Renee Prejean-Motanky


In Business Development, Business Strategies on July 31, 2009 at 1:32 am
He wears many hats
Image by KaroliK via Flickr

Typically, the CEO wears many hats: communicator, coach, problem solver. And while there may be others who can also fill those roles, there’s one critical job only a CEO can do and that’s link the outside world (society, economy, technology, customers) with the inside world (your company).

How do you do that?

Focus on four tasks:

1. Define “outside”: It’s important to identify and define which external constituency matters most. For most businesses, that’s the customer! While for non-profits, there can be more than one constituency (customers/clients, donors, political influencers…) To do this, you must understand your constituents.
2. Decide what business you’re in: For example, what are your core businesses, and which of them will you grow?
3. Balance present and future: Ensure that stakeholders’ near-term interests don’t overshadow your company’s long-term future (pay attention to current trend, but don’t let it overshadow development for the future by not balancing short-term investments with resources needed for your company’s long-term goals.
4. Shape values and standards: Define values and standards in terms that are meaningful by defining your company’s values (its identity) and standards (expectations) in ways that encourage the right behaviors. For example; Proctor and Gamble defines trust as consumers’ trust in its brands.

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