C-Suite Blind Spot – Corporation Success – Nothing Replaces Good Leadership

Blind Spot

Most often we hear about the great CEOs and business success stories of our times. Steve Jobs – Apple, Michael Eisner – Disney, Elon Musk – Tesla, Meg Whitman – eBay or a blast from the past Lee Iacocca – Chrysler, all great examples. Proof that nothing replaces good leadership.

To a much lesser scale, we hear about how great companies and products lose market value, market share and/or struggle to find and seek new ownership to survive. Travis Kalanick – Uber, John Stumpf – Wells Fargo, Kenneth Lay – Enron, Steve Ballmer – Microsoft, John Schnatter – Papa John’s or Stan O’Neal – Merrill Lynch all examples of good things gone bad. In fact, 2019 saw the highest CEO turnover on record.

Further, research shows some worrisome trends that are impacted by organizational leadership:

· 40% of new leaders fail within the first 18 months (LinkedIn).

· 79% of employees quit because they are not appreciated (Inc - NBC).

· 15% of candidates state they turn down job offers due to negative work culture (Goremotely).

· 1 in 5 employees is at risk of burnout (Harvard Busines Review).

· Only 33% of employees are engaged at work (Gallup).

Illumination

Great products, good market timing, a talented workforce and access to capital; why do-good companies struggle or sometimes fail? As CEO’s continue to navigate through and out of this pandemic, what can they do to ensure success and longevity? Why do some companies struggle while others are able to thrive by pivoting and reinventing? What are the qualities of a good leader?

Research shows successful and effective leaders should:

· Show empathy and be honest; take responsibility.

· Encourage collaboration at all levels.

· Create a clear strategy and set of priorities with the team – but be flexible to adapt.

· Be creative and open to problem solving; listen and communicate

· Engage with their teams regularly and encourage team success.

As we exit, new challenges will emerge for corporations and top executives. Realizing personal shortcomings and adapting the above tactics will ensure a fighting chance to survive and thrive.

Many of my accomplishments have been win or lose situations. For me, second place was not an option. My key to success was to assemble a diverse team of specialized individuals who were experts in their fields. Together, we were able to develop strategies that helped me to identity, address and eliminate my “blind spots”. Executives may want to approach their blind spots similarly. When winning or losing are the only two choices, choose to win.