@DailyNation

Are you succeeding, or just looking like you’re succeeding in business? - 17 Mar 2018 17:33

Sunny Bindra

When Jeffrey Immelt, long-time boss of giant conglomerate General Electric (GE), held his annual address to investors last May, his corporation’s stock was trading at close to $30. He painted a rosy picture of his long tenure, and retired as chief executive officer soon afterwards. Today the stock price is around $15 (Sh1,500). His successor decided to bare all and embark on a brutal restructuring involving thousands of layoffs and mass disposal of assets. The firm is under scrutiny from regulators for how it accounted for certain transactions. A break-up may be looming. POSITIVISM The Wall Street Journal recently called Mr Immelt’s reluctance to announce bad news and tendency to gloss over real problems “success theatre”. This refers to the habit of some business leaders to project optimism and an upbeat tempo at all times, and to meet ambitious numbers at any cost. According to insiders, Mr Immelt ran a ...
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