Leadership lessons from a former Wal-Mart chief

Editor’s note: Michelle Stockman works with Little Rock-based Arkansas Capital Corp. to promote entrepreneurship development around the state. Stockman earned a bachelor’s degree from Loyola University-Chicago in communications and fine arts, and earned a master’s in entrepreneurship from Western Carolina University. Her thoughts on business success appear each week on The City Wire.

Leadership has become a hot topic much like the self-improvement trend that started in the ‘80s. Bookshelves continue to grow with experts, consultants and former CEO’s all sharing tidbits of what organizational leaders used to survive their tenure. Many of the books make valid points, and today’s business leaders can use pieces of each to sew together in creating a personal leadership style.

Recently, Lee Scott, the third CEO of Wal-Mart, spoke at a function in Northwest Arkansas to young, up-and-coming, leaders recognized within the region. Through his presentation, Scott shared his 10 points of leadership that were key to his success in growing up within the company that also led to his being named CEO.

The 10 points of leadership Mr. Scott shared from his own experience were:
• Hiring people better than yourself is an effective way to build a career.
• Ego is the biggest enemy of leadership.
• When people know what you want, they will often give it to you.
• The ability to give honest constructive feedback is essential.
• Very few people ever feel like they are on top of things.
• What you say and how you say it is not nearly as important as what is heard and how it is heard.
• Even if you feel very strongly about something, there is a possibility you could be wrong.
• Your harshest critics may be the most helpful voices you hear.
• Sharing praise is a compromise; give it all away.
• Integrity is the single most important characteristic.

Leadership is not necessarily rocket science, but it does take a conscious effort to think beyond your own self. Considering what is best for that which you are leading takes selflessness, clear communications and an eagerness to embrace all the resources around you (good and bad).

Leadership is difficult as issues and personalities need to be woven together to form a solid team; however good leaders make great teams that see tremendous success.

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Stockman can be reached at [email protected]