"Laws are like sausages, It's better not to see them being made."
Otto von Bismarck
(1815 – 1898)
The Frustrated CFO: Some things never change. Ah, the reassuring repetitiveness of human history!
"Watching the unprecedented spectacle of this Superman picture, I thought of the producer Lynda Obst's new book, Sleepless in Hollywood, in which Obst explains why studios are making so many action-heavy, 3-D, Imax monstrosities in lieu of anything else: This is what plays in the rest of the world, especially China, from which an astounding 80 percent of studios' profits now come. The greed on display extends to the product placements. Amid the explosions and flying debris, the Sears, 7-Eleven, and IHOP logos are visible from all angles. Critics and even the American public might be cool to this War of the Worlds take on Superman, but if Asian markets are onboard, it's pop-the-cork-and-green-light-the-sequel-time: truth, justice, and the Chinese way."
David Edelstein
New York Magazine
June 24 – July 1, 2013 issue
Let me say first that I mourn the death of Robb and Catelyn Stark just like the rest of the Game of Thrones fandom. Yet, the sadness doesn't cloud my judgement; it doesn't prevent me from fully grasping the ironclad logic of good storytelling. I am fully aware that the tragic events of the Red Wedding were not written for the sake of shock and gore. They were consequences of the characters' actions and motivations, consistent with the specific circumstances and forces at play. They had a lot to do with matters of executive responsibility, obligations of power, burdens of leadership, i.e. with the "weight of the crown." As the Bard said, "Uneasy lies the head that wears a crown." (Henry IV, Part 2, Act 3, scene 1, 31).
To those who read CFO Techniques I would like to offer my apologies for using the analogy from The King's Speech here again. It's just that the Brits, who's been living under monarchy for over 1500 years, understand this royal-duty business better than anybody. (Also, they seem to speak the same language as the Seven Kingdoms' folks.) So, in the movie, Prince Albert (Colin Firth) tells King George V (Michael Gambon), "Father, we are not a family, we are a firm." And the king replies, "We are the oldest, most successful corporation in the world and sitting on thrones is our business."
Yes, ruling a nation is a family business, and that makes a king the Chief Executive Officer of his land and his people. And in this position, just as it is in any company, he is responsible for
In fact, in George R. R. Martin's world, a king's enterprising is very entrepreneurial, very hands-on. Nothing like the make-believe leadership we see in the dangerously large governing bodies of contemporary conglomerates/countries. In the Seven Kingdoms, a true leader cannot be a mere token sitting on a throne (in King's Landing they have Joffrey for that, while Tywin rules). A ruler's job requires a lot of personal involvement and micromanagement: from weaving intricate intrigues to beheading those you condemned; from charging in front of your troops to skinning a damn large deer – the one with the executive power cannot avoid rolling up the sleeves and getting his/her hands dirty.
Most importantly, the king must take personal responsibility for doing the right thing by his nation. He'd better have his priorities straight: the crown is so heavy because the burden of authority calls for selflessness and sacrifices. Those few business owners that earned my personal respect over the years concentrated all their efforts on the prosperity and success of their companies. They were acutely aware that business is nothing if not a continuous struggle for survival.
So, what about Robb Stark? How did he do as a CEO? Not very well, I'm afraid. He was like one of those young rich boys, who inherited his father's business too early due to an untimely death – full of great potential, brilliant ideas, and… illusions. The childish sense of invincibility has not yet evaporated from his body. He thought he could break and rebuild the word any way he wanted. And so, he went and violated the millenia-old custom of building political alliances through marriages: he broke off his engagement with Lord Walder Frey's daughter. His Love was above any rules. How beautiful!
How cheeky and irresponsible! It was an unforgivable insult to House Frey. It was disrespectful to the memory of his father who made an arrangement and himself inherited Catelyn as a bride after his older brother's death. And, as far as the well-being of his land, his subjects, and his mission are concerned, it was plain reckless. In the business environment, this would be the equivalent of breaking contractual obligations with your commercial partners or violating the terms of your financing agreements. Actions of this kind result in companies loosing their reputation, market share, procurement resources, creditability, funding, and eventually going bankrupt, i.e. die.
