With changing markets and new opportunities, rising User expectations, the increasing need to leverage technology for advantages, constant change and disruption, etc. – an effective CEO leads by having :
A. Great insights on opportunities and navigating change
B. High awareness of challenges and what’s needed to move the organization forward
C. An appreciation and competencies to manage the changing nature of risk
D. The ability to –
- get buy-in for the new vision from stakeholders
- leverage current capabilities for advantage
- develop new competencies
- effect change
- create meaningful new value
For this to occur is why being good at “ Digital Transformation ” and “ Innovating for Impact “ are important. This includes implementing new tools, platforms, and business models as well as changing processes and expanding capabilities to create new value, meaningfully improving outcomes for Customers, for competitive differentiation, expanding opportunities as well as increasing relevance and revenue for the business, etc.
So, what’s a CEO to do ? Be very good at –
- Setting Objectives and Ambitions for Transformation & Innovation initiatives
- Implementing new technology and digital capabilities, entering new markets, and creating new products
- Disruptive Business Transformation & Innovation
- Setting ambitious targets and utilizing metrics that matter
- Assessing Innovation and Transformation Readiness
+ Know how to effect change –
A. When ambition and readiness are high, the CEO plays the role of “ Cheerleader ” and “ score keeper ”
B. When ambition is high, but readiness is low, the CEO needs to be significantly involved in execution
C. When ambition is low, but readiness is high, even if the CEO’s ambition is modest, pockets of the organization are likely eager for change, and the CEO should identify these people or groups and support their efforts
D. When both ambition and readiness are low, the CEO needs to step back and reflect on balancing the tensions between the strategic imperatives and the organization’s realities
Summary
One of the CEO’s most crucial roles in leading through change and disruption is to be ahead of the organization and be more ambitious about realizing “ the art of the possible ” than everyone else. And recognize the endgame is making sure the CEO drives a better organization that evolves, creates new opportunities, and value as well as meaningfully increases relevance and revenue. And learning how to Innovate for Impact and leading a successful Digital Transformation is essential for a CEO and the organization to –
- Become more entrepreneurial and opportunistic
- Attract and retain top talent
- Create new wealth
- Better manage the changing nature of risk
- Improve the probability of success going forward
With these being significant benefits, please see the full article at https://www.cail.com/achieving-business-success-with-ceo-leadership/
In addition, you are welcome to contact CAIL if interested in sharing insights and exploring the options to meaningfully improve outcomes in your organization.
Aug 19, 2022 CAIL Innovation commentary 905-940-9000 info@cail.com www.cail.com/BI