| "Oh yeah, I definitely feel out of my
| |
| | by?A. Quiz board members on their
|
| depth at times. But I think that if you
| |
| | knowledge of the charter and answers will
|
| don't occasionally feel out of your depth
| |
| | provide your first clue.Q. Do board
|
| you're either not growing anymore, or
| |
| | members seem "tenured" or do board
|
| you're kidding yourself, or you're not
| |
| | members change according to the skill mix
|
| pushing the organization hard enough."
| |
| | needs of the organization's
|
| Comment in Unlimited from Grainne Troute
| |
| | life-cycle?A. Very easy to see how long
|
| - CEO McDonalds. Grainne has an HR
| |
| | each board member has continuously served
|
| background.Potential CEO's come from a
| |
| | and whether board members have to retire
|
| much wider range of business disciplines
| |
| | by rotation and offer themselves for
|
| than even five years ago and perhaps CEO
| |
| | re-election, and whether after say two
|
| applicants can benefit from my
| |
| | terms they have to stand down for one
|
| real-world, in-the-trenches questions and
| |
| | complete term.Q. Does the Board go
|
| experiences on both sides of the CEO
| |
| | through a formal evaluation process?
|
| fence. If you have had a career largely
| |
| | Whole Board?
|
| in one discipline to this point then
| |
| | Chairman?
|
| these questions will enable you to think
| |
| | Individual Board members?A. If not, why
|
| of the CEO role in broader
| |
| | not? Perhaps it has never occurred to
|
| terms.Questions, many of which are in the
| |
| | them, perhaps the Board is too new or
|
| considered "soft" areas, have potential
| |
| | perhaps it is considered too threatening
|
| answers that will help you make a
| |
| | by individual Board members.Q. What are
|
| balanced decision as to whether your
| |
| | the sacred cows?A. I am pleased to report
|
| potential career move will be a good fit,
| |
| | that in most cases there are none.
|
| and if so, increase your chances for
| |
| | However, understand whether there are any
|
| success in the role.
| |
| | sacred business processes, unprofitable
|
| The alternative?I describe it as the
| |
| | low-profit customers you are "requested"
|
| "eighteen-month club." You are hired,
| |
| | to retain, or any untouchable
|
| the board has great expectations on sales
| |
| | personnel.Q. Why did they consider
|
| and profit growth..... you make the right
| |
| | making the job offer to you?A. Job
|
| noises, six months go by, twelve months
| |
| | descriptions are broad and so what
|
| and the board starts questioning "Where
| |
| | specifically out of your background is it
|
| are the results?" and by eighteen months
| |
| | that they think you will do?Were they
|
| you are in the departure lounge along
| |
| | looking for a celebrity CEO, someone who
|
| with 15-20% of the CEO's from the Fortune
| |
| | will build a leadership team, a consensus
|
| 1,000. You have joined the
| |
| | builder or someone who will drive change?
|
| eighteen-month club!So it is time to
| |
| | Roles are broadly characterised as
|
| start probing:Q What stage in the
| |
| | growth navigators; execution maestros;
|
| business life-cycle is the organization
| |
| | turnaround surgeons or business model
|
| in?Initial high-growth; maturity; decline
| |
| | transformers.Do you think they will want
|
| or the start of the 2nd growth cycle? Is
| |
| | you over the longer term, or will they
|
| there widespread recognition and
| |
| | transition to someone else once their
|
| acceptance by individual board members of
| |
| | initial goal with you is met?Q. Have they
|
| the life-cycle stage?Q. Does the
| |
| | structured your proposed compensation
|
| company strategy have a long-term
| |
| | package for growth or stability? Do they
|
| sustainable competitive advantage? How
| |
| | want you for the long term?A. An easy way
|
| do you know?A. Instead of just relying on
| |
| | to determine the answer to the first
|
| information provided, have you completed
| |
| | question is to look at what percentage of
|
| a S.W.O.T? Talked to customers and
| |
| | the package is at risk? Twenty to thirty
|
| ex-customers? Talked to competitors?
| |
| | percent probably means that they are
|
| Searched the internet? Found industry
| |
| | looking for high growth. That said; make
|
| trend information? Looked at benchmarked
| |
| | sure you can control all KPI's. For
|
| data?Q. Has the business model passed its
| |
| | example if there is a percentage related
|
| "use-by" date?Aggregators, e-commerce,
| |
| | to EBITDA growth and you are in a service
|
| new competitors or technology may all
| |
| | business will they let you change
|
| have had a major negative impact on the
| |
| | staffing ratios to improve
|
| business. Does the board truly recognise
| |
| | profitability?A balanced approach is to
|
| it or are they still in denial and in the
| |
| | weight a portion for sales and customer
|
| mode of trying to make a silk purse out
| |
| | growth, net profit improvement, plus a
|
| of a sow's ear?Have they considered a
| |
| | percentage for business reinvestment. BP
|
| Greenfields approach to the development
| |
| | is the best example of this balanced
|
| of a business plan?"If I were starting
| |
| | approach to senior executive
|
| the business today would we do business
| |
| | compensationQ. Is there a stock option
|
| the same way?"If not, then the board
| |
| | component?A. How will it be triggered?
