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LEADERSHIP: RECESSION BUT NO DEPRESSION
published: 2008-12-21
Times are tough - economically, but also psychologically. Calls to a national executive counselling service are up 25% year-on-year, according to a report I read today. And, training and development budgets are getting the chop. We're all under pressure: to maintain business performance, cut costs and hold our jobs. There’s no easy answer, but being smart beats being depressed.
LEADERSHIP: TWILIGHT OF THE GODS
published: 2009-03-09
Richard Wagner's Ring Cycle ends with Valhalla, the lofty abode of the gods, collapsing in flames into the rising tide of the River Rhine below. And the stolen gold, whose theft triggered the gods' downfall, sinks beneath the flood back into the hands of its rightful owners, the Rhine Maidens. It takes 15 hours (and four operas) to tell this story. And, it's all rather reminiscent of the recent boom and bust of the global financial system. Pride, dishonesty and rejection of basic good sense. So, how in our new and darker world of business leadership should we all behave?
LEADERSHIP: KEEPING H.R. AT THE TOP TABLE
published: 2009-03-02
Let’s start with two anecdotes. First: I was recently talking with a client, with whom I’ve done business strategy work and who’s keen to try our Leadership Action Planning tool for himself and his team. Notwithstanding current conditions, their business is growing and profitable. It’s well-run and operates in an online retail space that’s gaining market share. But, he’s initiated cautionary cost-cutting; and, is wary of starting a leadership program at this time, even though he recognises its merit and its relative cheapness (given it’s also online).
LEADERSHIP: AVOID NEW YEAR'S IRRESOLUTION
published: 2009-01-19
Every year's different. But, 2009 looks like being really different. For many, the most challenging year ever. So, let's cut to the chase: as you return to work, which of your stakeholders is most frightened - in relation to their dealings with you and your business? Is it customers, employees, suppliers or, perhaps, your bankers? And, what are you going to do to ensure they don't abandon you?
LEADERSHIP: BEAT THE BUST
published: 2008-10-28
The Sage of Omaha, Warren Buffett, says the downturn is going to be both deep and long. Global central banks have caught the falling knife of financial collapse. But, there's blood (and shredded reputations) on the floor. And now, the real economy is in for a bad time. Customers are already delaying purchases; banks are loathe to lend - even to good businesses; and, no-one knows what the next fright will be.
LEADERSHIP: AND, THE OBAMA CABINET
published: 2008-11-30
As President-elect, three of Barack Obama's earliest appointments have been: Treasury secretary (Timothy Geithner); Director, National Economic Council (Lawrence Summers); and Director, Council of Economic Advisers (Christina Romer) . Why these roles, and why so quickly?
LEADERSHIP: SHARP TOOLS FOR HARD TIMES
published: 2008-12-07
What's the leadership equivalent of reaching for your Swiss Army Knife, and selecting the right blade? It's creating a plan, and populating it with appropriate leadership actions. Actions relevant to current challenges, not old ones. Actions that convince people and build commitment. Things that work, giving traction in this tough new environment.
LEADERSHIP: YOUR FISCAL STIMULUS
published: 2009-02-02
Whether you're President Obama or the leader of China, France or any other country, you’re currently struggling to craft or manage a stimulus package that’s both effective and efficient. Effective in creating growth and jobs; efficient in doing so without waste. There’s no point giving money that isn’t spent, gets into the wrong hands or takes years to impact. OK, but what about your personal stimulus package? In these times of retrenchments and cut-throat competition, what are you doing (and investing) to grow as a leader and keep your job?
LEADERSHIP: LIFT YOUR GAME OR LOSE YOUR JOB
published: 2009-02-09
Do the math. Ericsson, Microsoft, UBS and BHP (to mention just four global companies) are each retrenching thousands of workers. Unemployment in New York is rising at the "fastest pace on record". Job losses in Singapore may "triple in 2009". Small businesses are closing in every Main Street. Across the globe, millions of people are losing their jobs. And, for every ten workers, one leadership position disappears as well. So, what are you doing to be sure you're not the next leader without a role?
LEADERSHIP: WHAT'S YOUR PLAN?
published: 2009-02-23
High (often unreasonable) expectations await newly appointed presidents - whether taking the helm of a company or a country. For President Obama, this is multiplied manyfold. His personal story, and the dreams it creates for others, breaks hugely with the past. And, he steps up in the face of challenges of hurricane proportions. How will he go? Sadly, if his current economic and financial initiatives fail, the dreams of many may end almost before they're born. So, let's take stock of your leadership (of your team, project or business): how difficult are things going forward? And, what the hell are you doing about them?
