A Lodestar is a “guiding light” that serves as an inspiration, model or guide.
Our experience as Interims has led us to the conclusion that senior executives continue to to take on increasing levels of responsibility, often beyond their capability and competence.
This additional workload manifests itself in poor delegation and lack of incisive decision-making as executives struggle to keep up with the workload. This results in poor performance and ultimately executives suffer from stress related illnesses and cannot cope with the pressures on themselves.
The current economic climate seeks to place further burdens on their time as executives are forced to spend inordinate amounts of their valuable time managing the financial side of their departments, in the face of an uncertain future.
Organisations and their management move towards a state of hubris, where they lose sight of reality and their ability to manage the business, and find they are incapable of overcoming the inertia created. Management concentrate on the short term priorities and lose sight of the long term strategy of the business.
Many organisations also suffer from a level of complacency as sales levels and activity diminish without recognising the urgency of corrective action.
This period in the economic cycle is an opportunity to regroup and plan future strategy to prepare for continuing turbulence in markets and economies.
Organisations need to put into place specialist futurists and risk assessors that can influence the business to address potential threats and exploit opportunities.
This means having an excellent grasp of the way your industry, competitors and the economies you operate within.
This ground-based image was taken by Japanese amateur astronomer Akira Fujii and shows a close-up of Sirius A, the brightest star in our night sky, along with its faint, tiny stellar companion, Sirius B. The dim Sirius B [tiny dot at lower left] is lost in this image due to its much smaller size.