Category Archives: Need to Know
As managers, it’s our sacred responsibility to create and continuously improve an environment that allows our people to do their best work. Few managers would disagree with their responsibility and accountability for creating this effective environment. Like breathing, it’s a good idea to invest time and energy in practices that promote a healthy, efficient and effective system. In reality, many firms do a good job on this in stable markets. However, when faced with the need to adapt or change due to market disruptions, too many firms struggle to change their system to support the pursuit of new. Here are 7 ideas to help managers avoid the most common mistakes as they venture forward into uncharted territory:
There are points in time when the only right choice is to assert and dictate direction or a decision. In those crucible moments for firms and teams, the failure of a leader to assert is the height of malpractice and irresponsibility.
The most effective leaders I know are simultaneously courageous and humble in the face of ambiguity and adversity. Courage as we all know is essential for facing and making the tough decisions demanded in difficult situations. I referenced this attribute in my recent post, Leading into the Fog. A healthy grounding of humility serves as a powerful check and balance influence that helps effective leaders fight the pressure to make rash decisions in the drive to be perceived as omniscient.
You will cultivate a leadership style over time…in large part by learning from trial and error. You can accelerate the learning process and improve your effectiveness by remembering to adapt your interaction style to the behaviors and preferences of others, while never compromising your commitment to fairness, your firm’s values or your obligation to drive results.
Businesses of all sizes, shapes and ages run into rough patches. Rapid growth, disruptive competitors or technologies, regulatory changes or the end of the road for well-worn strategies are all potential culprits in the move from success to struggle. It’s critical at this point for a firm’s leaders and managers to react carefully and appropriately in this unfamiliar terrain or they risk moving quickly from flail to fail. They invite flailure. Here are 5 ideas to stem the tide when the flailing starts: