Chairman and CEO of General Motors Speaks at Harvard Business School
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| Rick Wagoner MBA 1977 General Motors Chairman and CEO Photo provided by GM Corp. |
BOSTON -Rick Wagoner (MBA 1977), chairman and chief executive officer of General Motors, recently participated in a Q&A session at Harvard Business School before an overflow audience of more than 300 students, faculty, and staff. He addressed a range of issues, including strategic decision making, brand management, pricing and incentive programs, and corporate social responsibility. His return to campus was part of a distinguished speaker series sponsored by Harvard Business School’s Leadership and Values Initiative (LVI). Led by students in partnership with faculty and staff, LVI organizes discussions on topics involving ethical issues and moral dilemmas.
Throughout the event, Wagoner emphasized the importance of making strategic decisions based on the long-term goals of a company. “Anyone in a position like mine has to think about the impact of decisions on all constituents – and we certainly have many in our industry, including dealers, suppliers, unions, and, of course, employees around the world,” he said.
In order to ensure that success, Wagoner also touched upon the importance of aligning every aspect of a business – from the overall company vision to product distribution channels to individual employees. “So much of business success is not just strategy and big ideas, but execution. Particularly in companies like GM, you need everyone who is doing the work to be on board and aligned with our strategy, values, and vision.”
After graduating from Harvard Business School, Wagoner joined GM as an analyst in the treasurer’s office before talking on various positions in finance, purchasing, and operations in Brazil, Canada, Europe, and the United States. He was named chairman and CEO on May 1, 2003.
“A career is about a lifetime, and you’re not racing to get to the highest level at the end; you want to enjoy what you’re doing while you’re doing it, not just on the last day,” he said. “I urge people to take jobs that they like to do – learn, be enthusiastic, be proactive, help people out. Most important, be willing to make the tough calls if you think it’s right for the business. If you do that, you’ll do very well in your chosen career.”
Wagoner also spoke of the importance of work-life balance. “There are 168 hours in a week, and that is not going to change. So do the math backwards and ask yourself: how long do you need to sleep, what are your work requirements, how do you want to spend the rest [of your time] – with your family, work on your golf game, outside boards. There’s no magic to it, so this issue of prioritizing and planning is really important,” he said.