Homepage / Technology / Op-Ed: Uber should take Warren Buffett’s advice for finding a new CEO
“gerçek Parayla En Iyi Slot Makineleri Ve Spor Bahisler test Users535352253 Due Diligence Blog Digital Data Rooms for the Netherlands Board Room Apps Secure Board Management With Secure Board Portals What Happens at Board of Directors Meetings? Board Room Software Review How to Prepare Board Rooms for Effective Board Meetings Board Room Software Boosts Performance and Communication Selecting a Secure Data Room Review Local Data Room Service Review How to Find the Best Virtual Data Room Review What to Look for in a Data Room uk Provider Document Storage and Distribution Software Everything About VDRs Corporate Software Advantages How to Choose a Virtual Data Room Provider The Most Secure Way to Transfer Files How to Manage Online Board Meetings Benefits Virtual Data Room Solutions – Must-Haves for M&A and Due Diligence Best Data Room Functions for the Different Types of Industries How to Choose a VDR Software Provider How to Choose an Online Board Portal The Benefits of a Boardroom Review Board Room Online Solutions – How to Get the Most Out of Your Board Meetings Why You Need a Board Room How a Board Room Blog Can Transform Your Business Choosing the Best Board Room Format How to Have Productive and Engaging Board Directors Meetings Choosing the Right Virtual Data Room How to Keep Safe Documents Storage Teaching Kids About Online Safety Avoid Costly Mistakes With Free Data Room Services Corporate Virtual Data Secure Online Data Rooms Solutions How to Keep Share, Edit and Delete Your Data Safe Virtual Data Room Software Secrets for M&A Due Diligence What to Look For in Boardroom Providers Board of Directors Blog Posts How to Deliver Value at Your Board Meetings How to Have Effective Board Meetings Responsibilities of Board Members Deal Management – How to Effectively Manage a Complex Sales Pipeline Data Rooms For Mergers And Acquisitions How to Have a Successful Board Room Meeting Choosing a Board Room Service Provider What is a Board Room Service? Board Room Software Review – Choosing the Best Portal for Mother Board Meetings Why a Board Room Providers Review Is Important What Is a Board Room Review? Venture Software for VC Firms What Is an Assessment Report? The Importance of a Tech Audit Popular Business Applications What to Look For in a Data Room App What Are Business Applications? How to Choose a Virtual Data Room How to Plan a Data Room Review Coronavirus Guide What is a Virtual Data Room? What Is Data Science? What Is an Operating System? Turbotax Small Business Review How Online VDRs Are Used in M&A Deals Why Choose VDR Software? The Power of Business Software The Benefits of a Software Board Online Data Room Review The Importance of Tech Knowledge Improving Accuracy of Financial Data Online Business Records – How to Keep Your Online Business Records Accurate and Secure What is a Board Portal De? DealRoom Review – A Review of VDR Software M&A Due Diligence for Private Companies The Virtual Data Room Review Why Companies Use a Data Room Review to Facilitate M&A Transactions The Best File Sharing Services How Online VDRs Are Used in M&A Deals Best Virtual Data Room How to Choose a Best Board Room Provider Choosing a Data Room for Due Diligence What Is a Data Room Business Software? Best Data Room Providers Review Data Room Providers Review Mostbet Tr Resmî Web Sitesinde Giriş Ve Kayıt Olm Kumar Oynamak Için En Iyi Yerdir The Benefits of Cloud Data Services for Enterprises Online Data Room and SSL How to Build a Diverse Board of Directors Best Virtual Data Review A Data Room Service Review How Runn Makes Project Data Accessible, Accurate and Shareable Five Pillars of Information Protection The Importance of Online Business Reports Benefits of Colocation Services Virtual Data Rooms Guide Choosing a Business Virtual Data Room Choosing the Right VDR Service Review

Technology

Op-Ed: Uber should take Warren Buffett’s advice for finding a new CEO

Uber CEO Travis Kalanick resigned this week after a group of investors pressured him to step down. Kalanick co-founded Uber in 2009 and it is widely observed that the company and its aggressive culture were formed in his image. That, it turns out, was both a good and a bad thing.

