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LEADERSHIP: AVOIDING BLACK-SWAN DISEASE

published:2010-07-26 01:00:00

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

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LEADERSHIP: FOR SUCCESS – AND HAPPINESS

published:2010-07-19 01:00:00

Like Professor Clayton Christensen, I’ve faced a life threatening cancer and found it a crucible for clarifying my thinking about what’s important. The day

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LEADERSHIP: TRAINING AND DEVELOPMENT - BUT HOW?

published:2010-07-13 01:00:00

Due to a backlog of new registrations to work through this Potshot has been delayed by a day. Our apology to our regular readers

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LEADERSHIP: THAT ONE KEY LESSON

published:2010-07-07 01:00:00

How do you rate yourself on the following five actions? Showing self-awareness?. Demonstrating authenticity, integrity and compassion? Understanding and engaging people as

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LEADERSHIP: HOW SERIOUS ARE YOU?

Summon commitment, courage and self-directed action to move beyond your comfort zone
Beware of losing team and colleague support from sticking with outmoded and easy ways

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.

List the two or three most important changes you've made (in recent years) to your business's products, services and processes - driven by the following:
  1. Competition.  Where and how have you upgraded quality, functionality, delivery times or pricing to match what others are offering - or to stay ahead?
  2. Technology.  What steps have you taken to embed digital capabilities within your products or to integrate your systems with those of your suppliers or business partners?
  3. Customers.  How much more closely do you work with your customers in terms of tailoring your outputs or jointly planning logistics and information processes?
  4. Regulation.  In what key areas have you had to change your operations to comply with new government rules, licensing regimes, etc.?  List only the top 50!
  5. Banks.  What are the most stringent changes your lenders or other financiers have made to conditions, reporting, covenants, etc. - and how have you complied?
  6. Recession.  And, in addition to the above, which are the most critical changes you've had to make due to the financial crisis - in terms of how you design, produce, market and sell; and, how you resource and control your processes, your cash-flow, etc.?

Your answers to the foregoing demonstrate at least two things: first, that change is constant - and more intense of late; and second, that you're capable of adapting to change when forced.  When it's change or die!  But, what of the times when you do have choice?  Where there's no-one to push - either directly by law or indirectly via potential loss of business?

All too often, leadership falls in this area.  And, from my observation over several decades, most of us only address it when forced - by company-wide programs or job-threatening setbacks.  And, even the programs often lack follow-up to ensure on-the-job traction.

So, leadership starts with self-leadership - and too often we fail.  Allowing ourselves to repeat default leadership strategies and actions, which proved worthwhile when first leading a team of sales people or engineers.  But, have no relevance in our current higher role.

So, in closing, let's return to St Augustine.  Despite early loose living, he converted to Christianity (and virtue) in mid-life.  So, perhaps we should show similar courage in addressing our need for a new approach to leadership.  It's essential if we want our businesses (and careers) to prosper - particularly in the face of so many external changes.  A new world requires new leadership.  And, it starts with self-leadership.  Not sticking with past approaches but working out the leadership actions needed today and then implementing them.

Categories for this Potshot:

Great-leader Potshots, Career planning, Build competitive advantage, Embed innovation, Attend to customers, Monitor and shape change, Drive bottom line metrics, GFC Potshots, Show self-leadership,



Dr. Timothy Pascoe AM
PhD (Cambridge), MBA (Harvard), BE & BEc (Adelaide)
Creator, V|E|C|T|O|R Leadership®

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