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Leadership requires the passion, vision, integrity, and experience to create an ethical and effective organizational culture. True leaders inspire and motivate individuals to strive for excellence and continually improve and innovate. 
It is vitally important that ethical decision-making, hiring and promoting the best, delivering excellence, and building long-term value are the core principles which guide all management actions. Values such as trust, honesty, integrity, fairness, reliability, pragmatism, and excellence must be continually exemplified, supported and rewarded at all levels of an organization. - Chris Banescu |
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Chris Banescu | August 29, 2008
Good management has nothing to do with short-term successes and the management elixirs that allegedly led to them. This seemingly banal insight results from a long-term, historical perspective like [Peter] Drucker's. It cannot be achieved by judgments based on quarterly results, but rather emerges from a deeply rooted understanding of the durable, unclouded by short-term spectacular success stories. Not the momentary "how" is important, but rather the seminal "why." (Herman Simon, Management Beyond the Day) Despite well-established management principles that require a long-term perspective be used when evaluating all business decisions and the countless organizational failures and disasters that demonstrate the consequences of ignoring such strategic thinking, many corporations continue to repeat those same mistakes and seemingly fail to learn their lessons. This may be due to the pressures placed on companies to be “profitable” for the next quarter that motivate senior executives to quickly maximize share prices while ignoring the potential negative effects to the long-term profitability, value, and survivability of an organization. Another explanation for this dysfunctional approach may be the flawed compensation systems and executive contracts that reward management for short-sighted profitability decisions without demanding accountability for the long-term organizational profitability and taking into consideration the impact on the long-term value and competitive position of a company. |
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