What Makes Your Company's Leader Special?
Companies spend huge bucks on leadership development, only to get lukewarm results. Why? They rely on leadership competency models identifying generic traits (vision, direction, energy), then develop leaders who fit the model. Result? Vanilla executives who aren't equipped to manage their firm's unique challenges.
There's a better way: Build a shared identity among your company's leaders that differentiates what they can do from what rivals' leaders can do. First articulate what you want your firm to be known for by your best customers. Then link those qualities to specific managerial traits. For example, Wal-Mart wants to be known for its everyday low prices. So it develops frugal managers who drive a hard bargain.
Today's Management Tip of the Day was adapted from the HBR article, "Building a Leadership Brand," by Dave Ulrich and Norm Smallwood.
July 22, 2008; 8:00 AM ET
Management Tip of the Day
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