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PROFESSOR JEFFREY PFEFFER'S LESSON SUMMARISED
1. Individuals have a need to associate themselves with success.
2. This need frequently causes people to reconstruct events that they experienced or make up events that never transpired.
3. Because this associative need is so strong, individuals will forgive many former faults of people and companies currently achieving success.
4. In the same way, individuals will also jump on the bandwagon and disassociate themselves from failures and wrongdoings.
5. Still, as long as an individual or company is successful, success will bring its own rewards – namely, people will forgive or forget previous transgressions.
More video lessons by Professor Jeffrey Pfeffer can be found at Fifty Lessons and cwerty (registration required). Harvard Business School Press and Fifty Lessons have teamed up to produce three books based on the lessons; Managing your Career, Managing Change and Leading by Example.
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I don't think it was fair for Professor Pfeffer to compare GE to Enron. As he pointed out, Enron's fraudulent behavior began at the company's inception and pretty much defined the company.
Unlike Enron, GE is a multinational conglomerate that has been around for a long, long time. It is no wonder that through the course of time and over the expanse of the many businesses GE has involved itself with, there are instances where the company has made mistakes. GE has been around since Edison invented the light bulb. Things change, and decades old decisions cannot be fairly evaluated through the lens of modern perceptions.
GE is deservedly a leader to be emulated. It deserves its reputation for innovation and smart leadership. GE not only thinks outside the box, it builds the boxes that other companies want to climb into. That's the strength of GE's leadership. As Professor Pfeffer pointed out, people tend to identify with success. GE provides an outstanding example to follow.
Gary Ollila, Virginia Beach, Virginia