Valuable Insights for Today's Leaders
“Lose money for the firm, and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless.”
There is no reason why your company’s compensation system should not be transparent and easily understood. It builds trust and credibility with employees and allows them to focus on their job and not compensation issues, which leads to better company performance.
Emotional intelligence is recognized as a key leadership trait. EQ is also important to the success of everyone who interacts with people, regardless of their position within an organization.
Business leaders will never face the challenges of Zelensky. However, the traits needed to inspire your organization are the same: superb communication skills, inner fortitude and a laser focus on the challenge. With these traits, you can rally your organization to accomplish goals thought to be unachievable.
“A toxic corporate culture is by far the strongest predictor of industry-adjusted attrition and is 10 times more important than compensation in predicting turnover …. Toxic cultures include … workers feeling disrespected and unethical behavior.” Ensure your corporate culture is not toxic.
Peloton’s new CEO wants employees to get out of their comfort zones. Here’s why that’s so important.
“Your comfort zone is your own worst enemy … If the thing you’re doing appears to be working, your natural inclination is to do more of it … When you’re comfortable, you have no motivation to look around and think about what might need to change.”
In real time, entrepreneurship students hire employees, attract investors, sell to customers, execute business strategies, learn how to de-risk their decisions and manage a P&L statement. These are valuable skills whether one starts a business, works for a startup or works for an established company.
Can a CEO who was asked to step down by the board due to their toxic leadership traits ever return to that position and be successful? Can trust and confidence in their leadership be established? Can talented and experienced people be recruited?
A question every new product development team must ask is, “Why will customers want to buy our new product?” Addressing this and the questions outlined in this article will raise the probability of a new product’s success.
Business schools that teach to maximize shareholder value but don’t emphasize the importance of ethics, integrity and the need to be a good corporate citizen are shortchanging their students and the companies they will work for.
In the words of renowned Brazilian novelist, Paulo Coelho, “If you want to be successful, you must respect one rule: Never lie to yourself.” Leaders, remember to listen to your experts, establish a challenge culture and value the lone wolf within your organization.