Research & Insights

Leadership Competencies

Are you investing in your own leadership?

In order to remain competitive and stay on top of marketplace changes, CEOs and key executives need to commit to investing in their own leadership development.

Vistage recently conducted research showing that CEOs from small and midsize businesses (SMBs) are focused on decisions and investments related to business optimization. To fully capitalize on these investments, a CEO also needs to make leadership development a priority.

In the Q4 2017 Vistage CEO Confidence Index survey, which captured data from 1,377 SMB CEOs, leadership development was ranked only fifth in planned investments for 2018. That brings it in behind investments in talent, infrastructure, technology and customer growth.

If, like our survey participants, you are a CEO who might prioritize business optimization efforts over your own leadership development, here are the top five questions you need to consider:

1. Are you developing your skills across a broad range of functional areas?

CEOs are at the center of business decisions that cross multiple functions — from IT and finance to marketing and sales to operations and management. Staying at the forefront of each of these disciplines is an enormous task, which is why leaders must constantly find small ways to broaden their capabilities in diverse areas.

Consider training opportunities that give you access to the latest insights about issues such as building a strong culture, making strategic investments, executing on a strategy and communicating effectively with teams.

2. Do you meet the criteria of a “good leader” or a “great leader?”

Good leaders tend to focus on others before themselves. Great leaders recognize they must continue to work on their own development while also developing the capabilities of their teams. This creates alignment and focus among departments and instills a culture of excellence across the entire organization.

3. Can you effectively execute your strategic vision?

Leadership is the art of execution. It is the art of getting things done. In other words, leadership isn’t just about setting a direction or vision for a business. It’s about executing on that vision. Execution is how a leader translates a vision into a method for managing talent, connecting with customers, optimizing operations and managing the financials that calibrate the business.

4. What are your priority areas as a leader?

High-performing CEOs tend to focus on five areas in particular:

  • Strategic planning
  • Organizational culture and values
  • Communication and alignment
  • Mission, vision and purpose
  • Innovation

If this list doesn’t align with your own priorities, ask what you are substituting for these areas. You might need to make some adjustments.

5. Do you have the competencies to identify and address pressing workplace issues?

Today’s CEOs need to be equipped to manage a variety of difficult issues such as sexual misconduct in the workplace, diversity and inclusion practices and sustainability policies. Very few leaders can do this effectively without the right leadership development.

Focus on developing skills that will improve, for example, how you evaluate workplace policies for social events, reduce your environmental footprint, recruit a more diverse workforce or establish a culture of transparency. This will make your organization stronger, and it will make you a better CEO.

This article originally appeared in Inc. Magazine

Category: Leadership Competencies

Tags:

Joe Galvin About the Author: Joe Galvin

Joe Galvin is the Chief Research Officer for Vistage Worldwide. Vistage members receive the most credible, data-driven and actionable thought leadership on the strategic issues facing CEOs. Through collaboration with the Vistage community of…

Learn More

Leave a Reply

Your email address will not be published. Required fields are marked *

Gain deeper insights when you join Vistage

Take advantage of peer advisory group advice, 1-to-1 executive coaching, industry networks, exclusive events and more.

Learn more

Privacy Policy Settings

  • Required Cookies
  • Performance Cookies
  • Functional Cookies
  • Advertising Cookies
Required Cookies These cookies are essential in order to enable you to move around the Sites and use its features, such as accessing secure areas of the Sites and using Vistage’s Services. Since these cookies are essential to operate Vistage’s Sites and Services, there is no option to opt out of these cookies.
Performance Cookies These cookies collect information about how visitors our Sites, for instance which pages visitors go to most often. These cookies don’t collect information that identifies a visitor. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.

Cookies used

Visual Web Optimizer
Functional Cookies These cookies remember information you have entered or choices you make (e.g. as your username, language, or your region), and provide enhanced, more personal features. They may also be used to provide services you have asked for such as watching a video or commenting on a blog. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.

Cookies used

Google Analytics
GTM
Gravity Forms
Advertising Cookies These cookies are used to make advertising more relevant to you and your interests. The cookies are usually placed by third party advertising networks. They remember the websites you visit and that information is shared with other parties such as advertisers. If you do not allow these cookies, you will experience less targeted advertising.