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When we talk about leaders, we mean people who embody a certain type of competence and character—both the competence that comes from the general manager’s perspective the School cultivates and the character to understand the difference between being self- interested and self-centered. It goes far beyond knowing that it’s not right to lie, cheat, or steal. It involves recognizing that you are a true leader only when you have earned the trust of others, and when others, whether in your organizations or your communities, recognize you as such.

Making a difference means people who create real value for society, and who create value before claiming value. I’ve not found anyone who begrudges a leader for claiming value after creating value. Rather, the recent economic crisis showed us too many examples of leaders who claimed value without creating any.

It is worth noting here that there are many ways of making a positive difference: as an investor, as a general manager, as an entrepreneur, as an active citizen of your community. Indeed, what distinguishes Harvard Business School is that our graduates provide leadership in all walks of life.