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Oct

2011

CEOs Need Courage

"Some years ago, the then-CEO of Air Products told me that it took his team two months to decide and plan layoffs, two weeks to do them, and two years to recover. When I asked why the company had done something that caused so much damage, the reply was that it was expected by Wall Street and his CEO peers. "

blogs.hbr.org/...ceos_need_courage.html

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CEO courage management stocks longterm

As these examples illustrate, CEOs not only need a new set of beliefs, they need the courage of their convictions to act on those beliefs.
As former Procter & Gamble CEO A. G. Lafley has noted, the best time to gain market share is when your competitors are in retreat. And, as common sense suggests, if you want to earn exceptional returns, you can't simply copy what everyone else is doing.
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- The best companies and the best leaders understand the real drivers of business success: a long-term perspective which focuses on customer and employee relationships as the sources of competitive advantage and an emphasis on values and ethics as guides to decision making
- What separates these CEOs from the pack is not just a more sophisticated and empirically accurate understanding of individual behavior and the sources of organizational success but also the courage to implement these insights even when, or particularly when, they seem to defy conventional wisdom.