Brené with Erika James and Lynn Perry Wooten on The Prepared Leader, Part 1 of 2
Sep 22, 2022
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Brené welcomes Erika James, Dean of the Wharton School, and Lynn Perry Wooten, President of Simmons University, as they discuss their book, The Prepared Leader. They emphasize the urgency of preparedness in leadership, especially in the face of ongoing crises. Insights on navigating leadership through the pandemic highlight the significance of vulnerability and collaboration. They delve into decision-making biases and the importance of embracing diverse perspectives for resilience. Expect actionable strategies for emerging from crises stronger than before!
Preparing leaders for future crises is essential, emphasizing the importance of embedding learned experiences into an organization's culture for ongoing resilience.
Cognitive biases significantly influence decision-making in leadership, highlighting the need for vulnerability, diverse perspectives, and effective change management during crises.
Deep dives
The Value of Preparedness in Leadership
Preparedness is emphasized as a crucial additional element of effective leadership alongside people, planet, and profit. Leaders are encouraged to cultivate a mindset that acknowledges the inevitability of crises and the importance of proactive measures. Learning from past experiences is vital to mitigate the damages of future events, with leaders urged to develop 'muscle memory' to handle crises based on prior encounters. This approach promotes resilience and reinforces the belief that teaching leaders to be prepared enhances their capacity to respond effectively during challenging times.
Learning from Crisis: The Cycle of Panic and Neglect
The discussion highlights a recurring cycle in leadership where initial panic following a crisis is often followed by neglect until the next disaster strikes. This cycle demonstrates that while leaders may react to immediate threats, they frequently forget the lessons learned, leading to unpreparedness for future challenges. It becomes imperative for leaders to codify learnings from crises and embed them into organizational culture to ensure ongoing readiness. By doing so, they can break the cycle and transition from merely surviving a crisis to thriving in their leadership roles.
Understanding Human Biases and Decision-Making
The podcast explores various cognitive biases that impact leaders' decision-making, including probability neglect, hyperbolic discounting, and the sunk cost fallacy. These biases can lead to underestimating risks, focusing too heavily on immediate concerns, and resisting necessary changes despite evident failures. Acknowledging these biases is essential for leaders to make informed and rational decisions during crises. By calling attention to these tendencies, leaders are encouraged to embrace vulnerability, seek diverse perspectives, and prioritize effective change management.
Collaborative Leadership During Crises
The episode underscores the importance of collaboration and diverse input in leadership decision-making during crises. Leaders like Ed Bastian of Delta Airlines and Adam Silver from the NBA exemplified this by assembling expertise from different fields to manage their organizations effectively during the pandemic. Their success relied heavily on creating a team environment where knowledge sharing and collective wisdom were prioritized. This approach demonstrates that collaborative leadership not only fosters a deeper understanding of imminent challenges but also encourages innovative solutions that can enhance organizational resilience.
It’s the first of a two-part series with Erika James, PhD, and Lynn Perry Wooten, PhD, about their new book, The Prepared Leader: Emerge from Any Crisis More Resilient Than Before. It’s completely tactical and has taught me so much about leading in a crisis — and unfortunately, we have not seen our last crisis. We talk about what leaders can do today to prepare for what’s next, as they add a fourth “p” to the triple bottom line framework (people, planet, and profit) for measuring a business’s performance — and that’s “preparedness.”