Five lessons from Manchester United’s Professor Moyes

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Five lessons from Manchester United’s Professor Moyes

by Andrew Hill

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Sir Alex Ferguson, Manchester United's legendary manager, had retired last summer, before picking his Scottish compatriot David Moyes as successor. As English title defender, Man Utd is now at a miserable 7th position on league table. As a result, Moyes was sacked on April 22rd.

Good morning and welcome to the new Harvard MBA module on sports management. I’m assistant professor David Moyes.

You were probably looking forward to listening to Professor Sir Alex Ferguson. He is unavoidably detained, rewriting his first lecture on “Successful Succession Planning: How to Hand-Pick a Man to Look After Your Legacy”. But, having raised your expectations, he asked me to try to fulfil them – something I have got used to doing.

I’d like you to take away five key lessons from this morning’s lecture:

Lesson One. Never, ever, agree to take over from a legend. Someone is bound to end up disappointed. (Just ask Jeff Immelt at General Electric – and he’s had nearly a decade and a half to convince shareholders it doesn’t matter that he’s not Jack Welch.)

Lesson Two. If you must take over from a legend, do try to make sure that said legend is either dead, distant or otherwise unable to turn up every week to watch how you’re doing your job. (Chief executives whose predecessor was recently elevated to the chairmanship may sympathise.)

Lesson Three. If your success depends on the quality of your team, and the quality of your team depends on how much the shareholders will pay to maintain it, don’t take a job where the owners are bent only on squeezing costs and assets. (Chief executives of investment banks, please note.)

Lesson Four. It’s going to take time to convince the team that you’re the right person to take charge. At least make sure that you gain enough of their confidence to achieve one of your key performance indicators – whether that’s a place in the Champions’ League or a quarterly sales target.

Lesson Five. If you can’t rely on shareholders’ patience (and, let’s face it, shareholder patience is a scarce and changeable commodity, whatever business you’re in), at least make sure you’ve packed your golden parachute.

Thank you for listening and now – please excuse me – I have an appointment with my lawyers.

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