One of the toughest jobs in the world is being a chief executive officer (CEO) of a company, big or small.
“Life at the top isn’t all it’s made out to be.”
Global leaders have very little time for themselves or their families.
“To be the final decision maker in a multibillion-dollar business with hundreds of thousands of employees and pensioners relying on you is an awesome responsibility.”
How well a CEO handles pressure and stress defines their success.
“Just like being a top athlete, being a CEO requires that you are as close to your best as much of the time as possible.”
Despite the sacrifices, CEOs get the opportunity to make a real difference.
“Corporate entrepreneurs have something to prove. They disrupt industries because they believe in a better way of doing things.”
There are five predominant CEO types – “commercial executors, financial value drivers, corporate entrepreneurs, corporate ambassadors” and “global missionaries.”
“Relying too heavily on customers telling you what they need is always risky: no one asked for an iPod, remember.”
Human resource issues and recruitment of quality talent has become a major challenge for CEOs.
“We are at the outset of the first world war for talent, driven principally by unfavorable demographics in the West, skills scarcity in the East, a worldwide shortage of global leaders and the frequency with which employees are now shifting jobs.”
“Today, most companies fill vacancies reactively, a resignation putting them on the back foot, scrambling to locate good enough candidates.”
“Most CEOs do not even know their top 100 people in detail.”
The “command-and-control” model of dictatorial executive leadership has been deemed outdated.
“Tomorrow’s CEO will abandon the outmoded command-and-control model that is too inflexible for the modern business environment.”
CEOs who are financially driven and make efficiency their top priority reacts slowly to rapid changes in their industries or the economy.
“Share price growth depends on increasing profits year on year, and it’s difficult to see better opportunities for sustained growth than in Asia.”
New corporate entrepreneurs thrive by conceiving profitable new ways to disrupt industries and defeat competitors.
“Chief executives agree that in the next decade the global economy and business world will change on a scale not seen in 200 years.”