Survive and Thrive: The Importance of Leadership

“Management is doing things right; leadership is doing the right things.” -Peter F. Drucker During this economic downturn, core assumptions in the financial services marketplace have come into question and the extraordinary uncertainty continues to dominate headlines. Such headlines have largely targeted financial errors that spurred the recession and have contemplated what needs to change to ensure such errors are not repeated. The focus has been less on what has been accomplished with occasional mention of just how important leadership and management are to the continued success of any institution. These indeed are not ordinary times and few predicted the current economic environment. External factors have certainly played a role in present challenges, but they are not the sole cause. We cannot simply wait for asset quality to magically improve and/or earnings to return. Sustainable strategies for long-term profitable growth with leadership that ensures execution remain the key determinants.

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Length: 2 pages (PDF 97 kB)