leadership course chapter essay & research paper

May 2018 / STRATEGIC FINANCE / 23

Considerable research has been conducted on the benefits of developing a growth mind-set. Stanford University psychologist Carol Dweck has exten- sively studied how having a growth mind-set (as opposed to a fixed mind- set) can increase success and satisfaction in nearly every aspect of life. Relent- lessly nurturing a growth mind-set should be a deeply held conviction of every current or aspiring leader. With this perspec- tive in mind, the following prescription of actionable guidance may strengthen both organizational and personal leadership per- formance and help prevent the debilitating conse- quences of “destination disease.”

PASSION AND PURPOSE

All leaders will tell you they like to hire and encourage people with passion. Is pas- sion the main ingredient in the recipe for success? It depends on how we define passion. Passion is prima- rily driven by intense feel- ings. Strong emotions can be helpful to initiate action, but seeing things through to completion requires more than emotional intensity. When challenges or obsta- cles arise, the needed self- discipline and persistence to keep going in spite of these difficulties often depends on more than pas- sion. The driving force behind passion also may not always be aligned with broader organizational interests. Passionate people can be very ambitious but also sometimes self- absorbed and self-serving. It may sound like a subtle distinction, but purpose is what really matters. A

LEADERSHIP

A LEADERSHIP GROWTH JOURNEY On the path to true leadership, a growth mind-set requires that you focus more on the journey than the destination. BY NICK LEBREDO, CMA, CFM, CPA

D O YOU OR YOUR colleagues suffer from “destination disease”? I frequently see many students with this con- dition. I have also succumbed to its harmful effects on occasion. But what is “destination disease”? You may suffer from it if you let your achievements define you.

The afflicted believe that everything will be perfect when a certain goal, such as completing a degree or getting a promotion, has been attained. This fixed mind-set is caused by ignoring the sage advice that life isn’t about the destination but about the journey.

commitment to serving something higher than your own self-interest is what distinguishes purpose from passion. A motivational purpose is inspired by rea- soning that gives more meaning to our actions. When we understand the “why” behind our deeds, our sense of devotion grows significantly. Passion can help get us started, but it’s purpose that keeps us mov- ing forward. We can lead ourselves and others more effectively when our sense of duty has this higher calling.

CONSTANT EFFORT

Natural ability and talent can be overrated. When our abilities enable us to do something with less effort, we can become compla- cent and more susceptible to “destination disease.” Continuous improvement depends on both the capacity and willingness to keep learning. Learning requires humility and constant effort. To learn anything, we must acknowledge that we have something to learn. Curios- ity is a prerequisite for innovation and growth but is usually only incentivized when we don’t have a fear of trying new things. Effort and persistence should be highly valued because they’re the main compo- nents of long-term, sus- tainable achievement. As one of our greatest inven- tors of all time, Thomas Edison, famously stated, “genius is 1% inspiration and 99% perspiration.”

Many distinguished his- torical figures have been credited with saying, “If I had more time, I would have written a shorter letter.” This humorous

quote has plenty of truth. Being concise takes more time and effort than point- lessly rambling. But time and effort alone don’t produce quality. High- performing individuals are both effective and efficient. To maximize productivity, don’t fall into the trap of believing that the keys to producing results are spending long hours behind a desk, attending endless meetings, or gen- erating reports few will read. Make sure that what you’re doing and asking others to do adds value and isn’t just busywork.

CONSTRUCTIVE DIFFERENCES

Do you get upset when someone speaks up with a different perspective? Are you and your team vulner- able to groupthink? Group- think can undermine one of the main benefits of teams, which is diversity of thought. What does it mean to be a “team player”? A team player isn’t a syco- phant. A team player who offers useful criticism should be highly valued since his or her feedback can potentially lead to bet- ter decisions and results. Leaders are better served when they create a trusting environment that encour- ages different opinions and constructive debate. Opti- mal decision-making approaches rest on creating a culture of ownership and accountability. Don’t be afraid to say that someone else has a better idea. Are you more interested in being right or doing the right thing? Ideas, not peo- ple, should be judged based on their merit and feasibil- ity. Genuine progress depends on a willingness to

challenge yourself as well as an openness to being challenged by others.

THE REFLECTIVE LEADER

While higher positions may demand that you exercise more leadership traits, your position doesn’t make you a leader or prevent you from being one. Leadership is about influence. If we lack influence over our own behavior, we lack the most essential type of leadership, which is self-leadership. If those we lead follow us only because of our posi- tional authority, we also lack leadership ability. One of the most influential means of leadership is lead- ership by example. In this regard, everyone can be a leader. Some of the most influential leaders in many organizations are those who have developed a habit of excellence that colleagues respect, admire, and desire to emulate. That’s influence. That’s leadership.

Of course, this proposed prescription for preventing “destination disease” doesn’t promise immunity or guarantee that we’ll reach our full leadership potential. Like you and me, it’s a work in progress with room for improvement. But through regular self- examination, reflection, and purposeful action, we can certainly strive to rein- force a growth mind-set. Enjoy the journey! SF

Nick Lebredo, CMA, CFM, CPA, Ph.D., is a professor of accounting and business manage- ment for the Keller Graduate School of Management. He also is a member of the IMA Leadership Academy and IMA’s Central Florida Chapter. He can be reached at [email protected].

LEADERSHIP

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I M A L E A D E R S H I P A C A D E M Y The IMA® Leadership Academy provides leadership opportunities for all members. From leadership assessment to leadership courses offered in person as well as through WebEx to participation opportunities in mentoring, be it reverse or traditional, the IMA Leadership Academy can help you meet your leadership goals and improve your leadership skills. For more information, please visit the Leadership Academy website at www.imanet.org/ career- resources/leadership- academy.

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