Prøve GULL - Gratis
HOW TO BE A LOUSY BOSS
Personal Finance
|December 2022
AS A case study in how to implement organisational change, Elon Musk's actions at Twitter will go down as the gold standard in what not to do.
-
Among other things, the evidence shows what successful organisational change requires: a clear, compelling vision that is communicated effectively; employee participation; and fairness in the way change is implemented. Trust in leaders is also crucial.
Musk, the world's richest man, appears in a hurry to make Twitter into a money spinner-but it takes time to understand the requirements for successful organisational change. Two in three such efforts fail, resulting in significant costs, a stressed workforce, and loss of key talent.
Change management never quite goes to plan. It's hard to figure out whether Musk even has a plan at all.
Musk's 'extremely hardcore' style
Since taking over Twitter on 27 October 2022, Musk has stopped employees working from home, cancelled employee lunches, and laid off about 3 700 employees-roughly half of Twitter's workforce. Many realised they had been sacked when they could no longer access their laptops.
Just days later, it emerged that Musk had a team of snoopers comb through employees' private messages on Slack, firing those who had criticised him.
Then, on 16 November 2022, Musk sent an ultimatum to staff to pledge commitment to a new "extremely hardcore" Twitter that "will mean working long hours at a high intensity". Employees had until 5 pm the next day to accept, or take a severance package. About 500 staff reportedly wrote farewell messages.
Musk appears not to have anticipated this reaction. As the 'hardcore' deadline approached, he started bringing key staff into meetings, trying to convince them to stay.
Denne historien er fra December 2022-utgaven av Personal Finance.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Personal Finance
Personal Finance
Still chasing 3%
SOUTH AFRICA'S headline consumer price inflation rose slightly to 3.4% year-on-year (YoY) in September, from 3.3% YoY in August, while the monthly change in the consumer price index (CPI) registered 0.2%.
3 mins
November 2025
Personal Finance
When laws governing marriage collide
Black Coffee and Enhle ruling sends a clear message: customary and civil marriages are of equal legal standing
4 mins
November 2025
Personal Finance
The rand's journey against the dollar in 2025
Unpacking the undervaluation, and economic implications
1 mins
November 2025
Personal Finance
Tokeni- sation of traditional securities
A strategic evolution in market infrastructure
3 mins
November 2025
Personal Finance
The debt trap, and how to get out of it
There are institutions which can help if you're in debt
3 mins
November 2025
Personal Finance
10 steps to start trading
TO START anything in life, no matter what it is or how long it may seem, you need to take the first step.
1 mins
November 2025
Personal Finance
Optimism returns to SA's housing market
Rate cuts are starting to have an impact
4 mins
November 2025
Personal Finance
Premises, people, and privacy L
3 key threats facing businesses today
3 mins
November 2025
Personal Finance
The maths behind gambling
YOUR FRIENDS who gamble may brag about their “wins,” but here’s the truth … no matter what type of gambling, in the long run, the gambler always loses.
3 mins
November 2025
Personal Finance
Busting the accounting jargon
FINANCIAL STATEMENTS are the cornerstone of corporate reporting and decision-making, and are often the first section that one turns to when looking at a company's annual report.
3 mins
November 2025
Translate
Change font size
