Overcoming The Crisis Will Take Strong, Ethical Leadership
Managers consumed with maximizing short-term profits - and with them, the value of their stock options - rather than creating real, sustainable value have destroyed billions of dollars in shareholder and taxpayer money. A culture of unrestrained greed lies at the root of the current economic meltdown that has seen banks collapse, markets tank and unemployment rates soar. The global catastrophe demonstrates the enormous responsibility business leaders hold, not only in their companies, but in society at large. Managers are entrusted with incredible power to create or destroy value, and in so doing, affect the lives of thousands if not millions of people. This is a power that should not be taken lightly and, as with medical or legal professionals, requires professional.