Overview
This lecture summarizes key soft skills learned at Harvard Business School, focusing on leadership styles and networking strategies essential for career and personal growth.
Leadership Styles
- Harvard emphasizes developing your own leadership style as a core part of its education.
- Four main leadership styles: servant, transformational, transactional, and laissez-faire (hands-off).
- Servant Leadership: Leaders prioritize serving employees, empowering them, and leading by example (e.g., Howard Schultz at Starbucks).
- Benefits for employees lead to improved customer experiences and business performance.
- Transformational Leadership: Leaders inspire through strong vision and charisma, motivating teams to achieve ambitious goals (e.g., Steve Jobs at Apple, Elon Musk at Tesla).
- Can drive innovation but requires a strong supporting management team.
- Transactional Leadership: Based on clear rewards and penalties; high performers are rewarded, low performers may be let go (e.g., Jack Welch at GE, common in finance and sales).
- Drives results but can foster a competitive, high-pressure environment.
- Laissez-Faire Leadership: Little formal structure; teams self-organize, requiring extreme ownership and initiative (e.g., Valve in gaming).
- Supports creativity but may not suit every company or team, needs high trust and self-motivation.
Application of Leadership Styles
- Effective leaders often blend multiple leadership styles depending on company stage, industry, and team needs.
- Leadership style directly impacts company culture, employee performance, and growth.
- Early-stage startups may benefit from hands-off leadership; as companies grow, more structure may be needed.
Networking
- Networking is a major intangible benefit of business school, providing access to future leaders, investors, and experts.
- Key networks include classmates, faculty/professors, and alumni/investors.
- Relationships built at school can offer practical support, opportunities, and advice for ventures and careers.
- Leveraging casual, reciprocal connections (e.g., texting for quick advice) amplifies the value of a strong network.
Building and Maintaining Networks
- Networking requires intentionality: maintain relationships, provide value, and offer help before seeking it.
- Stay in touch by sharing relevant articles or updates, treating professional contacts like friends.
- Networking is reciprocal—be proactive in offering support to others.
Networking Beyond Business School
- Effective networking does not require an elite degree.
- Focus on giving before receiving; offer value (e.g., sharing useful information or opportunities).
- Small gestures, like sending an insightful article, can build goodwill and strong connections.
Key Terms & Definitions
- Servant Leadership — A style where leaders prioritize serving their team and promoting their well-being.
- Transformational Leadership — Inspiring and motivating employees through a compelling vision and charisma.
- Transactional Leadership — Leadership based on clear rewards for good performance and penalties for poor performance.
- Laissez-Faire Leadership — Minimal direct leadership, allowing teams to self-direct and organize.
Action Items / Next Steps
- Consider your personal leadership style and how to adapt it to different teams or company stages.
- Practice intentional networking by reaching out and offering help or information to contacts.
- Reflect on which leadership styles and networking approaches best fit your career goals.