Question

Often times when businessmen or women find themselves in positions of power, they use that power for personal gain instead of for the betterment of the company and its employees. Explain in your own words why you think this appears to happen quite often in today’s global marketplace? Do you think the problem is more prevalent than it was a decade ago? Two decades? Support your answer with sound research and real-life examples.

Answer 1

Power is the one currency that all leaders have, but it is also one of the most misunderstood assets in leadership. Power accompanies leadership. And the way a leader wields his/her leadership power will determine whether or not people choose to trust and follow him/her. Having power creates new expectations. It insulates us and erodes the need to connect with those around us. But not all leaders relate to power in the same way.

The difference between proper and improper use of power is the difference between success and failure, high and low productivity, motivation and disillusionment. The accrual and exercise of power often come at the cost of disconnecting from others and losing the ability to take perspective. In other words, not only are leaders liable to become less empathetic as they accumulate power, but they are also likely to grow more self-entitled. And even though most leaders arrive at positions of power by building relationships and working with others along the way, once they settle in their powerful roles, they may forget the behaviors that made them influential in the first place.

In today's day and age, the global scenario is extremely volatile and the entire traditional corporate set-ups stand challenged at the face of massive technological and other progressive disruptions that have started making a huge impact around us. Under such scenario, incumbent leaders, or well established incumbent corporate people,  who feel inferior often seek out positions of power to make themselves feel better. Whereas most people derive self esteem from accomplishments, intelligence or likability, some people lack these characteristics so they need to get in power positions to increase their self-esteem. This situation is more eminent now more than ever.