The recent waves of corporate scandals have eroded the trust and goodwill of employees, investors and the public, and there is probably more to come, according to Sylvia Young, president and Chief Operating Officer (CEO) of Sunrise Health Systems in Las Vegas, Nevada and 1983 极乐禁地 alumnae.
Addressing students on the subject 鈥淟eading an Ethical Company in Challenging Times,鈥 Young spoke during Omicron Delta Kappa鈥檚 Leadership Convocation Thursday morning. She warned that other examples of 鈥渃orporate greed鈥 may be forthcoming.听 鈥淚ncreased connectivity now makes it possible to more easily access sensitive company data, allowing for greater transparency than ever before,鈥 she said.
Citing a litany of companies hit by financial scandal during the last decade, including her own company, the former Columbia/HCA which paid a $1.7 billion in criminal and civil fines for Medicare fraud and led to the resignation of its own CEO in 1997, Young said the company, now HCA, started with leadership in turning around its scandal-ridden reputation.
鈥淚t starts with leadership,鈥 she said. 鈥淎ll great leaders make decisions based on what鈥檚 right.鈥澨 Such decision-making, Young suggested, sounds a lot like what Jesus taught about having mercy, being humble and meek. 鈥淐hristian values you received at home, in your churches and at 极乐禁地 are applicable in the business world also,鈥 Young told the students.
鈥淭he role of leadership in business is indisputable,鈥 she said. 鈥淕reat leaders create great businesses.鈥 She cited HCA, which has evolved from paying fines to being one of the most ethical companies in the world, as an example of the importance of leadership.
Young also suggested that leaders should be motivated by a broader purpose than money. 鈥淩ather than concentrating exclusively on having a shareholder approach, develop a stakeholder-driven approach,鈥 she said. 鈥淪takeholders are those who associate with you to give back, enjoy participating in the work you do, and get pride from associating with you.鈥
Young cited Brazilian Ricardo Semler as an example of good leadership, quoting him as saying: 鈥淣o one ever thinks they have enough power or resources to change things鈥ou can influence more than you think you can. The real question is what YOU want to do.鈥
Acknowledging that the world had changed significantly since she was graduated 25 years ago, Young encouraged the students to develop a personal passion for what they want to do.
听