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Knowing the Way: Consistent Direction

In: Leadership in Financial Services

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  • Steven I. Davis

Abstract

The first common dimension of the leadership profiles in Part I is the presence of a consistent and coherent strategic direction set and maintained by the leader. For some in our sample, like Brian Pitman and Richard Salzmann, the strategic direction is almost synonymous with their leadership philosophy. For others, like John Whitehead and David Rowland, it comes at the end of a long conversation about values or process. But it is nonetheless an integral part of their leadership. The power and duration of this direction emerges from a simple review of each of the leader’s tenure and achievements. For 15 years as chief executive, Carter Bacot has driven his philosophy of low cost production and product diversification to achieve leadership in several high-profit businesses and one of lowest cost-income ratios in the US. And this has been done, in his words, ‘without suddenly running off in another direction’.

Suggested Citation

  • Steven I. Davis, 1997. "Knowing the Way: Consistent Direction," Palgrave Macmillan Books, in: Leadership in Financial Services, chapter 4, pages 131-138, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37631-1_4
    DOI: 10.1057/9780230376311_4
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