Summary
Author Matthew Hayward details examples of how hubris, or exaggerated pride, can damage -- if not destroy -- careers and companies. He cites high-profile business leaders like Martha Stewart, Dennis Kozlowski and Jack Welch as examples of celebrated CEOs who self-destructed, or were at least temporarily deflated, as a result of believing their own press and surrounding themselves with "yes" men and women while discounting views to the contrary.
Only weeks after the Segway was finally made available, [Dean Kamen]'s company was forced to recall all 23,500 units it had already manufactured over a safety glitch. Hayward suggests that it was Kamen's overconfidence that got ahead of his product's readiness, and for that he paid an expensive and embarrassing price. Don't kid yourself. Remember the fable about the Emperor's New Clothes? If leaders do not constantly gather bare-truth feedback and properly respond to new information, they are only kidding themselves about their current situation and open themselves up to vulnerabilities.See the full content of this document
Extract
Executive Hubris Propels Leaders, Then Topples Them
DR. JOHN MCFERRAN
CONRAD Black's trial is a reminder of the paradox of success: the self-assurance and bravado that propel many leaders to the top are ultimately what topples them.Overconfidence is rife in the corpo...See the full content of this document
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