I guess I am a negatron but that is by design. I have a fairly structured decision making process borne of years in the military where decision making at the lowest levels is encouraged to be free thinking (within the regulations of course). Many people think groupthink is alive and well in the US Military and to some extent, it is especially at the general officer ranks. Nevertheless, groupthink in the military, the government and business leads to undesirable outcomes across the board.
Individuals like Gen McChrystal or Carly Fiorina at HP do not adhere to groupthink. Unfortunately, these individuals are drummed out of an organization. Groupthink fails because equal credence is given to all ideas regardless of form and validity, not a bad concept with a strong capable leader able to ferret out the BS. However, without good leadership the common denominator of these decisions is mediocrity not excellence. When management cannot make a decision and allows the groupthink mentality to flourish failure will ultimately occur. I agree that groupthink in and of itself can be useful and lead to better acceptance of good practice and procedures, but it is better defined and characterized as consensus building whereby all ideas are aired and discussed. But decisions based upon how well they will sell with the company masses only perpetuates low standards and drives folks with higher goals and standards to other venues for work leaving the organization with those that accept mediocrity as the standard.
Tuesday, August 17, 2010
Tuesday, July 27, 2010
The Fall of The BP Executive
Well the fall of Tony Hayward of BP is complete. However, did he deserve the punishment meted out to him? His use of the English language notwithstanding ("I just want my life back” which I can understand was spoken in an unguarded moment) and his choice of activities in which to relax (yachting) certainly cast a pall over his departure. However, by all accounts BP did as much as could be expected after the oil incident occurred and we may never know what happened on the Deepwater Horizon oilrig.
So..should he be the scapegoat for the misadventures of BP in the Gulf of Mexico?
It is important and we all forget from time to time that leadership is about getting the best out of people even when they don't to do the things an organization needs to do...and get them to do it because they want and need to do it not because you told them to.
Part of this is taking the hit when it comes (and it will come). I have always believed and acted upon this belief: I am responsible for everything my organization does or does not do. If we succeed, it is because, as a team, we all contributed and the team deserves the credit. If the team fails, then I have failed and should take the first bullet from the corporate gun. Others may fall and should but if they have done my bidding in good faith then I may be the only one to pay the price.
I do not begrudge Mr. Hayward's payment as he departs since 90% was earned through his pension over 28 years in the making. Nevertheless, like everything from the yacht to getting his life back, in total it looks bad.
So..should he be the scapegoat for the misadventures of BP in the Gulf of Mexico?
It is important and we all forget from time to time that leadership is about getting the best out of people even when they don't to do the things an organization needs to do...and get them to do it because they want and need to do it not because you told them to.
Part of this is taking the hit when it comes (and it will come). I have always believed and acted upon this belief: I am responsible for everything my organization does or does not do. If we succeed, it is because, as a team, we all contributed and the team deserves the credit. If the team fails, then I have failed and should take the first bullet from the corporate gun. Others may fall and should but if they have done my bidding in good faith then I may be the only one to pay the price.
I do not begrudge Mr. Hayward's payment as he departs since 90% was earned through his pension over 28 years in the making. Nevertheless, like everything from the yacht to getting his life back, in total it looks bad.
Thursday, July 22, 2010
Financial Advice to Women - Part Two How to Rebuild Credit Rating
As in Part One, this section is about modifying our behavior when it comes to money and understanding how the system works. We must understand that in most cases poor credit resulted in a pattern of spending over a period and as such will probably take as long if not longer to rectify.
Individuals face two common problems: Poor credit rating and no credit rating. Both have their unique issues and solutions. We will start with poor credit rating.
Poor credit ratings can be a result of a myriad if issues most likely from poor spending habits resulting in debt accumulation and failure to pay debts for what ever reason. There are other issues (bankruptcy, payment delinquency, default on loans, etc.) but they are beyond the scope of today’s blog.
