35: The Heart of Business

The Gary Bisbee Show

35: The Heart of Business

In this episode, we hear from Hubert Joly, Senior Lecturer, Harvard Business School; Former Chairman and CEO, Best Buy; Author, The Heart of Business. Hubert shares his philosophies behind Best…
November 11, 2021

35: The Heart of Business

Meet Hubert Joly:

Hubert Joly is the Former Chairman and CEO of Best Buy, and credited with the organization’s transformation. He has received numerous recognitions for this role including “Top 100 CEOs in the World” by Harvard Business Review in 2018 and was named HEC Paris Person of the Year in 2020. Based on his experiences, he published a book, “The Heart of Business: Leadership Principles for the Next Era of Capitalism,” that shares the philosophes behind Best Buy’s turnaround and explores how to put those ideas in practice. Hubert also serves on the boards of Johnson & Johnson and Ralph Lauren, and is a Senior Lecturer of Business Administration at Harvard Business School.

Key Insights:

Hubert Joly encourages leaders to redefine how we imagine business. Making money is an outcome, but should never be the purpose. Rather, Hubert emphasizes a focus on employee excellence.

  • I Don’t Know. Hubert encourages leaders to admit when they don’t have all the answers and ask for help (18:41)
  • Lead with Empathy. Healthcare organizations must ensure front line workers have the tools and environment they need to be the best versions of themselves. (20:14)
  • Noble Purpose. A new era of capitalism requires businesses to embrace all stakeholders and treat profit as an outcome, not the goal. (34:01)
  • Unleashing Human Magic. Hubert describes the environment leaders can create to foster human magic. (36:04)

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