(Gainesville, Florida, October 16, 2008) The Perth Leadership Institute (
http://www.perthleadership.org/), the industry leader in business acumen assessment and development programs, today announced that it has issued an alert on the market crash and how human resources and leadership development can quickly and effectively develop a post-crash leadership strategy. The alert provides rapidly actionable, high-impact recommendations and suggests that human resources must focus on business acumen development and improving executives’ financial impact through behavioral approaches.
According to Dr. E. Ted Prince, Founder and CEO of the Institute, “The current market crisis highlights the failure of traditional leadership programs to identify and develop business acumen in leaders. This has occurred in almost all organizations and not just in financial services companies. The Perth Leadership Institute has long pointed to this critical gap in leadership development. The current financial turmoil is at least partly the result of leadership development programs that place an emphasis on people skills. These programs largely ignore the essential qualities of business acumen, such as achieving long-term profit quality, and where they do focus on these issues, it is from a financial literacy rather than a behavioral finance approach. In order to achieve sustainable competitive advantage, HR and Leadership Development executives, as well as other business executives, need to refocus their efforts on building an awareness of the financial behavior of their organizations. If they do not, the current financial engineering actions being taken by governments around the world will be less likely to have positive and sustainable long-term macroeconomic impacts.”
The Perth Leadership Institute has developed innovative approaches to leadership styles and financial impacts based on its research into business acumen. These form part of its business acumen assessment and development programs for managers and executives. It has developed business acumen assessment instruments such as the Financial Outcome Assessment®, used by executives and managers to increase their financial and valuation impact.
The Perth Leadership Institute was founded in 2002 in Gainesville, Florida, by Dr. E. Ted Prince to carry out research into the linkages between behavior and company financial outcomes. Its programs are targeted at executives and managers and are used for leadership and executive development, talent management and to improve individual and team financial performance at the middle and senior levels of organizations.
To obtain more information, email steven.weiner[at]perthleadership.org or call (352) 333 3768 x718.
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