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In this last session, we will talk about the leadership

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when you start your businesses, 
you will be a great leader

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No matter who you are and no matter 
what position you are in

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and no matter how much you got

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You will lead your company much great

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why?

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Because you are a founder

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Let's begin with leadership

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So our core concept of the leadership in this session is

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how to become a great leader

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In other words, how to lead your company, 
early company, much better

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In this session, I want to suggest four different considerations

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that you care about

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The first one is charismatic leadership

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You should be a charismatic leader

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I suggest that

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Second one, you'd better employ adaptive coordination

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when you manage your team

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Remember adaptive coordination

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And third one, you'd better make your employees, 
make your members

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Think about how important of their task

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this is a third consideration

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And the last one, you should make 
your members feel progress

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Wow, my organization, my company goes forward

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Let's begin with charismatic leadership

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How to define charismatic leadership?

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Charismatic leadership refers to certain 
specialized leadership style

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where leaders use their own personal charm

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or strong communication skills

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Surprisingly, charismatic leadership 
can inspire high performance

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Charismatic leadership

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Think about who would be charismatic leaders

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What about Steve Jobs?

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Yes, Steve Jobs is one of the charismatic leaders

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He speaks very well

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He has high communication skills 
and he uses his personal charm

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What about Elon Musk?

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Yes, I think Elon Musk, he uses his personal charm

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and he has a strong communication skill

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So he can be considered as one of the charismatic leaders

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There is a very interesting research

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associated with the impact of the charismatic leadership

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And this professor conducted an experiment

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to check out the impact of the charismatic leadership

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on the employees' performance

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So basically, the professors divide the students

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into three different situations

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Each situation is the same

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but the leadership styles are a little bit different

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So the students will be exposed to different leadership styles

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The first leadership style is

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before that, I want to explain the situation first

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This is a business situation

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where the CEO tries to meet the demand of the Christmas card

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because this company produces Christmas cards

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and then Christmas is coming

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but they fail to meet the demand

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So the CEO explains this situation to the employees

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and asks to work overtime in order to meet the demand

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This is the situation

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So the first group of students is exposed to the first CEO style

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the first leadership style

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This CEO, for the first time

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the first CEO explained this situation very well

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with just standard speech

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but he didn't mention about the money

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He didn't mention about any extra money

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So just ask the employee to work overtime

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Second case, second situation is

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the CEO explains the situation to the employee

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and then with the standard speech

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Then he explains about the money

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if the employee works overtime

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then he will give additional money

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based on the workload

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based on the work

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And the last situation

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the CEO explains the situation

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but he didn't mention about the money

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but his speech is a little bit different

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His speech is not standard speech

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His speech is kind of charismatic speech

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He explained very well

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and he explained the motivation

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He explained why we care for the Christmas card

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because Christmas card is very important for the children

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if we do not meet the demand of Christmas card

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then what happens?

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Most of the children will be disappointed

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and you ruin the Christmas for the children

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So you are a criminal

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So this is kind of charismatic leadership style

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Then the professors assess the performance of the student

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Guess which group of experiment

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increased the performance more?

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Which group or performance better?

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Think about the first group

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second CEO, third one

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First one?

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Second one?

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Third one?

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Probably no one selected the first one

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and then some students choose the second one

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other students choose the third one

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If you choose the second one,

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then kind of you are realistic

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If you choose the third one

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you are kind of, how can I say

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you love charismatic leaders

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Let's look at the result together

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Yes of course

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The second group performed better

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Second group generated performance much better

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than, think about

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First group, there is no performance increase

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but the second group

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their performance increased by around 22%, 23%

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But the interesting thing is, what about third group?

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Third group, there is kind of 
18% or 19% performance increase

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You see?

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But what is the difference between 
second group and third group?

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Second group in order to increase the productivity 20%

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second group CEO pay a lot

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On the other hand, the third group CEO

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he just speak

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He just speak

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He didn't pay anything

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But he increased almost 20% of the productivity

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Oh my God

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this is the power of charismatic leadership

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without any money

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you increase 20% of the productivity

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Think about if you are a startup founder

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Then you don't have any money

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You lack of the money

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You should save the money

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but you want to increase the productivity

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You want to increase the performance

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Best way to increase the performance without any money

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is to be a charismatic leader

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If you speak like charismatic leaders

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then you can increase 20% of 
the performance without any money

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Please keep that in your mind that is very important

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So why we care for the charismatic leadership?

