Despite Liz Truss’ record-setting brief tenure as prime minister of the U.K.—or because of it—there are several leadership lessons that corporate executives can learn from the British politican who resigned today.
Despite Liz Truss’ record-setting brief tenure as prime minister of the U.K.—or because of it—there are several leadership lessons that corporate executives can learn from the British politican who resigned today.
“Executives who are new to their role would be wise to avoid drastic changes within the first few weeks of leadership,” Stacy Rosenberg, an associate teaching professor at Carnegie Mellon University’s Heinz College, said via email.
“ It takes time to consult with advisors and build a coalition that can implement a plan. Moving too quickly without the input of experts or stakeholders demonstrates a lack of restraint and leads to unnecessary risk-taking.
“Establishing financial stability is a critical initial step when taking charge, particularly in a weak economy. Financial markets get spooked by sudden reversals. Leaders need a steady course, not a turnaround. Backtracking on decisions causes confusion and confusion creates panic in the markets,” Rosenberg observed,
“You must balance the need for change with the human need for stability,” Jonathan Kirchner, an executive coach, business psychologist, and founder and CEO of AIIR Consulting.
“Too great a change made too quickly, and your followers lose track of your core platform. They may even become so overwhelmed by the magnitude of change or the poor timing they immediately reject it.
