There are many challenges for businesses especially in these economical times with rapid technological changes and fast moving global economy. How often does a CEO and their executive team keep up with the many moving parts? Question should be asked as to how many CEOs and key executives are taking time out of their busy schedules to slow down, look at the business holistically and work on the business rather than in the business? This question should be entertained often. Some of the key questions which should be challenged are:
Are we clear about what problem we are solving? Is this well communicated internally and externally to all stakeholders.
How are we creating value in the marketplace?
Can we articulate our capabilities?
What are we doing differently than our competitors?
How are we articulating this to all our stakeholders?
Does our organisation structure and processes support our capabilities.
What are our competitors doing which are we not?
How can we create more value for our existing and future clients?
With keeping the eye on the horizon and working towards effective execution of strategy, the CEO has to ensure these questions are asked keeping in mind how it is adding value to its current and potential clients. CEO’s need to reflect on the key risk factors and mega trends. How the mega trends will impact the business in next two to five years? How this will influence the corporate strategy? It is a collective responsibility for the CEO and executives to ensure the strategy execution is aligning and is effectively communicated throughout the organisation. It is necessary for the CEO to deliver the results to the shareholders while ensuring the longevity of the business.
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