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==Arts Patronage==

Reed is a noted donor to the Royal Ballet and a ballet enthusiast. "Ballet is my passion," he wrote in his autobiography "I Love Mondays" where he also reports donating £100,000 to the Royal Opera House. Reed also invested in noted English choreographer Matthew Bourne's original ballets "Picture of Dorian Gray" and "Cinderella," making a 50 per cent profit on the former production which enabled a larger investment in the latter. Bourne's "Cinderella" is notable for setting the classic story during World War II and transforming the prince of the traditional fairy tale into an injured RAF pilot. The ballet played to full houses at Sadler's Wells Theatre. Reed has described Bourne as "a creative genius". In his autobiography Reed expresses interest in moving The Royal Ballet from its current home at the the Royal Opera House "into a Coliseum in St. Martin's Lane" though he calls this ambition "probably a pipe dream".

Reed is also a keen amateur painter with a particular focus on portraits. Painting "particularly helped me get through chemotherapy after my second run-in with cancer," he states in his autobiography. He studied with portrait painter Ken Payne and at the Heatherley School of Fine Art. Reed won a national prize for those over sixty years old for his portrait The Hat, in which he is portrayed wearing a trilby. He collected the honor at the House of Lords. He credits his wife Adrianne as being responsible for his knowledge of and interest in the arts.

Teaching
Reed became a member of the governing council of Royal Holloway, University of London, in 1979, subsequently becoming the chairman of the college's finance committee. After the formation of the Royal Holloway School of Management in 1990, Reed recruited high-profile guest speakers, donated to the library, and developed and taught an interactive entrepreneurship course for undergraduates at the school called LIES (Leadership, Innovation and Enterprise Studies).

The course was designed around real-life business scenarios, student participation, and role plays, including exercises such as a mock board meeting, as well as frequent guest speakers. LIES was the Management School's most popular course for six years. Reed's stated goal for the course was to "give undergraduates a sense of what real business life was like," as well as to nurture what he calls "the Seven Cs in students". These "Seven Cs," or key social skills for business success, are "the ability to Communicate and Cooperate with others. Creativity and Charm. A Competitive spirit and a moral sense of Citizenship. And in today's workplace the ability to use a Computer." Later, Reed helped set up a similar course called BABE (BA in Business Enterprise) at Guildhall University, which later became Metropolitan College London, though he did not himself teach the course. Reed has written about the enjoyment he got out of his teaching, saying that "teaching lively young minds was a fabulous experience".

In his autobiography Reed also explains that his experience as a teacher inspired him to write his book, "Capitalism Is Dead; Peoplism Rules - Creating Success Out of Corporate Chaos". The book argues that "we have to create a learning culture in our businesses because skills and creativity have become so much more important to them than just mere capital". Reed carried this focus on hiring and then developing talented staff over to the employment agency he founded, Reed, as well, introducing IQ and psychometric testing for candidates and investing in training for staff, many of whom are hired as graduates and trained within the organization. Reed also pays 100 per cent of vocational and half of non-vocational training costs for its employees.