Triple Crown Leadership

Triple Crown Leadership

Tag Archives: ethical

The Ethical Challenges Faced by Leaders

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  Image credit: Public Domain  “Divorced from ethics, leadership is reduced to management and politics to mere technique.” -James MacGregor Burns We all face ethical challenges and dilemmas, and all the more so if we lead. Think how you would act in the following scenarios: You give the cashier a $10 bill, and she gives you change for a $20. You realize it in the parking lot. Do you trudge back and give her the money? You incur some personal charges on a business trip. Do you fudge some expenses to help cover these costs? Do you overestimate your charitable contributions on your tax form to minimize your reported profit and taxes. Your boss asks you to cover for him with some false excuse while he is absent from work   …Continue Reading


The Dangers of Toxic Micro-Cultures

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Image credit: Painting by Leah Saulnier www.paintingmaniac.com   Does your organization have some toxic micro-cultures? If so, you ignore them at your peril. Much is written these days about the importance of culture in boosting an organization’s success. Strategy is important, as are talent, business models, innovation, and more. But culture, “how we do things here,” as we like to define it, can be the trump card, because it permeates everything in an organization. Culture is what people do when the boss is not around. Wise leaders craft the culture purposefully and make the desired behaviors explicit and clear. Culture can have a big impact on whether people act ethically, honorably, and responsibly. For example, when direct supervisors were observed to behave unethically: 42% of employees felt pressure to behave   …Continue Reading


A New, Overarching Goal for Boards

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One of the painful results of boards embracing the goal to “maximize shareholder value” is shown in the Edelman Trust Barometer: Only 53% of respondents trust business Only 18% of the general population trust business leaders to tell the truth The overarching goal for corporate boards should not be to maximize shareholder value. Instead, boards should set as their primary objective to: Build an excellent, ethical, and enduring organization. Excellent means achieving extraordinary results for customers, employees, and shareholders. Ethical means achieving those results the right way, with integrity, not cutting ethical corners. Enduring means achieving those results sustainably, being conscious of the firm’s impact on the planet, and acting responsibly to ensure precious resources are not wasted. Enduring also means acting sustainably inside the firm, not burning people out, nor   …Continue Reading


Transparency Builds Trust

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iStock Photo Let’s consider two otherwise identical firms. Rocket Corp. issues their quarterly earnings press results, focusing on their financial results. Then they conduct their quarterly conference call with investors, reporting their revenue, margins, profitability, cash levels, and citing their revenue and earnings guidance for the next quarter and year. They take questions from those investors on the call and then put the directives out to the management team that: “This is what we have to do to make the numbers for the quarter, otherwise our stock will be hammered.” Endurance Inc. also issues a quarterly press release and conducts an investor conference call, but in addition to the same financial data that Rocket Corp. issued (excluding earnings guidance), they report many additional metrics: Customers: Revenue and market share details   …Continue Reading


The Triple Crown of Leadership

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  The sports world is abuzz with excitement. We may have our first Triple Crown winner since 1978, when Affirmed captured what has been called “the most elusive championship” in all of sports. California Chrome is poised to accomplish this incredible feat on June 7 if he can win at Belmont Park. This unlikely horse, bred in California for only $10,000 with a 77-year-old trainer, has won his last six races. Since 1875, only eleven thoroughbreds have won the Triple Crown, including such iconic names as War Admiral, Whirlaway, Citation, Seattle Slew, and of course, perhaps the best of them all, Secretariat. Pictured above, Secretariat won the final leg of the Triple Crown, the Belmont Stakes, in 1973 by a world-record 31 lengths in a time that has yet to   …Continue Reading


Tilts: Short- vs. Long-Term?

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Some people wonder whether triple crown leadership requires giving equal priority to “excellent,” “ethical,” and “enduring” considerations.   Many ask, “Don’t we have to sometimes tilt toward the short-term results just to survive, thereby, sacrificing the long-term?” Others may wonder, “In my business everyone is cutting ethical corners. How do we survive?” Of course, sometimes temporary “tilts” are required between the “three Es.” Sometimes short-term considerations must take precedence in order to save the organization. Heavy criticism may follow, but it will be moot if the organization goes out of business. At other times, the reverse is needed: leaders must be willing to dampen expectations for short-term results to make the critical, long-term investments needed. In each case, it is essential to be transparent, explaining to all stakeholders the rationale   …Continue Reading