As executive coaches to CEOs, C-suites and boards, we see a lot of approaches to the role of the CEO. Some are successful and many are not. So what does a CEO do?
CEO Priorities and Key Responsibilities
Let’s start with the most important things CEOs need to be thinking about:
Emotional Intelligence (EI)
A CEO needs to be aware of their emotional self and in control of how those emotions are used and play out in the organization. The four quadrants of EI (self awareness, self management, relationships and managing others) are critical for a CEO. To quote a recent McKinsey article on Bad Bosses: “Narcissism. Overconfidence. Low EQ. Why do we persist in selecting for leadership traits that hamper organizational progress—and leave the right potential leaders in the wrong roles?”
Purpose
What is the company here to accomplish and how does it achieve profitability? In our studies of organizational resiliency, purpose was a leading attribute of success. Having a vision for the company’s future, developing a mission that drives the company, and creating the strategy for achieving the purpose are all key.
Funding
Does the company have enough money in the bank and pathway to sustainability? Cash cliffs and getting to and maintaining profitability are amongst the most common issues that plague companies. Fiscal management and investor relations are essential CEO responsibilities.
Leadership
To use Jim Collins’ metaphor, do you have the right people on the right bus and in the right seats? The talent a company starts with is rarely the talent that brings it through its growth stage. This includes all key roles in the company and the board of directors. A CEO’s assessment and management of talent is critical to the company’s success.
Culture
How should people behave and how should leadership represent the values behind behavior? A CEO’s leading by example is a great motivator.
Operating a business
The business’ operating system requires a number of things, including answering the following questions:
- What does a company measure (and how often) to show it is on the right track? Measuring performance at all levels (individual, project, team, department and company) is vital to getting to accountability and profitability.
- How often do leadership, teams, departments, and does the organization meet to talk about how it’s doing, where it’s headed, and other aspects of it’s journey?
- What reporting is used to keep tabs on the business? Does everyone see and use the same data, is noise rooted out and is there a common understanding of what the data means?
The Unique Challenges CEOs Face and the Role of Executive Coaching
CEOs sit in an unusual place in an organization. They are the ultimate authority in the company and are seen in ways by others that may or may not match how the CEO thinks and feels. The CEO carries all of the pressures of all of the company’s people, processes and performance. They are responsible for things that are usually beyond their awareness. And, CEOs need to be the resident expert on their business or at least know where to get answers within their organization. A difficult place to act from even in the best conditions. Dealing with all of these responsibilities is where executive coaching is vital. Having a coach who can be your partner in digging into these and other dynamics, helps you achieve success.
At Hoola Hoop, our CEO coaching focuses on these key factors of success. Through our executive coaching, we help the CEO understand their self, their team, their Board and other key stakeholders, building strong and successful relationships. We help the CEO grow, assess risk and build a sustainable enterprise.
Reach out if you would like to know more about CEO coaching at Hoola Hoop.
This is the first in a series on what the CEO does. Stay tuned every couple of weeks to dive into the above in more detail.
Eyal Goldwerger and Marc Maltz
Elevate your Executive Potential
Executive coaching that empowers leaders.
Hoola Hoop
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