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What makes a truly great leader? Discover practical, fail-safe tools that will help you hone your leadership skills, build respect among your workforce, and ensure the lasting success of your company.
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When Martin G. Moore was asked to save a major energy company from ever-increasing debt and a lack of executive accountability, he faced an uphill battle. Not only had he never assumed the role of CEO; Furthermore, he had no experience in the rapidly evolving energy sector. Relying on the practical leadership principles he had honed over his thirty-three-year career, he overhauled the company’s culture, redefined its leadership capabilities, and grew earnings at a compound annual growth rate of 125 percent.
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, Moore outlines these proven leadership principles clearly and directly. He sweeps away the mystical fog surrounding today’s leadership and outlines the essential steps for success. Moore combines this tangible advice with honest, real-life examples from his own career to provide a practical look at the skills a true leader possesses.
While the steps are not easy, they are guaranteed to elevate your leadership and organization to the next level if implemented.
It’s a simple, practical, proven guide, written by someone who’s been on the front lines and, most importantly, getting results. Martin has distilled success into 7 key imperatives to help you become a better leader, whether you lead one person or millions.”
“This doesn’t feel like ‘just another leadership book’ at all. I love the frankness of Martin’s style and the compelling stories that bring his practical advice to life. He breaks down complex human systems into digestible chunks, with humor and humanity.”
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“Martin’s approach to leadership is exactly what it says: no frills or padding – just practical techniques to immediately improve the way you lead.”By Book Summaries, Business & Management, Business Strategy & Culture, Leadership & Communications, Management , Productivity and teamwork
Home > Book Summaries > Book Summary – CEO Excellence: The Six Mindsets That Separate the Best Leaders from the Rest
What exactly do CEOs do? And what do the best CEOs do that is different from others? Drawing on 20 years of research data, Carolyn Dewar, Scott Keller, and Vikram Malhotra answer these questions in this book. In this
In summary, you will learn the top 6 responsibilities, mindsets, and associated practices that distinguish the best CEOs from the rest. The insights are useful not only for CEOs, but also for leaders at all levels and of all types of organizations.
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The CEO plays a vital role in any company, accounting for approximately 45% of the company’s results. However, CEO failure rates are high. Data from the Center of Creative Leadership reveals that over the past two decades, 30% of Fortune 500 CEOs have remained in their positions for less than 3 years and 40% of new CEOs have failed within the first 18 months.
Indeed, the job of a CEO is both lonely and demanding. CEOs are responsible for everything, and the responsibilities fall squarely on their shoulders. They have no superiors to guide them and no manual on what to do.
Work is becoming even more difficult due to rapid digital transformation, a greater emphasis on sustainability and purpose, increased public scrutiny and growing concerns about employee well-being and diversity.
To answer this question, 3 senior partners at McKinsey & Co, Carolyn Dewar, Scott Keller and Vikram Malhotra, conducted an extensive research study.
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They analyzed 20 years of data on thousands of CEOs across various countries, industries and company types. From there, they identified the 200 best-performing CEOs of the 21st century based on performance, tenure, value creation and business conduct. In-depth interviews followed with 67 prominent CEOs, including Alphabet’s Sundar Pichai, Microsoft’s Satya Nadella, Shiseido’s Masahiko Uotani, and General Motors’ Mary Barra, and more.
They found that exceptional CEOs have a distinct way of thinking that creates strategic advantages for their companies. In particular:
• They focused on 6 key responsibilities: charting the company’s path, bringing people together around shared goals, turning strategy into action, engaging the board effectively, building strong relationships with stakeholders and improving their personal effectiveness .
• For each of these responsibilities, they demonstrate a specific mindset that manifests itself through a series of practices.
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In this free summary, we will outline all 6 responsibilities and mindsets and elaborate on the first responsibility/mindset in detail. You can get the details for all 6 responsibilities and mindsets on our full 19 page page
Great CEOs don’t play it safe and try to avoid mistakes. They embrace uncertainty and actively shape the destiny of their companies, being bold in vision, strategy and resource allocation.
