In today’s economic environment businesses are making tough decisions. They are laying off people at a great rate, cutting back on non-essential costs, and pushing through price increases on their customers, all in an effort to improve the overall performance of a business. Banks are a great example of this, they are looking for any way to increase their revenues through new fees and charges while quietly (and sometimes not so quietly) laying off people. These businesses, especially the public ones, have no choice. Their share prices reflect the belief by shareholders in higher and higher returns from these companies.
However, while these changes in an organisation can be difficult for the employees (no one likes to see collegues lose their jobs), senior management often dont cut back on their pay packets or their perks, thereby creating an us and them culture in a business. If senior management don’t walk the talk, they run the risk of undermining the culture of a business.
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For most businesses times are very tough and many of their management are entering an unknown and uncertain world. When this happens, management often call in the consultants. This can be for many reason – management need options, they don’t really know what to do and need help, or in some circumstances are looking for a “fall guy” if things dont improve. While consultants do have a place in helping management, they are not there to replace them. So what is the role of consultants during an economic downturn?
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Here is another question – i must be on a roll
What specific turning points (sudden or gradual) moved you significantly forward along your path moving up the corporate ladder towards becoming a CEO? Secondly, what was the first thing you did coming out of college or grad school that got you set on a path of success/progression? Or, were there initial obstacles that you had to deal with?
So the first question … first!! The biggest turning point was taking a risk. I saw an opportunity to run a company and i made a sales pitch to the board, had the incumbent sacked and took over running the business. I made my own luck. If i had not taken the risk and made a pitch to the board – the safety net would not have appeared and i would not be typing today.
As for the second question – the first thing i did after college was going into sales with IBM. This was a great start as i learned to sell – computers, myself, everything. From this i was able to understand what makes a sales person tick — no sales, no revenues – therefore this is probably the most critical skill i learned.
I also did an MBA and went to work for McKinsey and co for 4.5 years … this is much better than an MBA. Management consulting (for a short period of time) is a great lesson. Too long and you just become so detached from the real world!!!
There you go … some more about me.
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