Leading in turbulent times : lessons learnt and implications by Peter Lorange

By Peter Lorange

Annotation the place greater to benefit approximately management in turbulent instances than from an individual who has been on the coalface for a number of a long time, via solid occasions and undesirable? for far of his company lifestyles, Peter Lorange has had 3 careers working in parallel – as a enterprise educational best the most vital company colleges on the earth, because the head of a transport corporation and as a Board member for several  Read more...

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How could I have missed the signals that warned me that this might happen? Where had I gone wrong? Securing revenue was critical, even though Nestle´ at the time generously covered all IMEDE’s end-of-year red ink. To secure revenue all faculty members had to be ‘‘billable,’’ in other words, teach, ideally a full load. And each faculty member therefore also had to develop a profile that would attract clients (students and firms). How did the professors do this? Partly, they demonstrated their superb handling of various cutting-edge issues through their classroom activities — demonstrating that they were on top of a particular issue both in terms of mastering the latest thinking, typically stemming from their research, and having a good managerial ability to address the issues at hand, through their experiences as practitioner advisers (consultants) and as listeners to classroom participants.

Three things helped stabilize the situation. First, I stood behind radical moves to get things under control from the first day. Second, making decisions that were seen as meaningful helped my reputation. And third, I demonstrated a full-time commitment to change, putting in 12-hour working days, seven days a week. Nobody could argue with my passion to turn BI into a success story. The first thing I did at BI was to ask the faculty to write down what they thought were the three most important things I should be doing, and the three things I should definitely not do — those aspects of the school that I should not tamper with.

The reactive approach 2. Unrealistic specifications 3. Evaluating people in absolute terms 4. Accepting people at face value 5. Believing references 6. The ‘‘Just Like Me’’ bias 7. Delegation gaffes 8. Unstructured interviews 9. Ignoring emotional intelligence 10. Political pressures (Ferna´ndez-Ara´oz, 1999) These are all about you, how you must think about the person you are hiring, and how you must avoid personal considerations that are not in the 40 Leading in Turbulent Times best interest of the organization.

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