Priscilla Archangel, Ph.D.
Managing Risk: Priorities and Decisions
Bob sat down at his desk and let out a huge sigh. He had just returned from lunch with one of the board members at his company. They were preparing for the current CEO to retire within the next 6 months and the board wanted to initiate a formal selection process to confirm Bob as a candidate to replace him. Bob had been with the company for 15 years and held the CFO role for 5 years. It was time to step up. He knew the inner workings of the company as well as challenges in the industry. He also knew that his chances of being selected were pretty good. But there was one nagging issue on his mind. He fundamentally felt that the strategy the current CEO and Board were pursuing wasn’t going to pay off the way they thought. He had shared his concerns in the past but given the politics didn’t feel he could push it too far. Now, if he were to be selected as CEO, he realized he couldn’t lead the organization forward with a strategy he didn’t believe in. He knew that two or three of the twelve board members might support his thinking, but that wasn’t sufficient to make the shift he felt was necessary. And if he declined consideration, he’d have to come up with a really good reason because telling them he didn’t believe in their strategy would call into question his role over the past several years. Continue reading
Six steps to building trust in relationships
While many of us intellectually understand the importance of building trusting relationships, we don’t always demonstrate it.
Consider the case of Cathy. She was recently appointed as VP responsible for relationship management for her firm’s largest client. The interactions between the client and her predecessor became rocky and she must quickly smooth things out and prove that her company can provide value added products and services. The fact that her company was voted by an industry panel as providing “best in class” products doesn’t carry enough weight. It’s all about building a trusting relationship so that the customer feels their needs are being met.
And then there’s Derek. He just joined a major retailer and is tasked with turning around their relationship with their franchisees which has become contentious over the past several years. The company is trying to convince the franchisees to invest money in upgrading their stores and provide new menu options, but he first must restore trust that the marketing strategies will drive traffic and increase revenue. Derek is not fully convinced that the company has the right plans, but he needs to quickly understand their needs and make sure there is proper alignment. Continue reading
Six Tips to Maximize “What’s in Your Hands?”
Capital One has a frequently aired commercial with the tag line “What’s in your wallet?” It conveys the message that if you possess their credit card, you will have greater spending power and ability to acquire the things you want and need. But if it stays in your wallet, and you don’t use it, you won’t activate the power it holds. You need to not only have it, you need to use it.
The same is true for the question, “What’s in your hands?”. We each possess the capability to accomplish great things if we use the passions, perspectives, talents and capabilities in our hands. This includes recognizing our unique blend of thought processes, sensitivities, interests and the environments where they will be most useful. But we must make it a priority to nurture and cultivate these qualities. Continue reading
Four Underlying Motivations to Good Decisions
Pat arrived at the office early. She hadn’t slept well the night before because she was wrestling with an important decision that needed to be made in her Executive Committee meeting that morning. They had been evaluating the development and launch of a new product for the past six months. Today they needed to make a final decision on whether they were going to move forward. The discussions had been thorough yet difficult with wide ranging opinions on what they should do. There was significant risk associated with the launch, but the potential reward could be a greatly improved market share. As CEO, she needed everyone to make a full commitment to the decision, and while the objective analysis appeared to lead the team to adopt it, a number of other issues had arisen, and there was a LOT of debate. Continue reading
Sustainable Leadership: What Happens When the Glue Fails
A key requirement of good leadership is to ensure that the organization and its initiatives are sustainable, both during and beyond the leader’s tenure there. This means that the company’s values, beliefs, goals and objectives cannot be dependent upon a single or few people as the glue holding it together. Situations will inevitably occur where such individuals are no longer a part of the organization, and thus the glue fails.
Business start-ups and transformations are frequently initially driven by individuals who possess the personal characteristics necessary to bring a team together and drive toward a goal. But they must always transfer those qualities to others to sustain the growth of the business. They must multiply themselves throughout the organization, to ensure that the right people are in place to maintain and carry it forward. Continue reading
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