Captains of industry
Posted on December 22, 2008
The true test of a ship’s captain isn’t how well he handles the ship in calm seas. The real test of a captain is how well he handles a ship during a storm.
Thinking about the multimillionaire or billionaire CEO’s whose companies are seeking government handouts, it’s possible many of them aren’t very capable at the helm. They might look good on paper if their companies were prosperous during good times, but that’s because they were able to float on the currents of a buoyant economy. The storm has come and it’s time for the executives to show their value. Will they be able to navigate the perilous straits with their companies intact, or will they wind up on the rocks? Are they the rats who leave a sinking ship, knowing it’s in trouble, or are they the captains who go down with the ship, because they bound their fate to that of the ship?
Even good captains can have bad outcomes, but as leaders they are thoughtful enough to know their decisions can affect thousands of employees, customers, and vendors. They know the consequences of bad decisions, and will keep trying to right the ship, even if it’s a lost cause.
A rat, however, thinks only of itself and can’t be trusted. They keep working as long as the money’s good, and need bonuses as motivation to do their jobs. Maybe they don’t understand bonuses ? entitlements. If a CEO requires bonuses to stay on board, the company is probably better off with someone else at the helm.
If the CEO’s can guide their companies through the turbulent seas of the global economy until they reach calmer market conditions, then those CEO’s should be rewarded for their skill. Bonuses and perks should be given to those who’ve earned them, and merely occupying a chair (CEO, COO, etc) shouldn’t be enough to earn a bonus.
Given the current economy, success will be measured by survival, not by the bottom line.
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Tagged with: economic recovery, economy, leadership, motivation
