Consider this fact: the current worldwide economic crisis is not a natural phenomenon. Instead, it is one that is man-made. And, as such, it only became a reality because self-serving individuals were not identified and prevented from their now infamous destructive actions as managers and leaders. Here they absolutely failed to effectively execute their accountabilities.
Why did this occur? More importantly, what can be done now AND in the future to minimize risk for re-occurrence? Warren Buffet recently pointed out, people tend not to apply the lessons of history but repeat their errors time and again.
One of the two root causes of ineffective leadership is simply that too many individuals in such positions do not possess or demonstrate the required capabilities for managing people, processes, problems, decisions, tasks and communications. Our work at Life Associates has typically identified that no more than 20% of manager-leaders (MLs) are considered to be effective by the employees reporting to them.