There are seven categories of liabilities all new managerial appointees must overcome, regardless of whether they are a new CEO or a new department manager. This paper aims to identify them and offer an action plan for rapidly overcoming them.
These liabilities are the preconditions that act as obstacles to effective leadership and strategy implementation. Junior and middle managers in the banking and finance sector were surveyed about their managers' ability to lead them and what makes them recognize and follow a leader.
Because the liabilities are interdependent, their effects can be additive and the relationships not always directly visible.
The bottom line message: awareness and a plan for rapid plan are essential to resolution of the seven interdependent liabilities.
To overcome the seven liabilities, leaders can adopt a set of key practices shown in this paper.
Emerald Group Publishing Limited
Copyright © 2009, Emerald Group Publishing Limited