Seize Your Leadership Day: More On CEO's And The Economy
by Miki Saxon
I have some great links to add to those I gave you last Saturday.
Another article from McKinsey shines a spotlight on managers’ need to “master the disciplines of uncertainty,” because it isn’t going away any time soon.
The market may have torpedoed you and me, but it’s done far less damage to the corner office. “Compensation for top executives at many of the nation’s largest publicly traded firms was essentially unchanged last year, even as the stock market plummeted.” Why are we not surprised?
What has changed? An article in the WSJ Online tells us that COO positions are going the way of the dodo bird because CEOs want to be closer to the action and more involved in day-to-day operations. But Jay Galbraith says, “One unspoken reason COOs’ numbers may be falling may be simple fear. As the pressure on CEOs heats up, at least a few simply don’t want such an obvious successor in place.” Again, why are we not surprised?
Economics is one of the few business area that make my eyes glaze over; not from boredom, but from an inability to understand it—believe me I’ve tried. Last week I said that How Did Economists Get It So Wrong? is a must read to understanding what happened to the global economy. For those who wish to dig deeper, two new books on the oft-maligned John Maynard Keynes were reviewed in Business Week (they do understand economics:). “John Maynard Keynes ought to be named Man of the Year. Governments around the world have successfully, if messily, resurrected many of his insights from the 1930s to thwart economic collapse. Foremost is his idea that easy money and government spending can rescue an economy in free fall—with credit frozen, businesses panicked, and consumers paralyzed.” I’m sure this won’t be popular with the free market crowd.
Enjoy!
Your comments—priceless
