Develop effective skill to become CEO

BY Admin Jul 09, 2018

Chief Executive Officer is highly important and responsible post for any organization. Individual who want to get success as a CEO of company must possess some effective skills. Efficient and Great CEOs do not have innate capability instead they are created through learning, failing and acquiring new experiences.

There are some major qualities that distinguish the CEOs and senior managers of leading firms. The CEO is considered as great manager, a leader par excellence, anidealistic who can drive his/her team and company to achieve objectives.

There are some managerial skills that can make managers to successful CEO of a company: Ruthlessly prioritise:Success in any part life is strongly associated with prioritisation.This principle applies to management careers too.While there is a propensity for many executives to accrue/hoard many tasks, it is important that they must focus only on those tasks that have the greatest impact on the most important set of stake holders.Using the Pareto principle, managers should prioritise their attention on 20 per cent of the cause (inputs) that is attributable to 80 per cent of the effect.

For successful CEO of company, it is imperative to balance time, focus on correction, prevention and anticipation.Managers are in important position in company and they are highly paid to make decisions. Decisions would also include correction of an adverse output/result.Many managers wisely manage bad situation and restoring the performance level back to normality.

However, sometimes, it is observed that the problem recurs.This is awarning that the manager has not spent sufficient time on prevention of the problem. Hence the root cause(s) were not identified and removed.Still problems can persist.To avoid third level problem recurrence, it is significant for managers to anticipate and the discipline of scenario planning.

They need to balance time focus on others and themselves.

Though CEO is responsible position but they must not stick to careers and leave other work.It is important for a manager to take time off from his work every day for few minutes or few hours.This stoppage helps the manager to reproduce and energize to take wise decision and concentrate on work. It is generally observed that some managers try to satisfy stakeholders and forget to serve themselves, in terms of slowing down and reorganising their energy transmission and energy loss processes.

Successful CEO are willing and able to log in the extra hours which is needed to make a meaningful difference to the lives of internal and external clienteles. It is because mission mode initiatives and goals cannot be always limited to '9 to 5' office timings. Managers must have to spend extra hours but it should not be out of compulsion, but they can choose work for achieving goals.When work is more challenging due to competition, it is better to stretch to get noticed.

It is not necessary to expertise in functional/specialisation language. Bosses can speak systems language or speak manager/leader language.

In today's competitive business world, managers are successful CEO who can solve stakeholder issues that affect their daily lives. There are numerous core skill sets of CEO that are more important today to get success.

  1. CEOs need to be co-operative. This skill is essential in convoluted business environment. CEOs should also know how to cooperatewith employees and other affiliated groups, governmental authorities, and key organizations and businesses in the community. CEOs should also be open to building associations with other providers, as well competitors. These partnerships may be the best way to provide services to the greatest number of people in the community. They may also be the most economically responsible way to provide services.
  2. Another major skill of CEOs is that they should have technological acumen. There have been numerous technological developmentsin business. CEO's must develop ability to cope up with these advancement and thrive in global business market. They should be familiar with technology, so that they can discuss organization wide issues and direct their IT department effectively.
  3. CEOs must be visible. It is good practice to be involved with the community, visit the divisions of organization to know the issues of employees and other departmental problems.
  4. CEOs needs to bepolitical advocates. It is crucial that CEOs are able to effectively advocate for their organizations to local, state, and federal legislators and regulators.
  5. Other important skill that CEOs must possess is negotiating. He should be good negotiator. CEOs should improve their negotiating prowess so that they can secure better contracts with payers, and develop partnerships or service agreements with other providers that will be successful for their organizations long term.
  6. CEOs must possess creative skill as business environment is constantly changing, and CEOs will have to adapt, act quickly, and be decisive.

It is understood that The Chief Executive Officer of company is responsible for leading the development and implementation of the Company's long term policy to create shareholder value. The CEO's leadership role also involves being ultimately responsible for all day-to-day management decisions and for implementing the Company's long and short term plans.

The CEO acts as a direct link between the Board and management of the Company and communicates to the Board on behalf of management. The CEO also converses on behalf of the Company to shareholders, employees, Government authorities, other stakeholders and the public. Therefore, they must be knowledgeable, and hone skill to run business successfully.

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