Poor spending habits lead to the problems but poor decisions in solving credit dilemmas exacerbate the issues. Many people ignore obligations taking a manageable situation and making it a chaotic condition. Of course we all are going to face extraordinary circumstances in our lives that we cannot plan for (job loss, serious illness, etc.) that may well create a condition where credit rating fall. It is how we deal with these that defines our credit character.
Another problem that many women face is that of no credit rating. A woman is most frequently linked to her spouse/partner’s credit rating and does not have one of her own. Some women (and men) do not have a credit rating because they are new to the workforce or have never used credit out of fear of the system or no need. In many circumstances financial planning has driven couples into situations where both incomes are so linked that neither one of the individuals in a marriage have a clear independent credit rating. Usually the individual with primacy on the account in terms of income and naming have the rating while the other individual lacks a rating if separated from the arrangement through death or divorce.
How can an individual rectify these two problems? In the case of a poor credit rating, get informed – what does a poor credit rating mean to you. You may still be able to get credit but you may have to pay a higher interest rate or more stringent repayment terms. Your debtors wan to work with you - they want you pay off the debt rather you file for bankruptcy. Talk to them before you cross the Rubicon of Bankruptcy.
A first step in fixing a credit rating is to determine how bad it really is. To do so get a copy of your credit report and check the details of what is on the report. You do not want to be surprised. Sources of credit ratings are typically Equifax, Experian, and Transunion. You can get a copy through your bank or buy contacting them directly for a one-time fee. Be cautious that you do not signup for services beyond your needs (credit monitoring, identity theft protection, etc.). Steps to take in the short term to repair credit ratings/ranking s include:
a. Control spending.
b. Pay down debt beyond the minimum payments.
c. Pay bills (all bills) on time.
d. Do not miss payments even if the payments are small
e. Negotiate directly with the debtor for a payment plan. In many cases, they will work with you and will not report the negotiation to the credit bureaus. Other “credit counseling and debt consolidation services will report the activity and the credit rating could suffer even more despite good intentions.
f. Avoid opening new credit cards and rolling over to a lower interest rate that goes up later. This activity can adversely affect your rating instead of helping.
g. As a last resort, use a debt consolidation service. The use of these services can prolong the recovery process since it is sometimes reported to the credit bureaus.
h. Continue to create a savings culture in your life
Many young women (and men) do not have a credit rating since they are new to the work force after any years due to divorce or they are new due to recent college graduation. There is no quick way to build a credit rating but small actions quickly build up a positive rating. You ca first establish credit accounts where you can control what you purchase and monitor. Pay these off each month. This payment schedule has a positive impact on your rating history.
You can purchase a large ticket item (if you need it; not for just building a credit rating) such as household appliance, car (used or old) or furniture. This installment consumer credit is usually unsecured (other than the item being purchased and reflects directly o your “credit worthiness”. When buying a car most people want it to be owned jointly and this is okay but you are not building an independent credit rating, hence the problem if divorce or death occurs. A parent may purchase a car for a child graduating from college but it does nothing for the credit rating. Better to help a child in other ways and let her/him finance the car when thy have a job upon graduation.
If you are married with a job, you can put back money in a separate savings account do this as it is a factor when getting loans independent of your spouse/partner or you are single. Getting credit cards as a separate cardholder also helps build the credit record.
These are just a few of the ideas for building, repairing and restoring your credit worthiness in these and subsequent time. As always, see a licensed financial advisor for detailed planning when you can but remember Rome was not built in a day so time is needed as well as a disciplined approach. Your credit rating is as important as your identity so protect it.
Individuals face two common problems: Poor credit rating and no credit rating. Both have their unique issues and solutions. We will start with poor credit rating.
Poor credit ratings can be a result of a myriad if issues most likely from poor spending habits resulting in debt accumulation and failure to pay debts for what ever reason. There are other issues (bankruptcy, payment delinquency, default on loans, etc.) but they are beyond the scope of today’s blog.
