It is a fact that most CEOs with high productivity and low productivity have similar habits and behaviors during the working week, but CEOs approach the job as a leader. will be able to run the business more efficiently than those who always think they are managers.
In a recent study, called CEO Behavior And Firm Performance, through a survey and direct assessment of the behavior of 1,000 executives ( CEOs) from six countries, the team found that there is a huge difference between successful CEOs – that can help businesses disrupt, lead the market – compared to the rest, which is effective. Specifically, effective CEOs not only have a unique approach to work, capable of managing stress, but can also exploit their advantages in information technology over their competitors.
Be a leader!
It is true that most CEOs with high productivity and low productivity have similar habits and behaviors during the work week. Specifically, according to the report of the research team, about 25% of the week CEOs spend on doing things alone, such as sending emails, reading reports …; 10% of the time is spent on personal matters, and 8% is spent on travel. The rest (57%) is used with at least one other person, such as meetings with production (35%), marketing (22%), finance (17%), meetings, discussions with customers (10%) or suppliers (7%) …
However, when the team conducted further analysis, they realized that the same habits as above, but CEOs who approach the work as a leader will be able to run the business. Businesses are more effective than those who always think they are managers. Because CEOs who have a leader-like approach often meet their subordinates and partners to communicate their goals, strategies and visions, thereby achieving their goals more quickly and effectively.
“We looked at the before and after data of 1,000 businesses for the 1,000 CEOs participating in the survey. We find that appointing a CEO as a leader is more productive than a CEO who is a manager. The difference will be most evident after three years in power ”- Oriana Bandiera, professor of economics, head of the survey, noted.
Not to be “burned out”
“Burnout”, or “Burnout”, is a phenomenon of exhaustion or a particularly severe drop in productivity after a period of labor or work.
In a recent study, K. Wiens Dissertation (Head of Health at Huron Consulting Group) and his research team directly tracked the work status of 35 professional directors in 35 largest hospitals in the country. America only then realized that up to 24 people (out of 35 people) often suffer from energy depletion and greatly reduced productivity.
Many people then often solve the problem by compromising stress, such as overeating, overusing coffee, alcohol … But in fact these are all ineffective jobs. The key issue is human emotional intelligence. One of the measures we can take to increase our emotional intelligence, to deal with stress or burn-in syndrome, is to learn to talk to ourselves, thereby understanding our limits. and learn to understand others.
Wiens Dissertation and the team found that CEOs are people who put themselves in too much pressure, targets to be fulfilled, and many of these don’t actually exist. As one director of expertise in the research described: “I have come to realize that a lot of my stress is self-induced, due to the pressures I have received in the past.”
Therefore, learning to talk to ourselves will be how we gradually release some of the stress that doesn’t exist. It also helps us to become more aware of our strengths and weaknesses, thus identifying what we can do and what we need help with. In addition, talking to ourselves also helps us learn to understand the other person, to empathize, avoid conflicts, which often destroy emotional balance.
Advantage from information technology
In a recent report, James Bessen, an American economist, teaching at the Boston University School of Law, found that leading businesses outperformed their productivity and revenue. players, often have a dominant advantage in information technology – things that come from a mindset that values intangible assets in the executive’s business.
Agreeing with this point of view, professor of economics Jonathan Haskel (currently teaching at Imperial College Business School) also thinks that investing in tangible assets (machinery, factories, equipment …) today will bring about prices. lower value for businesses than investing in intangible assets (software, data, staff training, management …). Not only do they have greater residual value, but intangible assets often tend to complement each other. For example, a business with a good background in information technology often requires a business with good management. Not only to be able to operate the system, but also to improve it.
At the same time, when the business has a good information technology foundation, CEOs will not spend too much time managing their team, thereby focusing more on leading and leading their team. accomplish goals at work.
“McDonald’s is not successful because they make the best hamburger. I believe my wife can bake a better hamburger than them. But we cannot compete with McDonald’s, because we cannot create the baking process that is as fast, accurate and perfect as them. We also couldn’t run a store system with thousands of employees. All must be thanks to assistive technology. And when you are an effective operator, you will be the market leader ”- James Bessen concludes.
* Source: Weekend Businessman