In this last session, we will talk about the leadership
when you start your businesses, you will be a great leader
No matter who you are and no matter what position you are in
and no matter how much you got
You will lead your company much great
why?
Because you are a founder
Let's begin with leadership
So our core concept of the leadership in this session is
how to become a great leader
In other words, how to lead your company, early company, much better
In this session, I want to suggest four different considerations
that you care about
The first one is charismatic leadership
You should be a charismatic leader
I suggest that
Second one, you'd better employ adaptive coordination
when you manage your team
Remember adaptive coordination
And third one, you'd better make your employees, make your members
Think about how important of their task
this is a third consideration
And the last one, you should make your members feel progress
Wow, my organization, my company goes forward
Let's begin with charismatic leadership
How to define charismatic leadership?
Charismatic leadership refers to certain specialized leadership style
where leaders use their own personal charm
or strong communication skills
Surprisingly, charismatic leadership can inspire high performance
Charismatic leadership
Think about who would be charismatic leaders
What about Steve Jobs?
Yes, Steve Jobs is one of the charismatic leaders
He speaks very well
He has high communication skills and he uses his personal charm
What about Elon Musk?
Yes, I think Elon Musk, he uses his personal charm
and he has a strong communication skill
So he can be considered as one of the charismatic leaders
There is a very interesting research
associated with the impact of the charismatic leadership
And this professor conducted an experiment
to check out the impact of the charismatic leadership
on the employees' performance
So basically, the professors divide the students
into three different situations
Each situation is the same
but the leadership styles are a little bit different
So the students will be exposed to different leadership styles
The first leadership style is
before that, I want to explain the situation first
This is a business situation
where the CEO tries to meet the demand of the Christmas card
because this company produces Christmas cards
and then Christmas is coming
but they fail to meet the demand
So the CEO explains this situation to the employees
and asks to work overtime in order to meet the demand
This is the situation
So the first group of students is exposed to the first CEO style
the first leadership style
This CEO, for the first time
the first CEO explained this situation very well
with just standard speech
but he didn't mention about the money
He didn't mention about any extra money
So just ask the employee to work overtime
Second case, second situation is
the CEO explains the situation to the employee
and then with the standard speech
Then he explains about the money
if the employee works overtime
then he will give additional money
based on the workload
based on the work
And the last situation
the CEO explains the situation
but he didn't mention about the money
but his speech is a little bit different
His speech is not standard speech
His speech is kind of charismatic speech
He explained very well
and he explained the motivation
He explained why we care for the Christmas card
because Christmas card is very important for the children
if we do not meet the demand of Christmas card
then what happens?
Most of the children will be disappointed
and you ruin the Christmas for the children
So you are a criminal
So this is kind of charismatic leadership style
Then the professors assess the performance of the student
Guess which group of experiment
increased the performance more?
Which group or performance better?
Think about the first group
second CEO, third one
First one?
Second one?
Third one?
Probably no one selected the first one
and then some students choose the second one
other students choose the third one
If you choose the second one,
then kind of you are realistic
If you choose the third one
you are kind of, how can I say
you love charismatic leaders
Let's look at the result together
Yes of course
The second group performed better
Second group generated performance much better
than, think about
First group, there is no performance increase
but the second group
their performance increased by around 22%, 23%
But the interesting thing is, what about third group?
Third group, there is kind of 18% or 19% performance increase
You see?
But what is the difference between second group and third group?
Second group in order to increase the productivity 20%
second group CEO pay a lot
On the other hand, the third group CEO
he just speak
He just speak
He didn't pay anything
But he increased almost 20% of the productivity
Oh my God
this is the power of charismatic leadership
without any money
you increase 20% of the productivity
Think about if you are a startup founder
Then you don't have any money
You lack of the money
You should save the money
but you want to increase the productivity
You want to increase the performance
Best way to increase the performance without any money
is to be a charismatic leader
If you speak like charismatic leaders
then you can increase 20% of the performance without any money
Please keep that in your mind that is very important
So why we care for the charismatic leadership?
