Eckert adds, “As the new guy, I realized that every first encounter with a Mattel employee had the potential to be fraught with tension, and I felt it was my responsibility to do everything possible to reduce it. Surprisingly, I found that in each situation, recognizing my own lack of knowledge about the company’s people and culture - in effect, allowing the employees to be the ‘boss’ in certain situations - actually helped me lead.

The first thing you ought to do if you’re the new person in charge is nothing,” says Schacht. “I have learned this over and over again. Resist the temptation to ‘hit the ground running.’ It is absolutely almost certain to be wrong.” He stresses this is even true in a crisis situation.

Let’s face it, no one, regardless of how experienced or talented, is equally adept at every aspect of a job. In any case, as Immelt points out, even if you are above average across the board, no leader has the time to concentrate on every aspect of the job, especially in the earliest days of a new position. Think about where your personal involvement will yield the most leverage and where someone else might do an even better job.

As you take over your new leadership assignment and forge your team, you need to be sensitive to how each individual will be motivated. Great leaders tailor their management styles to the recipient rather than approaching the top team from a one-size-fits-all perspective.

One of the major traps for new leaders, however, is to select the wrong priorities - or, more colorfully stated, pick the wrong battles.