Being the Boss, with a New Preface: The 3 Imperatives for Becoming a Great Leader

by Linda A. Hill

We know a new manager who took over a trading desk in a global investment bank where he oversaw a group of experienced traders. Like many other new managers, he first used a directive approach, giving detailed instructions for adopting or closing specific positions or trying different trading strategies. The traders resented his commands and demanded to know his rationale, even though many acknowledged privately his talent for timing trades. Tension grew between them. He did recognize his lack of knowledge about foreign markets, however, and one day he asked a trader a simple question about pricing. The trader spent several minutes explaining and even suggested they talk again at the end of the day. It provided an important insight for the manager, who said he learned to stop talking all the time and begin listening. Once he made that change, he said, he began to learn about the work, and people questioned his calls less. In short, people began to trust him.