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Aug

2010

A Crisis of Management not Economics

"As you may expect, I have a management lens through which I look at these things. I really think that it is significantly a management problem, more than an economic problem or financial problem. If you look at the sub-prime issue, there were two things that were indications of management gone wrong. One is the short-term nature in how people manage. So, write those mortgages as quick as you can, cash in and get the heck out which is a very short-term perspective with people who are mismanaging"

www.theglobeandmail.com/...article719382.ece

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crisis management economics mintzberg shortterm leadership communities communityship cooperation Sustainabledevelopment

This is partly because they do not care about the long-term and partly because they do not care about their own institutions or customers, they care about themselves.
Even if leadership is designed to encourage and to bring along other people and engage other people, it is still the individual driving it
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- I think that we need to put more emphasis on what I prefer to call, there is no word for it but I use the word 'community-ship', which is the idea that corporations and other organizations, when they function well, are communities.
- So, you have destroyed the whole sense of community. I think that the worst thing about the American economy today is not what has happened, it is the total depreciation of so many publicly-traded corporations and they are just going down the drain
- To add one other thing, part of the problem is this whole phony separation between leadership and management. The idea that somehow they are the big shots who do all of the leadership, and it is everybody else who does the scud work as managers.
- lso, just one last point, we make a lot of fuss over micro-managing, meddling in the affairs of your subordinates. Macro-managing or macro-leading is a much bigger problem: people who are managing at such an abstract level that they do not know what is going on and that includes all of those bankers that bought all of that mortgage junk
- So, they are not trained to understand and respect their businesses, they are trained to flip from one case to another and it is very dysfunctional.
- I think that there are many more long-term, sustainable manners of raising capital through patient capital, patient capital investors perhaps the sort of Warren Buffett type of person, I do not know, through co-ops. There are amazingly successful business co-ops such as Mondragón in the Basque country that has something like eighty thousand employees and is totally a co-op.

Oct

2008

Wirearchy · Henry Mintzberg: “A Crisis of Management Not Economics”

McGill University management professor Karl Moore interviews McGill University management professor and global management guru Henry Minztberg on the dysfunction of management education and practice, the need to reduce the obsessive focus on leadership and the stimulus and encouragement of "communityship".

blog.wirearchy.com/...is-of-management-not-economics

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mintzberg crisis economics management leadership communityship