It takes a brave and fearless individual to be a leader, right? What if you were only given 
one chance as a leader to turn a corporation around, could you do it? Could you really make a difference and convince the stockholders that you are the right person for the job? Corporations are beginning to take a stand of “no excuses” when it comes to CEO’s effectively managing and running the business. Leaders are expected to be able to manage systems and people, manage them well and keep the bottom line looking good. If they can’t, there certainly aren’t any qualms about getting someone in there that can.
Such is the case with the folks at Merrill Lynch who have to successfully convince its shareholders that their assets are in the right hands. But with prior leadership from Stan O’Neal, there may be difficulty convincing the shareholders. His leadership was ineffective and detrimental to the firm and caused him to be ousted before any more financially significant problems arose. His term as CEO was tainted with accusations that he didn’t know when and how to make sound business decisions. He was a risk-taker, but his risk-taking wasn’t well thought through and weighed against the potential outcome.
Running a corporation requires a sharp-thinker, a savvy business mind and the ability to take a risk…just not too many of the wrong kind.
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