Executive Heroes and Goats

From The Motley Fool, By Selena Maranjian - September 14, 2005

"Courage is contagious. When a brave man takes a stand, the spines of others are often stiffened" -- Billy Graham

I'm not sure how correct Billy Graham is. It seems to me that in the corporate boardrooms of America, the courage that has been exercised over the years has not exactly resulted in an epidemic of imitators. But perhaps that's asking too much. Perhaps the courage of some has indeed led to more bravery in corporate circles. (This would be despite a tendency of many of us to think, as Mason Cooley noted, "Courage, determination, and hard work are all very nice, but not so nice as an oil well in the backyard.")

Courage is not a concept discussed often in the financial world. Yet it can make an enormous difference in how a company fares. Courage can lead to brave decisions to enter new business lines. It can inspire employees and attract customers. It can simply offer the chance to sleep soundly, with a clear conscience. I read an interesting roundup the other day in Fast Company magazine of 10 courageous leaders in 2004-2005 and 10 corresponding "cowards of the year." I want to share some of them with you here."

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