4 Essential Behaviors to Learn, Foster and Master as a CEO
According to Harvard Business Review, between 2000 and 2013, about one quarter of CEO departures were involuntary. Forced turnover in the C-suite is responsible for over $100B in lost market value annually (What?!) These statistics can be daunting and confusing, suggesting that Boards do not always get it right when it comes to CEO hiring. What is going wrong at the top and what can leaders do about it?
Elena Lytkina Botelho, Kim Rosenboetter Powell, Stephen Kincard and Dina Wang conducted an in-depth assessment of 17,000 executives over 10 years and uncovered a significant disconnect between what Boards think makes a successful CEO versus what actually leads to high performance. So, what did they find? It turns out that top performers demonstrate the following behaviors:
CEOs must realize they can’t wait for “perfect” information. A partly right decision is better than no decision at all.?
?2. Impact Engagement: working to understand the priorities of all stakeholders and aligning those priorities around a goal related to value creation.
Not spending time and energy on being liked or shielding from painful decisions. Gain support by developing an understanding of stakeholder needs and motivations and drive performance by instilling confidence that you will lead the team to success even if it means engaging in conflict.
?3. Adaptation: a change or process of change where a person becomes better suited to their environment.?
?Focus on the long term goals, be proactive in your adaptation and treat mistakes as learning opportunities not failures. Adaptable CEOs spend as much as 50% of their time on long term goals.?
?4. Reliability: the quality of being trustworthy or of performing consistently well.
Don’t ignore the importance of reliability, it is possibly the most important of the 4 qualities. The key here is setting realistic expectations in advance and working to align with the business. CEOs who rate high on reliability also tend to have strong organization and planning skills, surround themselves with strong teams, and follow through on commitments.?
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So, how would you rank yourself in these 4 areas? If you recognize the value of learning and mastering these behaviors and think you need some help developing these qualities in a technology and innovation landscape, Acetech might be right for you.?
"I can't adequately express my gratitude and appreciation for Acetech, and what it has meant for my growth as a leader. I went to my first event in early 2015, and was totally blown away / overwhelmed. Not only was the content completely transformational for me, but the warmth and generosity of the membership made me feel like a part of a (sorely needed) community right away."?
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