Poor spending habits lead to the problems but poor decisions in solving credit dilemmas exacerbate the issues. Many people ignore obligations taking a manageable situation and making it a chaotic condition. Of course we all are going to face extraordinary circumstances in our lives that we cannot plan for (job loss, serious illness, etc.) that may well create a condition where credit rating fall. It is how we deal with these that defines our credit character.
Another problem that many women face is that of no credit rating. A woman is most frequently linked to her spouse/partner’s credit rating and does not have one of her own. Some women (and men) do not have a credit rating because they are new to the workforce or have never used credit out of fear of the system or no need. In many circumstances financial planning has driven couples into situations where both incomes are so linked that neither one of the individuals in a marriage have a clear independent credit rating. Usually the individual with primacy on the account in terms of income and naming have the rating while the other individual lacks a rating if separated from the arrangement through death or divorce.
How can an individual rectify these two problems? In the case of a poor credit rating, get informed – what does a poor credit rating mean to you. You may still be able to get credit but you may have to pay a higher interest rate or more stringent repayment terms. Your debtors wan to work with you - they want you pay off the debt rather you file for bankruptcy. Talk to them before you cross the Rubicon of Bankruptcy.
A first step in fixing a credit rating is to determine how bad it really is. To do so get a copy of your credit report and check the details of what is on the report. You do not want to be surprised. Sources of credit ratings are typically Equifax, Experian, and Transunion. You can get a copy through your bank or buy contacting them directly for a one-time fee. Be cautious that you do not signup for services beyond your needs (credit monitoring, identity theft protection, etc.). Steps to take in the short term to repair credit ratings/ranking s include:
a. Control spending.
b. Pay down debt beyond the minimum payments.
c. Pay bills (all bills) on time.
d. Do not miss payments even if the payments are small
e. Negotiate directly with the debtor for a payment plan. In many cases, they will work with you and will not report the negotiation to the credit bureaus. Other “credit counseling and debt consolidation services will report the activity and the credit rating could suffer even more despite good intentions.
f. Avoid opening new credit cards and rolling over to a lower interest rate that goes up later. This activity can adversely affect your rating instead of helping.
g. As a last resort, use a debt consolidation service. The use of these services can prolong the recovery process since it is sometimes reported to the credit bureaus.
h. Continue to create a savings culture in your life
Many young women (and men) do not have a credit rating since they are new to the work force after any years due to divorce or they are new due to recent college graduation. There is no quick way to build a credit rating but small actions quickly build up a positive rating. You ca first establish credit accounts where you can control what you purchase and monitor. Pay these off each month. This payment schedule has a positive impact on your rating history.
You can purchase a large ticket item (if you need it; not for just building a credit rating) such as household appliance, car (used or old) or furniture. This installment consumer credit is usually unsecured (other than the item being purchased and reflects directly o your “credit worthiness”. When buying a car most people want it to be owned jointly and this is okay but you are not building an independent credit rating, hence the problem if divorce or death occurs. A parent may purchase a car for a child graduating from college but it does nothing for the credit rating. Better to help a child in other ways and let her/him finance the car when thy have a job upon graduation.
If you are married with a job, you can put back money in a separate savings account do this as it is a factor when getting loans independent of your spouse/partner or you are single. Getting credit cards as a separate cardholder also helps build the credit record.
These are just a few of the ideas for building, repairing and restoring your credit worthiness in these and subsequent time. As always, see a licensed financial advisor for detailed planning when you can but remember Rome was not built in a day so time is needed as well as a disciplined approach. Your credit rating is as important as your identity so protect it.
Financial Advice to Women - Part One Get Control of the Money
Economic times are often described as a recession or depression. In personal terms, it is a recession where your neighbor is out of work. However, it is a depression when you lose your job. This is a particularly difficult time for single women with little experience in the financial world. Here are some ideas on how women can improve their financial situation (credit scores) after they have encountered problems with debt after a job loss and are returning to the work force.
