Louis Gerstner: An Elementary Management Lesson
Louis V. Gerstner Jr. is a pretty shrewd psychologist.
In this excerpt from Who Says Elephants Can’t Dance?, which details how he turned around IBM, Gerstner echoes Warren Buffett.
I’ve had a lot of experience turning around troubled companies, and one of the first things I learned was that whatever hard or painful things you have to do, do them quickly and make sure everyone knows what you are doing and why. Whether dwelling on a problem, hiding a problem, or dribbling out partial solutions to a problem while you wait for a high tide to raise your boat— dithering and delay almost always compound a negative situation. I believe in getting the problem behind me quickly and moving on.
This is a short post but one that I feel is worthy of reflecting upon. There is a lot to unpack in there.