The seven habits of spectacularly unsuccessful executives

Even the best executives fail. Everyone knows that. What's surprising is that they tend to fail in an eerily similar way over and over again. I was recently reminded of this by a Forbes article on Sydney Finkelstein's book Why Smart Executives Fail (skip over the book and head straight for Finkelstein's abridged article The Seven Habits of Spectacularly Unsuccessful Executives).

Finkelstein's seven traits are:

1. They see themselves and their companies as dominating their environment.

'Our products are superior, and so am I. We're untouchable. My company is successful because of my leadership and intellect – I made it happen.'

2. They identify so completely with the company that there is no clear boundary between their personal interests and their corporation's interests.

'I am the sole proprietor. This company is my baby. Obviously, my wants and needs are in the best interest of my company and stockholders.'

3. They think they have all the answers.

'I'm a genius. I believe in myself and you should too. Don't worry I have all the answers/ I'm not micro-managing; I'm being attentive. I don't need anyone else, certainly not a team.'

4. They ruthlessly eliminate anyone who isn't completely behind them.

'If you're not with me, you're against me! Get with the plan, or get out of my way. Where's your loyalty?'

5. They are consummate spokespersons, obsessed with the company image.

'I'm the spokesperson. It's all about image. I love making public appearances; that's why I give frequent speeches and have regular media coverage.'

6. They underestimate obstacles.

'It's just a minor roadblock. Full steam ahead! Let's call that division a 'partner company' so we don't have to show it on our books.'

7. They stubbornly rely on what worked for them in the past.  

'It has always worked this way in the past. We've done it before, and we can do it again.'

Here are a few managers that make the cut:

Rupert Murdoch - Newscorp (2)

Gerry Harvey – Harvey Norman (7)

Steve Jobs – Apple (2, 4)

Derek O'Neill – Billabong (6)

Matthew Quinn – Stockland (5)

Can you think of others?