The Ride of a Lifetime
1 journaler for this copy...
8 stars: Very good
From the back cover: Robert Iger became CEO of the Walt Disney Company in 2005, during a difficult time. Competition was more intense than ever, and technology was changing faster than at any time in the company's history. Iger knew there was nothing to be gained from arguing over the past. The only thing that mattered was the future, and he believed he had a clear idea of the direction that Disney needed to go. His vision came down to three clear ideas: recommit to the concept that quality matters, embrace technology instead of fighting it and think bigger - think globally - and turn Disney into a stronger brand in international markets. Fourteen years later, Disney is the largest, most respected media company in the world, counting Pixar, Lucasfilm Marvel and 21st Century Fox among its properties. Its value is nearly five times what it was when Iger took over, and he is recognized as one of the most innovative and successful CEOs of our era.
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I read this book in 2020, during the COVID19 quarantines. At that time, Iger had officially stepped away as CEO, but they brought him back to help navigate Disney through this crisis, where they were uniquely crippled in all operations, losing $30 million a day. I can see why. I never read books of this type, but Iger is thoughtful and respectful, in addition to being a strong leader. He itemizes the qualities a good leader should have. I chose not to repeat them here, as they sound like what you hear in any other value statement. What is clear from this book is that Iger believes them and lives them. Within one month of his stepping up as CEO, he was buying Pixar from Steve Jobs - who had a difficult relationship with the previous CEO, Michael Eisner. In quick succession, he then bought Marvel, Lucasfilm, and 20th Century Fox. All this is itemized in the book. What I found most compelling was the introduction, when he speaks of the Orlando Pulse nightclub massacre, how the plan had been to strike the Disney Springs House of Blues, and what he describes as the worst day in his career, while simultaneously being told to be upbeat for the opening of Shanghai Disney. A very compelling, interesting read.
Some quotes I liked:
To this day, I wake up at 4:15, though now I do it for selfish reasons: to have time to think and read and exercise before the demands of the day take over. Those hours aren't for everyone, but however you find the time, its vital to create space in each day to let your thoughts wander beyond your immediate job responsibilities, to turn things over in your mind in a less pressured, more creative way than is possible once the daily triage kicks in. I've come to cherish that time alone each morning.
[After admitting a mistake]. ... the importance of taking responsibility when you screw up. In your work, in your life, you'll be more respected and trusted by the people around you if you honestly own up to your mistakes. It's impossible not to make them; but it is possible to acknowledge them, learn from them, and set an example that its okay to get things wrong sometimes. What's not okay is to undermine others by lying about something or covering your own ass first.
Excellence and fairness don't have to be mutually exclusive.
[After "Cop Rock" at ABC where he worked was universally panned]. I got up and addressed the cast and crew. "We tried something big and it didn't work. I'd much rather take big risks and sometimes fail than not take risks at all."
At its essence, good leadership isn't about being indispensable; its about helping others be prepared to possibly step into your shoes. Giving them access to your own decision making, identifying the skills they need to develop and help them improve, and, as I've had to do, sometimes being honest about why they're not ready for the next step up.
A little respect goes a long way and the absence of it is often very costly. Over the next few years, as we made the major acquisitions that redefined and revitalized the company, this simple, seemingly trite idea was as important as all of the data crunching in the world: If you approach and engage people with respect and empathy, the seemingly impossible can become real.
You can't wear your disdain for people on your sleeve. You end up either cowing them into submission or frustrating them into complacency. Either way, you sap them of the pride they take in their work.
[REgarding the firing of Roseanne Barr, a decision he made]. "We don't have a choice here. We have to do what's right. Not what's politically correct and not what's commercially correct. Just what's right. If any of our employees tweeted what she tweeted, they'd be immediately terminated." ... It was an easy decision, really. I never asked what the financial repercussions would be, and didn't care. In moments like that, you have to look past whatever commercial losses are and be guided, again, by the simple rule that there's nothing more important than the quality and integrity of your people and your product. Everything depends on upholding that principle.
