Mike Musso: Why CEO Leadership Gaps in Troubled Companies Matter – Journal of Corporate Renewal
Mike Musso was published in the Journal of Corporate Renewal‘s May issue. The article he wrote is titled “Why CEO Leadership Gaps in Troubled Companies Matter.”
One consistent theme can be found playing out in virtually every troubled and underperforming company: a sustained gap in effective leadership by the CEO.
Throughout the life cycle of a business, normal ebbs and flows of both prosperity and challenges are natural. Businesses are continually impacted by internal and external forces, and many may be out of management’s control. But the difference between successful and not so successful navigation of these waters lies in the hands of the company’s leadership— particularly those of the CEO.
Why is a CEO so important to an organization? Simply put, he or she determines what the organization works on (strategy), who is selected to do the work and how it is rewarded (talent and reward/recognition), the environment in which the work is done (culture), what bets the company makes and at what target return on investment (risk), why the company does the work that it does (core purpose), and the company’s financial returns (stakeholder value).