What if Everyone in Your Company Thought Like A CEO?
September 24, 2021
After thirty years of working with over 1000’s of CEO’s in eight different countries with revenue from $35 million to $800 million people always ask, “Is the way a CEO thinks really different than how others think?” My answer is “the good ones always think different than anyone else.”
CEO’S and managers at all levels need a new and complete mastery of both the foundations of solid management thinking and the practical application of the essential business disciplines.
FOUNDATION 1: BUSINESS PHILOSOPHY
Learning to think like a CEO will improve the performance of managers at all levels. Develop a business philosophy consisting of fundamental business principles, your own personal management philosophy and your insights into a particular business opportunity.
FOUNDATION 2: STRATEGY
The objective of business strategy is to establish a competitive edge in the marketplace that will allow a company to prosper by offering a long-term better value to its customers. The strategic process involves matching the organization’s internal resources to the external market.
DISCIPLINE 1: BUSINESS OPERATIONS PLANNING
Validate strategies, allocate resources, and prepare for implementation. Project the actions required, resources needed, and results expected to carry out your strategy.
DISCIPLINE 2: PEOPLE MANAGEMENT
The strength of a business resides in the minds of its people; manage accordingly. Human concerns are always an issue. Look closely at your people. Organize the work to make their weaknesses irrelevant to their performance. Face up to mediocrity.
DISCIPLINE 3: CAREER MANAGEMENT
No business can continue to grow and prosper without nurturing its young managers. Help new managers to know themselves, to communicate effectively, and to make ethical decisions.
DISCIPLINE 4: SALES
Understand the difference in sales responsibilities for CEOs, sales managers, and sales people.
DISCIPLINE 5: NUMBERS
The primary task of accounting is to help operating managers make better decisions. Equally important is its role in developing sound operating controls.
DISCIPLINE 6: BANKING
Bankers are often bad partners. Bankers offer one-sided deals that require you to accept 100 percent of the risk and the bank to accept none.
DISCIPLINE 7: CASH MANAGEMENT
Cash is king. No cash, no company. End of story!
DISCIIPLINE 8: TOUGH TIMES AND TURNAROUNDS
Survival displaces all other rules of management during tough times. Survivability depends on cash, credit, and product viability.
DISCIPLINE 9: ACQUISITIONS
Don’t buy it if you can’t improve it. Compare the cost and viability of expansion by acquisition to that of internal development.
DISCIPLINE 10: LEADERSHIP
Leadership is a matter of combining trained intellect, insightful intuition, and superior character, with character being the dominant factor. The secrets to leadership are passion, motivation, ethics, courage, communication, judgment, and insight.
Posted on September 24, 2021 by Donna Hover-Ojeda at 9:47 am | Catigorized under Management. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.