From the back cover: Robert Iger became CEO of the Walt Disney Company in 2005, during a difficult time. Competition was more intense than ever, and technology was changing faster than at any time in the company's history. Iger knew there was nothing to be gained from arguing over the past. The only thing that mattered was the future, and he believed he had a clear idea of the direction that Disney needed to go. His vision came down to three clear ideas: recommit to the concept that quality matters, embrace technology instead of fighting it and think bigger - think globally - and turn Disney into a stronger brand in international markets. Fourteen years later, Disney is the largest, most respected media company in the world, counting Pixar, Lucasfilm Marvel and 21st Century Fox among its properties. Its value is nearly five times what it was when Iger took over, and he is recognized as one of the most innovative and successful CEOs of our era.
------------
I read this book in 2020, during the COVID19 quarantines. At that time, Iger had officially stepped away as CEO, but they brought him back to help navigate Disney through this crisis, where they were uniquely crippled in all operations, losing $30 million a day. I can see why. I never read books of this type, but Iger is thoughtful and respectful, in addition to being a strong leader. He itemizes the qualities a good leader should have. I chose not to repeat them here, as they sound like what you hear in any other value statement. What is clear from this book is that Iger believes them and lives them. Within one month of his stepping up as CEO, he was buying Pixar from Steve Jobs - who had a difficult relationship with the previous CEO, Michael Eisner. In quick succession, he then bought Marvel, Lucasfilm, and 20th Century Fox. All this is itemized in the book. What I found most compelling was the introduction, when he speaks of the Orlando Pulse nightclub massacre, how the plan had been to strike the Disney Springs House of Blues, and what he describes as the worst day in his career, while simultaneously being told to be upbeat for the opening of Shanghai Disney. A very compelling, interesting read.
Some quotes I liked:
To this day, I wake up at 4:15, though now I do it for selfish reasons: to have time to think and read and exercise before the demands of the day take over. Those hours aren't for everyone, but however you find the time, its vital to create space in each day to let your thoughts wander beyond your immediate job responsibilities, to turn things over in your mind in a less pressured, more creative way than is possible once the daily triage kicks in. I've come to cherish that time alone each morning.
[After admitting a mistake]. ... the importance of taking responsibility when you screw up. In your work, in your life, you'll be more respected and trusted by the people around you if you honestly own up to your mistakes. It's impossible not to make them; but it is possible to acknowledge them, learn from them, and set an example that its okay to get things wrong sometimes. What's not okay is to undermine others by lying about something or covering your own ass first.
Excellence and fairness don't have to be mutually exclusive.
[After "Cop Rock" at ABC where he worked was universally panned]. I got up and addressed the cast and crew. "We tried something big and it didn't work. I'd much rather take big risks and sometimes fail than not take risks at all."
At its essence, good leadership isn't about being indispensable; its about helping others be prepared to possibly step into your shoes. Giving them access to your own decision making, identifying the skills they need to develop and help them improve, and, as I've had to do, sometimes being honest about why they're not ready for the next step up.
A little respect goes a long way and the absence of it is often very costly. Over the next few years, as we made the major acquisitions that redefined and revitalized the company, this simple, seemingly trite idea was as important as all of the data crunching in the world: If you approach and engage people with respect and empathy, the seemingly impossible can become real.
You can't wear your disdain for people on your sleeve. You end up either cowing them into submission or frustrating them into complacency. Either way, you sap them of the pride they take in their work.
[REgarding the firing of Roseanne Barr, a decision he made]. "We don't have a choice here. We have to do what's right. Not what's politically correct and not what's commercially correct. Just what's right. If any of our employees tweeted what she tweeted, they'd be immediately terminated." ... It was an easy decision, really. I never asked what the financial repercussions would be, and didn't care. In moments like that, you have to look past whatever commercial losses are and be guided, again, by the simple rule that there's nothing more important than the quality and integrity of your people and your product. Everything depends on upholding that principle.
