Conventional wisdom teaches that leadership is about looking forward. We are all taught that leading means creating a compelling vision for the future and inspiring others to follow us into that future. While I fundamentally share this view, I believe the past plays a critical role in how we lead. Leaders must be able to look back. We must learn lessons from our own experiences and from the experiences of those who came before us.
Philosopher George Santayana said, “Those who cannot remember the past are condemned to repeat it.” His words are especially true in the context of leadership. Either we can learn from the past, or we can continue to commit the same blunders. Many leadership “experts” argue that the problems and challenges facing today’s leaders require new leadership attributes. I contend that the attributes never change. How we use them may change, but the attributes remain constant.
Hi there! This article is available for free. Login or register as a StrategyDriven Personal Business Advisor Self-Guided Client by:
Doug Moran has more than twenty-five years of leadership experience in a variety of industries. Doug is the author of the forthcoming book, If You Will Lead: Enduring Wisdom for 21st-Century Leaders. He founded IF YOU WILL LEAD, LLC to help leaders and organizations reach their fullest potential. The firm focuses on leadership development, organization excellence and information technology. His book, speaking, and consulting leverage the power of story-telling and enduring wisdom to help leaders and their organizations excel and grow.
https://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.png00StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2010-10-20 06:13:392016-02-01 14:24:30Leading by Looking Back
An organization’s limited personnel resources necessitates that its business performance assessments be performed in the most efficient manner possible. While at times there may be the need for an in-depth end-to-end process review, at other times it will be appropriate to examine performance of a specific task or activities by numerous performers from across the organization. On these occasions, the horizontal cut assessment approach is most appropriate.
Hi there! Gain access to this article with a StrategyDriven Insights Library – Total Access subscription or buy access to the article itself.
Subscribe to the StrategyDriven Insights Library
Sign-up now for your StrategyDriven Insights Library – Total Access subscription for as low as $15 / month (paid annually).
The Dodd-Frank Wall Street Reform and Consumer Protection Act represents the most sweeping change in the regulation of the U.S. financial industry in over half a century. Contained with the act are 243 new rules that will be developed by 11 different government agencies1; fundamentally reshaping how business is done at financial and non-financial institutions. But do these regulations treat businesses fairly and equitably or do they establish an unfair environment that favors a select few?
StrategyDriven believes the answer to this question is the latter. Not only does the Dodd-Frank Act create an unfair advantage for some businesses, the advantages provided favor those companies responsible for the meltdown of the U.S. financial system.
The financial reform act directs absolute rather than scaled coverage in its implementation. Subsequently, small institutions will be subjected to the same regulatory rules as larger ones and those ‘too big to fail’ institutions responsible for our financial marketplace challenges. While the various audits and forms will inevitably have fewer $000s, the cost to perform these reviews and compile and submit these documents will be roughly the same. For small financial institutions, the high cost of compliance will be passed on to a relatively smaller customer base causing a disproportionally high increase their customers’ fees which will in-turn drive these individuals to the ‘too big to fail’ institutions… the very same institutions whose poor performance necessitated the legislation in the first place.
“Small banks, forced to use their limited resources to comply with burdensome new reporting requirements, will suffer, as will the communities they serve.”2
Bob Corker
United States Senator – Tennessee (R)
StrategyDriven Recommended Practices
StrategyDriven believes the Dodd-Frank Act unduly penalizes small financial institutions not responsible for the financial meltdown of 2008. The full scope of the marketplace imbalance created will take years to be understood as the final details of the many new regulations will not be defined anytime soon. Thus, company leaders must remain vigilant in order to mitigate, transfer, or eliminate the evolving financial industry risks and costs facing their organizations. In this specific case, StrategyDriven suggests company leaders consider the following:
Follow the FDIC’s rule making process and understand how these new regulations are impacting financial institution partners; focusing on the changing costs of doing business with these organizations particularly if they are relatively small.
Consider whether the relatively higher cost associated with doing business with smaller banks is warranted given other beneficial factors such as community good will.
Provide financial advisory programs to employees; ensuring they are apprised of the costs and benefits of maintaining a relationship with both small and large financial institutions.
As always, we’ll provide our thoughts on how business leaders can best prepare for the implementation of the financial reform law and weather the storm in the long-term. We also hope you’ll share your thoughts, lessons learned, and recommended resources with us and the StrategyDriven audience.
Final Request…
The strength in our community grows with the additional insights brought by our expanding member base. Please consider rating us and sharing your perspectives regarding the StrategyDriven Editorial Perspective podcast on iTunes by clicking here. Sharing your thoughts improves our ranking and helps us attract new listeners which, in turn, helps us grow our community.
Thank you again for listening to the StrategyDriven Editorial Perspective podcast!
https://www.strategydriven.com/wp-content/uploads/Base3000x3000-SDEPP.jpg30003000StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2010-10-18 06:07:342016-06-11 16:12:45StrategyDriven Editorial Perspective – Expanding Uncertainty in the U.S. Financial Sector, part 5
Executive Vision is a five part series created by CNBC and sponsored by Credit Suisse. Within each episode, Melissa Francis, Simon Hobbs, and a group of distinguished guests discuss what it takes to be a visionary leader; guiding their companies to success within the rapidly changing global marketplace.
