The role of a Chief Executive Officer in an organisation holds paramount importance. A CEO is the chieftain of a business whose leadership and power is the driving factor of the company. Many business owners around the world sitting in top organisations define their roles as challenging, stressful, and enriched.
An organisational employee embraces that position after undergoing extensive training, accumulating job experience, and pass successful assessments of robust business situations. A CEO is a primary player responsible for a company’s success. The job is remarkably glamorous and high paying, yet the underlying reality is sometimes indigestible.
Especially when it is a matter of long hours, pressure intensive board meetings, and financial, organisational, and personal goals to meet.
CEOs of globally recognised corporations carry a recipe for success.
Some of them have proven a remarkable display of character in tough situations. They have also qualitatively and quantitatively demonstrated their worth and business growth strategies. Let us learn more about the job role by shedding light on some key questions that every growth-seeking CEO should answer.
1. How do you define leadership?
A top CEO understands the importance of leadership and how much it matters in terms of organic business growth in the longer run.
2. What is the essential style of management?
There are different management styles, including paternalistic, autocratic, and democratic. The management style a CEO adopts has a lot to with organisational success.
3. Is “growing revenue and sinking profits” an ideal business situation?
Many business owners consider low profits and increasing revenue to be a typical business situation. But it is not acceptable in the long term if benefits continue to decline.
4. What will it take to increase the growth potential of your employees?
It is essential to understand to what extent a company’s commander in chief believes in human capital and investing in employees. Part of the reason why many corporations continue to achieve immense success is that the companies believe in deducing strategies and implementing them to increase the growth potential of employees.
5. How much emotional intelligence matters to you?
Emotional intelligence quotient (EIQ) remains a top characteristic when it comes to realising different needs of employees. Most successful CEOs have high EIQ levels, which means that they understand the emotional needs of people surrounding them as well as their own.
6. How far do you believe in extending a positive influence to the community than just making profits?
A business’s ultimate objective is to earn profit and give promising returns to shareholders. However, a company’ is also connected to the community and continuously garners an influence. Which is why successful organisations make it sure to employ practices that are stable for the community.
7. Do you accept your mistakes?
A leader must be willing to accept their mistakes humbly. Unless you are not aware of where you are lacking and what needs to be corrected, you cannot make amends and move forward to the constructive path.
The questions mentioned above are quite crucial for CEOs who are looking to seek growth in an organisation using their roles.
Shoaib Aslam is the co-founder of Pearl Chartered Accountants, a UK-based chartered accountancy firm that has multiple locations across London. They are experts in helping startups and established businesses with all aspects of growth, strategy, scaling up, accounting and tax planning.