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Chapter 2: Leveraging your Passionate Mission and Your Valuable Intellectual Capital

Chapter 2: Leveraging your Passionate Mission and Your Valuable Intellectual Capital

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Published by Brent Patrick
Claiming the Corner Office: Executive Leadership Lessons for Nurses

Connie Curran, EdD, RN, FAAN and Therese Fitzpatrick, PhD, RN
Claiming the Corner Office: Executive Leadership Lessons for Nurses

Connie Curran, EdD, RN, FAAN and Therese Fitzpatrick, PhD, RN

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Published by: Brent Patrick on Apr 29, 2013
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05/13/2013

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Chapter 2
Leveraging YourPassionate Missionand Your ValuableIntellectual Capital
“In early 2011, high above Park Avenue in mid-town Manhattan, a meeting took place in the well-appointed ofces o a publicly traded investment banking frm. This $6.5 billion private equity frmmakes large investments in health care-related en-terprises, including hospital systems. The bankerhosting the meeting described the company’s in-vestment strategy and interest in the health caresector, stating that, ‘Given the population demo- graphics and looming government reorm initia-tives, our company is interested in making invest-ments in successul health care organizations and leveraging our investment to make their peror-mance even stronger. We understand that value inhealth care is not measured by proft alone but by
 
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Claiming the Corner Oce: Executive Leadership Lessons or Nurses
clinical outcomes as well.’ He urther stated that the ‘one area we have yet to fgure out is nursing.We know that nursing is the key to making theseorganizations efcient, but we can’t fnd qualifed nurses fnancially savvy enough to manage our op-erations and provide us investment guidance. My partners and I think nurses are the ones with thecost/quality knowhow. Do you realize how valu-able your intellectual capital is to Wall Street? Doyou realize that today, Wall Street investors would  pay substantially or nurses with these businessskills? We need you to advise us on managing ourinvestments and providing value in this sector.’”
 –True story, Therese Fitzpatrick, April 1, 2011
Understanding the Big Picture
What an exciting time to be a nurse leader. Over the courseo our careers, many o us have lamented that we have beenunderappreciated by our organization’s senior leaders andmarginalized in the larger dialogue ocused on shaping the utureo health care. Ater all, we represent the voice o the consumerat these important strategic tables, right? Right? Aren’t we thediscipline with the expertise in coordinating care, managingclinical outcomes, running complex organizations, and serving aspatient navigators through the turbulent waters o contemporaryhealth care? Is this the opportunity we have been dreamingabout—nally, a seat at the power table? But are we ready?How do we package and communicate our substantial expertisein a manner that demonstrates that executive nurses are thesource o leadership or critical policy decisions and at the moststrategic levels o businesses and health care organizations? Weare increasingly being calling upon by unexpected audiences withrapidly expanding needs or our perspectives, leadership, andstrategic vision.
 
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Chapter 2:
Leveraging Your Passionate Mission
I excitedly spoke with several colleagues ater this WallStreet meeting, asking whom we might know that would beinterested in such an exciting opportunity. Ater all, this wouldbe the perect role or the business-savvy chie nursing executive.Talk about the corner oce—it does not get bigger than this, orso I thought. Yet those niggling eelings o insecurity began tosurace during the course o these conversations, those age-oldinsecurities about our abilities and sel-perceptions and businessknowhow. “What intellectual capital do I possess that investorsmight nd valuable?” “I know how to talk with my C-suitecolleagues, but can I use those same skills with investors?” “Howdo I know how to valuate this intellectual capital you claim Ipossess?”
What Is Intellectual Capital?
As your guides to the corner oce, we are suggesting that thecall to action is one o articulating our intellectual capital (IC)and repurposing this valuable commodity or the larger businesscommunity. As health care leaders, we have the requisite skillsto invite ourselves to the table, but as our corner oce executivenurses contend, we need to walk tall and demonstrate thecondence that emanates rom our capabilities. Now is
not 
the time to impose our own glass ceiling on nurse leaders withthe interest, aptitude, and tenacity to enter uncharted territory,whether that be a well-deserved seat in the corner oce, WallStreet, the State House, at the highest levels o our military, oras an entrepreneur. Rhonda Anderson agrees: “One o the mostpivotal things and something I would suggest is that people reallyneed to be aware o not waiting or those things to be comingat them, but always scanning the universe in our industry aswell as nonindustry areas, because the other areas drive whatour industry does, meaning the benet purchasers drive whatwe need to be doing in terms o giving value to them and theirmembers.”

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