Katharine Graham

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When the New York Times published excerpts from the Pentagon Papers, a top secret department of defense study revealing government

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Deception about the Vietnam War it set off a legal battle with the Nixon administration

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The administration sought an injunction to stop further publication arguing that it would endanger national security

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In a bold move, Catherine Graham and the Washington Post found themselves in possession of the remaining portions of the Pentagon Papers

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Despite the legal risks and pressure from government officials, Graham and the Papers executive editor

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editor, then Bradley made the decision to publish the documents as the government threatened legal action

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Catherine Graham faced a pivotal moment

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She had to decide whether to defy the Nixon administration and risk the future of the Washington Post or to comply with the government standards

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In personal history her autobiography Graham describes the scene of making this decision

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She recounts she recounts a sleepless night filled with anxiety and uncertainty

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Eventually she made the courageous choice to move forward with publication

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Standing firmly behind the principles of press freedom and the public's right to information

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On June 18th

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1971 the Washington Post began publishing its series on the Pentagon Papers

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Joining the New York Times and revealing the government's deception about the Vietnam War

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The Nixon administration immediately sought a court order to halt the publication

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leading to a legal battle that eventually reached this Supreme Court

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In a landmark decision the Supreme Court ruled and favor of the newspapers upholding the freedom of the press

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The victory not only vindicated Catherine Graham and the Washington Post

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But also reaffirmed the critical crucial role of media in holding government accountable

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This pun of Pentagon paper episode stands as a testament to Graham's on wavering commitment to journalism

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Courage in the face of adversity and steadfast defense of the first amendment

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Remains one of the most memorable moments in her remarkable career and a shining example of the power of a free press

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so that story is one of

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the subject of episode 30 today

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Catherine Graham and with that welcome back to leaders a podcast dedicated exploring the best leaders this world has ever seen

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Certainly a memorable moment moment described in that

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initial

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story there

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one in which

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She as the leader of the Washington Post is faced with a crucial and

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very important and very difficult decision as to

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to succumb to what the government was asking of her are really

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stand behind the principles and what she believed in and make a bold move in

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going against what conventional

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nature and what most people would probably decide in that sort of decision and

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that I think in of itself speaks to

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the tough decisions that these leaders that we've studied have in a day and day out basis at seminal moments in their career and

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largely what illustrates their leadership qualities and principles are in times where it is the difficult area of which

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you have to make a tough decision not everything is handed to you not every decision is easy and so in these times where

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you're making those tough decisions having conviction

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confidence in

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your beliefs your principles and your vision

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really stands out from the leadership qualities standpoint

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So this is one example and we will go into further detail as far as why Catherine Graham is considered one of the

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great female leaders

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of the business world

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past or present as she really stands out as being the first 20th century female publisher of a major American newspaper and the first

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women woman elected to the board of the associated press

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she also became the first ever female CEO of a fortune

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500 company

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when it came to Washington the Washington Post where she

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became the publisher and just to outline her career a little bit before going more into her leadership qualities what made her unique

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she became the publisher of the Washington Post in 1963 a

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certainly unique circumstances that led her into becoming the lead there

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really the sudden death of her husband at the time Philip Graham

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thrust her into that role of publisher

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really a pivotal moment in her career she took the reins of that major

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newspaper despite having little prior experience in the industry and we will

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highlight that within the leadership section as far as how she learned quickly

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of one who

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I would say contrast with some of the other leaders that we've studied in that she didn't have the formal education the executive MBA

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the past leadership from a experience standpoint so

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she really learned all that on the job and it really marked her beginning of the journey to transform Washington Post into one of the most respected and influential

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newspapers in the country the Pentagon papers

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was a also a big moment in her career in that 1971

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beginning story we described the Watergate scandal on top of that

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1972 to 1974 they had relentless coverage of that scandal led by

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journalist Bob Woodward and Karl Bernstein under the guidance of editor Ben Bradley

