Posted: 30 Nov 2014 09:56 AM PST
I have noticed that people prefer to compete against the senators' sons. Presumably, privileged though they may be, the senators' sons are easier rivals than a group chosen according to their ability. People seem to feel uncomfortable giving this answer in a public setting, perhaps because someone there might be a senator's son and could take offense (although he may not understand the insult). But keep in mind that we prefer to compete against the senators' sons not because we think that they all are weak performers. Any one senator's son might be quite sharp. Rather, our intuition is that the privileged group is weaker on average than the average of the merit-based group. This is the senators' sons problem: Privilege and merit sometimes are negatively correlated. But why?
So here is the question for you and your organization. How much do you rely on privilege to win in your markets? How much of your performance is based on merit? And, inside your organization, do you reward privilege or merit? In my view, great leaders build companies that win on merit - and inside their firms create systems that reward merit.
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