So, you want to be a CEO . . . the Chief Executive Officer of a corporation–the final step to the pinnacle of business success. Just the thought of it motivated most executives in the twentieth century.
However, many have been saying “No thanks.” To a majority of qualified candidates, examples of troubled CEOs, such as Enron’s Kenneth Lay and Bernadine Healy of the American Red Cross, are not simply exceptions–they more closely resemble the rule, which sounds something like: “The expectations of today’s CEO are too unrealistic; the position represents too great a risk to my career.”
So what’s really going on? Has this unacceptable behavior always been there but just overlooked or ignored, or is something else at work? Could it be that CEOs today are less prepared for the role than in the past? When you boil it down, my research suggests fewer CEOs entering the job are prepared for it. If you are one who has the post or one who still wants it, you’re needed and will be in demand if you have the courage to stand for your convictions and allow pristine ethics to guide you. So, do you have what it takes to be an admired leader? And, what does that look like?
I believe the complex algorithm that includes talent, management skill and industry knowledge required to be a CEO can be summarized by three attributes that a leader must shoulder to be successful.
1. Clarity. Be crystal clear about what’s expected of you. If you’ll report to a group, then talk to everyone in that group. Ask questions such as “What’s my charter? What are the parameters requiring approval before implementing decisions? What are the expectations for the business, for the job and for me?”
2. Ethics. You, as CEO, are the gatekeeper. The organization’s behavior, right down to the receptionist and mailroom clerk, is the product of your leadership. What do you want that to be? Can you clearly establish what behavior is acceptable and what won’t be tolerated? And, can you convey that message to all levels of the corporation? It’s up to you to protect the organization from distractions that affect day-to-day behaviors and results. Keeping your people safe, insisting that they act ethically, and holding everyone accountable to the same standards is essential.
3. Ownership. The buck stops with you! Understand that nothing happens in the organization without your endorsement, whether you knew about it or not. There are very few outs on this one. Maybe embezzlement by the CFO might get you a pass, but even that begs the question, “What took you so long to find it?” It’s like having kids–regardless of what they do, ultimately the parents are responsible.
You’re the one who develops staff expectations. They must flow down to the lowest associate in the pecking order. Everyone must know what is expected, what they’ll do and how they’ll be evaluated.
Still want to be a CEO? Many CEOs don’t deserve the title, and it’s my prediction they’ll be asked to relinquish that role sooner than they intended. But, if you have the courage to shoulder the hard and soft demands of a CEO’s job, you’ve at least passed the first hurdle in attaining that goal. The rest may depend on results, timing and even politics, but in the end, it’s all about you.