On the positive side, under Kalanick’s aggressive leadership Uber rapidly became one of the most highly-valued private companies in the world, with a valuation just under $70 billion. He deserves a lot of credit for that.

The company disrupted its industry by offering those of us who relied on taxicabs for years an alternative that is easier, less expensive, and cooler. Pushing a button on our smartphones is so much more convenient than hailing a taxicab and paying cash that most of us haven’t braved the elements and crowded streets to hail a taxicab since becoming hooked on Uber.

On the negative side, a culture that tolerated widespread sexual harassment, mistreated employees, and ran roughshod over regulatory requirements grew in parallel with the tremendous economic growth of the company. That is why Mr. Kalanick’s legacy is sadly and avoidably mixed.

His downfall demonstrates the way in which the very qualities that enable an executive to achieve great success have a shadow side and can become a detriment if not counterbalanced by other qualities. What Victor Hugo wrote in Les Misérables can be applied to Mr. Kalanick’s recent flameout: “This light of history is pitiless; it… often casts a shadow just where we saw a radiance.”

The qualities that enabled Kalanick to achieve success included an aggressiveness that would not be satisfied with slow and steady growth, and a pugnacity that would not shy away from a conflict with regulators. Those qualities propelled the impressive growth of Uber but became a detriment when they ran roughshod over ethical concerns and regulatory requirements. Mr. Kalanick’s personal qualities also became a detriment when a leaked video showed him berating an Uber driver, thus tarnishing his leadership image and alienating drivers and the public.

Mr. Kalanick’s emphasis on achieving rapid growth could have been counterbalanced by a concern also for creating a culture of respect and fairness in which sexual harassment would not be tolerated. That would have right as a matter of ethics and also smart as a matter of business.

Employees who are treated well work harder and longer with greater loyalty than employees who are mistreated. In the long run you cannot achieve lasting success in business if you are smart about numbers but stupid about people.

Can a company be as aggressive as Uber is and also be ethical? Absolutely. In fact, a company can be aggressive and downright admirable.

It is possible to be aggressive and ethical in business in the same way that it is possible to go for it within the rules of good sportsmanship in sports. Kevin Durant was recently named the NBA Finals MVP. Anyone who watched the NBA finals knows both that Durant was aggressively trying to win, and that he is a good sportsman.

Executives who want to be aggressive and ethical can also benefit from considering the example of Wayne Gretzky, who dominated the rough game of hockey while avoiding brawls and conducting himself with grace and class.

He led his teams to four Stanley Cup championships, was named the league MVP nine times, and was the league’s leading points scorer for an amazing ten of the twenty seasons he played. But he also won the Lady Byng Trophy for sportsmanship five times.

In contemplating the decisions that led to his resignation, Mr. Kalanick would have done well to carefully consider Warren Buffett’s “rule of thumb” as included in the Berkshire Hathaway Code of Business Ethics and Conduct:

“…I want employees to ask themselves whether they are willing to have any contemplated act appear the next day on the front page of their local paper – to be read by their spouses, children and friends – with the reporting done by an informed and critical reporter.”

The Uber board of directors would also do well to carefully consider the wisdom of Buffett in searching for a new CEO who can pursue growth aggressively while also reassuring investors and gaining the trust and respect of employees and customers.

Mr. Buffett offered the following hiring advice:

“We look for three things when we hire people. We look for intelligence, we look for initiative or energy, and we look for integrity. And if they don’t have the latter, the first two will kill you, because if you’re going to get someone without integrity, you want them lazy and dumb. I mean, you don’t want a spark of energy out of them.”

Here’s hoping that Uber and its next CEO figure out how to go for it with intelligence, energy, and integrity in its next chapter. In setting the priorites for their next chapter, they would do well to consider the advice of Zappos CEO Tony Hsieh: “If you get the culture right, most of the other stuff will just take care of itself.”

Commentary by Joseph Holt, a business ethics professor at the University of Notre Dame’s Mendoza College of Business. Follow him on Twitter @busethicsdude.

For more insight from CNBC contributors, follow @CNBCopinion on Twitter.

Source: Tech CNBC
Op-Ed: Uber should take Warren Buffett’s advice for finding a new CEO

Comments are closed.