Abstract of "Why CEO's Fail" - Ram Charan
Fortune. June 21, 1999
Successful focus and execution starts at the top and is vital to the success of CEOs today. The article addresses why so many talented CEOs are failing and losing their jobs. Ram Charan states, in approximately 70% of the cases, CEOs fail because of bad execution of the corporate strategy. Bad execution entails not getting things done, being indecisive, not delivering on commitments.
So, how do CEOs blow it? Ram claims, more than any other way, it’s by failure to put the right people in the right jobs—and to fix people problems in time. Also, these failed CEOs found no reward in continually improving operations.
Effective CEOs start by focusing on initiatives that are clear, specific, and few, and they don’t launch a new one until those in progress are embedded in the company’s DNA. For instance, Jack Welch has introduced just five major initiatives in 18 years as CEO. Additionally, great CEOs hold people accountable. With their initiatives firm, effective CEOs implement them through a process that seems simple, even obvious, but has profound effects
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