These are the 7 habits of unsuccessful executives: They see themselves and compa

Question

These are the 7 habits of unsuccessful executives:

They see themselves and companies as dominating their environment.

They identify so completely with the company that there is no clear boundary between their personal interests and the corporation’s interests.

They think they have all the answers.

They ruthlessly eliminate anyone who isn’t 100 percent behind them.

They are consummate spokespersons obsessed with the company image.

They underestimate obstacles.

They stubbornly rely on what worked for them in the past

Discuss these seven habits, what they mean to you, and any examples you may have of experiences.

Explanation / Answer

Habit of feeling to be dominant brings complacency in the executives. It leads them to be unaware of the changes taking place in the business environment and make the downfall of the organization. The habit of mixing the personal interest and not setting the boundary of differentiation from the organizational objectives, will create an agency problem and organization will suffer. Here, the Behavioral decisions making overcomes the rational decision making process. The habit of getting all the answers and holding myopia makes the executives to be dissociated from the reality and they fail miserably. It also combines with the complacency. The authoritarian approach of the executives and not listening to those having other ideas, add to the unpopularity and one dimensional decision. While following this habit, good advices are also overlooked, not a good sign for the organization. The obsession with company image and acting as a spokesperson can bring critics to the policies and underestimation of the obstacle reflect the overconfidence in solving problems. It adds to the difficulties to the organization. Further, over-reliance upon what worked in the past show that executives don’t want to learn and still rely upon the old techniques.
All these habits combine together that make the executive to be subjective, full of myopia, overconfident in himself and understating the others as well as disconnected from the team. It also invites ethical issues in the organization and the organization suffers. For example, the management of Enron, wolrd.com and Arthur-Anderson as well as Lehman Brothers exhibited these habits (if not all, then few) in different forms that put the organization to fall.
For me, these habits tell a lesson for any management aspirant regarding what to do and what not to do to succeed. It gives lessons that nobody takes a perfect decision, no market condition is permanent and speak less and do more are some of them for me and any other person willing to hold higher management position.

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