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the investigated reporting exposed the corruption and cover up within the Nixon administration ultimately leading to his resignation impeachment

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Catherine Grant

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steadfast support of the reporting team and her willingness to stand by the truth in the face of immense pressure

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solidified the post reputation as a bastion of investigative journalism

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The Washington Post does go public in 1971 and she made that bold decision to take them public

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and the move really helped secure the financial future of the company allowing for future expansion

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investment into the journalism field

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expansion and diversification so under her leadership they expanded their roots acquired newsweek magazine in 1961

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continued to diversify into cable television through the acquisition of TV stations and the creation of cable systems

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education and other ventures

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and that diversification helped to solidify the company's position and insured its continued success

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She did receive the police apprise for public service in 1973

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for the coverage of the Watergate scandal so that further recognition was a testament to her commitment and the role in

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covering the truth

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She did there was a

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autobiography personal history of which largely the content of this episode will rely on

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1997 it was published her autobiography

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She can't really shares

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both her personal and professional journey. It's a longer

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book that details and be behind the scenes look at the challenges she faced her growth as a leader

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and her reflections on the evolving landscape of

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journalism remains a valuable resource for those interested in her life and history of the American of the Washington post and so

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Let's transition now into more of that leadership style so

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she didn't really as we said and she was kind of thrust into that role of publisher

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She didn't come in knowing much about business

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She had passion and commitment qualities that she leveraged in

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addition to had to really learn things by doing them versus having inherent

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leadership qualities that she came in with and was able to

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lead the company right away with

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So a different approach and style

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then were used to seeing with some of the established

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CEOs and business leaders that we've studied here

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She also says that she had to overcome what she termed the female baggage

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including feelings of an inadequacy

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Attendancy to dwell on her own mistakes in decisiveness and a constant desire to please others

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That she brought to the job

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She says the journey is one of the most personal transformation where she went from being a reluctant and inexperience leader

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to being a tremendously successful and respected leader

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So we've seen this within leaders before where there is a transformation of they are not born into being great leaders over time

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They sort of learn that and over their careers are transformed by the person on day one that they come into the CEO

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seat with is not the same person that they leave the company

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with and so she did this by assembling a great team

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So she is very pragmatic in assessing her limitations and she knew she was inexperienced

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She also knew that she didn't have support of the current team at the company. She understood

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The value and the need to build a strong team so she began with bringing Ben Bradley as a chief editor

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That's started the process of recreating the team that believed in her vision and were motivated to succeed

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So building a strong culture with high journalistic integrity was part of that

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Omborning exceptional advisors to help her plan long-term goals as well

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And then based on her own career she does she did offer five personal qualities that are essential for enduring leadership

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one strong personal values

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self-confidence

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Courage and tolerance in the face of failures the ability to

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Delegate to the right people and the willingness to make changes when changes are necessary

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Finally she added caring about and loving what you do for a living will make you feel like the luckiest

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person in the world

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She certainly

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It was a humble leader, but humble yet firm

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Her dedication to journalistic standards led her to make risky decisions

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Made the post into a renowned and respected newspaper

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She used that power wisely in a 1973 interview with W

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She said I don't flinch at power the way I used to if power is there to be used

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It is used whether you abdicate it or whether you use it

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You have to remember that you can do as much damage by abdicating it by using it in the wisest way you know

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So her those weaknesses could also be strengths though

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So her lack of authority and her reliance on the opinions of those around her

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Might have undercut her leadership skills, but they had an important side effect

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She was a great listener who knew how to take sound advice

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Good example of this is Graham's relationship with one of her most important financial advisors after the Watergate scandal

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A large part of Graham's success was based on her values based leadership style

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the

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Leadership qualities that she utilized the most we will list off a few here so self-awareness

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Aware of her abilities, but also her limitations knowing when to ask for help surrounding herself with supportive mentors

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Graham was able to learn quickly and get assistance in the areas she needed

