Avoiding pitfalls
~ LEAOERSH. -'-'I_ P_
_
Avoiding pitfalls Everyone makes mistakes, but your response will determlne whether you will repeat the failure or learn and profit from it. By Amy Bircha11
(i
ood manager~ make mi>takcs. Tile he~tlmiWagers
ltarn fmm
Llu.:m~
Whiff' ~ucces:~ mo~· be mOrft hight~·
valued lhCH"' failure, rherl! is ph.:nty of knoh·led g_~ w xicarl rrom cho~e whu )l.Ot it wrong Take petrolemn rnmpany BP. whose poor manatt.cuum t decision,; wert~ rcspons!biP for lh• ~UJO OeepWMPr Horizon oU spill in the Gulf of Mexico. .-\ Whu.c House inveYigalion ualu the spill hlamed -ovcrurching fa lime of muuugcmcnt", anc1 found BP•s senior managt:JU\,:'111 - made Hfl of some of tbt bright""' nwncs in tbt busin~ss 1 land pilid insufficient uth:ntion to rhr ~ rrouhl•nid n heft)'
1
price fur that manac~ment tJ!w1dcr. nn tSdmated S:ll! billion. Often. managemetU blunders dn nm need w cost billions of duUurs to cause headhare tb~lr htgge:;tutistakes. and'""'""' l~rncd from rhe e:tan Barrie I> the found~r •nd C~Q u( Frcc.lance-r.t:()m, one uf the world:~ rnp nut~uurcing websirPs. ' I h4: ~it~ po~cs nP~rly 100 p..:l cent grov.'1h year-on· rear. and ha< turne--d OV bunt"« who •tart on~ modt'l b.1~f. hut lo~vc unllmirPUY> «oonpnn)"
wh~u
t'IUHIU)(CIIICIH Wtl$ f n \ll:llly UMLUIIC\:I IlCd
thl' ,llflfll\3l'tlt.lC u( lhe 1•0M1.
One u r lht,: ru)(C~ l gmwln g r.OitlJ,IHth.:it
t'lbOu t rmphlvl.!c) lninR persrmnl f"'mull
In Au malta. HU\'c' ct. Kersh ~ttmlrUrt>U>c'S, untlllho.~m~lu)cc.-s left .md l))·mock> .uuld not
"I J~rcrn~d a vcr~· bi~ lC$SOn o n \Ur)ing mark111 rnndhlcm:. uw.:J lhr
Ut.J round~r ~lrol t'l Kt-r'\h kuow~ well. t..cr>h >l~rtcd 4Cibllng, whtclo >dl>
she wM 21. ~twtm )'I:Utlr lnlcr. h I~
path to $UCrt~o~~c ho~ l\IIIUOth.
not uln.a)"J been
:t~rrP"' hnt~urlut ll
"( h tr I.Jl)l,j4C:,:( ll\ l $ \ ~ kt:>r f'\r\1'1)1 0 1"1 WU:J
(huu
"'f\.f:my 11rrvlctt 'J.li'U\•idcc·s, $UC"h Ml
"MY BIGGEST MANAGEMENT MISTAKE WAS TH INKING AUSTRALIA IS THE SAME COUNTRY AS SOUTH AFRICA, WHEN REALLY, THE ONLY SIMILARITY IS THEY DRIVE ON THE SAME SIDE OF THE ROAD" • Stan Cordon, C"uld Rock let Crtamt'V CEO etf'\d th•• uwntr of l='rtr'\chlilf'\g Food
'"'•••ko
IIU>
thinkingAuuuth Africa. whon
"'"II). doc onlr slmll•rh) ,. th•·l drl\'t on
fmpnrtUIIC.\1 u( 1~3t(hfns new IIIUII.Cts beforoJmnpln~ in hond nrst. "Coultll 11\Ak~ " plo uu>i 11css work
hero itt •luclicvc I could, but thi• ltlnc I \\Ould doh .. for the ,\ustrn..llan rnn1lume:r.• Oo you havt a m•n•;tmont blunder you'd like to conltu? Hud lo mtm•;.com.au to sh~rt your blggnt monttgctmtnt m1stakv.
