Distinct positions necessitate their own unique additions to the core Leader's Checklist. The customized principles for top executives are different from those for front line managers. They, in turn, are different for company directors.
In interviewing more than a hundred company executives and institutional investors--part of a study of how the two work together or are sometimes at odds with each other--I found a special demand for chief executives to build personal familiarity with their largest investors, articulate a compelling vision for where the company was going and a persuasive strategy for getting there, and generate steady quarterly and annual growth in company earnings. In a separate study of company directors, a professional colleague and I learned that many directors place a premium on partnering with--not just monitoring--management, establishing clear lines between decisions retained by the board and those delegated to management, and taking a active role in setting company strategy.
In sum, a customized Leader's Checklist for executives would include building relations with investors, making a persuasive case for how the company will create additional shareholder value, and then delivering steady and predictable growth in quarterly and annual earnings. The customized Leader's Checklist for company directors, by contrast, might include an ability to both partner with and monitor company executives, guide company strategy, and create a bright line between delegated decisions and retained authority.
ACTION POINT: Build key relationships and a persuasive case for creating value internally and externally.
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