The first thing to remember is that these problems did not happen in one big fell swoop unless there was a cataclysmic event (death or serious illness in the family) so the remedy will take longer than expected; much longer, and will require significant effort in terms of mental attitude, lifestyle adjustment, and habit modification. The mental attitude is probably the most difficult since the task can be very daunting and discouraging. The sheer scope of the problem will vary from individual to individual but the plight of a single woman (mother) is one highlighted each night on the evening news and can lead one to believe there is no use in trying. Hence, the resulting downward spiral into financial chaos.
I cannot solve all the problems here in this piece and some individuals reading this have taken the first step in solving their issues simply by reading this blog. The first steps to fixing a problem is identifying the problem then seeking information (help).
You are already in trouble so First things first: Gain control of spending NOW.
Four Ways to Trim Spending
We need to understand where the spending is occurring. It is a cliché’ to say create a budget. However, one must know where the money is coming from and where it is going I order to gain control of the financial situation. Most of us pay the important bills first unless we are facing a real financial predicament (unemployment, severe illness, etc.). The remaining spending gets us in trouble. Pay yourself first is always a good idea. I do not mean to spend money on your self. You need to build up reserves that you depleted during the emergency otherwise, you will be in worse shape when it happens again (we can hope and pray that it does not but Chance favors only the prepared mind.” - Louis Pasteur). The areas needing attention when building reserves include:
a. Current savings
b. Retirement
The amount put aside does not need to be a substantial amount at first but it is important to make it a habit.
In spending, we all need to determine why you are buying what you are buying. Spending money can be a great deal like comfort food. We eat not because we are hungry but because it makes us feel good. Nutrition is second. As a result, we gain weight, then we feel bad and the cycle begins again. Spending money follows the same cycle for many people, especially in the United States. However, do not say to yourself "I am not going to spend money unless I need to" – this will build a legacy of guilt, which can be counterproductive.
First, look at where you are and then determine where you want to be in three to five years in terms of savings. You notice I did not mention goals; these are like New Year’s resolutions – meant to be broken. Habits take time and prioritization. What are these goals?
a. Savings.
b. Primary home.
c. Retirement.
d. Education for children.
e. Rainy day fund.
f. Vacation home.
The clarity you receive from this analysis will aid you as you build the financial escape from chaos plan.
The next step is to prioritize spending. You notice I have not told you what NOT to buy. Prioritization does two things: It points you in the right direction to avoid short-term issues (foreclosure, pay garnishment, etc) and gives you rational reasons for not spending money you do not have (debt accumulation). Remember to pay yourself first in terms of savings.
a. Mortgage/Rent
b. Utilities
c. Food – Big area where savings can occur
d. Insurance
e. Education (children or self)
f. Clothing – another big area that needs prioritizing within the category
i. Business/work clothing
ii. Casual/entertainment clothing
iii. Other clothing
g. Other bill paying
h. Actual discretionary spending
i. Entertainment
ii. Dining
iii. Travel
Take small steps along the way – a staircase is a series of steps not one large step.
The first thing to remember is that these problems did not happen in one big fell swoop unless there was a cataclysmic event (death or serious illness in the family) so the remedy will take longer than expected; much longer, and will require significant effort in terms of mental attitude, lifestyle adjustment, and habit modification. The mental attitude is probably the most difficult since the task can be very daunting and discouraging. The sheer scope of the problem will vary from individual to individual but the plight of a single woman (mother) is one highlighted each night on the evening news and can lead one to believe there is no use in trying. Hence, the resulting downward spiral into financial chaos.
I cannot solve all the problems here in this piece and some individuals reading this have taken the first step in solving their issues simply by reading this blog. The first steps to fixing a problem is identifying the problem then seeking information (help).
You are already in trouble so First things first: Gain control of spending NOW.
