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Thursday, March 26, 2009

How Executives Can Successfully Transition

This is the 3rd of several posts of the coming week based on my book review of The First 90 Days: Critical Success Strategies for New Leader at All Levels by Michael Watkins (Harvard Press). See previous posts.

Executives coming into a company fail at the rate of 40-50% at a cost of $2.7 million to the company.

4. Secure early wins: Grab the low hanging fruit of success to set the tone of a successful tenure with virtuous relationships and not vicious ones (John Kotter—a Harvard Professor and change icon talks about this a lot in hit books on change, including Leading Change).

5. Negotiate success: Your new boss is your critical connection to the organization. Understanding and meeting his or her needs and expectations, style and energy is important if only for survival purposes! Get consensus on your 90 day plan and life will be a better place.

6. Achieve alignment: As a high flyer in an organization, you need to assure alignment with your approach and the corporate strategy (Covey chats about this a lot in his later books).

7. Build your team: Most new executives inherit teams. The key is to keep the right ones and jettison the wrong ones (remember Good to Great—Jim Collins research taught us to get the right people on the bus and the wrong ones off it).

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