FrontierWorks

          November 2008

Pushing the Edge ...

On November 4th, more than 130 million citizens voted, and the winner is ... the American political system.  The voters have spoken and we have hired the next "temporary" leaders of our country (and the free world). Yes, "temporary" leaders for there are no permanent leaders of our country.  

In our democracy we decide not only who will be our leaders but more important, who will be the stewards of our Constitution and the ideals of our country's founders. Surprisingly, it is a lesson that our business leaders need to learn.  

Where have all the stewards gone? 

Stewardship means "being in charge of something that is entrusted to us, but is not our permanent possession."  Stewardship is both an honor and a privilege. It implies accountability to past and future owners. 

Of course, stewardship goes beyond the political realm. Yet, this idea seems at odds with what we see happening around us today in business. We see many of our business leaders holding little in trust for those that might come later.  The pressures for today's performance seem to overtake the responsibility to create value for the next generation of shareholders.

Over the past century, we have seen the growth of many great business institutions. For example,

• Bear Stearns, founded in 1923
• AIG, founded in 1919
• Merril Lynch, founded 1914
• Arthur Andersen, founded in 1913
• Lehman Brothers, founded in 1850

Where were the present-day stewards of Bear Stearns, AIG, Merrill Lynch, Arthur Andersen and Lehman Brothers?
 
Each of these firms had a proud heritage and a long list of stewards who worked hard to preserve the company's legacy.

We are a relatively young country. Thankfully, we still have great businesses such as DuPont (founded in 1802), Goldman Sachs (1869), Johnson & Johnson (1885), General Electric (1892) and JP Morgan (1895). Locally, we have one of the 300 oldest companies in the world - Zildjian Company (1623).

These are "values-driven" companies.  They act on their beliefs and recognize their resposibility to the past and the future.  Many of their leaders proudly talk about the sustainable legacy they intend to leave for others.  
 

"Pushing the Edge" of Your Thinking 

• Can leaders of public companies be stewards for the next generation of shareholders?
• Who are the stewards of your organization? Do they realize it?
• For what are you a steward?
  
    Click here to read Glenn's comments on stewardship 

I welcome you comments.  Feel free to share this mailing with friends and colleagues.

Click here to read past issues of "Pushing the Edge"

About Glenn Mangurian and FrontierWorks

FrontierWorks is a management consulting firm that pioneers new paths to opportunity. We partner with leaders to stretch their ambition and realize what is possible. 

In 2001 Glenn suffered an injury to his spinal cord, which left him paralyzed from the waist down. Undeterred by his injury, Glenn remains active in consulting, speaking and writing. He combines his decades of business experience with his personal experience in overcoming adversity to inspire individuals and organizations to achieve extraordinary results.

Click here to read more about Glenn