Eric Schmidt: How to Succed in Management
Eric Schmidt appeared on a panel called "Taking the Long View – Building an Economic Foundation for the Future" at the Nantucket Project, a festival of ideas centered around the theme of change in today's world.
In this panel, Schmidt participates in a conversation that was stacked with financial heavyweights including former Harvard President and Clinton and Obama administration official Larry Summers, Hedge Fund Manager Eddie Lampert, venture capitalist Stephen DeBerry and Mellody Hobson, President of Ariel Investments. The panel was moderated by Tom Stewart, Chief Knowledge Officer at Booz and Company.
In this video, Eric Schmidt says that based on 28 years in management, he has learned that people always respond to financial incentives. The trick, however, is to correlate those incentives with the outcome you want.
Eric Schmidt is the Executive Chairman for Google (formerly CEO from 2001–2011). Prior to joining Google, Eric served on the board of directors for Apple Inc., the board of trustees for both Carnegie Mellon and Princeton Universities, was the chairman and CEO of Novell, Chief Technology Officer at Sun Microsystems, and served on the research staff at Xerox PARC, Bell Labs and Zilog. In 2005, Eric and his wife, Wendy, created The Schmidt Family Foundation, which focuses on the responsible use of energy and natural resources. The Foundation has launched several projects on Nantucket, including ReMain Nantucket, a program that seeks to build on the island’s unique history of conservation, independence and innovation.