| Author | Message | ||
     Methhanithodugu Side Hero Username: Methhanithodugu Post Number: 6017 Registered: 12-2008 Posted From: 59.93.68.47 Rating: N/A |
Bangalore: On January 7, 2009 a multi-crore accounting scandal hit Satyam with promoter Ramalinga Raju admitting fraud. In a book, 'Riding the Tiger - Leading through Learning in Turbulent Times', authors Priscilla Nelson and Ed Cohen chart how it rebuilt itself deploying a 'Lights On' strategy indicative of the business's desperate need for transparency and integrity. Key Leadership lessons from Satyam crisis As the Satyam tragedy unfolded, the mentality that the employers showed in bringing back the name of the company teaches us the need for Taking care of one another. "Everyone saw Satyam as Raju and Raju as Satyam and so when failure happened at the top, the immediate reaction was - it's all over! Therefore Be visible when crisis occurs. People get worried if the leader goes into hiding. Be present, approachable and comforting if others need it. A minute later though, everyone came around saying, 'How can we save this? How can we pull this together? Do not forget that every company has a responsibility to their customers, employees, investors, even to society. Keep up the values, don't compromise on organizational integrity and values. It dissipates the organization's energy if employees are guessing what's going on and trying to differentiate fact from fiction. People look everywhere for information when an organization is in crisis. So you want to get information out quickly and make sure people have enough information about what's going to happen next. Therefore it is important Communicate constantly.One thing the company did right, according to Cohen was that as the crisis hit, and its magnitude was felt, people started doing scenario planning to Rebuild trust. Ed Cohen, Ex-Chief Learning Officer and his wife Priscilla Nelson , who also worked at Satyam as Global Director of learning, quit their jobs after an year of Satyam scandal. Today the duo runs the California-based Nelson Cohen Global Consulting, and as the name of their firm suggests, they dole out advice to corporations on how to lead, learn and transform. PS: I am not Affiliated or Endorsing or Critising Satyam .... jfi  |
