Analysis Of Tim Irwin´s Derailed: Five Failures Of Leadership

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Tim Irwin, Ph. D describes four “critical qualities” for leaders in his book Derailed: Five Lessons Learned from Catastrophic Failures of Leadership. These qualities are authenticity, self-management, humility, and courage. He developed the characteristics that derail a leader from each of these qualities, as replicated in the appendix, from his analysis of six derailed leaders and many years of study. Derailment is a gradual process that can be avoided by implementing and enforcing those critical qualities as an ethical and effective leader (Irwin, 2009). Off the Rails Irwin defines derailment as failed character or character flaws that cause someone to loose focus of the corporate goal or fail to lead in an ethical and successful manner. He notes that if time is taken periodically to reevaluate and readjust character, derailment would be far less likely. However, in order to reevaluate, one must be able to remain honest in the judgment of the need for adjustments,…show more content…
Initially, the company was favorably labeled a “financial behemoth” under Raines’ direction and goal to “issue bank loans to individuals with low to moderate income.” However, the term “financial behemoth” soon gained a new meaning for Fannie Mae. One of the company’s accountants, Roger Barnes, was one of the main whistleblowers to provide evidence that financial information was “being manipulated to meet earnings targets.” Barnes was strongly discouraged from pursuing the issue, but it eventually came to full light. The “primary derailers” that Irwin proscribes to the situation is that Raines had “a lack of authenticity, a lack of humility, and a lack of courage.” Eventually, Raines not only paid out millions in fines, but also caused Fannie Mae to pay a $400 million civil fine as a settlement (Irwin, 2009, p. 67 –

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