Distinguished Guests
Sir Bill Castell, The Wellcome Trust Chairman
Dr. Bill Frist, Cressey & Co. Partner and Former United States Senate Majority Leader
Bill George, Harvard Business School Professor Of Management and Former Medtronic Chairman & CEO
Jeffrey Kindler, Pfizer Chairman & CEO
Gerard Kleisterlee, Philips Chairman & CEO
David Snow, Medco CEO
Myrtle Potter, President and CEO of Myrtle Potter & Company and Former Genentech COO
https://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.png00Nathan Iveshttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngNathan Ives2010-10-16 22:56:572016-05-13 16:03:35Executive Vision – The Blueprint for Breakthrough Leadership: Health Care
A VETERAN OWNED SMALL BUSINESS | Call or text now for a FREE consultation: +1 (770) 765-3692 | Website Login
Business Programs
Leading by Looking Back
/in Management & Leadership/by Doug MoranConventional wisdom teaches that leadership is about looking forward. We are all taught that leading means creating a compelling vision for the future and inspiring others to follow us into that future. While I fundamentally share this view, I believe the past plays a critical role in how we lead. Leaders must be able to look back. We must learn lessons from our own experiences and from the experiences of those who came before us.
Philosopher George Santayana said, “Those who cannot remember the past are condemned to repeat it.” His words are especially true in the context of leadership. Either we can learn from the past, or we can continue to commit the same blunders. Many leadership “experts” argue that the problems and challenges facing today’s leaders require new leadership attributes. I contend that the attributes never change. How we use them may change, but the attributes remain constant.
Hi there! This article is available for free. Login or register as a StrategyDriven Personal Business Advisor Self-Guided Client by:
Subscribing to the Self Guided Program - It's Free!
About the Author
Business Performance Assessment Program – The Horizontal Cut Approach
/in Business Performance Assessment Program, Premium/by StrategyDrivenHi there! Gain access to this article with a StrategyDriven Insights Library – Total Access subscription or buy access to the article itself.
Sign-up now for your StrategyDriven Insights Library – Total Access subscription for as low as $15 / month (paid annually).
Not sure? Click here to learn more.
Don’t need a subscription? Buy access to Business Performance Assessment Program – The Horizontal Cut Approach for just $2!
StrategyDriven Editorial Perspective – Expanding Uncertainty in the U.S. Financial Sector, part 5
/in StrategyDriven Editorial Perspective/by StrategyDrivenStrategyDriven believes the answer to this question is the latter. Not only does the Dodd-Frank Act create an unfair advantage for some businesses, the advantages provided favor those companies responsible for the meltdown of the U.S. financial system.
The financial reform act directs absolute rather than scaled coverage in its implementation. Subsequently, small institutions will be subjected to the same regulatory rules as larger ones and those ‘too big to fail’ institutions responsible for our financial marketplace challenges. While the various audits and forms will inevitably have fewer $000s, the cost to perform these reviews and compile and submit these documents will be roughly the same. For small financial institutions, the high cost of compliance will be passed on to a relatively smaller customer base causing a disproportionally high increase their customers’ fees which will in-turn drive these individuals to the ‘too big to fail’ institutions… the very same institutions whose poor performance necessitated the legislation in the first place.
“Small banks, forced to use their limited resources to comply with burdensome new reporting requirements, will suffer, as will the communities they serve.” 2
Bob Corker
United States Senator – Tennessee (R)
StrategyDriven Recommended Practices
StrategyDriven believes the Dodd-Frank Act unduly penalizes small financial institutions not responsible for the financial meltdown of 2008. The full scope of the marketplace imbalance created will take years to be understood as the final details of the many new regulations will not be defined anytime soon. Thus, company leaders must remain vigilant in order to mitigate, transfer, or eliminate the evolving financial industry risks and costs facing their organizations. In this specific case, StrategyDriven suggests company leaders consider the following:
As always, we’ll provide our thoughts on how business leaders can best prepare for the implementation of the financial reform law and weather the storm in the long-term. We also hope you’ll share your thoughts, lessons learned, and recommended resources with us and the StrategyDriven audience.
Final Request…
Thank you again for listening to the StrategyDriven Editorial Perspective podcast!
Sources
Podcast: Play in new window | Download (Duration: 5:49 — 8.0MB)
Subscribe: RSS
Executive Vision – The Blueprint for Breakthrough Leadership: Health Care
/in Practices for Professionals, Resource Management/by Nathan IvesExecutive Vision is a five part series created by CNBC and sponsored by Credit Suisse. Within each episode, Melissa Francis, Simon Hobbs, and a group of distinguished guests discuss what it takes to be a visionary leader; guiding their companies to success within the rapidly changing global marketplace.
Distinguished Guests
Leadership Inspirations – Inspire Others
/in Leadership Inspirations/by StrategyDrivenJohn Quincy Adams (1767 – 1848)
6th President of the United States