There is a great deal of talk about why the U.S. stimulus has not worked. Obama’s mistake was being too cautious in fearful times, writes columnist Martin Wolf in yesterday’s Financial Times. Wolf, who wanted a much bigger stimulus, glosses over an observation he made on February 4, 2009: “Instead of an overwhelming fiscal stimulus, what is emerging is too small, too wasteful and too ill-focused.”
It is the element of waste and spending without focus that especially annoyed the American public, long before there was any reason to think that the stimulus would not work. For Congress to have a blank check in the amount of almost $800 billion was leadership naivety at best, and malpractice at worst. In reality, the wasteful and thoughtless spending had to dilute the impact of the billions poured into the economy. Continue reading…
Harnessing business opportunities requires creative thinking. Apple, Google and others are successful in today’s economic environment because they are developing products and solutions that people want. Medical researchers are making advances because they are doing what has never done before.
Creative ideas do not emerge in organizations where only a few senior people have all the ideas and everyone else just executes them. Honing diverse opinions into a coherent, executable strategy takes a supportive culture, employees with a specific set of skills, and leaders who inspire the best from people. Continue reading…
A post on BNET by Jo Owens, July 26 lays out the 7 qualities you don’t learn from the leadership gurus. At and near the top of the list are sleeping on planes, working in vehicles, dieting, and working the politics. Yet there are other things that are far more important to success. Let me propose an alternative list, starting with being creative.
1. Teach yourself to be creative. Perhaps creativity is in a person’s DNA, but I truly believe this is something that is learned and nurtured. Ask questions: What if we did it this way? Have we gotten to the root cause of a problem? Is our product working? What would happen if we took a different approach or direction? Seek out news and solutions from other industries and markets. Creativity is important in all industries, even financial services. I’m looking for the next wave of new financial products and structural changes that will generate better returns in a “new” economy with much tigher regulations.
2. Learn how to curate the best ideas, remix and make it your own. Continue reading…
What’s the biggest shortcoming a leader can have? My vote is compromised integrity. If an executive wants to enjoy continuing credibility in his or her position, he needs to pursue the truth and confront the truth in everything he does. Dishonesty, misrepresentation, and cherry picking the facts to make an argument are all unacceptable conduct. Too often, leaders stretch or alter the truth to achieve a bigger goal. At the end of the day, perhaps every day, they are Machiavellian.
I was extremely disappointed that Mark Hurd, one of the most highly-regarded CEOs in industry, had to step aside for lapses in behavioral conduct and judgment. His departure was a shock to investors, costing HP $10 billion in market cap on Friday afternoon. Few analysts questioned Hurd’s extraordinary performance. Continue reading…
Yesterday I formally announced the results of our survey on leadership and careers in a business world that is radically changing. A wake-up call for executives, these findings show that only those companies focusing on great performance and the best use of talent will thrive in the current environment.
Virtually every leader can take more aggressive steps to grow their companies, innovate, and engage their staffs. Leaders need to be more than inspiring – encouraging business and functional reinvention, purposeful collaboration, and new ways to engage with their customers.
Methodology
Through a confidential questionnaire, over 320 leaders and managers evaluated the extent to which members of their leadership team are successfully taking specific actions, such as launching bold new strategies for growth. Respondents were asked to evaluate factors that affect their personal career satisfaction, growth, and marketability, the future of their company or industry, as well as their own leadership effectiveness. A final section focused on attitudes about the contributions of Gen Y, i.e. the Millennials.
Political pundits have focused much attention lately on the divergent opinions of the Obama Afghanistan policy-setting team. In analyzing the Administration’s performance, commentators have raised many questions. Is there a coherent Afghanistan strategy? Is the team on the same page? Does Obama want different points of view? Can the U.S. secure the support of our NATO allies, the Karzai government, Afghani tribal heads, et al? Will other team members be fired?
For business leaders, this debate highlights a management challenge. While there are factual differences between this foreign policy situation and those that corporate executives confront, the fundamental question remains the same: how to harness divergent points of view to create a coherent, executable strategy. To paraphrase Hillary Clinton’s 2000 Senate campaign, the neighborhood is new, not the issues.
History, both world and economic, can teach us about how to, and not to, use differing points of view to hone an implementable action plan for a team. Continue reading…
CNN host Jack Cafferty asked his audience, “Do you feel as patriotic as you used to.” The reactions reflect the frustrations of a nation that loves America and demands effective leadership. In a crisis environment, the rough edges of our system gnaw at the public’s sensibilities. At the heart of this unrest is a simple fact: we want strong leaders; instead, we have politicians.
Responses to Cafferty’s question are telling, among them: “We love the country but are frustrated by Washington’s politicians. The place is a basket case and I’m furious.” “I feel America is bankrupt, absent in ethics and care for its citizens’ well-being.” “I feel we are totally bankrupt of effective leadership at the levels of our government where it is most needed.” Continue reading…
Robert W. Selander, CEO of MasterCard will retire from his job on July 1. By all accounts, MasterCard has done very well under Mr. Selander’s tutelage. He transformed and grew the company. In 2006, MasterCard sold for $39 in its initial public offering. It closed at $218 on June 25.
Don’t let the veneer distract you from the substance, Selander tells New York Times reporter Adam Bryant in an interview published on June 25. “It is too easy to let the person with great presentation or language skills buffalo you into thinking that they are better or more knowledgeable than someone else who might not necessarily have that particular set of skills.”
This CEO looks for leadership and results in any senior hire. He probes for presence, which he defines as “knowing what to communicate, and how.” ”I think you can be a good communicator and you still may not have presence,” Selander says.
See full article for insights, advice, and interview questions.
Reinventing Leadership and Management is a paper in the Ivey Journal that caught my eye. Author Mitch McCrimmon argues that “leadership hogs the lion’s share of the responsibility and credit for driving organizational success,” leaving management with little to do. [Really?]
McCrimmon says that leadership is different from management: leadership promotes new directions – management executes existing directions. He then asserts that leadership is a function which shifts from one person to another. Everyone engages in some management and leadership, regardless of role. ”Companies need to slim leadership down, management must be given more to do. This calls for a major upgrade, making management a more proactive, positive force in organizations.”
I see that happening now. In truth, it takes more than a bit of leadership to excel in any job. Continue reading…