Hartford Business Journal

www.HartfordBusiness.com • June 10, 2019 • Hartford Business Journal 21 COMMUNITY CONNECTIONS Leadership lessons from the silver screen By Peter A. DeLisle T he dilemma of defining leadership is present and problematic. Our current companies, cultures and communities are yearning for a clear demonstration of effective lead- ership and ways to make serious and legitimate assessments of those who lead. Leadership Greater Hartford's annual Lessons in Leadership series draws a full house of people willing to dig deeply into a current book that teaches us how to do it better. Modern pundits whose books fill the shelves in airport book- stores seek to give voice to these dynamics, but many are overly sim- plistic, cliché or reliant on popular trends or memes. A legitimate, but demanding and challenging way to learn about lead- ership is to look to the classics for the enduring wisdom of literature. Plato's "Republic" describes concepts like reciprocity and existential risk; Shakespeare's "Henry V" gives voice to emergent leadership and courage. Hugo's Jean Valjean in "Les Miserables" is the archetype of the "rightness" of the leader, and Dickens contrasts London and Paris in "Tale of Two Cit- ies" and thus exposes us to the best of times and the worst of times. Can we make these powerful images clear, tangible and accessible to people who are not in- clined to study these and other classic refer- ences? How can we have a con- versation about leadership that is drawn from shared experi- ence? I propose that we go to the movies. Will Smith and Tommy Lee Jones present the same story as Plato's "Republic" in "Men in Black," "Henry V" and "Tommy Boy" both tell the classic tale of a young man learning about friendship and self-worth. These are but two examples, absurd perhaps, but therein lies the genius of the stories. What do we learn about leadership from Ruth Bader Ginsberg in "On the Basis of Sex," from political leaders in "Churchill: Their Darkest Hour," from the teams (in space and on earth) in "Apollo 13" and from a coach and his team in "Remember the Titans"? What are these stories about? What images might they bring to the con- versation about leaders, the challeng- es they face and the risks they take? Each story presents a serious prob- lem requiring action by the leader that must be founded on awareness of the key factors of self, others and situation. The contexts vary, but all are governed by limited resources, principally time and energy. Leader- ship, as a form of influence, is mani- fest with or without authority. These leaders face existential risk, with the likelihood that they might sacrifice all. Joseph Campbell suggested that there are a finite number of stories in human history. He sensed that all cultures tell their stories in the context, values and behaviors of their culture, but that the story is funda- mentally the same. His most influential work, "The Hero with a Thousand Faces," describes the hero's journey, which Campbell be- lieves is the same story told in all cul- tures over all time. The transformation of the leader he describes can be seen in "Star Wars," "Harry Potter," "The Matrix," "Spider Man," "The Lion King," and "The Lord of the Rings" trilogy. Movies provide opportunities to visualize and articulate the key ele- ments of leaders' behaviors, growth and development. These compelling stories, riveting dialogue and evocative pictures stimulate our imaginations. What better way is there to give life and purpose to the leader's journey and explore what the hero's journey means to us today than to experi- ence it on the wide screen in Dolby sound? So pick your favorite movie and make a batch of popcorn. Invite a friend to watch the movie with you and see if you can find the leader lessons. In addition to sharing your assess- ment of the acting, the cinematogra- phy, the special effects and the impact of the story, talk about what you can learn about leadership. There will likely be a lesson there. Then pass it on. Peter A. DeLisle is a student and teacher of leadership and a frequent presenter in Leadership Greater Hartford's programs. EXPERTS CORNER How to speed up management decisions, knowledge By Roy Filkoff D uring the American Revolution it could take 30 days to get a message from Congress to Ben Franklin in Europe to bring him up to date on the war effort. This is the same amount of time many companies need to provide finan- cial information to their management team each month. In today's world where we can send a message around the globe in the blink of an eye, why are some managers mak- ing decisions on information pro- vided at the speed of the American Revolution? Leaders should insist on real-time information along with current financial statements within one week of a month's end. This may be accomplished using three steps. Key indicator report Develop a daily report for your busi- ness that provides management with "flash" information. Flash information is understood to be subject to change, but still may be relied upon for quick knowl- edge of the status of the business. Items that would typically be in- cluded in a daily flash would include: • Orders • Sales/shipments • Backlog • Accounts receivable and accounts payable totals and totals over 90 days • Cash on hand and available under lines of credit Many businesses include other information that may be important and meaningful to them. This could include head count and open positions for fast-growing companies, or over- time and production metrics. Tailor it to your business so that you have your finger on the pulse. Weekly operating reports You can't expect what you don't in- spect. Rather than waiting to the end of the next month to see if you made your numbers, develop reports that track in real time activities you believe will al- low your people to achieve their goals. Operating reports are different than financial reports. They include informa- tion that is typically measured in units, products, opportunities, calls, etc. Man- agers find that the preparation of these reports helps them to understand what is going on in their department and focus on the critical path. If you are trying to ship 10,000 units this month, it's helpful to know if you have shipped 5,000 by the end of week two. Similarly, if you are trying to in- crease sales and you know that knock- ing on new doors is the key to your team's success, then keep track of how many doors each person is knocking on every day. Understand what it takes to make a sale or shipment in your business and track that activity. Typical operating reports come from the sales and production departments. Other departments like engineering and even accounting may have operat- ing reports to allow management to keep on top of critical processes. Speedy monthly financial reporting Financial statements should be complete no later than five days after a month's end. Many companies are getting this important task done in two- to-three business days. The key element to decreasing financial preparation time is to maintain on a daily basis time-con- suming tasks like cash reconciliations and credit-card allocations. Reconciling cash is simple if done every day and takes about five to 10 minutes. Waiting until the bank state- ment arrives after a month's end and doing the complete monthly reconcilia- tion can create a burdensome task that takes all day. Plus, if you do it daily, you know your cash position every day. The same goes for accounting tasks like allocating the credit card bill. Companies are using credit cards on a regular basis to ease purchasing and payments to vendors. However, waiting to get the monthly statement to track down receipts is a big time drain. Do it daily by getting online ac- cess to the statement. Ben Franklin, as postmaster gen- eral, was credited with significantly improving the flow of critical informa- tion across the Atlantic. Let's see if you can improve upon his accomplishment in your own business. Roy Filkoff is a CPA and partner with Altman and Company LLC, a turnaround, restructuring and crisis- management services business. Roy Filkoff Movies provide opportunities to visualize and articulate the key elements of leaders' behaviors, growth and development. Peter A. DeLisle

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