Dee Hock, the founder and former CEO of the Visa Credit Card Association is a well known figure in the financial and banking industry. A brief summary of his management principles are highlighted below.
1) Associates: Hiring and promotion of associates should be driven primarily by their integrity, followed by motivation, then capacity, understanding and finally knowledge. Moreover, seek associates with radically differing perspectives and abilities than yours. They will keep you honest.
2) Compensation: The best people are motivated not by money, but seeking alignment with their principles, morality and beliefs.
“Make a careful list of all things done to you that you abhorred. Don’t
do them to others, ever. Make another list of things done for you that
you loved. Do them for others, always.”
3) Creativity: The key is to clear the mind occupied with arcane paradigms of what you know, think and believe. The resulting empty space will be filled instantly with creative and innovative thoughts and ideas.
4) Leadership: Invest at least 40% of the time managing yourself (your conduct, work ethic, character, motivation etc.), 30% of the time managing people above you (relative to authority), 15% of the time managing your peers, and the remainder (15%) working with your associates to practice the same.
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