Jens Wüstemann, President of Mannheim Business School: Five Things You Need To Be A Highly Effective Leader During Turbulent Times
What motivates me is interacting with students, thinking about complex problems, trying to solve them, and contributing to progress of the school, students, and alumni. There is also motivation in seeing how the school moves forward each year. I am incredibly happy when I teach and in working together with the team at Mannheim Business School. It’s the reason I like to wake up in the morning: making a difference and being happy!
As part of our series about the “Five Things You Need To Be A Highly Effective Leader During Turbulent Times”, we had the pleasure of interviewing Jens Wüstemann, President of Mannheim Business School (MBS), the umbrella organisation for management education at the University of Mannheim. Wüstemann knew he wanted to be a professor since he was a young boy, and discusses how the Ancient Greeks, Shakespeare, and a Nobel Prize-winning poet laureate can offer great advice for those in positions of leadership.
Thank you so much for your time! I know that you are a very busy person. Our readers would love to “get to know you” a bit better. What three words would best describe your approach to leadership and why?
1. Analysis: Before I decide something, I want to understand all the options: the upsides and downsides, the risks.
2. Vision: To take an analysis and come to a conclusion of what to do. That’s an important part of what leadership is about.
3. Empathy: I believe that in order to convince people you work with to follow a path, which can include challenging decisions, it’s vital to be empathetic. It’s an important part of leadership — not only to be a good manager who knows how to do things right — but also a leader who knows how to do the right thing. For people to follow you, they have to be convinced of the reason for why you’re taking that path.
What would you say is the most critical role of a leader during challenging times?
Challenging times are typically perceived as something negative, but a challenge can also mean a huge opportunity. The most critical role of a leader is to find solutions, to make decisions that open opportunities to benefit from challenges, and to convince the organisation to take that path as well. If I ask my leadership team to challenge my position, it’s not negative — it’s about opportunity. The world has been challenging since the beginning of time — it’s the nature of the world. People who are good leaders can turn challenging times into a positive opportunity. The better you deal with challenging times, the more of competitive advantage you have.
What is the best way to communicate difficult news to a team?
The starting point should be honesty. Difficult news doesn’t get better because you hide it.
I conduct research in regards to the role of information in capital markets. If there’s one lesson to be learnt it’s that, while markets react negatively to bad news, they react even worse if the difficult news is disclosed step-by-step and denied along the way before being made public.
If I had a President of a business school who I thought wasn’t giving the whole truth, then I would be unwilling to follow them. On the other side, it’s a question of responsibility, admitting that we will make things as good as we can. But we have to be sincere that it is still bad news. Honesty is crucial.
When the future seems uncertain, what is the best way to boost morale?
As with challenging times, uncertainty is also typically seen as something bad. People tend to think that if things are certain, then it’s better. However, uncertainty is defined as deviation from the expected — which can go in both directions: good and bad. So, uncertainty can provide huge opportunity for those who are well-skilled and well-organised with a clear path.
Uncertainty opens up room for decision making, and those that take advantage of the opportunity are better off. We all face uncertainty, but those that see opportunities are on the winning side. In a world of complete certainty, we could stop working, because everything would be clear. But it would also be boring, and it wouldn’t generate opportunities for improving ourselves.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
I have three quotes, all related to the way I think about my role and myself.
When leaders in Ancient Greece went to war or faced difficult questions, they went to the oracle, Delphi, and asked for input. In the forecourt of the temple would be the words “Know thyself” in Greek. If you don’t know yourself — your capabilities and limitations — you cannot be an effective leader.
My second is “Beauty lies in the eyes of the beholder.” In the market I operate in, we have highly talented, gifted, educated applicants and it’s about ensuring they see the value of our proposition. If they don’t, then we’re doing something wrong. Very often, we might be convinced something is good, but do others think it’s good? If a lot of people think you’re doing things right — then I tend to believe it’s right. If nobody thinks so, it’s time to question yourself.
My third quote is from a Nobel Prize-winning poet laureate, Hermann Hesse. He wrote a fantastic poem called ‘Steps’ — in German term ‘Stufen’. There’s one line in the English translation — “A magic dwells in each beginning, protecting us, telling us how to live.” It’s about not looking at the past, but to the future — not being naïve, but seeing the opportunities ahead and being open-minded.
Do you have a book in your life that impacted you and inspired you to be an effective leader?
There are actually two books which relate to getting to know yourself and the world. The first is a fantastic novel by Marcel Proust, who I think is one of the greatest novelists of all time. He wrote ‘À la recherche du temps perdu’; in English, ‘In Search of Lost Time.’
On every page when reading this book, I learnt something about myself, contributing to “knowing thyself”. I truly believe that without introspection, one cannot make a difference to themselves or the outside world. Proust really looks into himself and, by this, I am looking into myself.
The next is the collected works of Shakespeare, the best writer of dramas I know. Shakespeare’s plays tell us something about the world; about conflicts and solutions, some of which are peaceful, while others are not. Shakespeare sees the drama of the world and is clear on his view.
If I search for coaching sessions, I open these two books and find answers to most problems.
If looking for real inspiration for leadership, my favourite Shakespeare work is ‘Henry V’. Faced against an army that outnumbered his own army by far, he addresses his soldiers in a monologue where he says “If we lose our lives, then it’s good we are so few, because less people get killed. If we win, then for decades the story will be told.” He then addresses a group of men and says “You are the happy few.” I think every leader should read this monologue — they are a small group and he’s saying ‘no, you’re the happy few’. It’s not about not being there. If they want to leave, they can leave. But for those who stay, he is their brother. It’s a story of leadership from a positive perspective.
Based on your experiences, what are the five most important things a leader should do to lead effectively during uncertain and turbulent times?
I think it really starts with analysis, understanding what’s happening and searching for options. The second is to let others in the leadership team challenge you. During times of uncertainty, no one person has the right answer. You should let choices be challenged and admit to being wrong if you are. The third is to develop a strategy for how to deal with this uncertainty, almost a conclusion to say ‘this is where we go’. The fourth is to communicate the chosen path forward in a very open and honest way. The fifth is to inspire. Explain why you are taking this approach, the opportunity in doing this, and the benefits of exploiting difficult times.
If you could tell your younger self one thing, what would it be?
A lot of people, maybe all, including myself, tend to look too much to the past. I would tell my younger self to concentrate more on the future. It’s not about forgetting the past, but we do tend to stick with our old habits. The future allows us to change, which I consider a virtue of mankind.
Think less about the past, think more about the future. Accept the future, and go that way.
What are your hopes for the future of business education and for Mannheim Business School?
If we look at global challenges, they are immense: financial crises, economic crises, state and debt crises, wars.
I am not naïve but I am positive about the future. Mankind has the toolbox to solve problems, but they don’t always do this. My hope for MBS, beyond rankings, is to make a contribution that enables managers and leaders in the future to apply what they have learnt to make the world a better place.
I am sincerely convinced that those who have graduated from our school have everything in their toolbox to make that change. Thirty years ago, students and graduates mainly wanted to work to earn money, but today, when I speak to younger students, they want a purpose to what they’re doing. They want to know that what they’re doing is the right thing to do. If an employer can’t explain why one should do the job, what the purpose is, it’s not so attractive anymore.
It is my hope and sincere belief that MBS can effectively educate people with that willingness to change things for the better.
Thank you! We wish you continued success!