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Because charismatic leadership

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can increase the performance without any money

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without any incentive

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This is the power of charismatic leadership

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Let's move on another one

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This is adaptive coordination

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What is adaptive coordination?

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That is kind of a new term

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Adaptive coordination is kind of a new coordination style

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that start minimally

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But increase alignment adaptively

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What do you mean by that?

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So when you start your task

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then some of the companies

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some of the teams make a rigorous plan

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very detailed plan at first

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Then they try to keep their plan

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This is kind of one of the style

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And another style is

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you don't know what happens later,

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so you do not make a specific plan

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And you just deal with the daily task

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then see what happens later

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This is kind of another style

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And the adaptive coordination style means

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you started minimal

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you started the task minimal

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because you don't know what happens later

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So you do not make any specific plan at first

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But at some point

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you make a specific plan later on

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This is kind of adaptive coordination style

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So adaptive coordination style

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is known as the best coordination style

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for extreme time constraint situation

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Think about if you start your businesses

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then you face this situation a lot

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Extremely busy

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you face extreme time constraint situation

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For example, your consumers ask you

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to provide relevant service right now, immediately

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So you should stay up all night 
to meet the consumer's demand

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So in this case, which one is good?

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Adaptive coordination style works best

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Remember that

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I want to give you relevant research about this

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Look at this research

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This is a newly published research

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And the scholars analyzed 13 projects

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in 72 hours hackathon project

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You know the hackathon?

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Hackathon is kind of time-pressed project

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And we met together and we developed some new program

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or new technology, new software

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within just two days, within just one day

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There are extreme time pressure

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Then in this situation

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you need to come up with a new solution

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This is the purpose of the hackathon project

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Anyway, the scholars analyzed hackathon project

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Then they identified there are 
three different coordination styles

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that I already mentioned that

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The first one, full coordination

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Full coordination means at first

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before they started their task

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they make a rigorous plan

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They divided the work

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They divided the role

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You took the analysis role

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You took PowerPoint

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You took technology

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You took story

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You took marketing

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and your responsibility is investment

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You just divide the labor and you make a detailed plan

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One hour later or two hours later

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then we will meet together and we discuss again

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and we talk about what happened next

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Three hours later, four hours later, something

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Very detailed

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Second coordination is minimal coordination

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Minimal coordination means

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We are in the 72-hour hackathon project 
and we don't know what happened

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Let's do whatever you want

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And what do you like?

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Do you like investigating some technology?

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Do yourself

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And what do you like?

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Do you like to research about the trend

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the social trend?

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Yes, do it

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So there's no coordination at all

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just minimal coordination

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And then the third one is adaptive coordination

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Adaptive coordination means, I already mentioned that

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you start with minimal coordination

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We don't know

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So you do whatever you want

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Then we are in the 72-hour hackathon

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So what about just 10 hours later?

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10 hours later, we meet together, then we discuss

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Then something happens

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at that time, we will make some kind of plan

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Do you understand that?

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What is the result?

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Yes, the result was surprising

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Adaptive coordination works best

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What is adaptive coordination?

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Yes, you can start this task project

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with minimal coordination first

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and at some point, you make a plan

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You begin with minimal structure

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Then later, you make a plan later at some point

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Then what about the other two?

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Full coordination and minimal coordination

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Among these two coordinations

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full coordination, which means the rigorous plan at first

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works worst

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You know what I mean?

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Think about it

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When you start your businesses

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you can use this research result

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When you start your businesses

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probably you face extreme busy schedule

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and also you don't know what to do,

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So you'd better start with minimal coordination first

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Then later, at some point, you make a detailed plan later on

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If you start with a very rigorous plan

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it works worst

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Remember this result, which is very interesting

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So I suggest you guys to employ adaptive coordination style

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That's a leadership style

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Third consideration for the founders

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is task significance

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What is the task significance?

