The Bregman Leadership Podcast
Episode 57

Harry Kraemer

From Values to Action

What are the values of a great leader? Are you a value-based leader? You can (and should) be, says Harry Kraemer, author of From Values to Action: The Four Principles of Value-Based Leadership. He argues that strong values are the key to real leadership. To influence others, you must relate to them, and to relate to them, you must first relate to yourself. Discover the four values that all great leaders have, how to develop true self-confidence, and find out what separates a good team from the best team.

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Website: HarryKraemer.org
Book: Values to Action: The Four Principles of Value-Based Leadership
Bio: Harry Kraemer, Jr. is professor of management and strategy at Northwestern University’s Kellogg School of Management, where he teaches in the MBA and the Executive MBA programs. Additionally, he is an executive partner with Madison Dearborn Partners (MDP), one of the largest private equity firms in the United States where he consults with CEOs and other senior executives of companies in MDP’s extensive portfolio. Harry is the former chairman and chief executive officer of Baxter International Inc., a multi-billion-dollar global healthcare company. He was voted by the students at Kellogg as the Professor of the Year in 2008 and was a finalist for the award in 2014.

Transcript

Peter: Welcome to the Bregman Leadership Podcast. I’m Peter Bregman, your host and CEO of Bregman Partners. This podcast is part of my mission to help you get massive traction on the things that matter most.

Harry Kraemer is on the show today. He’s a professor of management and strategy at NorthWestern Universities Kellogg School of Management. He’s an executive partner with a private equity firm, and he was also the chief executive and former chairmen of Baxter International, which is a multi-billion dollar global healthcare company. What is always interesting for me is when we have guests who both think about these things, and practice them. Harry is one of those. Harry, welcome to the Bregman Leadership Podcast.

Harry: Great to be with you Peter.

Peter: The book that we’re talking about, I have two books from you. The book that I want to start talking about is, “From Values, to Action. The four principles of value based leadership.” Everybody talks about values, and the importance of values. It’s a little motherhood and apple pie. You have actually written a book that drives the point home in practice, I thought in a very elegant way. You start with principles. Tell us what these four principles are, and also what is the difference between a principle and a value?

Harry: Great. Okay, and great to be with you Peter. The four principles for me are really self-reflection, balance, true self confidence, and genuine humility. The simple model that I think of, based on all my experiences at Baxter, and now at Madison Dearborn, a private equity firm Peter, is that if you really take the time to think about it, leadership has nothing to do with titles and work charts. It has everything to do with the ability to influence people. The only way I know how to influence people, is you have to be able to relate to people. I back the truck up one step further, which is hard for me to relate to you Peter, if I can’t relate to myself. In my mind it really all starts with self-reflection.

The way I sort of describe it is we’re very busy. We’re very, very busy. People have got millions of things to do, and conscientious people sometimes think, “Well I’ll just go faster and faster. If I can go fast enough, maybe I can get everything done.” I always ask folks to think about Peter, “Have we confused activity and productivity?” We’re unbelievably active, amazingly active. How productive are we? Are we moving so fast we don’t even know? I get to the first principle of self-reflection. Turning off the noise, turning off the gadgets, getting off by yourself, and asking some pretty basic questions. What are my values? What do I stand for? What’s my purpose? What kind of a leader do I want to be? What kind of example do I want to set?

It’s not possible for me Peter, to be thinking about those things while I’m doing 10 other things at the same time. Being self reflective and self aware, I sort of view as the first principle and the first step.

Peter: Let’s unpack that just a little bit. I think it’s very important, and I also see people sometimes having a hard time with it. Not just finding the time for it, because that’s a problem in and of itself. Sometimes self reflection can lead to spinning.

Harry:Yes.

Peter: People can go around in circles, they can think too much without actually moving forward. Do you have any thoughts about how to create some structure, or context, or decision making process, or something that can help people think in a way that leads to productive post thinking action?

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