The criticism and scepticism associated with CEOs is largely a fall out of the scandals that the business world has witnessed in the recent past. The tarnished image of CEOs has doubled the challenges that come with the high profile.
CEOs are expected not only to lead the company but also provide strategies and vision statements. Industry stalwarts have identified five critical challenges that leaders of today’s corporate world need to meet.
CEOs are currently functioning in an environment devoid of trust and tolerance. Therefore, they need to have a long-term perspective. Further, financial transparency should become an integral part of the corporate culture.
Identifying and developing potential leaders
Though the job of a CEO might not look attractive in the current scenario, preparing the next generation to take up the job should definitely be the top priority.
Moving towards a bright future
It is indeed difficult for leaders to manage a downturn and plan a strategy for growth. However, the burden can be lessened if the company has a strong and compassionate corporate culture.
Changing for the good
Organisations need to concentrate more on identifying, appointing, and retaining board members who would make a difference.
The sustainability factor
Corporations should get more realistic and develop a foresight. Promises should be realistic and deliver value not only to shareholders but also to all organisational quarters including employees, customers and stakeholders.
These strategies may not be the options for a CEO caught in the economic storm, nevertheless they definitely provide practical and implemental guidelines to face the storm.
Authentic Leadership is what is required from A CEO, the details are given below:
In today's uncertain business environment, lip service leadership means closing shop. "Authentic leadership" is what business demands and employees rely upon. Organisations have realised that ruthless leaders can be bad for productivity, growth and overall well-being. They tend to prefer leaders with clay feet, rather than demi-gods. They want authentic leaders, with self-knowledge, a reservoir of emotional security, and the ability to treat the company like a cohesive community, not a personal platform.
What then are the characteristics of an "authentic leader"?
Authentic leaders do not have all the answers and are aware of this fact. They do not look for scapegoats, when efforts fail. Instead they use failure as an opportunity to change.
--> Down to earth:
The more successful and powerful people become, the harder it is to remain authentic. They play a role that corporate culture wants them to play. Reliance on their individual strength decreases while that on their job titles increases. They forget their feelings and lose the ability to see themselves and their responsibilities accurately. Authentic leaders do not identify themselves with their position at work. They are who they are as a person.
Authentic leaders are emotionally connected to their colleagues and employees. According to Daniel Goleman, it is emotion, more than intellect that drives our thinking, decision-making and interaction with others. Leaders become memorable, if they communicate emotionally. They know how to make their colleagues comfortable and develop bonds of trust.
-->Unique, but not perfect:
Authentic leaders accept their limitations. They are receptive to others ideas and opinions and integrate them well into their vision. True leaders understand that a single vision will never be complete.
Authentic leaders constantly try to figure out the heart of their ambition. They keep asking two questions:
# Why do I pursue the work and the life that I do?
# What do I act like during the most fulfilling times in my life?
This uncovers their behaviours and provides them an insight into the person they are. The answers to these questions unmask the fears, vulnerabilities and sensitivity within the person. This unmasked ingredient is the essence of an authentic leader.
Hope it will be of help.