That redefine what it means to win. For example, Netflix founder and CEO Reed Hastings did not limit Netflix’s aspiration to become America’s leading DVD company. He envisioned it as a “global entertainment distribution company that provides a one-stop channel for film producers and studios.” This vision has driven Netflix to make bold investments in streaming and cloud technologies.
• Identify and amplify the company’s pain point, which usually lies at the intersection of critical factors. For example, Best Buy’s niche is where 4 things overlap: what the world needs, what they’re good at, what they’re passionate about, and how they can make money. They imagined “enriching life by meeting basic human needs.” This has led them to (i) improve interactive in-store experiences to showcase different brands and (ii) offer competitive online prices to match those of e-commerce giants.
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• Focus on meaningful goals beyond making money. They believe that by realizing their vision, profits will naturally follow. Under the leadership of Herbert Hainer, Adidas sought to “help athletes perform better than the competition.” This led them to invest heavily in product development to improve its performance.
• Reinvent past success factors. They think back to the company’s key success factors in the past and reimagine them for the current/future landscape. Under Brad Smith’s leadership, Intuit continued to solve customer problems but moved to modern solutions leveraging cloud computing.
• Co-create the vision with diverse leaders from all parts/levels of the company, to create ownership across the organization. When Piyush Gupta took over the leadership of the DBS Group in 2009, no one in the team could imagine that DBS was the best bank in Asia. Therefore, he gradually developed his vision: moving to “Asian Bank of Choice” and laying a solid foundation before moving on to the bold vision of “Making Banking Joyful”.
Once a transformative vision is in place, leading CEOs focus on making the vision a reality. They do this by taking bold steps early and often enough to build momentum.
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Summary of the 5 crucial moves made by the best CEOs, along with the practices they use to mitigate the risks resulting from such bold moves.
Great CEOs can look beyond inherited decisions and internal policies/bias to allocate resources objectively and in line with the company’s vision and strategy. In the 1980s, Intel’s memory chip market was collapsing. Its president Andy Grove and CEO Gordon Moore asked: If they were both replaced, what would the new CEO do? This pushed them to move into microprocessors – a bold move that laid the foundation for Intel’s success for decades.
In our comprehensive summary package, we cover the practices the best CEOs use to think like an outsider. In the meantime, here’s a quick summary of the first mindset and practices:
Research shows that approximately 72% of organizational success depends on “soft” aspects such as people and cultural issues. These are more difficult to manage than “hard” technical issues such as liquidity or profitability. To bring people together around shared goals for successful execution, the best CEOs prioritize 3 “soft” areas: culture, organizational design, and talent. In our book’s full summary, we’ll delve into key practices on how the best CEOs:
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Leading CEOs cultivate high-performance teams by focusing on group dynamics and human psychology in 3 areas: team composition, teamwork, and operational tempo. Fully 19 pages
The Board of Directors is the sole boss of the CEO: it should manage the CEO, while the CEO manages the company. Most boards of directors provide oversight without adding value to the company. The best CEOs see the board as partners and advisors, not as policemen. They engage advice and provide it in 3 areas: relationships, capabilities and meetings, so they can contribute their wisdom and resources. Check out our full summary for insights into how the best CEOs:
• Help the board develop their capabilities and function optimally, so they can better contribute their wisdom and resources; AND
Stakeholder relationships represent up to 30% of a company’s profits. Great CEOs start with the “why” to understand the aspirations, concerns and motivations of stakeholders. They strengthen bonds through social purpose, stakeholder engagement and moments of truth. More details in our comprehensive
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Exceptional CEOs excel at managing their time. They focus on tasks that only they can do and delegate the rest. They closely manage 3 areas for personal effectiveness: time and energy, leadership, and perspective. Find out how the best CEOs:
All top CEOs juggled the 6 responsibilities listed above, but did not excel in every area. What set them apart was their ability to do so
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