In nine years, CEO Larry Bossidy pushed AlliedSignal from a struggling enterprise with only a 10.5% equity return to a powerhouse that delivered a ninefold return for shareholders.
In nine years, CEO Larry Bossidy pushed AlliedSignal from a struggling enterprise with only a 10.5% equity return to a powerhouse that delivered a ninefold return for shareholders. How? He made finding and developing great leaders his personal top priority—spending virtually 40% of his time on it.
It's impossible to spend too much time on leadership development, Bossidy proclaims—after all, it's top-flight leaders who make a business great. Yet many CEOs skimp on this responsibility (at best) or delegate it (at worst).
Bossidy's secret? A hands-on approach to cultivating his firm's future leaders.
If your firm suffers from mediocre leadership and weak "bench strength," you need to prime the leadership pump. Bossidy recommends these strategies:
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