American steel companies were struggling to compete against foreign steel companies that produced and shipped steel to America at a lower cost than American companies could make steel in their own country. Industry executives begged for protection against imports, but they were overwhelming. One executive did not. Ken Iverson was CEO of Nucor. Iverson, strikingly, viewed imports as a blessing. Unpopularly, he actively opposed government protectionist policies. According to Iverson, the problem was not foreign companies but poor management in America. Iverson said that American management was not keeping up with the pace of innovation. According to Iverson the American executives were responsible for being outperformed and not importers.
Arif Bhalwani Third Eye Capital is one example of a successful executive expert. He feels personally responsible for their actions. Simply put, people who reach great heights in sports, business, or any other endeavor believe that their fate is in their control. They believe that they are responsible for their success. They easily blame the failures of others, even if they are less skilled.
To achieve higher levels of expertise, it is important to feel responsible. Here’s why: When you feel responsible for your success or failure, you are more likely to work hard and learn what is needed to be successful. If you think that what happens is out of your control, you are less likely to take responsibility for the results and work harder to make a poor performance great.
Managers who are not a good fit for the job lose sleep worrying about what may happen. Expert executives stay up late to find ways to make tomorrow better than today. They are accountable for any problems or deficiencies that they face, believing that both their abilities and responsibilities can solve them. Expert executives are able to find better solutions for similar situations.
This is a critical component in developing expertise, for when you feel personally responsible, you work diligently to a satisfactory-or even superior–resolution. It is easy to let go of failure and not learn from it. Experience alone doesn’t make you more knowledgeable. You can:
a) Don’t take responsibility for your mistakes
b) You don’t do anything to them.
c) You will therefore never improve.