CEOs Need to Adapt and Grow

I was struck by a recent announcement by the CEO of a highly successful retail business who decided to step down after a decades-long run. Sales have leveled off and the company was showing signs of what I call “organizational fatigue.”  his CEO was forthcoming in sharing his reasons for leaving: the job now requires a different set of skills and capabilities, ones he believes he does not possess. So, in effect he fired himself.

The constantly changing nature of business can be especially daunting for CEOs of privately held companies. As the enterprise grows, the leader must build an effective, competent and trusted leadership team. This team, in turn, is tasked with building a strong group of managers and supervisors. Decentralizing decision making becomes a needed discipline. For entrepreneurial leaders, this can reveal “moments of truth” where they must fight their instinct to jump in and solve every problem and make every decision.

There is a delicate balance between letting employees lead while maintaining a responsible level of authority. After all, the CEO is also the owner, and the stakes are especially (sometimes excruciatingly) high.

In the classic business book “Flight of the Buffalo,” authors James A. Belasco and Ralph C. Stayer highlight the difficult but ultimately successful transformation of the entrepreneurial owner of a food manufacturing company. As the company grew, strains became obvious, revealing the need for a different kind of executive leadership. Instead of “firing himself” this CEO came face to face with his newly discovered shortcomings and successfully transformed his leadership style to accommodate his “new company”; a larger, more complex enterprise with capable leaders in place.

This is no mean feat. It starts with a high level of self-awareness and the willingness to accept open, honest feedback. And getting help, well, helps!

Advisory Boards, CEO peer groups, and executive advisors are invaluable for CEOs focused on growth and adaptation in a dynamic environment. Assessment tools like Harrison and Lifestyles Inventory (LSI) can provide useful insights and help build a foundation for learning and growth.

There is no static state. You are either moving forward or you are falling behind. This is true of organizations and it’s true of CEOs responsible for leading them.

For more information on transforming your style of leadership, contact me at joe@ajstrategy.com

The preceding content was provided by a contributor unaffiliated with Printing Impressions. The views expressed within may not directly reflect the thoughts or opinions of the staff of Printing Impressions.