Why Smart Executives Fail and What You Can Learn from Their Mistakes
Sydney Finkelstein
Portfolio, 2003
In recent years companies have seen success, but also spectacular failures: large firms like Arthur Andersen, Rubbermaid, and Schwimm Bicycle, or past winners such as Enron, Tyco, yWorldcom . After these failures, there is always a president who will run in memory that caused the failure.
The author wants to talk about those people once they have reached the summit of world renowned companies, reduce them to almost nothing. There is certainly a remarkable fact: the personal defects which make possible large-scale disasters, are usually in conjunction with desirable qualities.
This is logical: to have laoportunidad to destroy something of great value, one must have demonstrated the ability to create it. Most of the great destroyers of value are people of intelligence and an unusual talent, and equipped with a magnet. Managers are displayed on the covers of Fortune and Forbes.
However, when the time comes, they face a monumental failure. What is the secret of its destructive power?
After six years of research in 50 companies through 200 interviews, the author has found 7 common defects such big losers. Almost all executives who have presided over these failures have four or five of these defects. And the most gifted collect all seven. But most remarkable is that each of these defects, is also a quality widely accepted in the business world. This world not only tolerates the character traits that lead managers to the disaster, but even applaud.
are described below seven defects which could cause a dramatic drop management, as well as some symptoms that can detect them. These character traits are destructive, when in a CEO, but can be particularly harmful in any manager. Study them. Learn to recognize and try to see the warning signs that precede them.
Default 1. Believe you can master the environment
can be the most insidious, because it seems highly desirable. "No company should treat all strive to master its economic environment, to influence the development of their markets, and impose its own pace? Sure, but there's a catch. Unlike their counterparts happier, fallen leaders have not ever doubt his superiority does not have realized that they were at the mercy of circumstances. Have overestimated the actual ability to control events and therefore have underestimated the role of chance and circumstance in their success. The CEOs who have this defect, is excited about the superiority of person: the way of certain filmmakers,
are considered the "authors" of their company, have an idea of \u200b\u200bwhat needs to be and others are there to carry it out.
Kuhn-Hee, Samsung's Director-General had been so successful in the electronics what he thought we could do the same with cars, and invested 5 billion dollars in this market already saturated. He had no economic justification: he liked cars and dreamed of being present in the sector.
Symptom: A lack of respect.
When a manager is believed over the world, has a tendency to think that your company is essential both for suppliers and their customers.
The author wants to talk about those people once they have reached the summit of world renowned companies, reduce them to almost nothing. There is certainly a remarkable fact: the personal defects which make possible large-scale disasters, are usually in conjunction with desirable qualities.
This is logical: to have laoportunidad to destroy something of great value, one must have demonstrated the ability to create it. Most of the great destroyers of value are people of intelligence and an unusual talent, and equipped with a magnet. Managers are displayed on the covers of Fortune and Forbes.
However, when the time comes, they face a monumental failure. What is the secret of its destructive power?
After six years of research in 50 companies through 200 interviews, the author has found 7 common defects such big losers. Almost all executives who have presided over these failures have four or five of these defects. And the most gifted collect all seven. But most remarkable is that each of these defects, is also a quality widely accepted in the business world. This world not only tolerates the character traits that lead managers to the disaster, but even applaud.
are described below seven defects which could cause a dramatic drop management, as well as some symptoms that can detect them. These character traits are destructive, when in a CEO, but can be particularly harmful in any manager. Study them. Learn to recognize and try to see the warning signs that precede them.
Default 1. Believe you can master the environment
can be the most insidious, because it seems highly desirable. "No company should treat all strive to master its economic environment, to influence the development of their markets, and impose its own pace? Sure, but there's a catch. Unlike their counterparts happier, fallen leaders have not ever doubt his superiority does not have realized that they were at the mercy of circumstances. Have overestimated the actual ability to control events and therefore have underestimated the role of chance and circumstance in their success. The CEOs who have this defect, is excited about the superiority of person: the way of certain filmmakers,
are considered the "authors" of their company, have an idea of \u200b\u200bwhat needs to be and others are there to carry it out.
Kuhn-Hee, Samsung's Director-General had been so successful in the electronics what he thought we could do the same with cars, and invested 5 billion dollars in this market already saturated. He had no economic justification: he liked cars and dreamed of being present in the sector.
Symptom: A lack of respect.
When a manager is believed over the world, has a tendency to think that your company is essential both for suppliers and their customers.
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