People are the heart and spirit of all that counts. Without people, there is no need for leaders. Leaders can decide to be primarily concerned with leaving assets to their institutional heirs or they can go beyond that and capitalize on the opportunity to leave a legacy, a legacy that takes into account the more difficult, qualitative side of life, one which provides greater meaning, more challenge, and more joy in the lives of those whom leaders enable. Besides owing assets to their institutions, leaders owe the people in those institutions certain things. Leaders need to be concerned with the institutional value system which, after all, leads to the principles and standards that guide the practices of the people in the institution.
Leaders owe a clear statement of the values of the organization.
These values should be broadly understood and agreed to and should shape our corporate and individual behavior. These are not easy questions to deal with. Leaders are also responsible for future leadership. They need to identify, develop, and nurture future leaders. Leaders are responsible for such things as a sense of quality in the institution, for whether or not the institution is open to influence and open to change.