Looking For Failure In Business Places

HOT READS FOR THE PRACTITIONER

Title: The Seven Habits of Spectacularly Unsuccessful Executives

Competency: Leadership (with a capital “L”)

Who benefits: those in leadership positions (any level), those seeking leadership positions, students of leadership

Consultant Usage: absolute must for executive coaches

What’s it about? With a not-so-subtle nod to Stephen Covey, Forbes writer Eric Jackson takes on the negative side of leadership habits.  Almost the entire article is devoted to these bad habits that promise personal and organizational failure.  Each habit is also accompanied by a warning sign – how to recognize the failing habit. 

I will give you the headline version and urge you to read the article:

Habit # 1:  They see themselves and their companies as dominating their environment.
Warning Sign for #1:  A lack of respect

Habit #2:  They identify so completely with the company that there is no clear boundary between their personal interests and their corporation’s interests. 
Warning Sign for #2: A question of character

Habit #3:  They think they have all the answers. 
Warning Sign for #3:  A leader without followers

Habit #4:  They ruthlessly eliminate anyone who isn’t completely behind them.
Warning Sign for #4:  Executive departures

Habit #5: They are consummate spokespersons, obsessed with the company image.
Warning Sign of #5:  Blatant attention-seeking

Habit #6: They underestimate obstacles.
Warning Sign of #6:  Excessive hype

Habit #7: They stubbornly rely on what worked for them in the past.
Warning Sign of #7:  Constantly referring to what worked in the past

There is a great quote in the article that I will make a point to remember: “(W)hen CEOs make the company’s image their top priority, they run the risk of using financial-reporting practices to promote that image.  Instead of treating their financial accounts as a control tool, they treat them as a public-relations tool. The creative accounting that was apparently practiced by … Enron’s Jeffrey Skilling.”

He closes the article with a bit of sage advice: “If your boss or several senior executives at your company exhibit several of these traits, now is the time to start looking for a new job.”  Sounds like good advice to me.

The article is based upon Dartmouth professor Sydney Finkelstein’s book Why Smart Executives Fail: And What You Can Learn from Their Mistakes.   This 2004 book is still a goodie.

Catch you later.

Bill Bradley

Bill Bradley (mostly) retired after 35 years in organizational consulting, training and management development. During those years he worked internally with seven organizations and trained and consulted externally with more than 90 large and small businesses, government agencies, hospitals and schools.