lessons.

I personally believe leader needs to have clarity, eye for details and empathy for people. But there are other facets of being leader, which is:

  • Good Negotiation skills
  • Risk Taking Ability
  • Oozing Optimisim
  • Fairness

But what I believe is being reinforced and opening new set of skills into the toolbox, these lessons are priceless.

Starting your day

4:15 am

  • is workout. in solitude.
  • Listening to Music,it is a sort of meditating
  • I think about things.
  • I dont look at my email. It can be mood changing.
  • Clarity of Thought

6:30 am

  • I reach office and I turn the lights on
  • I easing into my day and organize.
  • Create Agenda and be prepared for the day.

8 am - 4 pm : Meetings

  • Home for dinner.
  • Family is important part of my life
  • After dinner, I return to my homework.
  • 8-10 pm do something little distant from my job.

Infuse creativity

  • Have I got things done.
  • Infuse some creativity in everyday
  • keeps put a smile on your face.

Advice

  • Focus is imperative
  • Define and reinforce your priorities regaularly
  • Clarity is an essential ingredient for leadershio
  • Evolve and adapt to times. Critical

Focus Strategy and Priority

  • Focus determines reality

  • important for leadership

  • people need priorities

  • ties to stratic focus

  • 2004 new CEO

  • Interview with board memebers

  • How I intend to run the company

  • where we are going to allocate capital

  • I need to articulate the strategy

  • Only few strategy - so you can focus

    • Invest in creativity
    • Embrace Technology
    • Grow Globally

How to comunicate

  • Clarity - Articulate them clearly
  • internal communications plan
  • why should we adopt
  • Tying a value proposition - If we do this, such and such wil happen

Reinforce

  • on a constant basis , marketplace conditions to be considered.
  • requires lot of input to leader
  • Fair amount of face-to-face basis
  • articulate the priorities
  • Get the feedback and what their challenges are , give and take advice.
  • Not worry about putting truth to table. Doing it regularly is important as businesses are dynamic

Pixar acquisition case study

  • didnt have end in mind.
  • decade of struggle as of 2005
  • was to turn disney animation around. Talented leadership.
  • Best animators are need of time. Pixar was good at that time.
  • Steve Jobs was CEO of Pixar and had disputes over Disney over contracts and split finally.
  • Bob was to repair the relationship
  • Bob had this idea of ITunes TV just like iTunes for music.
  • Steve came down and showed him the first video iPod.
  • Agreed on deal to put ABC’s shows on the video iPod.
  • Board believed Disney Animation was in good shape.
  • They weren’t aware of it. Its all about future in terms of animation.
  • We know what was Pixar worth. we’d pay premium over stock price. Cannot justify.
  • If Steve to run the Disney as he was owning 50% share on Pixar. He said it would good for company.
  • I was certain to buying pixar. To bring in great technology and animators to Disney. Thereby increasing my idea of staying as CEO for longer period of time.

Getting Steve Jobs on board

  • To Steve Jobs : what about Disney acquiring Pixar ?
  • Tell me more about the idea.
  • one idea notion of buying pixar. why dont we talk about it.
  • Steve & Bob : on boardroom.
  • Steve took the marker. Pros and cons was discussed. 3 pros and more cons.
  • Bob said it is not happening and Steve asked “Why do you conclude that ?”
  • Steve said I am seeing the Pros outweigh all the cons.
  • Steve had ability to see essence of something.
  • Disney and Pixar would thrive together.
  • Steve and Pixar discuss pros and cons. Steve was worried about process making the technical people go crazy and Disney would not take risk.
  • Pixar people were not happy. Steve asked them to hear the pitch.
  • pixar team should them the stories in progress.
  • Bob was excited about technology and what this could meant to Disney.
  • Bob successfully pitched the idea to Creators. over Dinner and a lunch.

Merging Company’s Culture

  • Pressure to create bottom line results
  • We need to assimilate a company fast. But there is a culture.
  • Make sure the culture thrive.
  • Being sensitive to Pixar culture. Culture is valuable.
  • Preserving culture is important.

Success

  • Aquisition is a risk. It was a 7+ billion merger.
  • Identify weakness and develop solution
  • Creative talent.
  • Relationships can be repaired.
  • Respect Culture
  • Confidence in your instincts

Art of Negotiation

  • No two people have same negotiation.
  • Put things in table quickly and directly.
  • Get to the essence quickly. It might give them some advantage.
  • It should be win-win.
  • If winner-take-all negotiation, it takes long.
  • Forge a personal relationship. To convince them.
  • With Steve Jobs, it was honest, no ego, and focus on what needed to be acheive.
  • understand what other side needs.

