Executives often make similar mistakes and then suffer from inertia
Business leaders often complain that despite all their efforts to improve their companies, little seems to change. One reason could be that certain colleagues are not working as hard as those who are constantly pushing for change. Another reason could be that executives have failed to invest in their firm or their employees. Skills must be built and continually reinforced and investment in the company will usually pay back.
Ineffective delegating can be another reason for the lack of progress in a company. It’s hard to move a company forward when the executives are still embroiled in daily operations. The key is for executives to let go and get the employees in the lower tiers of the organisation work for them.
One more typical problem is not having a specific destination or target constantly in mind. It’s a good idea for execs to look at their business every six months, something that will allow them time to make corrections and avoid reaching the same destination over and over again. Finally, a common error at the executive level is not implementing recommendations that are made by clever subordinates.
[pictured: meeting room at the Helsinki Exhibition & Convention Centre, courtesy IHG]