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What makes a good business leader? | What makes a good business leader? |
(2 days later) | |
Humility, doubt and the ability to make mistakes. | Humility, doubt and the ability to make mistakes. |
These are some of the answers I'm given to the question of what makes a good chief executive. | These are some of the answers I'm given to the question of what makes a good chief executive. |
Since the World Economic Forum is full of them (good, bad and ugly), I reckon it's a good place to ask. | Since the World Economic Forum is full of them (good, bad and ugly), I reckon it's a good place to ask. |
"Don't believe your own brilliance" says Arne Sorenson, chief executive of Marriot Hotels and the first non-Marriott to be entrusted with leading the company in its 88-year history. | "Don't believe your own brilliance" says Arne Sorenson, chief executive of Marriot Hotels and the first non-Marriott to be entrusted with leading the company in its 88-year history. |
"You need to be curious and you need to be doing more listening than talking." | "You need to be curious and you need to be doing more listening than talking." |
"It's possible to glorify the position of CEO… it's important that they should not be the only one making the decisions. Nobody is that brilliant." | "It's possible to glorify the position of CEO… it's important that they should not be the only one making the decisions. Nobody is that brilliant." |
Authenticity | Authenticity |
You need a certain amount of rebellion within the team, he says in a crushed corner of the congress centre in Davos. And if you don't, you're doomed. | You need a certain amount of rebellion within the team, he says in a crushed corner of the congress centre in Davos. And if you don't, you're doomed. |
He also mentions the need to be authentic. Surprising, perhaps - but apparently he's not alone in thinking that's important. | He also mentions the need to be authentic. Surprising, perhaps - but apparently he's not alone in thinking that's important. |
Tim Morris, professor of management studies at Oxford University, was part of a team that carried out a study into the expectations of today's CEO. | Tim Morris, professor of management studies at Oxford University, was part of a team that carried out a study into the expectations of today's CEO. |
They interviewed more than 150 chief executives about their job and although they had specifically avoided the word authentic, because they thought of it as too much of a buzz-word, it kept being brought up by the bosses themselves. | They interviewed more than 150 chief executives about their job and although they had specifically avoided the word authentic, because they thought of it as too much of a buzz-word, it kept being brought up by the bosses themselves. |
"It's clearly important to them," says Prof Morris. | |
"Chief executives feel that they can't get people behind them unless they're authentic." | "Chief executives feel that they can't get people behind them unless they're authentic." |
"The traditional way of thinking about the good leader would be that they deliver for the shareholder and they survive because they deliver profits and keep people happy. | "The traditional way of thinking about the good leader would be that they deliver for the shareholder and they survive because they deliver profits and keep people happy. |
"But, for the people we interviewed, the job of chief executive was much more complicated than that." | "But, for the people we interviewed, the job of chief executive was much more complicated than that." |
But, I'm wondering, isn't it authentic to deliver profits? Isn't that what the job of CEO is? | But, I'm wondering, isn't it authentic to deliver profits? Isn't that what the job of CEO is? |
Apparently not any more. | Apparently not any more. |
According to Oxford University's research, chief executives nowadays feel that they have to be more approachable, engaged, and caring. Or, as one described it, the Chief Emotional Officer. | According to Oxford University's research, chief executives nowadays feel that they have to be more approachable, engaged, and caring. Or, as one described it, the Chief Emotional Officer. |
Self awareness | Self awareness |
And Prof Morris believes there won't be a return to the 'old-style' chief executive. | |
Leah Busque is relatively new to the business of being the boss. In 2008, she went from being a software engineer at IBM to setting up and running the company TaskRabbit. | Leah Busque is relatively new to the business of being the boss. In 2008, she went from being a software engineer at IBM to setting up and running the company TaskRabbit. |
New to the UK, the American website helps people find someone in their area to do a job for them, and now has about 50 employees. | New to the UK, the American website helps people find someone in their area to do a job for them, and now has about 50 employees. |
She says she didn't have or need any training in leadership, but that she thinks the key is that she is self-aware enough to know when to bring in other people to fill in the gaps in her knowledge. | She says she didn't have or need any training in leadership, but that she thinks the key is that she is self-aware enough to know when to bring in other people to fill in the gaps in her knowledge. |
And it sounds like she's feeling the pressure to be more human. | And it sounds like she's feeling the pressure to be more human. |
"Showing vulnerability sometimes as a CEO is not a bad thing, but it's not always easy… CEOs don't like to be vulnerable, and show their weaknesses. Actually for me, it's something I have to really think about and really force myself to do." | "Showing vulnerability sometimes as a CEO is not a bad thing, but it's not always easy… CEOs don't like to be vulnerable, and show their weaknesses. Actually for me, it's something I have to really think about and really force myself to do." |
Establishing exactly how you do that is tricky. It's possible to try too hard. | Establishing exactly how you do that is tricky. It's possible to try too hard. |
"The worst thing you can do is go on an authenticity course", says Prof Morris. | |
"You need to be consistent with your values, your purpose, with what you want to do and why." | "You need to be consistent with your values, your purpose, with what you want to do and why." |
Prof Morris says the power of social media means that it's impossible to switch off and dealing with that required much more subtlety than in the past. | |
'Shut the door' | 'Shut the door' |
He says there's a feeling among the chief executives they interviewed that as soon as they wake up they're aware of their responsibility. | He says there's a feeling among the chief executives they interviewed that as soon as they wake up they're aware of their responsibility. |
"You can't just say sorry that's not my problem, I'll deal with it on Monday morning. There's a sense that it's all-consuming." | "You can't just say sorry that's not my problem, I'll deal with it on Monday morning. There's a sense that it's all-consuming." |
But he said a trait many of the executives had was an ability to shut the door on a decision after having made it. | But he said a trait many of the executives had was an ability to shut the door on a decision after having made it. |
The other factor that the CEO report highlights is how there is increasingly a global standard to the job. The answers and expectations in Japan and Korea, were not significantly different to those in the US or Europe. | The other factor that the CEO report highlights is how there is increasingly a global standard to the job. The answers and expectations in Japan and Korea, were not significantly different to those in the US or Europe. |
And indeed the clearest answer I got on what makes a good chief executive came from Sim Tshabalala, Co-CEO of Standard Bank, one of Africa's largest. | And indeed the clearest answer I got on what makes a good chief executive came from Sim Tshabalala, Co-CEO of Standard Bank, one of Africa's largest. |
"It's about knowing your industry but having the ability to lead people who know more than you," he says. | "It's about knowing your industry but having the ability to lead people who know more than you," he says. |
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