Archive for Category: Decision-making
McKinsey senior partners and authors Scott Keller and Mary Meaney offer valuable tips about leadership transitions, how organizations can support new executives, and what new leaders can do to flourish in their role. Executive transitions are risky. They can determine the direction and success of the entire organization.
New leaders receive limited support
New leaders often face incredible difficulty and limited help from their organizations. According to McKinsey, only “32% of…global leaders…feel that their organizations appropriately support new leaders.”
The most frequent attempts at assisting new executives – appointing mentors or informal networks for the leader and employing standard orientation programs – are consistently reported as ineffective by these leaders.
Warren Buffett Says Integrity Is The Most Important Trait To Hire For. Ask These 12 Questions To Find It
Warren Buffet is an extremely successful American businessman and someone who has high moral character. Marcel Schwantes, Inc. contributor, explains Buffet’s hiring philosophy in his article that we have summarized, “Warren Buffet Says Integrity is the Most Important Trait to Hire For.”
Buffet believes that integrity is the most important quality to look for when hiring an employee. He states that when someone has integrity, a manager can be confident that they have good judgment,
Great leaders learn to “balance emotion with reason to make decisions that positively impact themselves, their employees, their customers…and their organizations.” Pepperdine University’s Graziadio Business Review in “Great Leaders Are Great Decision-Makers” cites three qualities that leaders must develop in order to make effective decisions:
- Emotional intelligence;
- Emotional self-control and decision-making; and,
- Reigning in emotions for strategic decisions.
[See “Leadership in a crisis” for more on this process.]
It is crucial for leaders to develop the quality of emotional intelligence.
As part of our initiative, Trustworthy: Leading With Your Heart and Mind, we are recommending this article by McKinsey & Company, “Leadership in a crisis: Responding to the coronavirus outbreak and future challenges,” which provides practical steps for leaders amidst the COVID-19 pandemic. McKinsey & Company (McKinsey) is a global leader in change management consulting across many industries.
In a global crisis like COVID-19, leaders “cannot respond as they would in a routine emergency.” Below are five important behaviors and mindsets for leaders during this time of crisis:
- Organize a network of teams to respond to crises
During times of great uncertainty,