Four Ways to Trim Spending
We need to understand where the spending is occurring. It is a cliché’ to say create a budget. However, one must know where the money is coming from and where it is going I order to gain control of the financial situation. Most of us pay the important bills first unless we are facing a real financial predicament (unemployment, severe illness, etc.). The remaining spending gets us in trouble. Pay yourself first is always a good idea. I do not mean to spend money on your self. You need to build up reserves that you depleted during the emergency otherwise, you will be in worse shape when it happens again (we can hope and pray that it does not but Chance favors only the prepared mind.” - Louis Pasteur). The areas needing attention when building reserves include:
a. Current savings
b. Retirement
The amount put aside does not need to be a substantial amount at first but it is important to make it a habit.
In spending, we all need to determine why you are buying what you are buying. Spending money can be a great deal like comfort food. We eat not because we are hungry but because it makes us feel good. Nutrition is second. As a result, we gain weight, then we feel bad and the cycle begins again. Spending money follows the same cycle for many people, especially in the United States. However, do not say to yourself "I am not going to spend money unless I need to" – this will build a legacy of guilt, which can be counterproductive.
First, look at where you are and then determine where you want to be in three to five years in terms of savings. You notice I did not mention goals; these are like New Year’s resolutions – meant to be broken. Habits take time and prioritization. What are these goals?
a. Savings.
b. Primary home.
c. Retirement.
d. Education for children.
e. Rainy day fund.
f. Vacation home.
The clarity you receive from this analysis will aid you as you build the financial escape from chaos plan.
The next step is to prioritize spending. You notice I have not told you what NOT to buy. Prioritization does two things: It points you in the right direction to avoid short-term issues (foreclosure, pay garnishment, etc) and gives you rational reasons for not spending money you do not have (debt accumulation). Remember to pay yourself first in terms of savings.
a. Mortgage/Rent
b. Utilities
c. Food – Big area where savings can occur
d. Insurance
e. Education (children or self)
f. Clothing – another big area that needs prioritizing within the category
i. Business/work clothing
ii. Casual/entertainment clothing
iii. Other clothing
g. Other bill paying
h. Actual discretionary spending
i. Entertainment
ii. Dining
iii. Travel
Take small steps along the way – a staircase is a series of steps not one large step.
Tuesday, August 4, 2009
Executive Pay: Shareholder Control versus Government Control
The issue is less on who controls executive pay but rather do we want the government involved in business enterprises. I agree with critics of executive compensation that there should be accountability for performance and a link between performance and bonus payment structure. Bureaucracy is inherent in government programs and if we allow the “Pay Czar” to dictate pay structure in our companies that receive “bail-out” funds, the czar will not stop there. Power corrupts. Shareholders should influence executive compensation but the system of proxy voting is indeed slanted to the benefit of the corporation or the liberal agendas of political action committees and other lobbyists s who have the time and money to mount campaigns to effect change. But I have my doubts as to the support of their “change agendas”.
As a former portfolio manager of a 1940 Act mutual fund I voted proxies for the companies held in my fund. I like to believe I was responsible in my voting of said proxies, but rarely if ever was compensation a point of a shareholder vote. Shareholders attempted to get the issue on the ballot but rarely was it ever there and even rarer for the vote to be cast in the majority for the pay to be reviewed let alone constrained. Still, in a capitalist society (while we are a republic, capitalism is the basis of who we are as US citizens) there is no room for the government to dictate profits, business plans, and compensation. Enable the shareholder and owners of businesses do that. I do not trust my government to manage private businesses anymore than Thomas Jefferson did 210 yeas ago.
As a former portfolio manager of a 1940 Act mutual fund I voted proxies for the companies held in my fund. I like to believe I was responsible in my voting of said proxies, but rarely if ever was compensation a point of a shareholder vote. Shareholders attempted to get the issue on the ballot but rarely was it ever there and even rarer for the vote to be cast in the majority for the pay to be reviewed let alone constrained. Still, in a capitalist society (while we are a republic, capitalism is the basis of who we are as US citizens) there is no room for the government to dictate profits, business plans, and compensation. Enable the shareholder and owners of businesses do that. I do not trust my government to manage private businesses anymore than Thomas Jefferson did 210 yeas ago.
Monday, July 20, 2009
Would You Work For Free?????
Most of us undervalue the services we provide our clients, partly because the market will only bear so much and many of us (Baby Boomers) do not place a high enough value on what we offer our clients in terms of services. Now if we were auto mechanics and we were offering our essential services to get their car back on the road, we would probably say we are charging the right amount or even providing a service at a discount because the end result (car in working condition) is visible and quantifiable. I am in the financial services arena and much of what we do outside of investing does not have the immediate, gratifying feel of driving the car out of the garage, therefore we feel the end user (client) will not pay full price but will grudgingly pay the discount which becomes the basis for even more discounts when the economy or market volatility makes price levels heavy and laden down with human emotions. And once we cut prices we are loath to raise them again for fear of allowing our clients a reason to shop around. The end result: Our services may not be free but the compensation may not be free but it is in many cases not up to the point of what they are worth in the long run but we have already stepped onto the slippery slope of giving away services.
Wednesday, July 15, 2009
Leadership Philosophy
I have been in leadership and management positions for over thirty years. Early in my Army career I along with 200 other second lieutenants were asked to describe our leadership style and the important aspects of how we would lead men and women under our charge. Over the years this first, simple three paragraph statement has grown as my experiences have built upon one another to produce the leader I am today. And I continue to learn as new experiences and techniques come into play. But the tenets of that first plain leadership paper remain the basis of how I lead and manage within the culture of the firm.
I submit for your edification a shortened version of my leadership philosophy. If you would like to see the piece in its entirety, please feel free to contact me.
Leadership Philosophy
I. Purpose of Philosophy.
Leadership first of all is a people business. Our greatest asset goes out the door each night – our team members. Each member of the team should have a deep sense of self respect as well as respect for others within the team.
I envision my role as a leader including the leading and facilitating members of the firm to produce superior results, to develop cohesive processes and attendant policies, and the management of resources. The intent of my leadership philosophy is to provide the guidance necessary for the accomplishment of these three tasks. I must instill confidence in each and every individual and establish open, two-way communications. Loyalty must be a two-way street where all know that the firm cares about them and will take care of them.
II. Statement of Philosophy.
Leadership at executive levels is no different than at lower levels of an organization, the scope has just gotten broader. The principles of leadership remain the same in application. The most significant challenge I face as a leader is to have my "presence" felt throughout the team, even though I am not able to directly influence all of the events taking place. This indirect leadership takes on significant importance, as my will or intent must be infused throughout the team. My contact and subsequent direct leadership of those personnel around me allows for this infusion of my intent to start and spread downward and outward.
The personal interaction with others in the organization; superiors, peers, and team members, requires leadership, direct and indirect, to make an organization effective. The two types of leadership, indirect and direct, go hand in hand. As I have progressed in my career, my direct leadership needs have grown but so have requirements for indirect leadership skills. Until now the two have been used in tandem, based upon the span of control at the time. But at this level I find myself having to rely more on the indirect method to accomplish assigned tasks because of the wide diversity of the skills of our personnel and the ever-increasing complexity of the business environment.
My role as a leader is a combination of leadership and management, but without the people, management can be done without any real personal contact or feeling. My personal actions and behavior will set the example for my team members. If I am harsh or unforgiving, then they will probably be the same. They will do this out of fear or because they perceive that this technique of leadership is effective. I don't believe fear tactics are effective leadership techniques. I feel that all of us; regardless of status or position, want to do the best job possible and will do so if given the opportunity, trust, and resources. I will make this perception known to the firm and understood by all.