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Compassion and empathy she was known for being compassionate and empathetic both in her business and her personal life

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That trait helped create valuable relationships and inspired devotion to her as a leader

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toughness

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So she relied on both mental and spiritual toughness to make hard decisions her strong backbone and her ability to fight for her beliefs

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Help steer the company through many difficult challenges

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Embracing leadership as a learning opportunity was another from the day she entered her role

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She was always learning a curious

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Intelligent nature allowed her to get up to speed in a short amount of time and continue learning

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She was definitely we talk hands-on versus hands-off leadership styles

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Many of the 30 leaders that we've studied before summer hands-on summer hands-off

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Graham certainly fits into the hands-on leadership standpoint

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She was an accessible leader who often spent time in the newsroom with her reporters

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Understood the work they did and on occasion she even contributed story tips

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personal involvement at all levels of the organization created a mutual level of respect that helped the paper thrive and

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Then support for employees during the increased government pressure at the time of the Pentagon papers in Watergate

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She never never abandoned her reporters or publisher as a real leader

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She knew as her responsibility to support her team, especially when times were tough

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Also followed core convictions so she made difficult decisions throughout her career, but she always followed those core convictions

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Following her heart she could stand behind the outcomes of her choices no matter the cost

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She did have courage and resilience

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Definitely within that face of adversity

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Not afraid to take those risks

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Resilience was also emphasized during those challenging times

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also

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Had a vision and a strategy so

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She was a visionary leader who had a clear sense of where she really wanted to take the post

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played a pivotal role in their growth and expansion implementing those strategic initiatives that we said of

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Making the post not only just a newspaper, but but more

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She definitely had an empowering leadership style as well, so she

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Empowered those around her surrounded herself with talented individuals and trusted them to do their jobs effectively

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This inclusive leadership style

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definitely fostered a culture of innovation and excellence at the post

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At this time too in the 70s late 60s she was really navigating the male dominated world

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So she faced numerous challenges with that the book

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Persona history really explored how she navigated those obstacles with grace and determination

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Eventually earning the respect of her peers and becoming a role model for women in leadership

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She's really a

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all these different I think

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qualities leadership styles of how she led the post really is

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culminated by a characterizing her I think as a trailblazing leader who left an indelible mark on American journalism

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that leadership style

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characterized by courage, vision, integrity and empowerment

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Continues to serve as inspiration to leaders across many fields even today and so

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That covers off on a lot of what her leadership style entailed

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Throughout this challenge these challenges though there were definitely

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Failures and other challenges along the way that she encountered that we

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want to ensure that we

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discuss here as well as as we know the successes that we highlight in terms of a leadership

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Lessons and and style and quality you could also learn a lot from the failures and how these leaders deal with them too

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so inherited leadership so

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She had the unexpected death of her husband and he died by suicide in 1963

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So it left her as the unexpected air certainly wasn't

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Planning to step into leadership at the post she did also had that little experience and running a major newspaper

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Really had to quickly learn the ropes of the industry

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She definitely struggled with personal insecurities at this time too so self-doubt and securities

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Often felt inadequate compared to the powerful men in the industry had to overcome those who really assert her

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Self as a capable leader

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Financial struggles too so the post was facing financial difficulties when she took over

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She really had to navigate the newspaper through challenging economic times making tough decisions to keep

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the business afloat

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Again in the male dominated industry she did face significant gender discrimination

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often underestimated face challenges in gaining respect from male colleagues and peers

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Challenges in the newsroom so implementing changes in modernizing the newsroom was met with resistance

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From some long-time staff members

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Graham had to balance the need for innovation and progress with the traditions of the newspaper

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legal battles so in

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with the Watergate scandal and

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putting on papers

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That was also lots of legal challenges threats from the index administration of the government

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A pivotal moment for the newspaper who had to navigate those while upholding those principles of the free press

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So a few different failures and challenges certainly

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The outcome of her leadership

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was probably very rare just considering the circumstances and what she had to step into