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Task significance refers to the degree to which

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a job or task has a substantial impact on other people

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What do you mean by that?

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Think about it

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Some jobs have a huge impact on other people

285
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Other jobs don't have this

286
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The important thing is this job significance

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can be perceived by the employees subjectively

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You know what I mean?

289
00:15:00.440 --> 00:15:06.000
Some employees perceive their job as a huge impact job

290
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Other people perceive their job as a less impact job

291
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but more important thing is

292
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If the employee perceives their job as significant

293
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then what happens?

294
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They feel meaningful

295
00:15:20.760 --> 00:15:26.260
They find more meaning or purpose in their job

296
00:15:27.080 --> 00:15:28.440
Why is this important?

297
00:15:28.440 --> 00:15:33.540
If they find the meaning in their job, then they work hard

298
00:15:33.700 --> 00:15:35.000
You know what I mean?

299
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They work harder and harder

300
00:15:37.080 --> 00:15:41.000
without any money involved

301
00:15:41.000 --> 00:15:45.000
without any command

302
00:15:45.320 --> 00:15:48.000
They work very hard

303
00:15:48.000 --> 00:15:51.560
I want to introduce interesting research

304
00:15:51.560 --> 00:15:54.400
regarding task significance

305
00:15:54.440 --> 00:15:55.400
Look at him

306
00:15:55.440 --> 00:15:57.380
He is a professor at Wharton School

307
00:15:57.380 --> 00:16:00.760
and he conducted very interesting research

308
00:16:00.760 --> 00:16:04.180
His research is an experiment

309
00:16:04.560 --> 00:16:09.580
And he targeted the core center members of the universities

310
00:16:09.580 --> 00:16:14.680
Think about major universities like Harvard or Wharton

311
00:16:14.680 --> 00:16:21.040
They had core center members to generate donations

312
00:16:21.040 --> 00:16:23.780
from the alumni

313
00:16:23.780 --> 00:16:28.740
So their major job is to call the alumni

314
00:16:29.280 --> 00:16:33.280
and ask them to donate money to the university

315
00:16:33.900 --> 00:16:34.900
So think about it

316
00:16:34.900 --> 00:16:37.340
If you graduate from Hanyang University

317
00:16:37.340 --> 00:16:38.640
and your university

318
00:16:38.720 --> 00:16:40.760
Then three years later

319
00:16:40.760 --> 00:16:43.000
you receive the phone call from the university

320
00:16:43.000 --> 00:16:45.620
and a core center member told you

321
00:16:45.620 --> 00:16:49.900
to donate a certain amount of money to the university

322
00:16:49.900 --> 00:16:53.000
for a scholarship for the student

323
00:16:53.000 --> 00:16:54.520
Then what are you going to do?

324
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Are you willing to pay money

325
00:16:57.000 --> 00:17:00.520
or you are not willing to pay money?

326
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It's up to you

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00:17:02.440 --> 00:17:04.620
But some alumni, some people

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just hang up without anything

329
00:17:07.000 --> 00:17:09.120
Or some alumni

330
00:17:09.120 --> 00:17:13.300
just talk to bad name to the core center members

331
00:17:13.300 --> 00:17:18.000
And then the core center members feel terrible

332
00:17:18.000 --> 00:17:21.620
If they met those kind of situation

333
00:17:21.620 --> 00:17:25.640
so this is the whole situation about core center members

334
00:17:25.640 --> 00:17:30.080
We say they are labor, the emotional labor worker

335
00:17:30.080 --> 00:17:34.000
and then his experience is like this

336
00:17:34.180 --> 00:17:39.440
He just arranged kind of a brief meeting for them

337
00:17:39.460 --> 00:17:42.300
with the beneficiary of the donation

338
00:17:42.300 --> 00:17:45.480
which beneficiary means in this case

339
00:17:45.480 --> 00:17:48.480
kind of a student who received the scholarship

340
00:17:48.480 --> 00:17:50.360
from the alumni donation

341
00:17:50.360 --> 00:17:54.160
Then the scholars let them talk

342
00:17:54.160 --> 00:17:56.300
kind of for 10 to 15 minutes

343
00:17:56.300 --> 00:17:58.460
Let them talk, just to talk

344
00:17:58.460 --> 00:18:00.320
what about your scholarships?

