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Leadership Failure - Assignment Example

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This essay discusses that many factors, from a leadership perspective, have been accounted for Lehman brothers’ downfall that burst out by the end of 2008. The executive leaders of the institution seemed to be unaware of the market complexities that had changed drastically over the last few decades…
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Leadership Failure
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Leadership Failure

Download file to see previous pages... Many factors, from a leadership perspective, have been accounted for Lehman brothers’ downfall that burst out by the end of 2008. Foremost, the executive leaders of the institution seemed to be unaware of the market complexities that had changed drastically over the last few decades. Leadership can be well executed only if the leaders are proactive with respect to all aspects of the organization and changing behaviors of people, customers, market, and shareholders. Kelly and Csorba’s (2009) extensive report on leadership gaps at Lehman Brothers clearly identifies reasons for its failure. In short, this report points at factors such as leadership autonomy, inappropriate human resource practices, hierarchy versus authority, personal character and values of leaders, inappropriate decisions with respect to alignment of individual goals and objectives with that of organization’s objectives.
Bill George (2008) of Lehman Brothers also pointed at the critical decisions made by leadership that focused on short-term monetary targets and incentives and lack of risk assessment. Incidences of resistance from leadership level towards risk assessment have also been reported in the Lehman’s history. This not only indicates lack of risk assessment but also lack of shared leadership concept that is extremely important to run large organizations (O’Toole, Galbrath & Lawler, 2002). Leaders need to have the courage of taking risks, however, taking uncalculated risks can be the potential threat to the organization at large. Investment in complex and highly uncertain areas were some of the most critical leadership decisions that changed the plight of the organization and all its stakeholders. Leaders need to develop careful judgment of risks and strategize appropriate risk management practices to save the organization when faced with risky situations.  In conclusion, leadership is a quality that an individual must possess, but not limited to fulfilling the individual’s desires, motives, or goals; it is more about taking decisions and doing actions that contribute to the development of business through all people associated with the business.  ...Download file to see next pagesRead More
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