ChrisBanescu.com | Chris Banescu | June 14, 2009

From my years of experience working for different companies and teaching various graduate business courses, I developed three rules that management must practice in order to achieve long-term profitability and success. Follow these rules and a business can remain healthy and prosper. Ignore them and failure is virtually guaranteed in the long term. more »

ChrisBanescu.com | Chris Banescu | Jan. 22, 2009

In today’s turbulent financial times and difficult economic conditions, a lot of unjustified criticism and unwarranted accusations have been laid at the doorstep of capitalism. Many in the mainstream press and academia, a majority of politicians, and a large number of Americans have jumped on the bandwagon and unfairly blame capitalistic principles for the huge mess that we are in. Such widespread confusion evidences a misunderstanding by many Americans of how value is actually created in society and what capitalism really represents. more »

ChrisBanescu.com | Chris Banescu | Jun. 21, 2008

In this article I’m continuing with my review of the key characteristics of great leaders. Here are some additional qualities that embody superior leadership.

Great leaders surround themselves with greatness. They actively seek out the best possible people and hire them to fill all key positions within their organizations. Great leaders know that surrounding themselves with excellence is a direct reflection on their own character, abilities, and effectiveness as leaders. They understand that their own success and the success of their organizations depend mostly on hiring and promoting the best qualified, ethical, skilled, responsible, mature, and productive people and giving them the proper resources, authority, and freedom to do what’s needed for the long-term benefit of their companies. Great leaders do not feel threatened by anyone lower in the chain of command who’s smarter, better educated, more productive, or more popular than they are. They respect the greatness and unique abilities of the individuals they lead and encourage them to continually flourish and grow. more »

ChrisBanescu.com | Chris Banescu | Dec. 31, 2007

What are some key characteristics of a great leader? While many books and countless articles have been written about this subject, we continue to witness a significant shortage of great leaders in many companies and institutions. Here are some essential traits and skills that great leaders must possess. more »

OrthodoxyToday.org | Chris Banescu |October 3. 2007

Telling the truth is too often overlooked in business. Truth is the catalyst that should inform all management decisions and actions. It’s the foundation on which trust and integrity rest. Truth is the critical prerequisite that enables management and employees to make ethical decisions in the day-to-day activities of an organization.

Now when I speak of “truth” I mean the objective reality of our lives that we can all categorically agree with. This includes facts and information that cannot be disputed and are universally true whether or not someone chooses to acknowledge them. Some examples include: two plus two always equals four, water is necessary to sustain life, man has landed on the moon, companies must be profitable to remain in business, in a vacuum light travels at precisely 186,282.397 miles per second, and only 0.037% of our atmosphere is made up of carbon dioxide.

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ChrisBanescu.com | Chris Banescu | August 28, 2007

During the glory days of the Dot Com Bubble I worked as Director of Web Development at Homestore.com (now Move.com). Homestore ran Realtor.com, the largest real estate site on the web. Homestore’s management team was unable to capitalize on the unique position and strategic advantages the company had in the marketplace and squandered the resources and talent they were entrusted with.

The way executives reacted to the looming financial crisis of their own making is an illustrative case study in how not to conduct layoffs and how not to manage a company’s most important assets – its employees.

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Orthodoxy Today | Chris Banescu | July 31, 2007

What happened to companies like Enron, WorldCom, Tyco, or even organizations like the Catholic Church where ethics collapsed and management behavior became criminal? Their leaders did not set out to break the law. So how did they end up disgraced, and some even behind bars?

Many of these problems can be traced to a failure of ethical decision-making. Ethics acts as a “fail-safe” mechanism.

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