My management philosophy reflects the values and beliefs instilled in me by my parents, education, and service to my country. As a professional, I will maintain my vision by realizing it is shaped by my perceptions of the past, present, and future. My attributes as a leader require that I set the example in all that I do, both at work and away from the office. I will be a teacher, coach, and mentor to those on my team. I must provide the necessary direction and purpose to team members to achieve the integration and synchronization of the efforts of all members of the team. This direction takes the form of my vision while the purpose, long term or short, is embodied in my intent.
My vision for the team also includes the prioritization of the team's efforts, which ties back into unity of effort. The direction, which I establish, and subsequent prioritization, will contribute to the building of the required team effort.
Conclusion:
I will place the welfare of the team and firm ahead of any personal gain or advantage I may receive from position as Chief Executive Officer. I am responsible for all that my team does or does not do, for what reward or promotion I receive is a result of what my team accomplishes, not what I am able to personally do. Team members produce the results and they will receive the credit.
I submit for your edification a shortened version of my leadership philosophy. If you would like to see the piece in its entirety, please feel free to contact me.
Leadership Philosophy
I. Purpose of Philosophy.
Leadership first of all is a people business. Our greatest asset goes out the door each night – our team members. Each member of the team should have a deep sense of self respect as well as respect for others within the team.
I envision my role as a leader including the leading and facilitating members of the firm to produce superior results, to develop cohesive processes and attendant policies, and the management of resources. The intent of my leadership philosophy is to provide the guidance necessary for the accomplishment of these three tasks. I must instill confidence in each and every individual and establish open, two-way communications. Loyalty must be a two-way street where all know that the firm cares about them and will take care of them.
II. Statement of Philosophy.
Leadership at executive levels is no different than at lower levels of an organization, the scope has just gotten broader. The principles of leadership remain the same in application. The most significant challenge I face as a leader is to have my "presence" felt throughout the team, even though I am not able to directly influence all of the events taking place. This indirect leadership takes on significant importance, as my will or intent must be infused throughout the team. My contact and subsequent direct leadership of those personnel around me allows for this infusion of my intent to start and spread downward and outward.
The personal interaction with others in the organization; superiors, peers, and team members, requires leadership, direct and indirect, to make an organization effective. The two types of leadership, indirect and direct, go hand in hand. As I have progressed in my career, my direct leadership needs have grown but so have requirements for indirect leadership skills. Until now the two have been used in tandem, based upon the span of control at the time. But at this level I find myself having to rely more on the indirect method to accomplish assigned tasks because of the wide diversity of the skills of our personnel and the ever-increasing complexity of the business environment.
My role as a leader is a combination of leadership and management, but without the people, management can be done without any real personal contact or feeling. My personal actions and behavior will set the example for my team members. If I am harsh or unforgiving, then they will probably be the same. They will do this out of fear or because they perceive that this technique of leadership is effective. I don't believe fear tactics are effective leadership techniques. I feel that all of us; regardless of status or position, want to do the best job possible and will do so if given the opportunity, trust, and resources. I will make this perception known to the firm and understood by all.
My management philosophy reflects the values and beliefs instilled in me by my parents, education, and service to my country. As a professional, I will maintain my vision by realizing it is shaped by my perceptions of the past, present, and future. My attributes as a leader require that I set the example in all that I do, both at work and away from the office. I will be a teacher, coach, and mentor to those on my team. I must provide the necessary direction and purpose to team members to achieve the integration and synchronization of the efforts of all members of the team. This direction takes the form of my vision while the purpose, long term or short, is embodied in my intent.
My vision for the team also includes the prioritization of the team's efforts, which ties back into unity of effort. The direction, which I establish, and subsequent prioritization, will contribute to the building of the required team effort.
Conclusion:
I will place the welfare of the team and firm ahead of any personal gain or advantage I may receive from position as Chief Executive Officer. I am responsible for all that my team does or does not do, for what reward or promotion I receive is a result of what my team accomplishes, not what I am able to personally do. Team members produce the results and they will receive the credit.
Subscribe to:
Posts (Atom)
