By: Belinda SmithAfter the resignations of co-CEOs Mike Lazaridis and Jim Balsillie from RIM/Blackberry, that organization has been thrown into a lot of uncertainty. RIM has been struggling as of late and losing competitive ground against other smartphones and particularly the iPhone. Now the organization has to overcome losing its two leaders and the uncertainty of where the new CEO is leading the company, to turnaround or sale.
It seems when organizations have issues, the first thing to happen is the highest leadership resigns. While anecdotally I understand why this occurs, is it always necessary or for the best in every situation? When RIM lost not one, but two CEOs that has to be viewed as a loss of talent and experience rather than a “good riddance.” Sometimes CEOs are inadequate, but they do bring something to the table.
Even if it isn’t seen as important, the knowledge of failure is invaluable. Often, individuals do not want to admit failure, especially in the business world. And why would you? More often than not, the acknowledgment of failure automatically is associated with incompetence and leads to unpleasant consequences. While many failures could have been avoided, many could not. Businesses are operating in uncharted territory with the consumer base and economic position continually changing. In addition, dealing with new competitive threats is never exactly the same.
It is important for leadership to be self-aware, but to also continually analyze successes and failures and the reasons behind them. Doing so will help drive the business and create a better sense of what works and what does not under what circumstances and why the outcomes occurred that way.
Recognizing failure and dealing with it quickly rather than continually sweeping it under the rug will actually minimize the failure. Operating under a sense of success even when failing will lead to more catastrophic failure. Losing talent over a failure is only adding fuel to it. Understanding why it occurred is more important than placing blame on a specific individual. While it may feel like the right thing to do, it will never eliminate the failure from occurring again.


