Canadian CEOs Don't Know They're Chickenshits

Excellent piece in Canadian Business magazine on the illusory superiority of Canadian CEOs. They all think they're courageous. But they aren't. It will remind you of that poll some years back that found 94% of college professors think they're above average. Big difference is that CEOs get paid like they're courage is real:

"A 2011 study by Deloitte found Canadian executives to be far more risk-averse than their U.S. counterparts. A follow-up study released this fall confirmed we’re a milquetoast nation. The management consultancy surveyed 1,200 business leaders across the country, probing them on their tolerance for calculated risk and challenging the status quo. They concluded only 11% of Canadian firms could be considered “courageous,” while another 30% were headed that way. Such bravery eluded most respondents, however, with 43% classified as “hesitant” and another 15% viewed as “fearful.” Canadian firms “shy away from making key investments and executing dynamic strategies,” the study concluded. This reluctance hurts them. Seven in 10 of the courageous firms saw revenues increase last year, compared with less than half of the fearful ones.

Most worrisome, the executives didn’t realize they have the hearts of chickens. More than 40% of those surveyed identified their companies as “courageous,” four times the number that met the researchers’ standard."