How to face up to your mistakes
Nobody's perfect, but leadership can be defined by how you handle mistakes and shortcomings, writes Paul LaRue. If you let your temper get the better of you, or are unduly harsh with an employee, it's important to step up, admit your mistakes and make amends. "Go to the issue, no matter how painful it may be. Only then can everyone start to move forward as a team," LaRue writes. LeadChangeGroup.com (4/11)
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The problem with golden parachutes
Executive severance packages, or "golden parachutes," were originally intended to help leaders make decisions that were right for their companies even if it cost them their jobs. Over the years, however, payments have become inflated and detached from their original purpose, writes Sanjay Sanghoee. "From a pay-for-performance standpoint, parachutes actually offer a disincentive for executives to do their best for a company," he warns. CNNMoney/Fortune (4/11)
Can Coca-Cola rediscover its sparkle?
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Kent (Bloomberg via Getty Images)
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Coca-Cola's U.S. sales are waning, and CEO Muhtar Kent is focused on restoring soda sales through added advertising and marketing. Some predict that Coke will eventually have to focus on other categories, such as energy drinks, as consumers grow increasingly health-conscious. "Sugar water with bubbles is not the future of the world. There's an existential issue," warns industry consultant Tom Pirko. Upstart Business Journal (4/10), The Wall Street Journal (tiered subscription model) (4/9)
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A crash course in crisis communications
Communication is key for companies in turmoil, writes Andrea Lekushoff. Leaders should be activating planned crisis strategies, not trying to create one in real time, and should have management and communications teams informed about what's going on and what it could mean. "Don't try to stall people or avoid them outright -- they will simply look for information themselves which may be inaccurate," Lekushoff writes. HuffingtonPost.ca (Canada)/The Blog (4/9)
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Innovation and Creativity |
A chicken sandwich? That'll be $50 million, please
Chick-fil-A is introducing a recipe for grilled chicken products after an innovation process that took seven years and cost more than $50 million. Creating the sandwich required developing ovens capable of grilling meat without drying it out, installing the equipment in 1,775 restaurants, and testing more than 1,000 recipe variations. Bloomberg Businessweek (4/11)
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Engage. Innovate. Discuss. |
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Do you have socks appeal?
Snazzy, brightly colored socks are considered by many the perfect complement to suits or sweatpants, to startups in Silicon Valley or executives on Wall Street and beyond. "Folks are showing their power, their bravado in the boardroom. The louder the socks, the bigger the wallet," says stylist Lauren Rothman. Quartz (4/13)
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More business insights from SmartBrief
SmartBrief on Leadership each day features our SmartBlogs network. Here are just some of the other leadership insights recently published:
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It is much easier to be a hero than a gentleman."
-- Luigi Pirandello,
Italian writer
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