IN TODAY’S era of disruption, a chief executive officer’s agenda should not be limited to something as simple as A,B,C, but he or she should be able to expand and be able to know what should be done in a fast-paced age.
During his talk at the general membership meeting of the Makati Business Club on Jan. 17, Emmanuel P. Maceda, worldwide managing partner of Bain & Company, a US-based management consulting firm, shared how a CEO should be during this time when change and disruptions are inevitable.
He noted that as a CEO, one is tasked to think and develop strategies for the business to grow. A CEO’s agenda is classified into four key points: strategy, people, execution and communication, and leadership, but these are not enough considering the rapid change happening in the world. As the CEO, one is tasked to identify what is the best for the company.
“The first job is you think of the strategy, ambition, and you can think of ambition in different ways. What is the mission, what is the vision. Think of that as a strategy,” Mr. Maceda said.
“Is it as simple as who’ll do it? We know how organizations work, so there is a lot of science around what a chief executive actually does. For better or for worse, the CEO sets it all. Your character, your values, your style,” he said.
In today’s world, setting up a business is not going to work without a vision. “In today’s environment, we think the vision has to be noble not just because it’s the right thing to do but because, frankly, without it it’s going to be too hard to compete.”
He also emphasized the importance of being responsive by saying that “in today’s world, it has to be more agile. The plan has to constantly adapt.” The plan should be able to constantly change and evolve.
Also, it is important to transform strategies into something that the company will understand. This is the best way to ensure that a strategy will be executed properly.
In connection to this, with CEOs ensuring that tasks are done, they should also be sure of their people. Anyone can be the right one, so it is important that CEOs of today have keen eyes for the people who can help them in the company.
“In the period of transformation, you should get the right people, the right local partner. Maybe the best talent is someone from outside the company, someone with a very different skills set that is important for the business who can create a blueprint for the company,” he noted.
Finally, as the CEO, one should act as a founder to set oneself as a role model to one’s people. Chief executives should build a legacy, have a succession plan to be ready of what might happen in the future. — Vincent Mariel P. Galang