345
00:18:00.320 --> 00:18:03.040
what about your fundraising activities?

346
00:18:04.240 --> 00:18:07.320
So simply allow

347
00:18:07.320 --> 00:18:10.780
simply he allow core center members

348
00:18:10.780 --> 00:18:14.340
to meet the student who received the scholarship

349
00:18:14.340 --> 00:18:15.840
from the donation

350
00:18:16.780 --> 00:18:19.420
This meeting

351
00:18:19.420 --> 00:18:23.200
this meeting itself increased

352
00:18:23.200 --> 00:18:26.480
core center members' performances significantly

353
00:18:26.480 --> 00:18:28.300
without anything

354
00:18:28.940 --> 00:18:30.660
We didn't give the money

355
00:18:30.660 --> 00:18:34.000
we didn't promote them

356
00:18:34.660 --> 00:18:37.380
so anything, without anything

357
00:18:37.480 --> 00:18:39.860
just meeting with the beneficiary

358
00:18:39.860 --> 00:18:43.700
meeting with the student who received the scholarship

359
00:18:43.700 --> 00:18:47.200
just increased the performance significantly

360
00:18:47.200 --> 00:18:48.400
How much?

361
00:18:48.560 --> 00:18:52.000
142% increase in the working hour

362
00:18:52.000 --> 00:18:55.000
and 171% increase in the fundraising amount

363
00:18:55.000 --> 00:18:56.000
without anything

364
00:18:56.000 --> 00:18:57.260
How is this possible?

365
00:18:57.260 --> 00:18:58.440
How is this happening?

366
00:18:58.440 --> 00:19:03.000
Because after meeting with the student

367
00:19:03.000 --> 00:19:06.120
who received the scholarship from the fundraising

368
00:19:07.000 --> 00:19:09.820
the core center members

369
00:19:10.420 --> 00:19:14.000
actually perceived their job

370
00:19:14.000 --> 00:19:17.600
as very significant for somebody else

371
00:19:17.600 --> 00:19:20.480
They understood how important their job is

372
00:19:20.480 --> 00:19:22.580
So that's why they work harder

373
00:19:22.580 --> 00:19:27.120
and they increase the fundraising money

374
00:19:27.120 --> 00:19:29.120
Look at this

375
00:19:29.120 --> 00:19:31.200
If you are a startup founder

376
00:19:31.200 --> 00:19:34.000
then your first task would be

377
00:19:34.000 --> 00:19:38.320
make your employee perceive their job important

378
00:19:38.320 --> 00:19:40.000
You know what I mean?

379
00:19:40.020 --> 00:19:42.160
Let's move on

380
00:19:42.160 --> 00:19:46.000
The last consideration that I want to suggest to you

381
00:19:46.000 --> 00:19:48.000
is perceived progress

382
00:19:48.000 --> 00:19:50.000
Perceived progress means

383
00:19:50.000 --> 00:19:54.340
it's kind of a first sense of moving forward toward your goal

384
00:19:55.520 --> 00:19:58.000
It doesn't have to be a big jump

385
00:19:58.500 --> 00:20:01.000
If you move forward a little bit

386
00:20:01.000 --> 00:20:03.000
a little bit, continuously

387
00:20:03.000 --> 00:20:07.540
If you feel you are moving forward 
to the goal continuously

388
00:20:07.540 --> 00:20:11.580
then the members inside your company feel safe

389
00:20:12.940 --> 00:20:16.460
So it is a very powerful motivator

390
00:20:16.460 --> 00:20:18.800
in shaping emotion and behavior

391
00:20:18.800 --> 00:20:21.700
If your members feel like this

392
00:20:21.700 --> 00:20:23.820
then they will work harder

393
00:20:23.820 --> 00:20:26.000
This is the whole story

394
00:20:26.000 --> 00:20:29.720
I want to introduce the research regarding this theory

395
00:20:30.640 --> 00:20:36.000
Look researchers conducted 117 early-stage entrepreneurs

396
00:20:36.000 --> 00:20:40.740
working at the entrepreneurship incubator in the Philippines

