Susan Smith, Staff Reporter
Postmaster-General, Dr. Blossom O'Meally-Nelson (standing), converses with Professor Rosabeth Moss Kanter (left) as she signs a copy of her book 'Confidence: How winning streaks and losing streak begin and end'. William Clarke, presi-dent and CEO of Scotiabank Jamaica, looks on. - RICARDO MAKYN/STAFF PHOTOGRAPHER
"THE FUNDAMENTAL task of leaders is to develop confidence in advance of victory, in order to attract the investments that make victory possible," says internationally known author, business leader and Professor of Business Administration at Harvard Business School, Professor Rosabeth Moss Kanter, in her book Confidence.
The professor was the chief presenter at the Bank of Nova Scotia Jamaica Limited's Leadership Conference held at the Jamaica Pegasus Hotel in New Kingston on Tuesday.
The focus of the conference was on the delivery of confidence. President and chief executive officer of Scotiabank, William E. Clarke, said the conference was aimed at fostering excellence in present and aspiring leaders of the nation.
Professor Moss Kanter said instilling confidence in individuals is one of the major ways in which companies can break the cycle of losing.
"When companies are on a losing streak, they can't get money for investments or resources. They can't attract talents," she said. "Leadership matters most when things are going down."
Professor Moss Kanter noted that when some organisations go on a losing streak they tend to fire all the managers in an attempt to source the reason for poor performance.
She advised that in moments of greatest challenges, leaders should apply themselves become positive and take risks.
Continental Airlines was one of her points of reference. She explained that though the airline experienced over 10 years of bankruptcy, a new leader broke the cycle of poor performance when he renewed the confidence of the airline by giving it an 'on time' flight reputation.
Furthermore, the new leader, who understood well the power of 'confidence', made the most of the Northeast power blackout in North America in 2003 when he allowed Continental Airlines to offer its services while other airlines cancelled their flights. According to Professor Moss Kanter, the airline made over US$4 million above its forecast.
She said the three cornerstones of confidence are accountability, collaboration and initiative.
"When leaders deliver initiative, they are making their (internal) leaders feel more confident," she said.
