It is important for an effective leader to be a visionary and possess a form of x-ray vision. This can be very challenging in the work environment that exists in today’s world, so a leader must seek out others to provide suggestions and ideas to them. It seems though that there are two types of … Read more
Companies want increased sales and profitability; in essence they want to “move up.” However, there are times when a leader should deliberately keep the company in a maintenance mode or even retrench. There may be several reasons to do this but a savvy leader will know that to move a company forward, it may be … Read more
Failing forward, or learning from what went wrong, is a critical component of having a successful career and being an effective leader. Becoming better from your mistakes, rather than spending all your time focusing on covering them up or defending them, is the key here. As a leader, one must strive to develop a growth … Read more
A sunk cost is one that has already happened and cannot be recouped. The sunk cost effect can occur when people escalate their commitment to a course of action in which they have made substantial prior investments of time, money, energy, or other resources, even though it clearly isn’t working. Since people typically want to … Read more