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Cultural Transformation Tools International ConferenceSeptember 28, 2016 – September 30, 2016
Toronto, Canada
Values-Driven Leadership in Business and Society
Insights into Leadership
James StatenSenior Vice President, Finance and Chief Financial Officer
University of Southern California
Day Two – Practical Examples & Application ModelsSeptember 29, 2016
9:55 a.m. – 10:40 a.m.
Insights Into Leadership
Core Values
Time & Money
Vision
Leading From The Heart
3
Insights Into Leadership
Core Value Stories From TwoBusiness Sectors
4
Health Care
Higher Education
Insights Into Leadership
5
Insights Into Leadership
ValuesIntegrity
Patient-CenteredRespectAccountabilityCompassion
Doing the right thingPutting patients and families firstValuing all peopleBeing responsible and taking actionBeing empathetic
Values
6
VISIONMISSIONVALUES
1. 20,000
2. $4 B
3. $160 M
4. 2,000/200
5. Epic 7
Insights Into Leadership
8
My USC Journey Thus Far . . .
Sign USC Employment Contract, October 2015
Health System Financial Turnaround, June 30, 2016
USC Start Date, January 19, 2016
Moody’s USC Credit Opinion, August 9, 2016
USC Achieves Record Low Interest Rate on $723M Bond Refinancing, August 15, 2016
Workday Kick-off, September 22, 2016
Insights Into Leadership
9
Vision: To transform education in a rapidly changing world by creating scholarship with consequence and connecting brilliant minds equipped to explore and lead new frontiers of human progress.
Mission: The development of human beings and society as a whole through the cultivation and enrichment of the human mind, body, and spirit. The principal means by which our mission is accomplished are teaching, research, artistic creation, professional practice and selected forms of public service.
Values: Commitment to Service Search for the Truth Respect Diversity Informed Risk-Taking Integrity Team Spirit
These values define our community, sustain a sense of cohesiveness, and connect us to our past and to our future.
VISION | MISSION | VALUES
Insights Into Leadership
10
Fertitta Hall Ribbon CuttingSeptember 7, 2016
Insights Into Leadership
The 1% Rule
11
99%
1%
Insights Into Leadership
USC President, C.L. Max Nikias, Spotlights Diversity in Annual Address
“It is by embracing every culture, my fellow colleagues, every religious view, every individual, that we find ourselves.”
– C. L. Max Nikias, February 11, 2016 10
Insights Into Leadership
USC Health System Turnaround Twelve Month Year-To-Date FY2016
13
1,200
1,250
1,300
1,350
1,400
1,450
1,500
1,550
$1.3B$1.4B
$1.5B
Total Revenue($ in millions)
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
-
20
40
60
80
100
120
$20M$39M
$110M
1.5%
2.8%
7.3%
EBITDA before Physician Recruitment
EBIDA before Physician Recruitment EBIDA Margin
($ in millions)
2015 Actual FY 2016 Budget FY 2016 Actual
(80)
(70)
(60)
(50)
(40)
(30)
(20)
(10)
-
10
20
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
($67M)
($50M)
$10M
-5.1%-3.6%
0.7%
Bottom Line Operating Results
Bottom Line Operating Results Bottom Line Margin
($ in millions)
2015 Actual FY 2016 Budget FY 2016 Actual
2015 Actual FY 2016 Budget FY 2016 Actual
15%Revenue Growth
Rate
Insights Into Leadership
14
Credit Strengths:
• Excellent strategic position• Exceptional fundraising• Large research activity• Strong governance and management • Expanded senior management team• Close integration of the university and healthcare operations• Consistently positive operations and improved healthcare operations• Close integration of the university and healthcare operations
9 August 2016
Outlook StableAa1
Insights Into Leadership
15
Lowest Interest Rate for Bond Yields of 20–30 Year Maturities
3.028%
MorganStanleyBuildingNear TimesSquare inNYCAug. 2016
Insights Into Leadership
How a person or organization spends their Time And Money speaks to what is important to them
16
Through the CFO Lens
Insights Into Leadership
Until world business leaders become aware that they are the problem, they can’t be part
of the solutions that are so needed today
Present and Open to the possibilities that might be revealed in the moment.
Release that which doesn’t
serve us
Aware of our reliance on past successes and expectation of what the future
should hold
17
Insights Into Leadership
Vision
18
Insights Into Leadership
New world business leaders will increasingly strive to build bridges (in their work) improving the health and wellbeing of those they serve guided by
W I E
S
N
D
U
The Seven DirectionsAllies
19
Insights Into Leadership
The Three Piles
20
Insights Into Leadership
1. Financially Conservative
2. Strong Shared Values
3. Peripheral Vision
4. Experimental Mindset
Characteristics of Long-Lived Organizations
21
Insights Into Leadership
The 3 “D”s1. Design
2. Delegate
3. Disappear22
Insights Into Leadership
Q & A
23