Disney’s Bob Iger and JPMorgan Chase’s Jamie Dimon on Leadership

Summary

In a global business forum, Bob Iger (former CEO of Disney) and Jamie Dimon (CEO of JPMorgan Chase) discuss the keys to their success, emphasizing hard work, mentorship, and luck. They explore the evolving role of leadership in a fast-paced, technology-driven world, the challenges of navigating political and economic complexities, and the importance of respect over popularity in leadership. Both highlight their contributions to global markets, including Disney's expansion into China and JPMorgan's role in Detroit's revival. Their conversation offers valuable insights on leadership, risk-taking, and managing change in business and politics.

Takeaways

• 😀 Hard work, great mentorship, and luck were key factors in the success of both Bob Iger and Jamie Dimon.
• 😀 Being a leader in 2019 requires patience, risk-taking, and the ability to make decisions without having all the answers.
• 😀 Despite the challenges, both leaders believe that discipline, trust, and facts remain crucial in leadership.
• 😀 Technology is rapidly changing the world, which requires more agile management and smaller teams to adapt.
• 😀 Politicians can offer advice on regulations, but CEOs generally don’t seek business advice from them due to the differing skill sets.
• 😀 A good politician should focus on policies that are achievable and productive, avoiding over-simplified ideas.
• 😀 CEOs don’t need to be popular, but they must be respected and make tough decisions, rather than focusing on pleasing everyone.
• 😀 Bob Iger’s memoir highlights his persistence, hard work, mentorship, and the transformation of Disney under his leadership.
• 😀 Both Iger and Dimon believe in the importance of global relations, particularly with China, despite trade war tensions.
• 😀 Global companies need to respect local cultures when expanding into international markets, even as technology makes the world more interconnected.
• 😀 Leadership should focus on leaving a company in better shape than when it was found, with a strong emphasis on productivity, respect, and long-term sustainability.

Q & A

What is the main factor that contributed to Bob Iger's success in his career?

Bob Iger attributes his success to hard work, love for what he does, having great mentors, and a bit of luck.

How has the role of a leader changed in the past decade?

The role of a leader today requires patience, risk-taking, and the ability to make decisions without having all the answers. This is due to the fast pace of technological advancements and the increased level of disruption in various industries.

What key qualities are important for a leader in today's world?

Key qualities for a leader today include discipline, trust, strong relationships, and an ability to adapt to fast-paced changes. Leaders must also be able to navigate complex global political and economic challenges.

How do Bob Iger and Jamie Dimon view politicians' involvement in business?

Bob Iger sees value in seeking advice from politicians regarding regulation and government relations, but not for business advice. Jamie Dimon agrees but emphasizes that politicians often lack business experience, making it difficult to rely on them for business decisions.

What is Jamie Dimon's perspective on the effectiveness of policies?

Jamie Dimon believes that policies are often well-intentioned but can have unintended negative consequences. He advocates for more realistic, achievable policies that can be implemented within the current political environment.

Why does Bob Iger not consider running for public office?

Bob Iger enjoys his role as CEO and believes that he can make a significant impact through his position in business. He does not feel the need to pursue a political career, even though he has been asked multiple times.

What does Bob Iger hope to be remembered for at Disney?

Bob Iger hopes to be remembered for maintaining Disney's relevance and positive global influence, ensuring its success for future generations, and transforming the company through acquisitions and innovation.

What advice does Jamie Dimon offer to leaders in business?

Jamie Dimon advises business leaders to focus on making tough decisions, being productive, and leaving the organization better than they found it. He believes a CEO should strive for a healthy and vibrant company that can withstand challenges.

How do Bob Iger and Jamie Dimon view competition from tech companies like Amazon and Google?

Both Bob Iger and Jamie Dimon recognize the increasing competition from tech companies like Amazon and Google. They remain focused on making their organizations healthier and more competitive to face these challenges.

What is the significance of 'Advancing Cities' program, and why was it launched?

The 'Advancing Cities' program was launched to help revitalize communities, such as Detroit, by providing support in areas like infrastructure, affordable housing, and community collaboration. It was designed to make a positive impact on cities facing economic challenges.