Imagine that you are now the CEO of your organziation. Further imagine that it is underperforming. Worse yet, your organization has low employee morale, high labor turnover, declining market share, falling profits, competitors that are under-pricing you and constant criticism from your board of directors, investors and investment analysts. Sound like a fun job? What are you going to do? You start building. How different would this challenge be than accepting a head coaching position for a college sports team that has been winless for the last four years? You begin looking for the athletes who want to win. But that is not enough. You need to grow talent and lead them to work with each other. Being a CEO is not much different.
Where do you begin? There is no roadmap, no step sequence and many things need to get fixed. When you are alone you need to consider the right vision and mission for the organization from which to formulate your strategy. That is your primary job to set direction. Everyone will want to know your answer to the question, Where do we want to go? You dont have to decide on your own. That is what your executive team is there for to bounce your ideas off. They may not all want to get on the bus with you. Choose quickly who should stay with you and who should not. It is not going to be an easy journey. You have many secondary jobs besides direction setting and strategy formulation. And, there is little time to delay. Of course, there are dozens of best-selling books on leadership; perhaps one will provide you a winning formula. If it were my decision, I would create a culture for metrics. You cannot manage what you cannot measure. I suggest you also create a culture of manager and employee involvement. My favorite methodology for this is constructing a strategy map and quickly delegating to your managers the task of identifying a few manageable projects, as well as the core processes, to implement and improve. Also, ask them to propose the key performance indicators that can be monitored to assess the progress of achieving the strategic objectives in your strategy map. The KPIs will monitor those same projects and core processes. The benefit of this approach is that your managers and employees will have ownership of the actions and more easily accept accountability for their responsibilities.
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