What is the proper role of a CEO or founder?
In my experience, s/he needs to take responsibility for just four things; these are:
-recruiting talent & holding them accountable
-vision, innovation, differentiation, business model & culture of the organization
Everything else is up to the COO, chief operating officer, and other executives.
These are the roles that a CEO/founder can NEVER give up. If s/he decides to delegate them, that’s ALWAYS a mistake in my view; so, it’s time for them to retire or be replaced.
Sorry folks, being a CEO/founder is a life sentence.
Read this except (see below) from a May 14, 2018 Bloomberg Businessweek article on Kalyan Krishnammurthy, the 46-year old who took on the role of turning around Flipkart in 2017. By a) firing senior managers, b) setting more ambitious sales goals, and c) boosting marketing, Flipkart came to dominate India’s festival-based shopping season in just one year and it attracted a $16 billion investment by Walmart Inc on May 9th.
What’s a good CEO worth?
Quite a bit if s/he’s the right one.
Bruce M Firestone, B Eng (civil), M Eng-Sci, PhD
ROYAL LePAGE Performance Realty broker
Ottawa Senators founder
Real Estate Investment and Business coach
MAKING IMPOSSIBLE POSSIBLE
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