Ceo: Practices For Success

Abstract

Being a CEO is proven to be much more difficult than trying to become one. Over the last few months we have been examining the reasons behind the successes and failures of some great CEO practitioners. It seems that, despite the different managerial styles, great CEOs employ some common techniques. The following pages contain the golden rules of successful business leadership.

1. A master in accounting

Accounting has been described as the language of business and every successful CEO knows how important it is for successful business leadership. Strong knowledge in accounting will help every CEO to understand much quicker business problems and opportunities that arise from the analysis of financial documents. A good base in accounting will also allow the CEO to communicate more effectively with the finance staff about company investments. It is never late to master the knowledge in accounting and every CEO should make sure that he or she is up to date with the accounting rules and updates.

2. Use of positive reinforcement

Creating the right work environment is priority number one for every CEO. Employees at all levels must feel proud working at the company and the CEO should make sure that they have the chance to feel that they are adding value to the company's operations. The golden rule of 80/20 can be a very useful tool to make sure that the CEO provides positive reinforcements to his or hers employees. For every interaction with an employee, the CEO should try to say four good things about that particular employee's work and one slightly bad. In this way, the CEO uses the positive reinforcement technique to motivate the employee.

3. A strong senior level team

Business management is a lot of things but a one man show. Every CEO, in order to be successful, needs to recruit the best people for each top position. The senior level team needs not only to be consisted of the best people but also needs to promote the same company vision and work ethic as the CEO himself. And senior level recruitment is a task that no CEO should ever delegate to someone else like the human resources department. Each CEO, personally, must interview, screen and select the best candidates for any open senior level positions. The reason behind this tactic is that only the CEO understands the team dynamics of his senior team and therefore can select the best candidates that fit this environment.

4. Everyone should be treated like an adult

This goes back with the practice of creating a healthy work environment where every employee feels proud for working in the company. People like to be treated with respect. A CEO is usually viewed as the top person in the company that requires respect from everyone and does not owe respect to anyone. Some CEOs go even further and believe that showing respect is viewed as a sign of weakness. The successful CEOs knows, though, that only by respecting each one of your staff members you can motivate, lead and gain loyalty. And I mean treating with respect everyone, from the CFO to the secretary down at the logistics department. Respect includes honesty, empathy, and trustworthiness. A good CEO would never hide from an employee his or hers intention to fire him and would never forget a promise that he or she had made to a particular employee.

5. Hard evaluator and soft communicator

What some CEOs do not seem to understand is that business