Many things can give your business an advantage. Culture, patents, technology, contracts, relationships and other assets. But for many companies, their biggest advantage comes from having a high functioning executive team. The benefits are multiplied when combined with strategic planning, executive coaching and behavioral assessments. Most importantly, it’s a leg up in Cincinnati, Ohio; Jacksonville, Florida; Kentucky and all over the US.
Let’s start with what the executive team is. It’s the CEO, President, senior VPs and board of directors.
These are the people who guide the enterprise. They set strategies and develop policies. They are the embodiment of the corporate culture.
Think of the executive team as the captains of a ship at sea. If they lead well, the ship sails safely and swiftly to its destination. But if they mismanage the journey, the vessel could be dashed on the rocks.
It all starts at the top.
Every business has an executive team. But not all are high functioning.
The cornerstone of a high functioning leadership team is clear and honest communications. Without it, information is siloed or withheld.
Another key is respect for organizational boundaries. This means, for example, giving the CFO the authority and responsibility for financial matters. The President could give the CFO an interesting article on a new strategy, but not personally investigate it without the CFO’s involvement.
An offshoot of respect is trust. Each member of the team needs to trust the other members. That goes for doing their job and doing the right things when no one is looking.
The team also has to be aligned on what the goals and objectives are.
A high functioning executive team is made up of a diverse group of people who can see around corners. Their combination of experience and sound judgment gives them the ability to intuitively make the right choice when confronted with difficult decisions.
Finally, a great leadership team admits their mistakes. They own them. And they quickly learn from their errors.
For the most part, the executive team doesn’t do the core work of the company. They hire and manage the people who do. And that’s why it’s so important to have a great team at the top. Without superior competencies, the ripple effect of bad decisions will eventually weaken or cripple once vibrant operations.
Krissi Barr of Barr Corporate Success knows what a high functioning executive team looks like. Throughout her twenty years as an executive coach, she’s helped hundreds of teams. Her strategic planning facilitation work has aided hundreds of businesses set the best course for the future. And her behavioral assessments help companies hire and develop the right people. It works in Cincinnati, Ohio; Kentucky; Jacksonville, Florida and all across the United States. Please contact Krissi if you’d like to learn how Barr Corporate Success can help you maximize your biggest advantage.