Marc Tessier-Lavigne, the 11th president of Stanford University, explains how great leaders begin by focusing on people and teams in an organization. Have a high bar when recruiting, set people up for success, play to their strengths and help them improve in areas where they need it. Build team spirit through communication, and establish a culture of mutual respect, he says.

Stanford University President Marc Tessier-Lavigne shares a few strategies for how to increase the likelihood of making good decisions when there's no "right" answer: turn to the best minds on your team and be rigorous when weighing different ideas. He warns against paralysis by indecision and says to always provide a clear rationale, as well as be prepared to course correct if you're wrong.

Leadership rests on knowing your values and those guiding your organization, according to Stanford University President Marc Tessier-Lavigne. He talks about how his values are organized under three categories: personal, interpersonal and actions. For the latter, he lists optimism, initiative and tenacity. "Nothing important in the world gets done easily," he says.

Stanford University President Marc Tessier-Lavigne discusses the similarities between leading large organizations in the private sector and in higher education. Whether at biopharmaceutical giant Genentech, where he was executive vice president for research, or in the academic setting, he says the job boils down to talent management - hiring great people and enabling them to do their best work.

Drawing from his leadership experiences in industry, Stanford University President Marc Tessier-Lavigne explains how bureaucracy can stifle entrepreneurial fervor in large organizations. He gives an example from his time at Genentech, where meetings needed to have a clear goal and decision-maker. He also points to the importance of maintaining a culture of discovery and publication.

Stanford University President Marc Tessier-Lavigne talks about ways to quench a desire to make a social impact in the world. Bring a "spirit of service" to whatever you do, and appreciate that any form of work can be mission driven and contribute to solutions, he says. He also suggests volunteering as time permits or committing to a cause completely at some point in the future. "Life is long and lived in chapters," Tessier-Lavigne explains.