Business Transformation Requires Transformational Leaders

The current financial crisis has a lot to say on many subjects, which is why its epitaph will take years and many authors to write. Like many cautionary tales, some lessons are available for learning immediately; the story of risk happens to be one of them.

A close professional ally of mine, LeRoy Ward, recently completed the third edition of his Dictionary of Project Management Terms. At the same time (and on a seemingly unrelated note), our family adopted two kittens.

There are many buyers and sellers of outsourcing services in the developed countries. Buyers have choices with whom to buy and under what conditions. Sellers are free to choose their clients and what to charge.

I've been conversing with colleagues. Some are CIOs in traditional industries, some are entrepreneurs, some are in nonprofits, some in international businesses, and some smack dab in the middle of the financial meltdown. Some are front-line managers, some are middle-level, and some are precariously high. They can feel the ground shaking.

The last eight weeks have been fascinating to watch -- at least from a cold-eyed appraisal perspective of how ineffective risk mitigation efforts have been in slowing down -- let alone stopping -- the financial contagion that has spread across the globe.

While much has been written about organizational learning and knowledge, it is still a mystery for many firms. The old school of planning and designing change is under attack. One could argue that planning, especially long-term planning, does not improve agility. For environments that are dynamic and complex, events can unfold in unpredictable ways, upsetting even the best plans.

Some people seem to have their best ideas in the shower; mine seem to come on bike rides. In thinking further about leadership traits (in an earlier Advisor), I realized I needed to add a third.