Because charismatic leadership
can increase the performance without any money
without any incentive
This is the power of charismatic leadership
Let's move on another one
This is adaptive coordination
What is adaptive coordination?
That is kind of a new term
Adaptive coordination is kind of a new coordination style
that start minimally
But increase alignment adaptively
What do you mean by that?
So when you start your task
then some of the companies
some of the teams make a rigorous plan
very detailed plan at first
Then they try to keep their plan
This is kind of one of the style
And another style is
you don't know what happens later,
so you do not make a specific plan
And you just deal with the daily task
then see what happens later
This is kind of another style
And the adaptive coordination style means
you started minimal
you started the task minimal
because you don't know what happens later
So you do not make any specific plan at first
But at some point
you make a specific plan later on
This is kind of adaptive coordination style
So adaptive coordination style
is known as the best coordination style
for extreme time constraint situation
Think about if you start your businesses
then you face this situation a lot
Extremely busy
you face extreme time constraint situation
For example, your consumers ask you
to provide relevant service right now, immediately
So you should stay up all night to meet the consumer's demand
So in this case, which one is good?
Adaptive coordination style works best
Remember that
I want to give you relevant research about this
Look at this research
This is a newly published research
And the scholars analyzed 13 projects
in 72 hours hackathon project
You know the hackathon?
Hackathon is kind of time-pressed project
And we met together and we developed some new program
or new technology, new software
within just two days, within just one day
There are extreme time pressure
Then in this situation
you need to come up with a new solution
This is the purpose of the hackathon project
Anyway, the scholars analyzed hackathon project
Then they identified there are three different coordination styles
that I already mentioned that
The first one, full coordination
Full coordination means at first
before they started their task
they make a rigorous plan
They divided the work
They divided the role
You took the analysis role
You took PowerPoint
You took technology
You took story
You took marketing
and your responsibility is investment
You just divide the labor and you make a detailed plan
One hour later or two hours later
then we will meet together and we discuss again
and we talk about what happened next
Three hours later, four hours later, something
Very detailed
Second coordination is minimal coordination
Minimal coordination means
We are in the 72-hour hackathon project and we don't know what happened
Let's do whatever you want
And what do you like?
Do you like investigating some technology?
Do yourself
And what do you like?
Do you like to research about the trend
the social trend?
Yes, do it
So there's no coordination at all
just minimal coordination
And then the third one is adaptive coordination
Adaptive coordination means, I already mentioned that
you start with minimal coordination
We don't know
So you do whatever you want
Then we are in the 72-hour hackathon
So what about just 10 hours later?
10 hours later, we meet together, then we discuss
Then something happens
at that time, we will make some kind of plan
Do you understand that?
What is the result?
Yes, the result was surprising
Adaptive coordination works best
What is adaptive coordination?
Yes, you can start this task project
with minimal coordination first
and at some point, you make a plan
You begin with minimal structure
Then later, you make a plan later at some point
Then what about the other two?
Full coordination and minimal coordination
Among these two coordinations
full coordination, which means the rigorous plan at first
works worst
You know what I mean?
Think about it
When you start your businesses
you can use this research result
When you start your businesses
probably you face extreme busy schedule
and also you don't know what to do,
So you'd better start with minimal coordination first
Then later, at some point, you make a detailed plan later on
If you start with a very rigorous plan
it works worst
Remember this result, which is very interesting
So I suggest you guys to employ adaptive coordination style
That's a leadership style
Third consideration for the founders
is task significance
What is the task significance?
Task significance refers to the degree to which
a job or task has a substantial impact on other people
What do you mean by that?
Think about it
Some jobs have a huge impact on other people
Other jobs don't have this
The important thing is this job significance
can be perceived by the employees subjectively
You know what I mean?
Some employees perceive their job as a huge impact job
Other people perceive their job as a less impact job
but more important thing is
If the employee perceives their job as significant
then what happens?
