Sunday, January 7, 2024

I have the power: The difference between being successful and wielding power: Book Review in Financial Express 7th January 2024

 Power is something all of us like to have and exercise. It can be at home or in office. We also know that some do it very well while others do not, or cannot. This is where Jeffrey Pfeffer’s book Power comes in handy. He points out that if we want to learn anything about power, it is not an easy exercise and has to be learnt over time. It certainly cannot be from someone who has risen to the top, as they always make it sound simplistic with the usual clichés.

A revelation is that being successful does not guarantee one power and the converse also does not hold, which is that poor performance does not lead to loss of power. There are several cases of CEOs who did not quite perform in the conventional sense yet held on to power because they knew how to use it. Even at the lower echelon it is shown that job performance is not important when an appraisal is done, but the relationship one develops with the immediate supervisor. This is the power of power.

The author gives some very useful tips, like making sure one gets noticed. Often one can be self-effacing and think that making a noise is not right. But it is essential to keep creating a buzz because that is the only way one can get noticed and make an impression. Even after leaving an organisation one can always be called back in case the person made an impact, ensuring they are never out of the mind space. The more important thing is that one should never shy away from being noticed.

Related to being visible is to do things that matters to one’s boss for it is important for any upward movement in a career. Here the author goes on to say that it makes sense to make others feel better about themselves as it ensures that you are remembered. He does not also rule out flattery as a tool to remain visible to those in power. Here one cannot disagree with the author as we see in the corporate world that everyone loves flattery and there are myriad examples in some of the best run companies where the CEOs just love flattery, which can vary from showering of petals to open praise.

Based on his experiences as well as observations, Pfeffer lays down a playbook to be followed if one wants to establish a position of power in any field. These qualities are practical and doable and often one may do it unconsciously. There are seven personal qualities that he alludes to as essential to claim this position.

The first is ambition. One can say that all of us are ambitious and rarely does one not want to progress in their careers. We normally associate this with politics, but even when it comes to the corporate world, this becomes a prerequisite or else one will fall behind.

The second is energy. Being ambitious is one thing but one has to be working hard all the time and this requires uncompromising use of energy. Almost every tale of success is enveloped with hard work which involves long hours and grabbing every opportunity even if it means compromising on a personal life. There has to be endless energy for sure. Following this is ‘focus’, which means knowing what one wants and choosing the path ahead. Switching career lines may not work for all. He gives examples of leaders who stuck to their line which can be finance, pharma, etc. Further there has to be focus on a limited set of activities and not a diverse set, which can lead to diffusion of effort.

The third is self-knowledge. It is not a cliché that education never ends. One has to be up to date with everything that is happening in the industry as well as competitors so that there is thorough knowledge of the sector. Fourth, along with this knowledge goes confidence. While there are examples of CEOs who rise due to reverse gravity, the absence of confidence makes them unable to wield power and they end up being unsure of everything and suspicious of new ideas. Companies that have such leaders in power tend to lag behind.

Fifth, which is very critical, is empathy with others. Often successful leaders lose respect because of absence of empathy. They feel that they can do anything and get away due to market acceptance. The author cautions that to build one to a position of power, empathy should be shared with others, because at the end of the day one has to exercise power in a group which can be a team or company. This will automatically lead to the inculcation of the sixth quality, which is ability to manage conflict. Otherwise, it can lead to awkward situations, leading to opposition and ultimately resignations. Managing conflict is hence important.

The last quality required is intelligence that involves dealing with work and people. We need to accept that we cannot be knowing everything as that can lead to arrogance. Even knowing when to stop requires intelligence.

The author takes us through reasons why people lose power, which can be due to overconfidence, ignoring interests of others, trusting the wrong set of people, becoming impatient, getting out of touch with the changes taking place and so on. The reader can then match the seven qualities to the reasons for failure.

Power is a very good book for everyone pursuing a career as it helps one to seriously navigate the different steps in a career to reach the desired position. Admittedly the journey is long and challenging, but it is doable; and that is why there are several such success stories— not just leaders but also common people who are referred to in the book who have made considerable strides.

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