Resiliency and Emotional Toughness of the Self-Taught CEO
Ms. Katharine Graham¿s autobiography explores many dimensions of life that will appeal to readers: lifestyles of the rich and famous with her celebrity and society friends; an inside look at one of America¿s most powerful and famous families in the 20th century; overcoming the personal tragedy of being married to a brilliant, manic-depressive cheater who was nasty to her; a history of the rise of the Washington Post from a minor D.C. paper to the top ranks of international journalism; becoming the head of a family that had been dominated by strong personalities who had put her in a supporting role; seeing the interactions of the press with presidents up close; and learning to be a female publisher and CEO on the job with almost no prior experience. If you are like me, you will find the sections of the book about her growing up as Andre Meyer¿s daughter, Watergate, the strike with the pressman¿s union at the Post, and her relationship with Warren Buffett to be the most interesting parts of the book. If, like me, you decide that you find Ms. Graham appealing, it will probably be because of her willingness to do the right thing, even when very painful and dangerous to her, and her loyalty to others . . . even when that loyalty may not have been earned. Even to her enemies, she held out olive branches to keep lines of communication open . . . which were often rejected. Although the book is candid about her own failings (having been too sheltered as a child and wife, making lots of mistakes in picking and working with people at the Washington Post Company, and being too accepting of male chauvinism) and family members who are deceased (especially her father, mother, and husband), she pulls back from any significant observations about many of her friends and acquaintances who are still living. You will see these people primarily from the perspective of having been lunch and dinner companions and guests. A curtain of privacy is also pulled over long sections of her life. For example, you will find out the names of the people and the yacht that she disappeared on for several weeks, but nothing about what occurred. On the other hand, CEO autobiographies usually toot the horn of the CEO. The closest this one comes to tooting is quoting Warren Buffett in pointing out that Washington Post Company stock grew more than double the rate of any other similar company during the time when she was CEO. Actually, even that observation is modest. As measured by stock-price performance, Ms. Graham is one of the great CEOs of the 20th century. She has also left behind a legacy of commitment to a free press from the Pentagon Papers publication and the Watergate exposures that will stand as a beacon for future publishers. In either case, she could have lost the bulk of her wealth and influence had things turned out differently. Most CEOs would be reluctant to take those kinds of risks in the public interest. Certainly, there was no financial windfall to taking these courses. It was simply the right thing to do. Thank you, Ms. Graham! Have you ever been in a situation where you were supposed to know how to do something, but had no clue? Throughout her business career, Ms. Graham was placed in that awkward situation. Towards the end of the book, she reveals that she wished that she had attended Harvard Business School. Throughout her business career, Ms. Graham reveals here feeling like a fraud and not knowing what questions to ask. But in business, it¿s usually more important what you do than what you know. And she kept moving forward until she found a method that worked. That kind of perseverance takes great moral courage, and I was impressed to realize just how much more difficult her accomplishments were to achieve than they seemed to outsiders. Where should you be taking a more active role in choosing your life¿s direction? Where should you be more understanding of friends and family members? Whe
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