They feel meaningful
They find more meaning or purpose in their job
Why is this important?
If they find the meaning in their job, then they work hard
You know what I mean?
They work harder and harder
without any money involved
without any command
They work very hard
I want to introduce interesting research
regarding task significance
Look at him
He is a professor at Wharton School
and he conducted very interesting research
His research is an experiment
And he targeted the core center members of the universities
Think about major universities like Harvard or Wharton
They had core center members to generate donations
from the alumni
So their major job is to call the alumni
and ask them to donate money to the university
So think about it
If you graduate from Hanyang University
and your university
Then three years later
you receive the phone call from the university
and a core center member told you
to donate a certain amount of money to the university
for a scholarship for the student
Then what are you going to do?
Are you willing to pay money
or you are not willing to pay money?
It's up to you
But some alumni, some people
just hang up without anything
Or some alumni
just talk to bad name to the core center members
And then the core center members feel terrible
If they met those kind of situation
so this is the whole situation about core center members
We say they are labor, the emotional labor worker
and then his experience is like this
He just arranged kind of a brief meeting for them
with the beneficiary of the donation
which beneficiary means in this case
kind of a student who received the scholarship
from the alumni donation
Then the scholars let them talk
kind of for 10 to 15 minutes
Let them talk, just to talk
what about your scholarships?
what about your fundraising activities?
So simply allow
simply he allow core center members
to meet the student who received the scholarship
from the donation
This meeting
this meeting itself increased
core center members' performances significantly
without anything
We didn't give the money
we didn't promote them
so anything, without anything
just meeting with the beneficiary
meeting with the student who received the scholarship
just increased the performance significantly
How much?
142% increase in the working hour
and 171% increase in the fundraising amount
without anything
How is this possible?
How is this happening?
Because after meeting with the student
who received the scholarship from the fundraising
the core center members
actually perceived their job
as very significant for somebody else
They understood how important their job is
So that's why they work harder
and they increase the fundraising money
Look at this
If you are a startup founder
then your first task would be
make your employee perceive their job important
You know what I mean?
Let's move on
The last consideration that I want to suggest to you
is perceived progress
Perceived progress means
it's kind of a first sense of moving forward toward your goal
It doesn't have to be a big jump
If you move forward a little bit
a little bit, continuously
If you feel you are moving forward to the goal continuously
then the members inside your company feel safe
So it is a very powerful motivator
in shaping emotion and behavior
If your members feel like this
then they will work harder
This is the whole story
I want to introduce the research regarding this theory
Look researchers conducted 117 early-stage entrepreneurs
working at the entrepreneurship incubator in the Philippines
Asian country
And then basically
they received survey opinions, surveys four times a day
Wow, it's so heavy
Over six weeks
six-week period
they sent out the survey questions
four times a day, four times
Morning after lunch and before the evening, and late night
They received the opinion
from the 117 entrepreneurs
Over six weeks
So with this heavy effort of the research
the scholars try to analyze the relationship
between the feeling of the perceived progress and the performance
What is the result?
The result was
if the entrepreneur
feel that they are moving forward
then they put tons of effort in it
Other than that
probably they gave up
You know what I mean?
Or they didn't put too much energy on it
So important thing is what?
Important thing is you make your members feel progress
Then they will work hard
So what do you think?
We should face ugly truth
If you start your businesses, you don't have money, you don't have people
you don't have energy
or you should deal with many different tasks at the same time
So how to handle those things effectively?
So that's why I suggest four considerations
What are they?
First one, you should be charismatic leader
Why?
Because charismatic leader increase the productivity without money
It's a good thing
Second one, you'd better employ adaptive coordination
Why?
Because adaptive coordination works best
Especially when you face extreme time pressure situation
And third one
you should make your members
perceive that their job is very significant
If they perceive their job is significant then they work very hard
And the last one
you should make your members feel progress
If they feel progress, then they will work hard
Please remember those four considerations
they will be very helpful for you
Thank you for listening