Luca Cordero di Montezemolo, Former Chairman of Ferrari & Fiat Shared his thoughts on Leadership at a Recent Talk
Some highlights from the video:
What is the secret of the success of Ferrari?
“Our Products, our People, Our clients”
What does it mean to be a leader? Luca Cordero di Montezemolo looks to three factors:
1) Have Passion – You need to be “creative to look ahead & to be the first client of your product”
2) Have a Vision – You have to “put people in the best position to succeed” with “clear goals and clear priority.” “It is better give two goals” instead of a 100 goals.
3) Be Very Demanding – You have to set a high bar and set the environment so that people to come to my office with very good ideas
What does Risk Taking As a Leader Mean?
1) Take Important Decisions By Looking Ahead in each function from manufacturing to marketing
2) Take Risk in your Promotions– “Take risk by appointing new people to grow in the company” This may mean promoting someone who is doing very well as a number 3 to the number.
3) Build a Meritocracy – Luca describes the growth of growing Ferrari in emerging markets
How do you embrace Technology?
• “Drive technology in the direction you want to”
What did you see on your visit to the Valley & technology companies?
• Approach innovation with simplicity and passion for the work, technology, products, and the people