These are the men & women of the moment, the people who are heading multi-billion dollars’ worth of businesses all around the globe, they are running the world’s economy and making differences in the lives of millions they employ – they are known to us as CEO. The Chief Executive Officer of a company, the highest point of decision making in a business organization, and the person who is responsible for the success or failure of a business. The Chief Executive Officer is responsible for the running of the company, that is, its management, organization and well-being. They report to the Board of Directors in the company and offer leadership, direction and purpose to it.
CEOs are generally leaders, they are entrepreneurs who are functioned to lead a business house towards success, and they form the strategies, manage tasks, delegate responsibilities and are lone communication point between the corporate functions of a business and the board of directors. They have emerged as the most important people in the corporate world because of the influence that their position wields on the fortune of a company. A CEO can make or break a company with his/her actions. They are the most-sought after species in the corporate world because the qualities that are required to be an A-grade CEO are a rarity and perhaps that is the reason why they are so handsomely paid. Below we list out the ten qualities that make for a great Chief Executive Officer.
1. Capacity to Inspire – For when the chips are down
A CEO needs to have the uncanny ability to see in the future and also make his team members see the same image he sees. He needs to keep inspiring his team towards achieving the goal and required tasks during time when energies will be fading, stress will overtake and nothing will seem going right. A good CEO will recognize that in order to keep his staff motivated and productive he/she will not to give them a break now and then. Inspiration can come from making the employees feel part of the bigger plan through equity shares in the company, bonuses or other benefits.
2. Dedication – Vital for success
When you as a leader will lead by example in delivering quality and hard work you will be able to motivate and expect the same out of your followers too. By being in the trenches with others at work and being totally dedicated to the goals and values of the company will you be able to earn the respect and admiration of your juniors who will then try to emulate you. By setting the standard of dedication him/herself a CEO can keep getting the quality of work he/she needs on a regular basis.
3. Creativity – Getting out of the comfort zone
A quality that keeps all the successful CEOs remain successful is creativity. In the world of cut-throat competition and constant challenges, one needs to be able to think on their feet and find new and improvised ways of solving challenges and getting out of tough situations. In critical situations your employees will look to you for guidance and motivation, and your creativity will help them get out of such situations.
4. Rewarding small achievements – Celebrating success
A CEO today needs to be able to realize the small achievement of his team and should celebrate these achievements which will lead to the achievement of the bigger goal. CEOs should be able to recognize such opportunities for celebrations as it helps the team to keep their focus on the larger goal, understand they are moving in the right direction and also imbibe the concept of change healthily.
5. Positivity – A great virtue
A quality that that goes hand in hand with humor, positivity is a quality that all great leaders have and CEOs are no exception to it. When the tide is against you it is the eternal optimist who sails through in the end and achieves his/her goals. Positivity is also related to motivation which helps you in keeping your team focused on the bigger picture; qualities like positivity and motivation are mark of a great leader as it helps them carry their team to the finish line when some of the members are losing steam.
6. Humor – A trait that can make light of tense situations
There will be many times when things won’t be going as you envisaged, when times will be hard, finances will be running dry or deadlines will be missed but in all such situations one can ease the tension by using some humor and that humor should come from the leader. Having sense of humor can help built great camaraderie, familiarity and ease the pressure on the team. As a CEO, you will greatly benefit if you can use humor to get out of difficult situation, laugh at mistakes and allow others the same friendliness. This helps in building a great and healthy environment at work full of productivity, energy and bond instead of fright and nervousness.
7. Communication – The difference between planning and implementation
A quality that every CEO will want to be absolutely excellent in, is communication. If you cannot express your ideas and vision to your team members than chances are that the team will probably never reach that common goal. Every CEO needs to be able to communicate not only his ideas to his teams but also his authority too. The secret to a vibrant, transparent and upbeat workplace environment is a well-laid out and efficient lines of communication that can make the whole organization work as a single unit. If you are lacking in this quality than you should better get started on honing it.
8. Delegation – A critical tool of a successful CEO
A very important function that every successful CEO needs to and should know how to perform in order to deliver the results for his/her company. Delegation is known as a management tool whereby the leader delegates or assigns some of his own tasks and responsibility to a junior. A mark of a brilliant leader is empowerment and delegation is one such way a CEO can empower his employees. As a CEO when you delegate your task to an employee you give him confidence and belief to deliver with the goods and in the process give yourself time to concentrate on important issues such as strategies and development plans. The key to being able to delegate tasks is to know and identify the skills and abilities of your team members, but be aware do not delegate too much as it might give the impression that you’re shirking your responsibilities.
9. Be the Change – Practice what you preach to your employees
“Be the change, you wish to see” – Mahatma Gandhi
Constant change is a mantra that every CEO believes in. In a constantly volatile and changing business environment it is important for business and their teams to change with the times. A CEO who expects his employees to change and better themselves or be adaptive to the changes in the organization should him/herself be the model of that change he/she seeks. Preaching something that you yourself don’t follow will be dangerous for the company and will yield no traction with the members of the team. A CEO needs to be a model to emulate and in order to get your message of change across to the team you need to work in tandem along with other highly-regarded employees who share your ideas of change and constant adaptability.
10. Integrity – Be the model of honesty
The most crucial quality of a leader no matter in whichever field he/she may be, integrity, is a quality that is a must have for every CEO. No matter what ethical values you hold your team should know that you expect nothing less than the highest level of integrity & honesty from them. The company and the team becomes the image of its leader and therefore a honest approach to every task is not only going to hold you in good stead in the long run but also make your teammate believe in your decision making.