Brand Value

  • When you say the brand name, what are the specific attribute that comes to the consumer.
  • Brand can convey, what the product is, so consumer can decide quickly. Trusting that they can derive value in doing so.
  • Brand being relevant is important.
  • Battle Traditionalist, has to be revered but not to be touched. But Brand has to be respected.
  • If you revered something, no one can touch it. It cannot be changed.
  • If you respect a brand, you bring the values, but it also progresses.
  • Keeping Brand modern. For example show young woman empowered.
  • Example is Frozen.
  • Ability to mine brands, monetize the businesses. Example: Frozen as consumer products for kids to enjoy. Walk around characters in park.
  • Brand is a relationship between consumer and product.
  • Experiencing Brand in multiple places. Like Legoland.
  • Understand the essence of brand. understand what that brnad stands for.
  • Don’t abandon the core values in order to be relevant.
  • Never do something to brand for short term profit, thereby destroying the long term value.

Marvel Aquisition Case Study

  • Spend time is going to be enhance the brand value/reputation.
  • Potential damage when buying a company. Core Value for Marvel shared many core values.
  • Should we tame down Marvel, doing that would damage Marvel brand.
  • So Brands are managed separately.
  • Fan is short for Fanatics. Should be used as base to build upon.

What customers want

  • storytelling is our universal appeal
  • modern technology is important and story having its relevance
  • reflect the world we live

Captain Marvel and Black Panther

  • People being skeptical that it would resonate with people
  • movie reflect diverse people in world

Limitations of Data

  • you give customers before they know they want it. This needs guts
  • how a marketplace reacts depends gut instinct
  • talk with customers and know them
  • touch the market direct and feel the real essence of it.
  • Example : doing business in India. you need to go there and experience the market directly.

Risk Taking

  • If you adopt status quo, it is doomed for failure
  • anythin new and creative is ricky but necessary
  • great risk taking has great benefits
  • creativity has inherent risk
  • After failure of “Cop Rock” which failed
  • “NYPD Blue” => was a success which was also risky
  • Being conservative after failure is going bring more failure
  • Do your homework
  • Risk taking is result of well thought process
  • Thoughtfulness = > understand how risk will play out if there success or a failure taking it.

21st Century Fox

  • Rupert Murdoch of 21st century Fox.
  • want to know which assets of 21st century fox to buy so it fits the Disney’s strategy.
  • It was fitting the direct-to-consumer business strategy
  • not how assets would perform but how that affect new strategies
  • Comcast was bidding for 21st cetury fox.
  • Idea was to bet significantly higher to camcast would budge.
  • High stakes comes the High stress.
  • whiteboards makes easier to get a sense of scale and long term strategical thinking.
  • Restructuring can be good for your company

Disney+

  • Have Foot in the present & a foot in the future.
  • Embrace disruption is to “Embrace change”.
  • Evolving ESPN
    • ESPN was affected by technological disruption
    • Acquire the technology necessary to absolve the change.
    • BAMTech - Direct-to-Consumer
    • Bring the disney to ESPN way, and more like Netflix
    • Having content creation ability helps for the future platform
    • AI based personalized content delivery to consumers directly

Success

  • Foster Curiosity. Its vital. Desire to learn new things. If not you never innovate.
  • Be Authentic : Never faking anything that you don’t believe.
  • Operate with Integrity: Setting and adhering to high standards.
  • Perfectionism: work hard to make things great. Always attempt for high quality product.
  • Brain , Energy and Integrity.
  • Never accept mediacrity.
  • Opportunity to make them great. It always pays off.
  • Treat people as leader.
  • being emphathatic
  • giving second chance for honest mistakes.
  • owning up mistakes. People are impressed by the fact to take responsibility of failure or a honest mistake.
  • Making decisions in a timely manner. Indecisiveness is counter productive. People need to know what they need to do and when.
  • Communicating good and bad news is equally important. Creating safe environment for openess and honesty.
  • Optimism can inspire.
  • Have some humour.

Conclusion

  • Have limits on future thinking. Be definite like 5 or 10 years.
  • Work with integrity and make the future a bright one.