Are CEO’s Really Getting the Executive Support They Need?
With today’s hyper-competitive business landscape, staying on top of emerging trends, crafting winning business strategies, and having a supportive network of leaders to tap are critical components of being a successful CEO. Yet, as the leader of your organization, the responsibility of managing business strategy, growing your executive team, and achieving larger scale business goals rests squaring on your shoulders. Historically, CEO’s were thought of as specialists who had specific expertise and could propel their company in one particular direction. For example, Disney has been traditionally known for making movies and Apple for personal computers. However, with consumer preferences rapidly changing and as the business landscape continually shifts, CEO’s now must have a much broader view of how to run their organization and appeal to a larger set of consumer interests. With this perspective, it becomes clear that to grow a company like Apple, Tim Cook has to balance his focus on driving the laptop and desktop components of the company as well as growing the smartphone, mobile devices, television, and online music streaming services.
But, are today’s CEO’s getting the support they need to broaden their leadership approach? The answer may be a resounding, “No.”
In a recent study with 400 CEO’s, 47% of participants[1] said that growing their executive team has been a challenge to secure the skillsets and expertise they need to truly propel their organization forward. And, over 50% of CEO’s feel that they do not have the organizational support they need to get feedback and improve their decision-making process. Most participants also acknowledged that they have to “rely on their own judgment for many large or strategic decisions.”[2]
A more in-depth CEO research survey, conducted in April 2018 by AssociationsNow.com, found that executive leaders that have a more diverse social network comprised of CEO peer groups and CEO coaching often have higher rates of success as measured by their company’s annual growth[3].
CEO advisor consultants recommend joining leadership groups with executive professionals as a means to gain the business insight CEO’s need to take their leadership skill to the next level. Whether it is attending annual conferences, local business meetings, or even tapping into a community of CEO advisors and seasoned CEO’s can be an effective way to share best practices, learn about emerging business trends, and have a candid outlet for CEO’s to get the guidance they need to thrive in their position.
If you are not receiving the leadership or organizational support you need to achieve your business and professional goals, then we invite you to learn more about The Brain Trust. Our innovative and proven CEO peer group monthly meetings give you unprecedented access to a network of successful CEOs so you can receive the right guidance you need to drive business growth.
Click here to explore the benefits of joining The Brain Trust’s CEO advisory group.
[1] https://ceostudy.egonzehnder.com/The-CEO-report-Egon-Zehnder.pdf
[2] https://ceostudy.egonzehnder.com/The-CEO-report-Egon-Zehnder.pdf
[3] https://associationsnow.com/2018/04/study-ceos-diverse-social-networks-see-success/
