A recent McKinsey and Company article, Mindset and Practices of Excellent CEOs talks about reframing what winning means and in addition to other areas, focuses on CEO Vision. “The CEO is the ultimate decision maker when it comes to setting a company’s vision.” One section of that vision study deals with “considering opportunities and trends in the marketplace”.
Marketing as we knew it, is changing. Even the biggest and brightest marketing organizations have expanded their offerings to include such areas as digital marketing and social media marketing and are educating their staffs on how to use them and how to evaluate them. There are a number of resources available to the CEO to ascertain potential market opportunities. Interacting with today’s modern marketing organizations can help the CEO toward an informed decision.
There are many articles and surveys focusing on the CEO and their vision for the future.
Let’s briefly look at those CEOs who are still holding on to traditional ways of thinking.
Many executives of multi-billion-dollar companies are doing just that. They fail to consider the resources necessary to assimilate change in order to make it a reality. The result of their short sightedness can be a short term, superficial program that disappears within months.
Another challenge is managers, CEOs and executives who have developed precise strategic visions in their own heads but have not communicated their visions to everyone else in the organization. As a result, employees may not be able to tell you where the enterprise is heading five weeks or five years from now.
Business leaders must introduce a dynamic, proactive corporate vision—and make sure that the internal teams buy into it and embrace it. In Vision: How Leaders Develop It, Share It and Sustain It, Joseph Quigley observes that leaders must write out their vision statements, preferably in brief form, so that they can easily communicate that vision to employees, stockholders, customers, and all others who have a stake in the company’s success.
Times are changing rapidly. And so, too, must a CEO’s vision for their company encompass 21st century thinking. Then they must make sure everyone in the organization is on the same page!!
Franklin Cooper © 2020