Who was managing the day to day?

The banking crisis that contributed to one of worst recessions in recent times has led me to think – who was looking at the day-to-day issues? All those massive brains, MBA’s, accountancy and banking degrees, looking at strategy and policy, but we still ended up in a big mess. Not judging, just intrigued at why someone did not just say – that’s enough. Maybe too many leaders and not enough managers?

In an odd way I can see why it happened. It’s a bit like a small business growing, a sort of momentum builds and you can end up losing sight of the detail – the big picture is far more exciting. Before you know it you have run out of cash or dropped the ball with a big customer. As a good friend of mine told me recently as your company gets bigger the controls need to get tighter and the attention to detail is vital. I suppose you can spend too much time looking at the big picture and lose sight of the boring mundane stuff.

Leadership in a business is vital but management of the detail is paramount. An important lesson for all of us running a company. We need more leaders but good managers are worth their weight in gold.

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