Zoe Cruz appeared to be surviving the credit crisis that has roiled Wall Street...but...Ms. Cruz's departure from Morgan Stanley came abruptly last week.
The Morgan Stanley co-president's response in the aftermath of the firm's $3.7 billion in losses helped fuel her ultimate fall. The 52-year-old executive didn't take personal responsibility for the losses at Morgan Stanley, according to a report in the December 1, 2007 Wall Street Journal. Instead she lashed out at fellow employees in a series of meetings about the losses, raising questions about her management style. She also had pushed some big organizational changes that some executives thought of as arbitrary and ill-informed.
As a result, Morgan Stanley Chief Executive John Mack lost confidence in Ms. Cruz, whom he had repeatedly backed in the face of opposition from senior executives, these people say. Even before the mortgage-trading losses surfaced, Ms. Cruz's leadership style was an issue.
After Mr. Mack backed Ms. Cruz upon his return to the firm, he thought he could help Ms. Cruz improve her management style, and a personal coach was retained to work with her, people familiar with the firm said. But she didn't always display harmonious teamwork with her co-president, Mr. Scully, sometimes contradicting him in presentations.
Since the culture at most companies has been shaped over time by male executives, women are at a disadvantage when it comes to gender-based differences in communication styles.
A report, 'Women and Men in U.S. Corporate Leadership: Same Workplace, Different Realities?', by Catalyst, a New York-based nonprofit, found that 81% of women said that 'adopting a style with which male managers are comfortable' is an important or very important strategy to advance one's career.
Communication styles rooted in childhood training or unconscious beliefs can be tough to change. A first step is becoming aware of how you talk at work. Here are some pitfalls that women especially can encounter in the workplace:
--using too many words to deliver serious messages
--downplaying your contributions
--using vague language
--phrasing statements as questions
--using an upward inflection at the end of statements, which indicates doubt.
Working with an executive coach can help you to be clear on the communication style at your level within the company and to confidently practice this style so you will be heard at work. Of course, you must agree to be coachable before deciding to work with a personal coach.
If you know women executives in your organization who need to become better and more creative leaders, suggest you point them toward: www.CareerWomenCoaching.com