7 Key Focus Areas Being CEO

The titles Managing Director (MD) and Chief Executive Officer (CEO) are typically mean the same thing. Both refer to the operational leader of the business. In India, mostly MD is well known title than CEO. CEO is more famous title in western countries.

I am sharing here few key areas which CEO should focus on.

1. Clarity on Bigger Picture :

CEO need to listen unseen surround, study market conditions and should create bigger picture of business strategy. His/her drawing ability of business forecast is going to help company to know where to invest.

S/he need to plot detailed plan to -

• know key impact client relationships
• identify team members can contribute most
• choose proper sales channel 
• find most profitability in cost factors
• forecast cash flow with both outflow and inflow into consideration

2. Company Values, Ethics & Culture :

"Apart from values and ethics which I have tried to live by, the legacy I would like to leave behind is a very simple one - that I have always stood up for what I consider to be the right thing, and I have tried to be as fair and equitable as I could be."

~ Ratan Tata

Looking at CEO, you can conclude culture, values and ethics of any organization. Many times you can see, new CEO who has replaced old CEO - changes entire company's culture or value system in such a way that it impacts till ground level. The message always flows from top. In such CEO changes at few big companies around, I have seen impact heavily on attrition ratio too.

These are the invisible strings which influences your team's behavior and decisions in different situations. It is key contributor to attracts and retains great talent. It produces amazing results, if you have invested lot on values, ethics and culture of your company.

3. Groom Leadership Team :

Developing, supporting and motivating a leadership team is crucial part of CEO's role. No matter how busy you are, you need to spend time with your leadership team. Any disconnect should get resolved on time. You can arrange periodic meetings, training and other team building activities for them.

Small small things matters a lot. Communication is key, it helps a lot. Also motivate your leadership team to build their team more effectively.

4. Sharing Vision with Stack-holders :

Every stack-holder who might be your team, your investors or any such important people - all should be aware of your mission as a company or differentiation of your business. It helps you in many ways, as this messages goes long ways to people who are connected to your stack-holders.

Also such sharing should be encouraging and engaging for each one. Never hesitate to take opinions of each stack-holders, sometimes they can give you some idea or directions which will be amazing successful path for your business.

5. Eye on Short Term & Long Term Goals :

CEO need to plan milestones to achieve goals. Few goals can be low hanging fruits, few will be high hanging fruits.

Clarity on short term and long term goals, helps in proper investment of resources during executions. CEO need to monitor each goal periodically. Every good news and every bad news is important in any business.

"Ignoring bad news is the shortest way to failure."

~ Bill Gates

6. Monitor Cash Flow :

"Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1."

~ Warren Buffett

There would be someone like CFO who will be responsible for making sure you never run out of money. Still, as an overall accountability CEO need to monitor cash flows. Every execution needs money, its truth. There are employees, who are earning and they have families too. Investment of resources for business and collection of payments, both should go hand on hand.

7. Ownership of Failures & Success

There are many leaders who are in your team to be held responsible for any failures. CEO should always be aware of what is happening at each delivery at high level to predict failure or success beforehand. If there is success, s/he should not hesitate to congratulate and appreciate team. If there is sudden failure, instead of blame games on team, s/he can find route causes - and guide/support leadership team make corrective actions in all possible ways.

Finally, CEO has to take ownership of his ship. CEO is driving force for entire organization.

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We, GrassDew IT Solutions Pvt Ltd provides consulting services, software solution services, security services, digital marketing and knowledge services.

To know more about our services you can contact me at shekhar.pawar@grassdew.com

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