A constant conflict in many businesses is the struggle between investing in long-term strategic planning to grow the business and executing short-term tactical activities to meet company objectives and customer needs. Feeding one and starving the other can result in not enough forward thinking or lack of focus and commitment to operational objectives.
Successful businesses master the balance of these two important business issues. How?
- Strategic thinking is emphasized throughout the business.
- Development of management skills in:
- Vision and planning
- Tactical execution
- Performance measurement of the implications of both long and short-term decisions.
- Communicating the strategic plan to all levels of the business.
Effective harmony and balance between being strategic and tactical does not happen by itself. Conscientious effort from the executive level on down is needed to create a positive environment that embraces . . .
In this article Eric summarizes the habits in common of 50 former high-flying company executives that had become complete failures. The original research was published in "Why Smart Executives Fail" authored by Sydney Finkelstein. the Steven Roth Professor of Management at the Tuck School of Business at Dartmouth College.
Seven key habits of a failing executive are:
- They see themselves and their companies as dominating their environment.
- They identify so completely with the company that there is no clear boundary between their personal interests and their corporationís interests.
- They think they have all the answers.
- They ruthlessly eliminate anyone who isnít completely behind them.
- They are consummate spokespersons, obsessed with the company image.
- They underestimate obstacles.
- They stubbornly rely on what worked for them in the past.
While the habits are interesting it should be of greater interest to the reader to see the "warning signs" associated with each habit which Eric includes in his article.
Click here to read the complete article.
Note: Ask yourself the following questions.
- Do you recognize any of the warning signs in your executive habit profile?
- Are you taking action to address your weaknesses?
- Are you seeking outside counsel to address issues that are affecting your performance?
If you are unsure about your executive performance contact Mike to learn about the Executive Coaching services available from Brice Consulting for you and your organization. Don't let your ego stand in the way of making a decision to get feedback on your executive effectiveness. What matters is knowing that you need to make a change and will to engage competent resources to turn improve your executive performance.
Here's the thing - leadership and conflict go hand-in-hand. Leadership is a full-contact sport, and if you cannot or will not address conflict in a healthy, productive fashion, you should not be in a leadership role.
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I was managed by a guy in his late twenties who I still consider even now to be the best boss I ever had. I was considered one of the top technical people in my organization, I could run circles around my manager. Looking back, there were several reasons why despite being better than he was technically, I thought he was an amazing manager:
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I have been blessed with some great mentors. They were smart, experienced, and always had my best interests at heart-but they weren't gentle. Probably each person gets the style they need from their best mentors, and mine were tough because I needed it.
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It's definitely counterintuitive and maybe a bit ironic, but when you meet an experienced, successful executive who seems to have all the confidence in the world, chances are he's experienced the most humiliating defeat you can ever imagine.
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Communication: Email has become the primary way to communicate with people in the office - in many companies, email is even more common than face-to-face conversations. It's important, then, to avoid behaviors that will get you in hot water with your boss and coworkers.
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Exit Planning: Forget health-care reform and tax policy changes to come in the next year - small businesses are also struggling when it comes to retirement. According to a recent survey, one-third of small business owners are without a pension or retirement savings and have no idea how they will retire.
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Cloud Computing: Cloud computing has the potential to become a greater generator of jobs in the U.S. than the Internet was in its early years, a new study says. In addition to creating very large business opportunities and hundreds of thousands of new jobs, cloud services could also save U.S. businesses billions of dollars.
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Business Climate: Former McDonald’s USA CEO Edward Rensi on how regulations are hurting businesses of all sizes.
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Working Effectively: Dr. Lois Frankel, author and president of Corporate Coaching International, reveals why women don't get what they want in the workplace and how to start dealing effectively with resistance. Note: Worthwhile information for men as well.
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Employee Development: Great employees are reliable, dependable, proactive, diligent, great leaders and great followers... they possess a wide range of easily-defined - but hard to find - qualities.
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Business Development: If you've been trying to keep shoppers loyal to your small business and out of the big chain stores, you're not alone. Small retailers have been trying to harness the "shop local" movement to hang onto their customers.
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