Tuesday, November 17, 2009

To Maximize or Optimize

Do you ever have a recurring thought and wonder where it comes from? I have been processing (in my head) for the last week the concept of stewardship. According to Webster's Dictionary stewardship is "the careful and responsible management of something entrusted to one's care." I first heard the notion of a leader as a steward during my ethics class at banking school. Dr. Kirk Hart shared the idea that leaders actions should focus on caring for the assets entrusted to them as though their value was generational rather than tied to a business cycle. This week I caught just a small clip of the PBS series on the National Parks and the idea of stewardship reasserted itself.

The idea of stewardship is also resonating with me because of our work on the character of leadership. It is not too far fetched to say that a leader who is serious about the character from which they lead will naturally contemplate the long term implications of such leadership and end up considering whether the highest use of their talent is to maximize shareholder wealth in the short run or to optimize shareholder wealth over the long term.

If you are interested in the implications of leaders as stewards let's talk!

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