Discussions about leadership are dominating management planning sessions this year. Banks must be paying heed to the old Chinese proverb, “It’s easy to build an army, but harder to find a general.”
There’s also been an explosion of management books on the topic of leadership. The term “Level 5” is everywhere, and that Stephen Covey dude is making a mint talking about the “seven habits of highly infected people” – sounds gross.
Anyway, as a management consultant, I’ve just got to get in on this action. I’ve walked the halls of enough banks to weigh in on what makes a great CEO. For this reason, I blatantly ripped off the “Cosmo Quiz” format to develop the classic Gonzo Quiz: Are You a Gonzo CEO? (By the way, it’s not my Cosmo, it’s my wife’s… I swear.) So fearless leaders around the country, answer the following 12 multiple choice questions to see where you shake out:
1. Setting Strategy
When you are establishing a strategic vision for your bank, you often:
a) burst into a manager’s office every few days with new ideas like, “Why don’t we do indirect dental chair lending?”
b) determine the 2 – 3 key niches and priorities for the company and make sure the entire organization stays focused
c) use big words like, “I see us becoming the premier financial organization that delivers the highest level of customer service in an integrated delivery environment”
2. Defending the numbers
You’re talking about your bank to a major institutional investor. He’s asking some tough questions about this year’s financials. As usual you:
a) say condescendingly, “You analysts think you know everything with those fancy earnings models.”
b) rattle off the answers like a Mensa geek on Jeopardy
c) turn constantly to your CFO in a helpless yet threatening way
3. Seeking your approval
When your senior managers want to get some expensive new initiative approved, they:
a) wait until after 5 p.m., sneak through the side door to your office and cut a sweetheart deal
b) run the request through the bank’s formal budgeting, capital expenditure and project approval processes
c) spend the money without asking, knowing you’ll either forgive them or won’t pay attention enough to catch them
4. Playing the game
Two of your direct reports are fast becoming mortal enemies. Each time you see one, he/she begins secretly bashing the other. Do you:
a) appear to agree with whoever is in your office at that time and then change your tune when the other manager comes around
b) confront both executives together, negotiate a plan of action and let them know that you don’t tolerate back-stabbing weasels
c) shrug your shoulders, lament that “those two just don’t like each other” and hope the conflict goes away
5. Building the team
A key executive position has just opened up at your bank. The first individual you think about appointing to fill the job is:
a) some new guy from a “really big bank”
b) the #2 in the department, who has slaved away for 12 years and helped build a very profitable business line
c) your son-in-law, who is struggling financially with his new Pilates studio
6. Utilizing consultants
A consultant has just presented an analysis that criticizes your bank’s operations, indicating that his firm has uncovered “major issues.” Do you:
a) wave the report at your management team and say, “You see, I told you you were all idiots.”
b) hold off judgment until your management team has reviewed the report and provided you with a formal response
c) yell defensively at the consultant and dismiss him, saying his firm failed to recognize how different your bank is from all the others
7. Mingling with the troops
After an early breakfast meeting, you decide to pay a visit to several nearby branches. It is likely that:
a) the staff will mistake you for a branch auditor or mystery shopper because you’re never around
b) the staff will openly share current concerns with you, and then they will beam when they receive your handwritten thank you note a few days later
c) the staff will be terrified, smile nervously and say, “Everything’s fine… we’re really looking forward to the picnic this year.”
8. Talking Technology
Your CIO has just made a presentation about key challenges to be addressed in implementing a major new technology. After the presentation, you:
a) roll your eyes and say, “I don’t care about this technology stuff… just make it work!”
b) ask good questions and offer your thoughts on the decision, understanding that there is never a perfect answer when its comes to technology
c) snap your fingers and exclaim, “Hey, can I get one of those wireless Palm Pilots like I saw on CNN this morning?”
9. Implementing change
Several managers have come to you with concerns about the lack of resources and unrealistic time frames regarding a major corporate project. Do you:
a) mimic an old general and declare, “Damn the torpedoes, full speed ahead!”
b) listen carefully, work to prioritize the milestones and allow for additional resources if they have been rationally justified
c) ask if there’s any way your son-in-law might help out on the project
10. Telling the story
A reporter from the American Banker is interviewing you about the success of your institution. Do you:
a) provide dramatic quotes like, “Leadership takes vision and courage… most bankers are not up to such a task.”
b) give praise to team members at the bank and talk about how proud you are of the organization
c) request that all questions be in writing so you can assign their response to the marketing department
11. Oh no! Back from another conference
You’ve just returned from a big industry conference, rubbing elbows with other CEOs. Your management team is:
a) fearful of the new “strategy du jour” you will be telling them to implement in the next 60 days
b) confident that you’ve made some valuable connections with peer institutions who can share best practices
c) curious as to how much golf you actually played and just how much of the bank’s money you spent at the five-star resort
12. You have mail
You just received a new email message in your in-box. Do you:
a) have your secretary print it out so you can see what it says
b) read it and respond to it, while filtering out the mindless “cc:” stuff from all the corporate suck-ups
c) ignore it because it’s not from one of your kids
The Results
So how’d you do? Okay, it’s pretty obvious. The correct answer to every question is “B.” Sure, the alternative answers seem ludicrous… or do they? Sitting atop the pinnacle of power, many temptations can arise for CEOs. Things get busy, everyone wants your attention, and sometimes it just becomes easier to wiggle out of what’s uncomfortable or takes deeper understanding.
Over the years, I’ve been honored to work with many Gonzo CEOs, but I have also stumbled across a few who cared more about themselves than their companies. As a consultant, I’m typically around the bank before the CEO enters the room and after he or she leaves. Yup, I hear what folks are saying.
What I’ve learned is that bankers aren’t looking for polished leaders who have all the answers. CEOs should take solace in knowing that bankers really just want their leaders to stand for something. If you take a look at the correct answers to the Gonzo quiz, you can surmise that bankers simply want leaders who:
It’s an elegantly simple list that too often gets overlooked. Maybe Bill Murray said it best in the movie Stripes. The banking industry needs leaders like a foot needs a big toe.
Here’s to our best-est buddies and new big toes – the Gonzo CEOs!
-spw
Blessed is the leader who seeks the best for those he serves.
Ancient proverb – source unknown