As many young entrepreneurs, Robb Stark was a person of extremes: he was quick to break rules practically written in stone, yet many of his actions were marred by poor, hesitant decision-making. Whether due to inexperience or a lack of talent for long-term strategic thinking (his military campaign proved him to be a good tactician), he was never quite sure what was the right thing to do. It's bizarre, really: sometimes he neither followed the solid logic presented to him by his advisers, nor did he go with his own gut. The foolish execution of Lord Rickard Karstark, which resulted in a loss of a huge chunk of allied troops is an obvious example.
I've been forever writing and talking about psycho-profiling as a key management skill. One simply cannot succeed without it. Robb's inability to read people and their motivations might be the main reason for his downfall. What made him think that old Lord Frey will forgive the insult and tolerate Robb's wife being shoved into his face in his own home? How could he forget that you cannot trust anybody and must always be on alert for betrayal? If we think rationally about it, the probability of retaliation was very high.
In contrast, there is a reason why a few smart people reluctantly realize that Tyrion Lannister is King's Landing's only hope. Not only that he is sharp, brave, incisive, and fair, but he also understands that if one wants that family business of ruling kingdoms to be successful, he must be ready to forsake a thing or two, including personal happiness.
It's great to find out that I'm not the only one who saw the parallels between the demise of Robb Stark and the small-business leadership. The article below was prompted by TypePad as a related post.
Related articles
As we already discussed, people like me (not only CFOs and Controllers, but anyone of the same makeup) work hard because they cannot operate any other way. We do it out of self-respect. If we undertake a job with its multitude of functions we try our best to adhere to our own high standards of work ethics.
Does this mean that we are idealists of the Don Quixote persuasion? Will we sacrifice merit-based rewards for the sake of doing the job that makes us proud? Will we let our bosses to take advantage of our self-drive and pay us peanuts?
No, no and no. If that what you gathered from Why Do I Work So Hard?, you grossly misunderstood me. Don’t forget that we first accept a job, but once we do, we start working hard. And the compensation should be adequate.
The thing is, though, we know this about ourselves. We know that we will do our best for the employer and we know that, unless something we cannot control ourselves happens, the company will benefit from our efforts tremendously. So, don’t forget that: reflect it in your resumes, your cover letters, your conversations with hiring managers.
And if you made a conscious choice of working in a privately owned business, you actually have an opportunity to present yourself to the people who care about the company’s well-being the most – the owners. Let them know that you adhere to high level of work ethics. It will make a difference and it can be used as a negotiating point.
{Side note: my experience shows that stressing these points with recruiters or HR managers will be wasteful and frequently detrimental to your ability to move to the next level of interviewing process. These people are employees, you don’t know their attitudes towards the job and they may feel threatened.}
A quick word of warning: never say, “I am the best thing that will ever happen to your company.” First of all, you cannot guarantee that because there are a lot of circumstances that can negate your diligent efforts. Secondly, I was told by many a psychologists that these types of statements are classified as “over-compensating” and usually signal lack of confidence. Instead, present your case based on your prior achievements and relate them to your dedication.
Of course, the salary negotiations are tricky and influenced by many circumstances: the job market conditions, whether you are currently employed, whether this job is a real stepping stone in your career, etc. Nevertheless, that would be true for all applicants, but if you are indeed a naturally hard-working person like me, you have an edge.
Hopefully, by the time a raise and/or a bonus discussion comes up, your reputation will be solidified and you will be rewarded for your efforts. If you still need to negotiate, you will have a chance to talk about your present, not past, achievements.
And here I would like to refer you to the following The Ladders article, which directly addresses the issue of Salary Negotiation.
There is a vast and eclectic ocean of cultural works I worship, adore, admire, enjoy, appreciate, critique, or simply consume. Some artistic thoughts deeply affect me; a few strike straight through my heart and soul.
But in all of that massive heap of diverse imaginative expression, there seem to be only two creators to whom I relate as a person, and not as an arts junkie: Woody Allen and Larry David.
I think the below excerpt explains it all:
Paul Dolman: Hey, what's it feel like to have a lot of money?
Larry David: Most days I don't even think about it. But it's better to have it than not. Money can't make you happy, but it can make you happier.
Paul Dolman: Did success help make you happy?
Larry David: Who said I was happy?
From Paul Samuel Dolman's "Hitchhiking with Larry David" (Gotham Books, 2013