swap the battlefield for the boardroom.

CEOs love a good war metaphor — “battlegrounds,” “offensives,” “fighting for market share.” It sounds bold. Strategic. Even inspiring.

But new research from João Cotter Salvado and Donal Crilly shows that this language may backfire — especially with financial analysts.

📉 Analysts interpret war metaphors not as strength, but as signals of recklessness and risk. In fact, just a 1% uptick in war-related language can lead to a 20% increase in negative analyst sentiment.

In volatile markets or for dominant firms, the effect is even worse.

💡 The takeaway? Words matter. Especially when the audience is trained to assess risk.

👉 Leaders: Swap the battlefield for the boardroom. Choose metaphors that signal stability, not chaos.

João Cotter Salvado and Donal Crilly

"Research: When CEOs Use War Metaphors, Analysts Worry," Harvard Business Review. January 3, 2025

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