397
00:20:40.820 --> 00:20:42.000
Asian country

398
00:20:42.000 --> 00:20:44.000
And then basically

399
00:20:44.000 --> 00:20:48.160
they received survey opinions, surveys four times a day

400
00:20:48.160 --> 00:20:51.000
Wow, it's so heavy

401
00:20:51.000 --> 00:20:53.000
Over six weeks

402
00:20:53.000 --> 00:20:54.000
six-week period

403
00:20:54.000 --> 00:20:56.000
they sent out the survey questions

404
00:20:56.000 --> 00:20:58.000
four times a day, four times

405
00:20:58.400 --> 00:21:03.000
Morning after lunch and before the evening, and late night

406
00:21:03.000 --> 00:21:05.120
They received the opinion

407
00:21:05.140 --> 00:21:09.000
from the 117 entrepreneurs

408
00:21:10.000 --> 00:21:11.740
Over six weeks

409
00:21:12.660 --> 00:21:17.000
So with this heavy effort of the research

410
00:21:17.200 --> 00:21:24.680
the scholars try to analyze the relationship

411
00:21:24.680 --> 00:21:29.280
between the feeling of the perceived 
progress and the performance

412
00:21:29.280 --> 00:21:31.180
What is the result?

413
00:21:31.180 --> 00:21:33.000
The result was

414
00:21:33.000 --> 00:21:36.000
if the entrepreneur

415
00:21:36.000 --> 00:21:38.000
feel that they are moving forward

416
00:21:38.000 --> 00:21:41.720
then they put tons of effort in it

417
00:21:41.720 --> 00:21:43.000
Other than that

418
00:21:43.000 --> 00:21:45.000
probably they gave up

419
00:21:45.000 --> 00:21:46.000
You know what I mean?

420
00:21:46.000 --> 00:21:49.000
Or they didn't put too much energy on it

421
00:21:49.000 --> 00:21:51.000
So important thing is what?

422
00:21:51.000 --> 00:21:55.000
Important thing is you make your members feel progress

423
00:21:55.000 --> 00:21:57.680
Then they will work hard

424
00:21:57.680 --> 00:22:00.000
So what do you think?

425
00:22:00.000 --> 00:22:02.000
We should face ugly truth

426
00:22:02.000 --> 00:22:05.640
If you start your businesses, you don't have money, you don't have people

427
00:22:05.640 --> 00:22:07.000
you don't have energy

428
00:22:07.000 --> 00:22:11.000
or you should deal with many different tasks at the same time

429
00:22:12.460 --> 00:22:15.600
So how to handle those things effectively?

430
00:22:15.600 --> 00:22:19.120
So that's why I suggest four considerations

431
00:22:19.280 --> 00:22:20.420
What are they?

432
00:22:20.420 --> 00:22:23.000
First one, you should be charismatic leader

433
00:22:23.000 --> 00:22:24.000
Why?

434
00:22:24.000 --> 00:22:29.000
Because charismatic leader increase the productivity without money

435
00:22:29.000 --> 00:22:30.000
It's a good thing

436
00:22:30.000 --> 00:22:34.000
Second one, you'd better employ adaptive coordination

437
00:22:34.000 --> 00:22:35.000
Why?

438
00:22:35.000 --> 00:22:37.640
Because adaptive coordination works best

439
00:22:37.800 --> 00:22:43.660
Especially when you face extreme time pressure situation

440
00:22:45.000 --> 00:22:47.860
And third one

441
00:22:47.860 --> 00:22:50.600
you should make your members

442
00:22:50.600 --> 00:22:56.000
perceive that their job is very significant

443
00:22:56.000 --> 00:22:59.760
If they perceive their job is significant then they work very hard

444
00:22:59.760 --> 00:23:01.000
And the last one

445
00:23:01.000 --> 00:23:04.000
you should make your members feel progress

446
00:23:04.000 --> 00:23:06.680
If they feel progress, then they will work hard

447
00:23:06.680 --> 00:23:09.000
Please remember those four considerations

448
00:23:09.000 --> 00:23:11.220
they will be very helpful for you

449
00:23:11.220 --> 00:23:13.000
Thank you for listening