The Seven Habits of Spectacularly Unsuccessful Executives

Sydney Finkelstein researched why 50 former high-flying companies failed, and defined the Seven Habits of Spectacularly Unsuccessful Executives (SUEs) . . .

Habit # 1: SUEs see themselves and their companies as dominating their environment
SUEs vastly overestimate their influence over events and vastly underestimate the role of chance and circumstance in their success. They believe that everyone else in the company is there to execute the SUE’s personal vision for the company.
Warning Sign for #1: A lack of respect

Habit #2: SUEs see no boundary between their personal interests and their corporation’s interests
SUEs use their companies as private empires, and act as if they are king of their own country, free to spend any amount they choose on themselves.
Warning Sign for #2: A question of character

Habit #3: SUEs think they have all the answers
All executives have to develop rapid decision making skills, handle many crises simultaneously, and quickly size up situations that have stumped everyone else for days. But SUEs only listen to their own words, shut out other points of view and are closed to learning anything new at all.
Warning Sign for #3: A leader without followers.

Habit #4: SUEs ruthlessly eliminate anyone who isn’t completely behind them
By eliminating all dissenting and contrasting viewpoints, SUEs cut themselves off from reality. And with only yes-men left, who’s there to warn them that the world’s not as they would like it to be ? Or come up with a new and different approach ?
Warning Sign for #4: Executive departures

Habit #5: SUEs are consummate spokespersons, obsessed with the company image
Beware high-profile executives, constantly in the public eye, with little time for operational details.
Warning Sign of #5: Blatant attention-seeking

Habit #6: SUEs underestimate obstacles
SUEs are afraid of appearing fallible, so they avoid admitting mistakes at all costs. They’ll especially avoid accepting that the obstacles they casually waved aside are more troublesome than anticipated.
Warning Sign of #6: Excessive hype

Habit #7: SUEs stubbornly rely on what worked for them in the past
Many SUEs owe their careers to a “defining moment”: the one thing they’re known for and what gets them all their subsequent jobs. This, combined with some or all of Habits 1-6, means they have only one point of reference, and don’t consider the wider range of options needed to address new circumstances.
Warning Sign of #7: Constantly referring to what worked in the past

Finkelstein’s bottom line: If you exhibit several of these traits, now is the time to stamp them out. If your boss or several senior executives at your company show them, start looking for a new job.