CEOs' Words of Wisdom for the Class of 2008

With graduation behind them, newly minted MBAs are getting ready to put their hard-earned knowledge to work. Perhaps some of the most valuable wisdom they received didn't come from professors or coursework, but from the inspirational words of a CEO on the commencement podium. A prevailing theme from this season's commencement speakers was how new challenges—including globalization, social responsibility, and environmental sustainability—will change the role of the leader in the 21st century.

• Muhammad Yunus (the pic), Founder and managing director of Grameen Bank: The 2006 Nobel Peace Prize winner addressed the entire body of MIT graduates, but his message that businesses should exist first to serve social good was perhaps heard loudest by Sloan's MBA grads.
• William Weldon, Chairman and CEO of Johnson & Johnson: Weldon pointed to two adages that have inspired him most: the words written on Jackie Robinson's tombstone—"The value of a life is measured by its impact on other lives"—and his own company's credo, which says strong leaders are those who build a sense of purpose for themselves, their employees, and their organization.
• Jeffrey Immelt, Chairman and CEO of GE: Immelt urged graduates to continue the process of learning throughout their careers—both from successes and failures. "One thing I wish you more than anything else is failure. I don't mean that in a bad way, but I can't tell you how much I've learned from failure. It's how you generate confidence."
• John Denniston, Kleiner Perkins Caufield & Byers: John Denniston told graduates they should be ready to adapt in order to lead during periods of "unprecedented economic transformations."
• Robert Rodriguez, CEO of First Pacific Advisors: "As your career unfolds, you will face many choices. Beware of gravitating to the expected, expedient, accepted, and the safe. They all entail hidden risk. All too often the easier pathway appears to be the safest and surest, but it is not necessarily so."
• Ann Moore, Chairman and CEO of Time Inc: "Inactions may be regretted more in the long term. As you age, you feel worse for not trying."

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