The 5 C's of leadership

I have just had an enjoyable evening at the first MAG-net City event of 2014. The main talk of the night was given by Benny Higgins, CEO of Tesco Bank. In this how explained his vision and pride that was not just another bank doing what the rest do but one where decisions were based on what was right for the customer, something learned from Sir Terry Leahy, the then CEO of Tesco's the retailer.

What I found interesting was the framework he laid down for effective leadership. This was what I will call the 5 C's.

• Competency
• Curiosity
• Creativity
• Communication; and
• Courage

Competency related to the skills and knowledge for the particular role. He spoke about the fashion to look for transferable skills from another industry, but advocated that leaders should know the business they are in, putting. Job they lack the competence for is a recipe for disaster.

Curiosity was about not only an interest to look at new things, but to be able to assess, prioritise and act upon what has been found.

Creativity was about doing the right thing, stirring things up when they are calm and calming things down when they are manic.

Communication is about the ability to listen rather than shout. To understand and be understood, something that is needed every day in so many ways.

Lastly courage was about being ready and able to make the decisions that are needed, big and small.

Benny is clearly proud of what he has achieved with Tesco Bank and excited about what he is still building. I wonder how many other "leaders" in banking can come cross as well and if they would stand up to the 5 C scrutiny?