For a company to be truly effective and successful, it must have strong leadership. It doesn’t matter whether the company is large or small.
In today’s competitive business climate, it is imperative for a company to have strong leaders. Unfortunately there are a lot of businesses today that have not been able to put together a strong leadership team. Because these companies are lacking strong leadership, there are not generating the type of sales and profits that they need. These companies are lacking people with vision, and they also don’t have anyone to make critical decisions. Some of these critical decisions could be related to making timely acquisitions or launching new product lines. And you know the old saying, if a company lacks vision and leadership it doesn’t have much of a future.
One company that has struggled with finding the right leadership is Apple. When Steve Jobs was initially ousted from Apple in 1995, the company started experiencing problems. This included lacking strong leadership. Jobs had co-founded and built Apple from the ground up, so a lot of his personality and ideas were grounded in the company. Because of this, many employees felt lost when he left. Although the remaining management tried to move the company forward, they were not successful. Things got so bad that the company was almost on the verge of bankruptcy. In 1997 Jobs was asked to return to the company as an advisor, and by 1998 he was named the interim CEO. One of the first things Jobs did upon his return was to assemble a strong management team and eliminate all unprofitable products. As a result of these steps, he was able to make the company profitable again.
Fast forward to today and we see Apple struggling with leadership issues again. Although many in the industry feel that current CEO Tim Cook has done a good job, they still feel he lacks the vision and leaderships skills that Jobs had. In order to strengthen the company’s vision and leadership team, Cook recently hired Burberry’s former CEO to head the company’s retail division. Time will tell if this move will be good for the company.
Another thing that happens when a company lacks leadership, is that the company starts losing its key talent. Those is because those with a high level of talent and experience do not want to be associated with a sinking ship. Instead they will start seeking a position with a company that has strong leadership and vision. And if they don’t find one, they will start their own company.
The bottomline is that a company will soon find itself in financial and personnel trouble if it doesn’t have strong leadership.