Sunday, March 29, 2009

The fallen business star

I finished reading Confronting Reality, Larry Bossidy and Ram Charan, 2004. I read their earlier book Execution some years ago and found their analysis and advice commonsensical and straightforward.

Confronting Reality is a quick read and challenges leaders to "confront reality." They then highlight several leaders who confronted reality such as Bob Nardelli at Home Depot, Jim McNerney at 3M and Richard Harrington, Thomson Corporation. None remain at these companies and the current reality is very different for Home Depot and Thomson Reuters. McNerney is now at Boeing. Nardelli's departure from Home Depot (disclosure, I'm a HD share owner) was notorious and well reported. He's now at Chrysler with a very different reality to confront. I wondered about all those business books celebrating the wise leader and cheering his/her accomplishment only to confront the harsh reality of losing that job. Most certainly the that list will grow as once celebrated leaders stumble.

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