By Mike Myatt, Chief StrategyOfficer, N2growth
- Lack of Vision: It is the role of the CEO toclearly define and communicate the corporate vision. If thereis no vision, a flawed vision, or a poorly communicatedvision, the responsibility falls squarely in the lap of executiveleadership. Moreover, if the vision is not in alignment with thecorporate values there will also be troubled waters ahead. Novision equals no leadership...
- Lack of Execution: Everything boils down toexecution, and insuring a certainty of execution is job number onefor executive leadership. If as an entrepreneur orCEO you don't focus on deploying the necessary talent andresources to insure that the largest risks are adequately managed,or that the biggest opportunities are exploited, then you have aleadership team destined for failure.
- Lack of Capital: Raising, deploying, andmanaging capital is ultimately the responsibility of leadership.The amount of capital required to run a business is based upon howthe business is operated. Therefore if leadership operates thebusiness without consideration for capital constraints, orirrespective of capital formation issues, then the blame shouldfall squarely on the shoulders of leadership. Morever, ifexecutive leadership squanders capital through irresponsibleacts, there will also be severe consequences.
- Lack of Management: It is the job ofleadership to recruit, mentor, deploy, and retain managementtalent. If the management team is not getting the job done that isthe fault off executive leadership.
- Lack of Sales: A lack of sales is ultimatelyattributable to a lack of leadership. Pricing, positioning,branding, distribution, or any number of other metrics tied tosales force productivity all rest with executive leadership.
- No Market: Good leadership pursues soundmarket opportunities. Pursuing the wrong market, or pursuing theright market improperly is also the fault of executiveleadership.
- Poor Professional Advice: Nobody has corneredthe market on knowledge and wisdom. If leadership doesn't seek outthe best quality advice available to them, then they will likelynot make the best decisions. All CEOs and entrepreneurs need topquality professional advisers.
- The Inability to Attract and Retain Talent:Great leaders surround themselves with great talent. Theyunderstand that talent begets more talent. If your companydoesn't possess the talent it needs to achieve its businessobjectives no one is to blame but leadership.
- Competitive Awareness: A business does notneed to be the category dominant player to avoid failure. Thatbeing said, it is the leadership's responsibility to understand thecompetitive landscape and navigate it successfully.
- Obsolescence or Market Changes: Ifexecutive leadership is in touch with the market it will bedifficult to be caught by surprise. It is the responsibility ofexecutive leadership to make sure that the properattention is given to innovation, business intelligence andmarket research to manage the risk of obsolescence and marketchanges.
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