Friday, November 14, 2008

Changes for CEOs

I came across an interesting article today in Fortune Magazine discussing the effect of the financial crisis on corporate leadership. In a time where many are worried and anxious about the future and afraid to make the wrong decision, Jim Collins, author of "Good to Great" takes an alternative view saying that "a crisis is a terrible thing to waste."

Leadership styles have gone through a number of changes over the years, and we are at the beginning of yet another change. Jennifer Reingold, a senior writer for Fortune Magazine believes this new type of leadership is a good thing. "It's a leadership approach better suited to this interconnected, ever more turbulent world."

This new type of leader will have to be comfortable asking questions, asking for help, and even admitting when they do not understand. I agree with Reingold in that this new leadership style is a good thing for corporate America. So many businesses have been separated from the human aspect of leadership. Considering how "we took the complex nature of leadership," says management thinker C.K. Prahalad, "and converted it into a single metric by basing compensation on the stock price," it's no wonder our approach to leadership needs a change.

So, for all of today's CEOs, leaders, and recent and soon-to-be college graduates, be aware of the changing style of leadership. This could be an excellent opportunity for you to take the reins and show corporate America the way - if you are up for the challenge.

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