Leadership is not about finding a parade and getting in front; it's about creating a parade people want to follow!
Whether you are a leader of a small business or large corporation, leading during tough times is hard work. But hard does not mean impossible. It does, however, require a laser-like attention to detail and a hands-on shift from "business as usual." Profitability must be maintained to ensure your company can make it through an economic downturn, and leaders must take proactive, bold and decisive steps to achieve it.
With messages of doom and gloom permeating the news, it's easy to believe everyone is struggling to maintain profitability. And although there are companies and industries in serious economic crisis, many others continue to thrive and are poised for growth.
So what sets the two apart? According to results from a Bloomberg Businessweek.com/Hay Group 2009 Best Companies for Leadership survey, leadership is clearly linked to positive financial results, with the Top 20 Companies for Leadership consistently outperforming the S&P 500 by significant margins."The best companies for developing leaders recognize the value of strong leadership in both the good times and the bad," says John Larrere, national director of leadership and talent at Hay Group. "Culturally, they just cannot do away with leadership development, even in a recession. They don't see it as a perk but as a necessity." Effective business leadership is essential to a company's survival and is the key to its long-term success and profitability. Companies that place little emphasis on leadership development struggle to maintain profitability when key leadership departs, while top companies understand the importance of investing in leadership training and development. In her article "How Companies Develop Great Leaders," Patricia O'Connell writes that there is a sense of urgency to develop leaders in the best-led companies and that these companies actively manage a pool of successors for mission-critical roles. Jayne Johnson, GE's (GE) director of leadership education, comments, "Our culture is committed to leadership development....Today more than ever, we need our leaders going to Crotonville
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV