Indispensable: When Leaders Really Matter

Gautam  Mukunda

Book | 2012

Indispensable: When Leaders Really Matter

by Gautam Mukunda

Abstract

Will your next leader be insignificant—or indispensable? The importance of leadership and the impact of individual leaders has long been the subject of debate. Are they made by history, or do they make it? In Indispensable, Harvard Business School professor Gautam Mukunda offers an enticingly fresh look at how and when individual leaders really can make a difference. By identifying and analyzing the hidden patterns of their careers, and by exploring the systems that place these leaders in positions of power, Indispensable sheds new light on how we may be able to identify the best leaders and what lessons we can learn, from both the process and the result. Profiling a mix of historic and modern figures—from Thomas Jefferson and Abraham Lincoln to Winston Churchill and Judah Folkman—and telling the stories of how they came to power and how they made the most important decisions of their lives, Indispensable reveals how, when, and where a single individual in the right place at the right time can save or destroy the organization they lead, and even change the course of history. Indispensable will also help you understand this new model so you can use it in your own life—whether you're a citizen casting a ballot, an executive choosing your next CEO, or a leader trying to make your mark.

Keywords: Leadership; Decision Making; Outcome or Result; Power and Influence;

Format: Print

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Citation:

Mukunda, Gautam. Indispensable: When Leaders Really Matter. Harvard Business Review Press, 2012.

In September 2008, Robert Steel presided over the sale of Wachovia, a top U.S. bank, less than three months after becoming its CEO. Wachovia’s exposure to risky home loans led depositors and creditors to flee the bank on Friday, September 26, after the FDIC seized and sold a smaller bank with similar exposure, whose collapse nonetheless made it the biggest bank failure in U.S. history. Faced with Wachovia’s impending bankruptcy, the FDIC intervened again, voting on Monday, September 29, to sell Wachovia’s retail bank to Citigroup for $1 a share. Three days later, Wells Fargo offered $7 a share for all of Wachovia. Steel needed to decide whether to honor the terms of the deal and exclusivity agreement already sketched out with Citigroup or to approve a definitive merger agreement with Wells Fargo.

In September 2008, Robert Steel presided over the sale of Wachovia, a top U.S. bank, less than three months after becoming its CEO. Wachovia’s exposure to risky home loans led depositors and creditors to flee the bank on Friday, September 26, after the FDIC seized and sold a smaller bank with similar exposure, whose collapse nonetheless made it the biggest bank failure in U.S. history. Faced with Wachovia’s impending bankruptcy, the FDIC intervened again, voting on Monday, September 29 to sell Wachovia’s retail bank to Citigroup for $1 a share. Three days later, Wells Fargo offered $7 a share for all of Wachovia. Steel needed to decide whether to honor the terms of the deal and exclusivity agreement already sketched out with Citigroup or to approve a definitive merger agreement with Wells Fargo. Supplements the (A) case.

After the contentious firing of an office manager, the leadership at Fresh to Table, a software-as-a-service provider for luxury hotels and restaurants, make an unpleasant discovery. While reviewing the office manager's internal electronic communications, company leaders discover that several key employees, including two that were recently promoted, had been spending substantial time on internal social media channels disparaging other employees, citing days when they skipped work, and referring to other instances of unprofessional behavior. This 5-page case explores issues related to electronic communications; termination and disciplinary procedures; and leadership, culture, and values. It can be used in General Management, Organizational Behavior, Human Resource Management, Management Communication, Leadership, and Employee Relations courses. The case also allows students to consider how technology affects organizational interactions and culture.

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Indispensable: When Leaders Really Matter

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