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So it speaks to the effectiveness of her leadership throughout that time to be able to navigate it and then to also succeed and have the post

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succeed

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During that time was fairly impressive

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and so

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Let's step into the last section here where we go into a few different key mentors and heroes that she had and

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Let's first start off with her father Eugene mayor

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Was perhaps her first and most enduring mentor

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He was a successful businessman financier and public official who purchased the post in

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1933

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So he instilled within Catherine a strong work ethic a sense of civic duty and a passion for journalism

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His guidance and example laid the foundation for Graham's future leadership of the newspaper

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Phil Graham so that was Catherine's husband served as a mentoring in many ways as well

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So he was the publisher of the post before her she he introduced

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Catherine to the inner workings in the newspaper business provided guidance on its operations

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The son death again marked a turning point for her

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Thrusting her into that role of publisher forcing her to rely on the knowledge and insights

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She had gained from him

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Ben Bradley was the executive editor of the post during its most turbulent and transformative years

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He was a crucial mentor and ally to Graham

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He was known for his charismatic leadership and unwavering commitment to investigative journalism

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Working closely with Graham during pivotal moments

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Such as the Pentagon papers and Watergate scandal his guidance editorial expertise and friendship were instrumental in solidifying her leadership

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And the newspapers reputation for fearless reporting

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She did also get some help from friends such as feminist glorious dynam

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An investor Warren Buffett who was a major post shareholder

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We'll go more into Buffett and his role in Catherine Graham

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Graham also gained personal confidence and management skills that enabled her to

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Build the post company into a highly diversified and financially successful business

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Warren Buffett being the main mentor helping her with the in-r- her in-roads

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Of insecurities helping her to navigate that

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Buffett also provided

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Financial guidance so he obviously is a big expert in investing in finance

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So he provided that to Graham and the post company when the company faced financial challenges

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He offered some advice on managing its finances

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Making strategic investments and navigating the complexities of the stock market

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Encouragement and confidence to Buffett provided

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He believed in the value and potential of the post as a source of encouragement for her

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He saw the strength of their assets including its flagship newspaper and believed in its long-term prospects

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He also had stewardship of investments. So Berkshire Hathaway became a major investor in the Washington post company

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Holding a significant stake in their stock

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That investment not only provided financial support but also signaled his confidence in her leadership and the future of the company

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Strategic advice so he offered some on various aspects of running a successful business

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His insights into management corporate governance long-term planning weren't invaluable to Graham as she still the steer the company

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Through challenges and opportunities

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Friendship and support at its core so beyond that business realm with which he

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focuses on tremendously

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Buffett and Graham developed a close friendship Buffett was someone Graham could confide in seek advice from and share personal and

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professional challenges with

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His support was a constant throughout their relationship

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And finally legacy and succession planning so as grown Graham approached retirement age

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Buffett played a role in discussions about the future of the post

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He offered guidance on succession planning and the transition of leadership to ensure

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that the company had continued success

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So Warren

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Buffett was definitely an instrumental mentor to Katherine Graham

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during the time helping her to provide

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to get

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critical business advice

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and

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lessons and

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be

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therefore her

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during this time so a tremendous mentor

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one that we will end this episode with so

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To recap

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Katherine Graham here covered on episode 30

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certainly a very unique

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female CEO of her time of being the first one of a fortune 500 company

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one who exhibited tremendous values-based leadership styling

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empowering

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employees

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making them feel

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valued and

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certainly self-aware

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knowing what her strengths and weaknesses are maybe you want to arguably her best qualities in that

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a lot of other leaders may

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just try and not accept that they don't know everything that they can't acknowledge their weaknesses versus

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she

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very

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wisely i think acknowledge that and got

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different mentors and people to help her

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steer the company in the right direction and really leave a great legacy behind

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So with that Katherine Graham episode 30

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and

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hopefully we will see you back here soon for episode 31

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Thanks for listening.

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