CEO Mastery: What Distinguishes the Best CEOs from the Rest?
By Atip Muangsuwan
” What truly distinguishes the best CEOs from the rest is how well they’ve mastered the CEO’s mindsets and skillsets. “
Atip Muangsuwan
CEO Coach and Coach Supervisor
What sets great CEOs apart from the rest? To uncover this, three senior partners; i.e. Carolyn Dewar, Scott Kellar and Vikram Malhotra at McKinsey & Company embarked on an extensive research journey. They analyzed 20 years of data from 3,500 of the largest public and private companies worldwide. By examining tenure, performance results, and corporate conduct for 7,800 CEOs, they identified the top 200 performers and conducted in-depth interviews with 65 of them. The conclusion? The best CEOs think and act differently, embracing six distinct mindsets that drive their success.
6 Mindsets of the Best CEOs are as follows:
- Setting Bold Direction
Great CEOs are visionaries who embrace uncertainty and boldly set the direction for their companies. They understand that fortune favors the bold and actively shape their organization’s future through visionary strategies and resource allocation.
- Aligning the Organization
Exceptional CEOs know that people and culture are the hard stuff. They work tirelessly to align their organizations, ensuring everyone is moving in the same direction. By treating the soft stuff as hard, they create a cohesive and motivated workforce.
- Mobilizing Leadership
Transforming strategy into action requires effective leadership. Great CEOs focus on mobilizing their teams, solving for the team’s psychology, and ensuring that the team works together seamlessly. They understand that how the team works together is just as important as what the team does.
- Engaging the Board
The best CEOs proactively engage their boards, building trust and transparency. They help directors help the business by ensuring the board has the right skills and making it easy for directors to add value. This collaborative approach ensures effective governance and strategic alignment.
- Connecting with Stakeholders
Great CEOs connect deeply with all their stakeholders by starting with “Why?” They dig deep to understand the motivations, hopes, and fears of their stakeholders, building strong relationships that drive long-term success.
- Managing Personal Effectiveness
Effective CEOs excel at prioritizing and doing what only they can do. They focus on the most critical issues, delegate remaining tasks, and continuously enhance their effectiveness through learning and self-improvement. This self-mastery or self-leadership is a prerequisite for leading others effectively.
The Mix That Counts
CEOs who embrace these six mindsets take personal responsibility for making the right things happen. They keep all six plates spinning, even when market conditions dictate that some need to be spun faster or slower than others. It’s the mix of these mindsets that sets them apart and propels them ahead of their competition.
Key Takeaways
Great CEOs think differently. They assume responsibility for making the right things happen and act boldly to shape their own fate and that of their companies. By adopting these six mindsets, CEOs can navigate the complexities of their roles and drive organizational success.
For more insights, personalized strategies and actionable steps on achieving CEO mastery, let’s bring this topic into one of our coaching sessions!