Archive for the ‘Reputation’ Category
Crisis Mis-Steps: Lessons from Société Générale
A second theme is that an effective response is often delayed by predictable mis-steps. Logos Institute has catalogued ten missteps that seem to be the common denominators of mis-handled crises. These ten missteps constitute predictable patterns that can be identified early and overcome, if only you know what to look for. One of these missteps is to ignore a problem that is otherwise evident.
A third theme is that these missteps are often caused or intensified by lack of humility among decision-makers.
These three themes were brought into sharp focus in today’s (Feb. 5, 2008) New York Times, whose business section has a detailed account of the missed warning signs at Société Générale, the French bank where a rogue trader cost the bank more than $7 billion.
Little Droplets of Humility
“Crisis management is the new black!” A good friend recently shared that revelation with me via email. I had to laugh, not only because I enjoy a witty fashion metaphor, but because I’ve also enjoyed watching crisis management come of age in the public consciousness. Even in this era of distrust and information saturation, people are warming up to the power of the sincere apology – a step toward redemption requiring that dollop of humility my partner Fred Garcia writes about. More and more, people are welcoming the forward arc of emotionally-intelligent, collaborative leadership on a global scale. Absolutely fabulous, I say!
Where Will Our Digital Footprints Lead?
The current run of presidential primaries, and the surprising (to some) results so far, has me thinking further ahead - not about the elections of ‘08, but about the elections of say, 2024, when today’s college students will first become eligible to run for presidential office.
Specifically, how will the digital footprints left by today’s younger generation affect the leaders of all types - political, business, social - of tomorrow? How will elections and interviews for top jobs be different when everyone will have the opportunity to parse the candidate’s Facebook (or other) profiles and blog entries from their early years? Real life reputational effects of online behavior are absolutely already being felt, but the effects of the accumulation of years of online history have yet to be seen at the highest levels of leadership.