Looking to improve your managerial skills? Three traits of an 'exceptional' CEO
We have all heard of leaders in organisations who inspire others, but just what, if anything, do these leaders have in common? And can the traits of an "exceptional" chief executive be replicated.
According to consulting firm McKinsey, "exceptional" chief executives have three things in common.
In their ten year research on the experiences of exceptional CEOs, that is those defined as top performers in their data of approximately 600 chief executives at S&P 500 companies, McKinsey noted the following three common traits.
One – outsider benefits
The top chief executives from the research were more than twice has likely to have been hired from outside the company.
However, the research did note that internal hires can still move aggressively and achieve exceptional results.
Two – acting strategically
Chief executives with exceptional track records are more likely to engage in a strategic review of the company early on in their tenure the research found…so get planning!
Three – it’s all about balance
From their sample of exceptional chief executives, McKinsey found that they were less likely than the average executives to undertake a redesign of the organisation or management-team reshuffles during their first two years in office.
This may be because they have other priorities during that period, "there are only so many initiatives and changes that organizations and people can absorb in a short space of time," McKinsey said.
The study looked at companies, and chief executives, who had delivered a return of more than 500pc to shareholders during the tenure of the chief executives.