Mark Carney on Leadership

In 2018 Mark Carney, Governor of the Bank of England gave a speech to Regents University London (available on BofE website)

He spoke of Leadership Activities (what leaders DO) and Leadership Attributes (what leaders need to BE)

Leadership Activities (DO)

Finding and Developing the Right People. 

In recruiting staff he argues for the importance of diversity and of people with different perspectives. He encourages developing people to have an insight of the whole organisation and not just in their specific area of expertise. He doesn’t limit “the Right People” to staff but also talks of a the importance of trusted external advisers who can provide a perspective.

Setting Priorities

In determining what the organisational priorities should be at any one moment in time it is important to assess the CONTEXT. Consulting with stakeholders and others will assist in understanding the context. Then set a clear agenda and act fast.

Catalysing Action

Lead by example - walk the talk. Listen to and empower colleagues and then keep out of the way.

Leadership Attributes (BE)

Ambition.

Not personal but for the organisation.

Purpose.

Ensure that organisational purpose is present and anchors the goals , values and strategy.

Clarity

Leaders have Clarity of thought on complex issues and can communicate clearly. In communicating they balance realism and optimism in a way which inspires.

Humility

Personal humility based on self knowledge and the willingness and ability to learn. Humble about success and able to admit mistakes and seek feedback and share lessons learnt. This leads to being an AUTHENTIC leader where people know who you are and the beliefs that drive you. In turn this builds TRUST.

“Tweetable” quotes from the paper

# You can issue all the memos you want and give all the motivation speeches … but if the rest of the people in your organisation don’t see you putting forth your best effort every day, they wont either - General Colin Powell

# The best executive is the one who has sense enough to pick good people to do what [the leader] wants done, and self restraint enough to keep from meddling with them whilst they do it - Teddy Roosevelt 

# Evidence shows that purposeful companies have higher employee engagement, greater customer satisfaction, tighter supplier linkages and better environmental stewardship. - Big Innovation Centre 2016

# Say it straight, say it simple say it over. 

# What we have before us are some breath taking opportunities disguised as insoluble problems - John Gardner (engineer)

# The highest performing organisations are those with the highest number of people who are empowered to think as leaders themselves. - D Barton

# Leadership is a discipline that involves deliberate practice and continuous learning. - Kouzes and Posner 

# Do not confuse your leadership role with yourself or become addicted to the status and privileges of power. Rather recognise that all leadership is temporary, that you will be custodians of your institutions and keepers of their flames.