From the course: Executive Decision-Making
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Accountability and transparency
From the course: Executive Decision-Making
Accountability and transparency
- Executive decisions don't always go well, and people need to be held accountable for the decisions they make. This is hard to do for those long-term decisions. It's important to have short-term and medium-term metrics to be able to assess how people are performing with those longer-term decisions. Tie compensation directly to the decisions people make. Incentives should relate to milestones and interim metrics, because not holding people accountable to those interim metrics lets them make bad long-term decisions without any consequences. Be transparent with the organization when you take action because somebody made a good or bad decision. If someone is relieved of their role because they made a decision-making mistake, be courageous enough to say so. Don't be mean, but highlight that you have a culture of accountability. One example I'm familiar with was the COO was fired for poor decision-making. In this situation,…
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