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Leadership still matters: Lessons from the Old Economy for the New Economy

Dr. Marcos Eguiguren, Executive Director of the Global Alliance for Banking on Values (www.gabv.org), the world’s most important association of value based banks, based in The Netherlands, summarizes research of the key contributors to the failure of 50 organizations:

Most companies that fail do not do so because of economic crisis or the impact of fierce competition, but because of internal problems, mainly of a human nature, that have not been adequately addressed. A crisis situation or strong competition are only catalysts for deterioration.”

“Ultimately there are two reasons organizations fail — in particular during challenging environmental forces such as tougher competition:

  1. A bad governance system, with not enough countervailing powers. For example, an organizational system that does not allow people to say what they think should happen in the company; and
  2. Lack of moral or ethical behaviour in some key people.”

How can we make a company more anti-fragile and provide value to society?

  1. “You need to have the right people from not only from a technical perspective, but also ethical and moral perspective. For example, recruit people who are able to discern and have good judgement, who realize the potential systemic consequences of decisions (good or bad) and know how to make decisions that create a foundation for more participation in decision making processes in an organization.
  2. Then you need to recruit the right people to train the people in the right way to keep it in the right way.
  3. Continue to cultivate and evolve very advanced corporate governance models (including value distribution models) that ensure a CEO does not go “rogue” (because even the most brilliant CEO can go a bit “rogue”).”

Customers, investors and stakeholders separate good projects from bad using simple criteria to determine viable blockchain eco-system growth

Who creates culture? People

The Fundamental Principles of Values-Based Banking: Global Alliance for Banking on Values

Side Quest:

Read the article from Consensys on the Mortal Hazards of the DAPP Ecosystem.

  • What can decentralized blockchain leaders and communities learn about leadership and governance failures of the old economy?
  • How do you maintain the foundational values of decentralized technologies in the distributed economy while leading your projects and communities?
  • How do you lead in such an eco-system (where you have little control over technology)?
  • And how will you build trust in yourself and your technologies?