Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

How to Succeed in 2007
We asked 50 of the brightest minds in business how they do what they do - and how you can cash in on their advice in the year ahead.
Back to feature
Stephen Covey
Stephen Covey
Vice Chairman, FranklinCovey; Author, The 7 habits of Highly Effective People
Strive for Moral Authority
Most people define greatness through wealth and popularity and position in the corner office. But what I call everyday greatness comes from character and contribution. Sometimes people who possess the wealth and prestige also have everyday greatness, but not that often in our celebrity-obsessed culture, because they are primarily focused on what's in it for me. I'm in favor of achievements - degrees and wealth and that sort of thing. Still, those achievements convey formal authority but not always moral authority. The only way to acquire moral authority is through your character and contribution, to live in such a way as to merit the confidence and the trust of other people. Moral authority is especially important to business. This is because in order to reduce costs, increase production, and nurture a culture of innovation - all of which are important criteria in today's global economy - you've got to have high trust among your workers and partners. Why? Because everyone involved needs to sacrifice. If you don't have high trust, none of those things will happen. You can't fake high trust.
 What do you think it will take in 2007 to succeed in business? E-mail the editors here.
The 50 People Who Matter Now A Business 2.0 exclusive list: Meet the executive, entrepreneurs, and cutting-edge innovators who are setting today's business agenda. (more)
Best-Kept Secrets of the World's Best Companies Here are 25 great management practices you've probably never heard of - and might want to start implementing tomorrow. (more)