These skills be mentioned by Bonnie Foley-Wong who is the co-founder of Pique Fund in her interview on Inc. magazine recently. From her personal experiences when working with a lot of CEO from different parts of the world, she notices 5 main vital skills that every famous and successful CEO needs to control and be master of them. In this blog, I will cover these 5 skills and analyze while we should take care about all of this in our business.
1. MAKING DECISION
CEO need to be active in making decision and taking responsible for the final results. This is considered as the most important and complicated job that each CEO need to do every single day.
Actually, the CEO’s vision is the future of company while the strategies are the methods that company chooses to achieve their goals. If a CEO spends too much time to focus on the minor things in managing and operating, CEOs will lost their central role and lead to many risks in operating the company.
2. LEADING THE COMPANY CULTURE
To complete the role of a leader, each CEO need to be understand and create a unit company culture that encourage every member in the organisation to follow and believe in this culture.
If a CEO can’t leading the company culture, it will be very hard to convince the employees to believe and put all their dedication to the development of the company.
3. THE COMPANY’s CAPITAL
It doesn’t matter where is the origin of capital, from accumulated profits, debt or equity.
CEO needs to make sure that the capital flow in the company is maintained at the necessary level to maintain the company’s activities in unpredictable situations.
4. RISK MANAGEMENT
A real CEO is a person who can control the factors that cause fluctuations for the company and reduce the number of instabilities that can happen.
The ability to manage the risks will make a company/ organisation to be more attractive in the eyes of investors as well as the public. Moreover, this skill also saves a significant amount of money for the organization when don’t need to pay a lot of money for their mistakes (if the CEO can control it well). Last but not least, a company with a CEO is famous for risk management skill will be an attractive place for many potential candidates.
5. TAKE RESPONSIBLE WITH THE INVESTORs
A great CEO is not a person who just cares about his advantageous, instead, he/she will spend more attention to the benefits of investors (including the people who invest money to the company or even the public group who cares about the vision and goals of company/ organization (in the case of Non-profit organizations).
The CEO will take responsibility in explaining the strategies that be applied and the results which bring to the company, if it is a good campaign and bring benefits, a great CEO will share with the whole team while the campaigns with mistakes, the CEO should take his/her own responsibility before blaming others.