In today’s rapidly changing business landscape, the role of a CEO is evolving. Companies are now seeking leaders with a deeper understanding of technology and its profound impact on businesses.
Moreover, CEOs are expected to drive environmental, social, and corporate governance (ESG) goals more than ever before. Let’s discuss the changing expectations and skillsets required for CEOs in the modern era.
The Imperative of Technological Acumen
According to Monica Agrawal, MD-Financial Services, Asia-Pacific at Korn Ferry, CEO candidates must possess a robust understanding of technology. It’s not just about being tech-savvy; it’s about comprehending how technology can reshape industries, disrupt traditional business models, and offer new avenues for growth and innovation.
Championing ESG Goals
R Suresh, MD of executive search firm Insist Consulting, emphasizes the importance of CEOs being able to drive ESG goals. In an era where corporate responsibility is under the spotlight, CEOs need to ensure that their companies are not only profitable but also socially responsible and environmentally sustainable.
This requires a holistic approach, considering the interests of various stakeholders, from shareholders to the community at large.
The Global Perspective
Modern CEOs need to have a global perspective. With businesses expanding across borders and the world becoming more interconnected, understanding global markets, cultures, and economic dynamics is crucial. This global mindset allows CEOs to seize international opportunities and navigate the challenges of operating in diverse regions.
Embracing Continuous Learning
The pace of change in the business world is relentless. To stay ahead, CEOs must be committed to continuous learning. This means staying updated with the latest industry trends, technological advancements, and best practices. It also involves being open to feedback, constantly refining strategies, and being willing to adapt and evolve.
Building Collaborative Teams
A CEO’s success is not just an individual achievement; it’s the result of a collaborative effort. Building and leading high-performing teams is a critical skill. This involves recognizing talent, fostering a culture of collaboration, and ensuring that teams are aligned with the company’s vision and objectives.
Engaging with the Community
Engaging with the broader community is becoming increasingly important for CEOs. This involves not just corporate social responsibility initiatives but also actively participating in industry forums, sharing insights, and collaborating with peers. Platforms like LinkedIn offer a space for professionals worldwide to share their perspectives and collaborate.
Wrapping Up
The role of a CEO is multifaceted and ever-evolving. As businesses navigate the complexities of the modern world, CEOs must equip themselves with a diverse set of skills. From understanding technology to championing ESG goals and fostering collaboration, the modern CEO needs to be a visionary, a strategist, and a leader.
This article is inspired by insights from Preethi Ramamoorthy, Editor at LinkedIn News, Monica Agrawal, MD-Financial Services, Asia-Pacific at Korn Ferry, and R Suresh, MD of executive search firm Insist Consulting.
