How Much Poor Leadership Costs Youposted by Anna Mar, May 06, 2013
Poor leadership can cost you everything.
That's right. Your entire budget can all go down the drain due to poor leadership.
That's why organizations spend over $100 billion a year globally on leadership training and development.
There are 8 ways that poor leadership can burn money:
1. Doing the wrong thing rightA leader successfully executes a strategy that shouldn't be executed at all.
2. Short term success for long term failureA leader who executes a short term strategy that has negative long term consequences.
3. Alienating employeesA leader who fails to motive employees. Previously productive staff become disengaged or hostile to the organization.
4. Inability to deliverA leader who invests in programs and projects that never deliver any value.
A few failed projects isn't necessarily the mark of poor leadership. In fact, failing quickly and cheaply can be an effective leadership strategy.
That being said, failed projects cost organizations hundreds of billions of dollars each year. When a leader can't deliver it's painful for an organization.
5. Damages your firm's reputationLeaders who display questionable judgment or ethics that lead to a reputation disaster for your firm.
6. Establishes a culture of bad leadersLeaders often recruit like-minded leaders who they know. One bad leader can lead to an army of bad leaders.
This is the first in a 9-part series of posts called how to win at leadership.
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