Why Should Business Leaders Read Classic Literature?

In today’s fast-paced, technology-driven world, business leaders often prioritize reading material directly related to their field, such as industry reports, market analyses, and business management books. However, there is a profound value in turning to classic literature for inspiration, wisdom, and personal growth. Classic literature offers timeless insights into human nature, ethics, leadership, and decision-making that are invaluable for business leaders. This article is written based on a speech by Scotty McLennan (Professor at Stanford Graduate School of Business) on “Great Literature for Great Leaders.” What Can Business Leaders Learn from Great Literature?

Why Should Business Leaders Read Classic Literature?

In business studies, case studies, and biographies of successful businessmen are usually studied, providing information about a company or a person’s work or business. However, other parts of people’s lives apart from the workplace, such as family and social life, also play a role in their decision-making. These aspects are often missing in case studies or biographies.

Here lies the main difference between literature and all these – literature speaks of the whole life. Through literary characters, we can clearly see their whole life and understand the entire picture. For example, we can learn about what they are doing in their personal life, how much their family, wife, and children influence their life and work, how they balance business or work with family life, and how they handle conflict situations or good and bad times.

Moreover, each piece of literature has different characters, their fields of work, and the stories around them. Someone might be a writer, someone else a businessman, a teacher, or a worker. We see how their life and life decisions change and how the definition of success is understood through their experiences. Literature fosters readers’ ability to analyze different situations and make decisions more easily.

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What’s a Novel Every Business Student Should Read?

Professor Scotty McLennan recommends that business students read F. Scott Fitzgerald‘s book The Last Tycoon. It was the author’s last book before his death and remained unfinished. The main character of this novel is a Hollywood producer. The professor suggests that there is much to learn and appreciate from his life. For example, in the book, we can learn a lot from how the Hollywood producer worked with his movies, hero, heroine, script, management, movie budget, etc., and how serious he was about his work, which made him a successful producer.

However, his family life was tragic. His wife died, and he fell in love with another woman, but above all, his work took precedence. The producer was so dedicated that the doctor warned him that he would die if he continued at such a pace. His love life suffered due to his busy schedule because relationships require a minimum amount of care to be sustained, which he was unable to provide. Even though he was 100% successful in his career, he lost everything else – family, love, and good health.

Now, in your view, how successful is this producer in reality?

According to some people, career success is the real success. They believe that family life should also be balanced and relationships should be valued for happiness. They question the need to chase so much work in a short life and advocate for being happy with family, love, and relationships.

However, another group of people believes that it is possible to bring about significant change outside the family, which can positively impact many lives and bring good changes to society. For them, making sacrifices for greater success is worthwhile.

Analyzing literary characters and brainstorming about their situations helps readers develop their thinking power and find the true meaning of life. That is why the professor suggested this book, where there is an opportunity to understand the conflicts, successes, and failures of career life and family life very clearly, which is impossible to master by reading a case study or biography.

Is it really possible to have it all in work and life?

From birth, people constantly strive to achieve various milestones. After getting admitted to a good school, they aim for a good college, then a good university, followed by a good job. In the context of our country, they might also prepare for BCS exams to become a cadre.

They are so busy with one step after another that they don’t have time to stop and think about where they will be in 10/15/20 years, how they want their life to look then, and how they can balance work and life.

However, these considerations are important. One should think about how they want to see their life in old age with family, work, children, and relationships and decide accordingly. We don’t get to do much in a short life; we should choose and balance things according to priorities to make our life more meaningful.

What are some other books on the essential reading list?

The professor suggested several books and authors, including The Great Gatsby and The Last Tycoon by Fitzgerald, Death of a Salesman and All My Sons by Arthur Miller, short stories by Flannery O’Connor, books by Jane Smiley, and The Stranger, The Plague, and The Fall by Albert Camus. These writers and their stories can help find new meaning in life.

What’s the greatest business lesson literature has to offer?

Ultimately, literature teaches businesses the importance of love and sustaining relationships. Every relationship related to business should be valued highly, and sincere relationships should be created. For example, maintaining good relationships with customers, producers, distributors, suppliers, and employees is crucial. Emotional connections with stakeholders, built on sincere relationships, are essential for long-term business sustainability. Literature helps nurture these values of love and relationships.

The importance of this speech is magnified because it comes from a professor at a prestigious university like Stanford, which has produced many successful businesspeople and billionaires. Literature can help you make the right decisions on how to build your life and make business-related decisions easier, helping you face any challenge in life.

Now ask you why should business leaders read classic literature? Comments below.