LEADERSHIP: HAS GEITHNER GAGGED?
published: 2009-03-16
The US Treasury Secretary, Timothy Geithner, hasn't asked my advice. But, he looks as though he needs some. He's like a stalled driver on a railway crossing and the runaway financial express is already on top of him. His lack of resolve is worrying both Americans and investors across the world. Obama's land of "hope" and "yes, we can" is at risk of becoming a desert of "nope". Many CFOs (and their CEOs) face similar challenges - albeit smaller. So, how are you going? Perhaps this advice may be of help to you as well!
LEADERSHIP: OF MID-LEVEL AND FRONT-LINE TEAMS
published: 2009-06-15
Team leaders split their time between "leading" and "doing". But daily pressures (particularly now) drag leaders towards the latter: getting things delivered, resolving technical challenges, responding to HO demands, and keeping the admin. flowing. Too often, they stop leading; and, become managers at best or merely operatives at worst. Sounds familiar?
LEADERSHIP: AVENGING ANGELS OR GADARENE SWINE
published: 2009-03-30
Dramatic economic downturns inflict pain both widely and deeply. People lose their jobs, homes and self-worth. No wonder they join in seeking scapegoats. Tearing into Bernard (Ponzi) Madoff in America or Fred (the Shred) Goodwin in Europe deflects our own pain. But, as a leader, how much time do you spend reviewing your own responsibility for what you've experienced recently - for your own organisational and systemic failures?
LEADERSHIP: G20, GEE PLENTY
published: 2009-04-08
Committees are often the worst way to get things done. Particularly in nervous times. And, the pre-G20 vibes were net nervous. There was positive energy (particularly from Barack Obama) about working together to restore financial and economic vitality. But, from others, finger-pointing - for example, at bankers and, more generally, those with "blue eyes". And, insistence (from Nicolas Sarkozy) that it would be his solution or none - with a walk-out threatened for good measure. And, as always, cries for legislation and regulation - noisily slamming stable doors after the credits have bolted. Sadly, it's often no different in business. When things go bad, there can be a rush to blaming - and backside covering. Also, pushing personal solutions. So, how have you and your people behaved in the downturn?
LEADERSHIP: IN DRASTIC ECONOMIC TIMES
published: 2009-05-18
Let's start with two fundamentals. First, what's the only thing a leader must have? Yes, followers! People willing and committed to do what's needed. Second, how are people feeling these days? Happy and assured? Not the ones I know. More like: frightened for their jobs; concerned about mortgages; worried for parents about to retire. So, how do you need to lead, if you want these people to follow?
LEADERSHIP: A QUICK COVER-UP
published: 2009-04-20
Warren Buffett famously quipped that it's not until the tide goes out you find who's been swimming naked. He was referring to financial risk-takers. But, he might as well be talking about leaders. With the tide rising, we all look fine. But with the lake sucked dry, we may be caught. So, as you stand in front of your team today, do they see you clad - or threadbare? Are there holes where it's better to be covered?
LEADERSHIP: MULTI-TASKING THROUGH THE DOWNTURN
published: 2009-06-01
Hands up anyone who wants to be a business leader today! No-one? I'm not surprised. If you run a big organisation (particularly in financial services), you're clearly a crook. If it's a small business, the banks won't roll your loans. And in between, you're still a dirty capitalist; and, surrounded by staff fearful for their jobs; and, with customers who've probably already opened the window and jumped. So, what's your leadership strategy going to be?
LEADERSHIP: LOVE IN A COLD CLIMATE
published: 2009-06-08
Nancy Mitford's novel ("Love in a Cold Climate" - dealing with British high society after the Second World War) is not serious reading. But its title is apt for one of today's most serious leadership issues: making staff feel valued and cared for. So, what have you been doing? If asked, would your people report feeling important to the future of your business? Would they say you care about their well-being and challenges - at work and in their personal lives?
LEADERSHIP: HOW SERIOUS ARE YOU?
published: 2009-06-29
In the years before his conversion to Christianity, St Augustine of Hippo is quoted as having prayed: please make me virtuous but not yet. Similarly, many of us want to be better leaders but won't invest the effort and energy necessary to shift how we operate. So, let's check other areas in which we've all changed in recent years - and contrast these with how (if at all) we've upgraded how we lead those we rely on for the success of our projects.
LEADERSHIP: FOR SURVIVAL AND BEYOND
published: 2009-07-13
Apart from the paramedics, surgeons and undertakers of the business world, the rest of us are struggling. Only bankruptcy specialists and their like are thriving. Sadly, I'm not one of them. So, I keep fighting; but, I also focus on life beyond the slump. Why? Because we can all learn something from people who've survived gulags and similar camps. The secret is not strength or youth, but vision of a different and better future. So, would your staff say you think beyond surviving the current quarter? And, even if they're impressed with your "fire-fighting", do they sense you're leading them somewhere worth going in the future? From recent discussions, here are some pointers I've heard for leaders to consider.
