Sam Walton: Walton setup the Wal-Mart chain to bring everyday household goods and other necessities to people at lowest prices. In this endeavor, he squeezed costs at every point that he could, setting up stores with mega parking space outside city limits, cutting out intermediaries and such extreme measures as making executives travel economy class and share rooms. To me, he is one leader who had a vision and was able to percolate it down to the bottom of the enterprise. In his effort, he made his employees realize the value of frugality. He made it a part of culture that is evident till date. Getting his followers to see his vision and making it a sustained activity, long after he was gone is what I admire Sam Walton for.
Michael Dell: Dell is a personal favorite because he was bold. Bold because he quit his MBA to start a venture because he truly believed in it. Bold because he changed the entire business model of the IT industry, despite being an unknown player. And bold because he challenged the giants of PC industry and ultimately forced many out of business. He proved that it’s not always out-of-the-world ideas that change the world, but simple logic of cutting out intermediaries to reduce costs. At the same time, he was consistently able to deliver high quality, customized computers. Dell was able to capture the entire value chain by partnering with his suppliers and involving them in product design and sharing information.
Herbert Kelleher: Kelleher recognized a simple need of the consumers, to be able to fly at the lowest possible prices and built an entire company on it. In this feat, he constantly tried to benchmark his company not with other airlines, but with road transport (cars, buses etc) which he perceived as threats to his business. Kelleher survived difficult times and remained successful, simply by focusing on two things – constantly listening to his consumer’s needs and orienting his employees to share in his vision and mission. He made his employees a part of the company and made cost cutting a culture rather than a one time activity to improve profitability