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Is LUCK important in
business?
Question
If luck was an entirely random event, surely, it would even out and at some point,
luck would run out on someone.
Why do some
people always
have all the luck
whilst others are
plagued with bad
fortune?
Yet it seems doesn’t seem to even out. Could
luck be more than a random occurrence but
something that can be influenced?
Idris Jala – 6 keys to leadership success: Luck = “Divine Intervention”
- You could control about 40% of things you were working on.
- Remaining 60% are things beyond your control but if you were a good human
being you could ‘influence’ the divine to be on your side and bring yourself good
‘luck’.
Are the “world’s best” leaders
born lucky or developed? Is
leadership genetic (born lucky)
or learned?
Question
Luck that you cannot affect
Luck that you can influence
There are 2 types of LUCK:
Gro
wth
Time
My “lucky” Experience
10. Johnson & JohnsonIndustry : HealthcareFunction: HRGlobal Role
9. GE Asia PacificIndustry : MultiFunction: HRAsia Role
7. GE AircraftIndustry : AviationFunction: FinanceCFO & ED 8. GE Crotonville
Industry : MultiFunction: HRLearning Role
6. GE CIGIndustry : MultiFunction: ITProject Mgmt Global
5. GE CapitalIndustry : Financial ServiceFunction: Finance/SourcingEurope Leader
4. NBC UniversalIndustry : MediaFunction: FinanceProduct Leader
1. GE InvestmentsIndustry : Investment BankingFunction: Business DevIndividual Contributor
3. GE GCSIndustry : Oil & GasFunction: FinanceInventory Mgmt
2. GE InternationalIndustry : MultiFunction: FinanceAnalyst Global
12. LeaderonomicsIndustry : MultiFunction: CEOBusiness leader
11. Star Media GroupIndustry : MediaFunction: CEOBusiness leader
Key question: How did they become best?
Was it Luck?
But is a different leadership required for the 21st century?
Clearly,
because of high performance leadership
So how did they become
leaders? Were they lucky?
Question
Leadership is . . .AttentivenessAssertivenessResponsibilityDiligence Dependability
Obedience
Loyalty ThoroughnessTruthfulness InitiativeHospitality
Humility
Forgiveness Tolerance
CompassionSincerity
CReativity
Having followersPersuasiveness Virtue
VisionDeference
DiscretionBOLDNESS
Determination Gratefulness Self-ControlSensitivity
ThriftinessGenerosity Punctuality
Proactiviness
Purpose
Enthusiasm
Availability
OrderlinessResourcefulness
Flexibility
WisdompedInnovation
Execution
If we invested in people and
taught every single skill listed on
the previous slide, would we be
able to “create” leaders?
Question
14
How do great leaders
just know when and what
decisions to make?
Was It Luck?
motherteresaHer story in India
The Research
In past 30 years scientists have looked into top-level performance in a
wide variety of fields. Findings:
- Natural talent doesn’t explain top-level performance – if talent even exists.
- In fields such as chess, music, business, and medicine, high IQ doesn’t necessarily
correlate with top-level performance.
Some chess masters have below average IQ, for example.
Deliberate practice is the key.
- In England researchers studied music students. The only difference in the top
performing group and other students was not talent, but the amount of practice.
- Talent is an innate ability to do something better than others.
If it does exist, it is irrelevant to superior performance.
Practice is what counts – deliberate practice.
Time
Current Reality – Self AwarenessAb
ilit
y/A
ch
ieve
me
nt
Decision-making
GAP
Purpose/Vision
The Essence of Leadership is . . .
Learning/
Execution/
Action
GAP
Fuels our energy
Ensures reality
Study on luck by researchers
• Outcome: Luck is as much about attitude as it is about probability.
The key difference between lucky people and the ‘unlucky’ ones is the ability to recognise these opportunities and leverage them
Lucky People have . . .
High ROL
Bette Nesmith
Graham
• Secretary
• Single mom
• Always making mistakes
• Created liquid Paper
• Was she Lucky?
• Or made her own luck?
story…
Was it luck?
wayne rooneythe
Principle
Talent needs to be MANAGED & DEVELOPED. This includes enabling talents to maximize
potential and grow
Process and Tools
Succession Planning
Performance Mgmt
Career Paths
Talent Pools
Leadership Development Programmes
Learning Curriculum
Talent Acceleration Programmes
Feedback & Reflection
Principle
Identify & select leaders that have the passion, desire and ability to make a difference
in your organisation
Process and Tools
Entry Level Leadership Program
Competency Model/Values
Enterprise Assessment System
Interviews & Assessments
On-boarding
Cultural Assimilation
Principle
To retain talent, 2 key factors:
1. Internal motivations (comp/ben, engagement
2. External factors (company brand & mktg perception)
Process and Tools
External Branding initiatives
Mentoring Programmes
Engagement Programmes
Total Rewards Structure (Comp & Ben)
External Perception of the Organisation & Leadership
Culture of Organisation
Organisational Responsibility – are we building your “luck” factors?
Talent Acquisition
Talent Development
Talent Retention
An Infrastructure to Enable Leadership Development
Talent development is A PROCESS
Leadership is A PROCESS
(not Luck!)
Leaders and companies in the 1980s
Jack Welch (GE) –internal
Andrew Grove (Intel) – internal
Roger Enrico (Pepsi) – internal
P&G, Hindustan Unilever
The Success Stories in 80’s
IBM – external CEO in 80s
Apple – new external CEO replaced Steve
Jobs
Motorola – no succession planning
Atari, and numerous other tech companies
The Failures Stories in the 80’s
I'm a great believer
in luck, and I find
the harder I work,
the more I have of
it.“
– Thomas
Jefferson
Pygmalion Effect states that you get what you expect. Most ‘lucky’ people expect the best, confident that their future is going to be great. Somehow, these expectations become self-fulfilling prophecies. Ask around and you’ll find that “lucky” and “unlucky” people have astoundingly different expectations.
www.leaderonomics.org
www.leaderonomics.com
www.facebook.com/roshanthiran.leaderonomics
www.leaderonomics.com