LEADERSHIP: LESSONS FROM TIANANMEN SQUARE
published: 2009-07-06
Most of us would rate the Chinese Communist Party as both tough and inflexible. And, we'd be right about tough. But, wrong about inflexible. Reflecting on the twentieth anniversary of the Tiananmen Square massacre, here are some quotes from the May 30th edition of The Economist. "After the massacre, the Communist Party set about transforming itself." And, today, "the outcome is a wholesale reinvention." If colleagues reviewed your leadership over the last two decades, would they report "wholesale reinvention"? Or, more of the same? And, if the Chinese Communist Party can change so radically, what can you learn from it?
LEADERSHIP: DON'T WAIT FOR THE MUSIC TO STOP
published: 2009-09-14
How's this? Eighty percent of CEOs expect big changes in their companies' strategies and operations this year! In a calamitous downturn (trashing markets and businesses), people expect organisational change. Well, I'd be concerned if they didn't! The same report also worries about succession. Two thirds of candidates won't be ready for 12 or more months. But, one third being ready seems OK to me. Surely, the real issue is raising performance of all leaders - NOW and in their current jobs. Not playing musical chairs! So, what's your plan - other than waiting for the music to stop? Here are some thoughts.
LEADERSHIP: FOR BOTH NOW AND LATER
published: 2009-09-21
Bad times are tough for everyone. Fewer sales, lower margins, cancelled contracts - and, yes, lay-offs. We're each under pressure - trying to find new customers, offer extra service, get bills paid, cut costs. In sum, improving our effectiveness (in achieving goals) and our efficiency (in delivering them). Doing more and doing it better - but with less! This is true whether we're an engineer, front-line salesperson or work in the canteen. But, it's doubly true for leaders. You have to inspire and motivate people more than ever. You've got to be a leader for today and tomorrow - not yesterday. Which are you? Here's how you can find out.
LEADERSHIP: BEING UPBEAT IS A CHOICE
published: 2009-10-12
"Today, it's all about confidence" is a comment I heard this week from a friend, who runs an industry association. And, he's right. More than ever, leadership is about having the courage to drive for success. Market signals are ambiguous. So, people's conclusions are driven by personal bias. Bears are super-bearish, and seeking a cave for the economic winter. While optimists see early signs of growth and are leading their cattle out to the new pasture. So, how would your team label you: an optimist or a pessimist? Are you seeking a cave or stepping out? And, if it's a question of attitude, what can you do?
LEADERSHIP: KEEPING H.R. AT THE TOP TABLE
published: 2008-01-01
Let’s start with two anecdotes. First: I was recently talking with a client, with whom I’ve done business strategy work and who’s keen to try our Leadership Action Planning tool for himself and his team. Notwithstanding current conditions, their business is growing and profitable. It’s well-run and operates in an online retail space that’s gaining market share. But, he’s initiated cautionary cost-cutting; and, is wary of starting a leadership program at this time, even though he recognises its merit and its relative cheapness (given it’s also online).
LEADERSHIP: WHY WAS GOLDMAN SACHS SO STUPID?
published: 2010-04-19
There have been two volcanoes in the news recently: one spewing ash into the air over Iceland and much of Europe; the other igniting a potential fire-storm of banking regulation and litigation in the US and elsewhere. The first warns of nature’s unparalleled power; the second of man’s repetitive stupidity. The Goldman case is commercially extreme – in scale and implications. However, as leaders, we daily face moral questions: does this customer deserve her money back – regardless of the fine print? Given what I know, must I retrench my biggest-selling salesman? Are the representations I’m making about this product true? By a career of such decisions, we build our image and brand – as a company and as a leader. If I polled your staff and customers, how would they rate you on honesty and integrity? For some of us, particularly a few of the very, very smart, this is the biggest (and most dangerous) blind spot of all. Let’s explore this a bit further.
LEADERSHIP: AVOIDING BLACK-SWAN DISEASE
published: 2010-07-26
Nassim Nicholas Taleb, the best-selling economist and author of The Black Swan, is famous for his arresting insights. His recent postscript to The Black Swan is no exception: presenting ten lessons from the Global Financial Crisis. Above all, he recommends learning from “Mother Nature” – by making our global financial system more robust via a series of simple but dramatic changes to our thinking and policies. However, his lessons apply way beyond finance and I’m going to apply some of them to leadership. How do you think colleagues would rate you on the issues below?