The Khorus Blog

CEO Best Practices #11: Tying Strategy to Execution

Joel Trammell

Posted by Joel Trammell
December 18, 2014

As CEO, you own the strategy. But don’t forget to build that strategy into an executable plan—the eleventh of my fifteen CEO best practices.  

 

Do you know where your company should be in five years? Probably, or at least you have a general idea. The next step is figuring out how to break down that long-term strategy into what your employees should focus on today.

This is one of the biggest challenges CEOs face. As leading venture capitalist Arthur Rock said in Harvard Business Review back in 1987, “strategy is easy, execution is hard.” It’s just as true today as it was back then. And if you set a high-level strategy but don’t create the roadmap for how to get there, it will be extremely difficult get started in the right direction, much less actually arrive at your desired destination.

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2 Ways CEOs Get Big Data Wrong

Joel Trammell

Posted by Joel Trammell
December 15, 2014

Does bigger data give you better insight? Not always.

big_data_stock_image

“Big data” is hot. Of course, as usual with buzzwords, most of the people using it don’t really know what it means. (Forbes.com offers a good, brief overview here.)

Regardless of the hype all over tech blogs and other media, it’s obvious that the amount of business data being collected and analyzed is growing constantly, with no end in sight. The challenge for a CEO is how to leverage this data to gain insight and make better decisions—one of the five CEO responsibilities I outline in The CEO Tightrope.

As you go about that task, don't fall into these two common data traps.
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The Role of the CEO: 4 Reasons to Meet with New People

Joel Trammell

Posted by Joel Trammell
December 11, 2014

Too busy to meet with a stranger who asked for a bit of your time? Think again.

As a CEO, you get many meeting requests from people you don’t know. Maybe it’s someone looking for a job, or a person someone in your network recommended you meet with. Maybe it’s a new or aspiring executive who wants your advice on the role of the CEO. Maybe it’s someone looking for money.

As busy as we are, it’s tempting to turn requests like these down, but I’ve made it a practice throughout my career to see almost every individual who asks to meet with me.

Why would I do that? Don’t I have better things to do?

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The Job of the CEO: Why Every CEO Needs Backseat Drivers

Joel Trammell

Posted by Joel Trammell
December 8, 2014

The job of the CEO is challenging, especially when it comes to receiving feedback.  No one likes a backseat driver but as CEO you will find that lots of people have an opinion on how you are driving the ship. The vast majority of the people that comment will not have had CEO experience; this category includes many board directors. Does that mean you should ignore the comments? Do you have to have been a CEO to identify issues within an organization?

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Creating the High-Performance Board: What is the Role of the Board?

Ralph Hasson

Posted by Ralph Hasson
December 3, 2014

iStock_000011725431SmallThe role of the board—what does oversight mean?

Creating a high-performance board starts with understanding the board’s role—what it is, and what it is not. 

The board’s role is oversight; the board’s role is not management. The board provides oversight to the CEO and to the executive management team in running the company, for the benefit of the shareholders.  It is not the board’s role to conduct the daily affairs of the organization—that is management’s job.  The best summary I’ve heard: “Strategically engaged, but operationally distant,” as Matt Blumberg puts it in his outstanding book, Startup CEO: A Field Guide to Scaling Up Your Business. The Business Roundtable’s 2012 Principles of Corporate Governance provides a very thorough and thoughtful description of the distinction, for those wanting to know more.

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The Other Man’s Hand- Poker and Strategic Objectives?

Joel Trammell

Posted by Joel Trammell
December 1, 2014

I originally posted this blog on the American CEO website, but wanted to share it via Khorus and relate it back to the concept of running a business and setting strategic objectives for a company.  How do can you get everyone working with a purpose?

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