|
| should have directed the development of a
| |
| | After KPI's are achieved, after a set
|
| business plan recognising: industry
| |
| | time period, or at the discretion of the
|
| trends, new technology, competitors,
| |
| | board? Are they just holding out a
|
| factors impacting on the business model,
| |
| | "future promise" or is it a genuine
|
| geographic factors related to sales and
| |
| | offer? What is their track record in
|
| support and traditional and
| |
| | this area?Q. Finally, what is the board
|
| non-traditional competitors. e.g., in
| |
| | attitude to people? Do they have a view
|
| the check printing business considering
| |
| | that "people are our most important
|
| the impact of credit and smart
| |
| | asset" or do they view staff as a "cost
|
| cards.Q. Has the board gone through the
| |
| | of business" or some point in between.
|
| cost-cutting phase, or are they locked
| |
| | Do they believe in investing in
|
| into ongoing cost-cutting?A. No-one ever
| |
| | people?A. Unless you have the ability to
|
| downsized to greatness. During the
| |
| | hire, motivate and retain the strongest
|
| process of downsizing trust and morale
| |
| | team then the business is likely to
|
| typically are destroyed. Unless the
| |
| | remain a "me too" company with higher
|
| board is focussed on re-growth strategies
| |
| | than average staff turnover usually
|
| and not further cost-cutting, then I
| |
| | accompanied by low customer
|
| would suggest that your tenure will be
| |
| | satisfaction.This implies the right
|
| short-lived as you will not be
| |
| | culture, values and at least being in the
|
| demonstrating additional profit from new
| |
| | top one third in compensation bands for
|
| business acquisition.Q. Is the board
| |
| | your industry.The first 103-daysThis is
|
| focussed on the short or long-term?While
| |
| | the most critical time following your
|
| the board may talk about being "in it for
| |
| | appointment and certainly sets the future
|
| the long-haul" look at what shareholders
| |
| | culture under your regime. Clearly
|
| and board members have done in other
| |
| | before you start your new role, and with
|
| situations. Are they long-term players
| |
| | your now good knowledge of the company
|
| or typically just looking for a quick
| |
| | time should be spent on your Action Plan
|
| return?Q. Will there be a business
| |
| | for the first 90 days at least.This plan
|
| reinvestment strategy or is there a
| |
| | will include further fact-finding,
|
| single-minded focus on shareholder
| |
| | meeting personnel, understanding
|
| returns right now?A. To this point there
| |
| | production and distribution processes or
|
| may not have been calls to reinvest in
| |
| | service offerings, meeting both current
|
| the business. A leading question to ask
| |
| | and former customers or clients and
|
| then is: "What has been their track
| |
| | suppliers. Good information on which to
|
| record either in this or other business
| |
| | base your plan.However, do not
|
| interests?"Q. Is it a public or private
| |
| | underestimate the need to create a
|
| company?If private, who are the key
| |
| | support network and build a coalition
|
| shareholders? It is important to meet
| |
| | around your strategy and implementation
|
| one-on-one with each of them to consider
| |
| | plans. No single person can successfully
|
| such things as:
| |
| | grow a business. Identify and groom your
|
| - is there a dominant personality?
| |
| | motivated torch-carriers.Conclusion:Your
|
| - will they let the chair do their job?
| |
| | success as a CEO is not totally dependant
|
| - has the board been "stacked" or are
| |
| | on positive answers to these questions.In
|
| there the right disciplines to
| |
| | addition to being experienced,
|
| take the company forward?
| |
| | well-educated and intelligent and
|
| - will directors do what is right for
| |
| | articulate you must have the ability to
|
| the company, or dosome board members
| |
| | inspire others.This involves a highly
|
| pursue personal agendas?
| |
| | developed social quotient to move quickly
|
| - will primary shareholders continually
| |
| | and successfully in a complex,
|
| second-guess theCEO by calling in
| |
| | multi-layered and fast-paced environment.
|
| regularly at offices or taking staff
| |
| | So it is now time to hone your skills of
|
| tosocial events etc?
| |
| | empathy, integrity, stamina and
|
| - Is the owner or dominant shareholder
| |
| | flexibility in a variety of business and
|
| an entrepreneur?Typically they are
| |
| | social situations.After all, you must
|
| short-term players, not interested somuch
| |
| | become the passionate torch-carrier for
|
| in planning and have a "Do it - fix it"
| |
| | your new organization.Denis Orme Founder
|
| mindset.Q. Does the board truly
| |
| | Performance Leader of the Leadership
|
| understand their role?A. My experience
| |
| | Success Institute, he has been heavily
|
| with private corporations in particular
| |
| | recruited by start-up businesses through
|
| is that the board does not stick to
| |
| | to Fortune 500 companies to analyze
|
| strategy design, and then evaluate the
| |
| | operations, develop and implement change
|
| CEO on his or her execution of that
| |
| | management and repositioning strategies,
|
| strategy. Too much time is spent
| |
| | and return organizations to sustainable
|
| debating operations. This discussion
| |
| | profitable long-term growth.Cited in
|
| does little to ensure the long-term
| |
| | Who's Who in Emerging Leaders, Who's Who
|
| profitable operation and market
| |
| | in Sales and Marketing and Who's Who in
|
| superiority of the business. Again,
| |
| | Industry and Commerce.
|
| using my experience this is not such a
| |
| | He has received leadership awards from
|
| factor in public corporations.Q.
| |
| | the American Lung Association, Business
|
| Governance charter.... Is it just a
| |
| | Volunteers for the Arts and the Greater
|
| wall-hanging, or a code they live
| |
| | Houston Partnership.
|
