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Abstract

Hubert Joly, former CEO of Best Buy and orchestrator of the retailer's spectacular turnaround, unveils his personal playbook for achieving extraordinary outcomes by putting people and purpose at the heart of business. In 'The Heart of Business', Joly shares the philosophy behind the resurgence of Best Buy: pursue a noble purpose, put people at the center of the business, create an environment where every employee can blossom, and treat profit as an outcome, not the goal. This approach is easy to understand, but putting it into practice is not so easy. It requires radically rethinking how we view work, how we define companies, how we motivate, and how we lead. Part three, chapters 8-13, discusses the human dimension that powers and unleashes what Joly refers to as human magic. It requires creating an environment that can energize each individual working at the company and results in extraordinary performance he calls irrational performance. Chapter 12 discusses how creating an environment where mastery develops requires focusing on effort over results, developing individuals rather than the masses, coaching rather than training, reassessing performance assessment and development, treating learning as a lifelong journey, and making space for failure. Visit TheHeartofBusiness.org to learn more. Proceeds from the sales of The Heart of Business will be donated to the Best Buy Teen Tech Centers. This chapter is excerpted from 'The Heart of Business: Leadership Principles for the Next Era of Capitalism’.
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Abstract

Hubert Joly, former CEO of Best Buy and orchestrator of the retailer's spectacular turnaround, unveils his personal playbook for achieving extraordinary outcomes by putting people and purpose at the heart of business. In 'The Heart of Business', Joly shares the philosophy behind the resurgence of Best Buy: pursue a noble purpose, put people at the center of the business, create an environment where every employee can blossom, and treat profit as an outcome, not the goal. This approach is easy to understand, but putting it into practice is not so easy. It requires radically rethinking how we view work, how we define companies, how we motivate, and how we lead. Part three, chapters 8-13, discusses the human dimension that powers and unleashes what Joly refers to as human magic. It requires creating an environment that can energize each individual working at the company and results in extraordinary performance he calls irrational performance. Chapter 12 discusses how creating an environment where mastery develops requires focusing on effort over results, developing individuals rather than the masses, coaching rather than training, reassessing performance assessment and development, treating learning as a lifelong journey, and making space for failure. Visit TheHeartofBusiness.org to learn more. Proceeds from the sales of The Heart of Business will be donated to the Best Buy Teen Tech Centers. This chapter is excerpted from 'The Heart of Business: Leadership Principles for the Next Era of Capitalism’.

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