The driving force behind this section is to provide the FP with the context to develop and maintain an effective Gyroscope that will facilitate long-term success and satisfaction. It is not so easy.
In his book “Crisis of Character—Building Corporate Reputation in the Age of Skepticism”[1]—a revealing examination of “how the psychology and culture of corporate life determine both short- and long-term business outcomes”— author Peter Firestein introduces a series of original concepts, including the concept of the “Structural Corruption.”
Structural Corruption is defined as: “A condition, often within an industry, in which standard operating procedure is unethical, imposing difficult choices on well-meaning managers.”
What is particularly striking about Firestein’s perspective is how he captures the evolving requisites of effective corporate leadership. Previously, as espoused by Firestein, business professionals elevated to senior leadership were accustomed to applying proven best practices to achieve specific metrics.
This type of measurable performance is certainly necessary, yet its rigidity does not equip the corporate leader to address complex situations that are ambiguous. Therefore, the leader today needs to accentuate and attenuate his business methodology with his life experiences and personal traits. Integration and balance are musts.
It would seem that this is common sense; yet in an environment where measurable results drive decisions, integrity is often the casualty of pragmatism.
The ability to hit tangible metrics is now as important as the capacity to manage less tangible components of reputation to simultaneously advance business strategies. If you do not have a firm grasp of the concepts of character, this is certainly a slippery slope, especially in light of the intense scrutiny of analysts, investors, media, and government. Character, by definition, need to have the wherewithal and the courage to trump metrics (and even profit) when indicated.
[1] Firestein, Peter. “Crisis of Character-Building Corporate Reputation in the Age of Skepticism.” New York: Union Square Press, 2009