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OfficeMax CEO gives KU School of Business finance students "10 Lessons in Leadership"
OfficeMax CEO Sam Duncan
Thursday, April 16, 2009
On Monday, March 30, KU School of Business students had the opportunity to learn "10 Lessons in Leadership" from OfficeMax CEO Sam Duncan, who led three finance classes, offering advice about business and life that stressed the importance of honesty, integrity and discipline.
Duncan was invited to speak at the School by finance Professor Bill Beedles. The two met ten years ago at a professional development workshop, where Beedles was lecturing on EVA (R), a metric of financial performance that, according to Duncan, "takes the stockholder into consideration." While Duncan was inspired by Beedles' teachings, Beedles knew that he was "in the presence of a great leader," and the two developed a great friendship.
Duncan centered his classroom visits on the relationship between integrity and success, urging finance students to work hard and "tell the truth, even if it hurts." His remarks were well-received by finance students, who have seen the finance industry beleaguered in recent news stories. Duncan's "Ten Lessons in Leadership" included advice such as "Remember where you came from" and "Encourage constructive criticism," revealing a business philosophy centered on service and collaboration. His PowerPoint slides included pictures from OfficeMax Halloween parties and Christmas festivities. It was obvious that the corporate culture at OfficeMax focuses on both fun and competence.
Interspersed in Duncan's lecture on the emotional philosophy behind his career were some hard numbers regarding the dismal state of the economy. He noted that 10 million homeowners in the United States have debt higher than the value of their home, and unemployment rates reached 9% in the first quarter of 2009, statistics that spell bad news for the retail industry. While he admitted that "no one can tell us how long or how deep" the current recession will be, Duncan seemed optimistic that the predicament would help foster fiscal discipline, making our economy more resilient in the long run. Like many of the prominent men and women who visit the School of Business, Duncan gave students timely advice about how to succeed in today's business world, arming them with the real-world knowledge necessary to become great leaders.
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