_
Avoiding pitfalls Everyone makes mistakes, but your response will determlne whether you will repeat the failure or learn and profit from it. By Amy Bircha11
(i
ood manager~ make mi>takcs. Tile he~tlmiWagers
ltarn fmm
Llu.:m~
Whiff' ~ucces:~ mo~· be mOrft hight~·
valued lhCH"' failure, rherl! is ph.:nty of knoh·led g_~ w xicarl rrom cho~e whu )l.Ot it wrong Take petrolemn rnmpany BP. whose poor manatt.cuum t decision,; wert~ rcspons!biP for lh• ~UJO OeepWMPr Horizon oU spill in the Gulf of Mexico. .-\ Whu.c House inveYigalion ualu the spill hlamed -ovcrurching fa lime of muuugcmcnt", anc1 found BP•s senior managt:JU\,:'111 - made Hfl of some of tbt bright""' nwncs in tbt busin~ss 1 land pilid insufficient uth:ntion to rhr ~ rrouhl•nid n heft)'
1
price fur that manac~ment tJ!w1dcr. nn tSdmated S:ll! billion. Often. managemetU blunders dn nm need w cost billions of duUurs to cause headhare tb~lr htgge:;tutistakes. and'""'""' l~rncd from rhe e:tan Barrie I> the found~r •nd C~Q u( Frcc.lance-r.t:()m, one uf the world:~ rnp nut~uurcing websirPs. ' I h4: ~it~ po~cs nP~rly 100 p..:l cent grov.'1h year-on· rear. and ha< turne--d OV bunt"« who •tart on~ modt'l b.1~f. hut lo~vc unllmirPUY> «oonpnn)"
wh~u
t'IUHIU)(CIIICIH Wtl$ f n \ll:llly UMLUIIC\:I IlCd
thl' ,llflfll\3l'tlt.lC u( lhe 1•0M1.
One u r lht,: ru)(C~ l gmwln g r.OitlJ,IHth.:it
t'lbOu t rmphlvl.!c) lninR persrmnl f"'mull
In Au malta. HU\'c' ct. Kersh ~ttmlrUrt>U>c'S, untlllho.~m~lu)cc.-s left .md l))·mock> .uuld not
"I J~rcrn~d a vcr~· bi~ lC$SOn o n \Ur)ing mark111 rnndhlcm:. uw.:J lhr
Ut.J round~r ~lrol t'l Kt-r'\h kuow~ well. t..cr>h >l~rtcd 4Cibllng, whtclo >dl>
she wM 21. ~twtm )'I:Utlr lnlcr. h I~
path to $UCrt~o~~c ho~ l\IIIUOth.
not uln.a)"J been
:t~rrP"' hnt~urlut ll
"( h tr I.Jl)l,j4C:,:( ll\ l $ \ ~ kt:>r f'\r\1'1)1 0 1"1 WU:J
(huu
"'f\.f:my 11rrvlctt 'J.li'U\•idcc·s, $UC"h Ml
"MY BIGGEST MANAGEMENT MISTAKE WAS TH INKING AUSTRALIA IS THE SAME COUNTRY AS SOUTH AFRICA, WHEN REALLY, THE ONLY SIMILARITY IS THEY DRIVE ON THE SAME SIDE OF THE ROAD" • Stan Cordon, C"uld Rock let Crtamt'V CEO etf'\d th•• uwntr of l='rtr'\chlilf'\g Food
'"'•••ko
IIU>
thinkingAuuuth Africa. whon
"'"II). doc onlr slmll•rh) ,. th•·l drl\'t on
fmpnrtUIIC.\1 u( 1~3t(hfns new IIIUII.Cts beforoJmnpln~ in hond nrst. "Coultll 11\Ak~ " plo uu>i 11css work
hero itt •luclicvc I could, but thi• ltlnc I \\Ould doh .. for the ,\ustrn..llan rnn1lume:r.• Oo you havt a m•n•;tmont blunder you'd like to conltu? Hud lo mtm•;.com.au to sh~rt your blggnt monttgctmtnt m1stakv.
