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Roman Mlodkowski. Creating a low-cost TV channel from scratch. Success stories

IESE Standout — Thu, 06 Jul 2023 08:38:20 +0000

Roman Mlodkowski is CEO of BIZNES24, a private business news channel in Poland, and IESE alumnus.

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You would think that starting a new national television channel from scratch would require major investment and lots of people. Not so in the case of BIZNES24, Poland’s only 24-hour business news channel, a model of effective innovation, improvisation and cost control. According to BIZNES24’s founder and CEO, Roman Mlodkowski, “You can make professional television for pennies. It requires lots of work but it’s doable.”

Mlodkowski began his career as a journalist in Poland in the 1990s after the Solidarity movement helped bring about the end of Communist rule in Central and Eastern Europe, culminating in the fall of the Berlin Wall in 1989. “It was an exciting and interesting time to be a journalist,” he recalls, “not just because we were young, but because the world had changed completely: we moved from oppression to freedom. It was a new world.”

Unlike his colleagues who focused on political news, Mlodkowski specialized in business journalism. “Strategically, it’s good to differentiate,” he says. “For me, there are more answers to be found in business and economics than in politics. Business journalism deals in real numbers, so you can tell the full story.”

Stories that need to be told

After many years as a radio and TV presenter, producer and director, Mlodkowski didn’t see much space on Polish television for the many interesting stories that he felt needed to be told of companies that were growing and changing the ways things were done. So, he decided to set up his own business news channel. “I keep starting things, which is a privilege but also a curse,” he remarks wryly.

BIZNES24 was launched on January 2, 2020, in the same building where the first independent Polish television channel, Polsat, had also begun. Polsat vacated the building on March 2, and in 18 days Mlodkowski and his crew transformed the studio into their own operation. Their inaugural broadcast was Friday, March 20, 2020 — a fateful time as it also coincided with the start of COVID-19 pandemic lockdowns in Poland and around the world.

A large percentage of BIZNES24’s revenues came from doing special projects, which they weren’t able to do because they weren’t allowed to meet anyone. In time, lockdowns eased, but just as things were picking up and growing, the war in Ukraine broke out, which once again curtailed their ability to do projects.

Innovation, the secret to survival

Despite these crises, BIZNES24 has prevailed. The secret to their survival is innovation, he says, especially in their cost structure. Instead of spending millions on the latest technology and equipment, they bought a PC — a powerful one but a PC nonetheless — and software costing around $450, which he says can do as good a job as a million-dollar control room.

They also saved money by buying equipment that Polsat no longer wanted, obtaining three studio cameras for a fraction of what they were worth when Polsat moved out. They also keep personnel costs down by employing one control room operator instead of the usual three, and when one of the anchors is off work, Mlodkowski himself steps in and assumes their place in the newsroom.

Making a difference

Mlodkowski credits the creation and success of BIZNES24 to the sheer motivation of his small yet highly dedicated team. He is a strong believer in “triple motivation” — that is, extrinsic motivation (pay), intrinsic motivation (professional challenge) and, above all, transcendent motivation, the idea that the work you do benefits society. In a world of fake news, he and his team are convinced of the importance of keeping people well informed about economic and financial matters.

“We enjoy this professional project that we are building and the feeling that we are making a difference together. It’s a huge privilege to work with people like this.”

One of the things that Mlodkowski learned while doing the Advanced Management Program (AMP) at IESE is the need for structure. The media industry requires an attention to detail and a focus on things that can easily get overlooked, especially when broadcasting 24 hours a day. Setting up clear management structures from the start is invaluable.

Being a trustworthy source

BIZNES24 is carried by all the major distributors in Poland and has its own streaming channel. According to Nielsen, BIZNES24 reaches over 2 million viewers a month, or roughly 100,000 unique viewers a day, catering to a niche but affluent target audience. “We make terribly boring television,” he jokes. “You have to be really interested in business to watch us.”

Because BIZNES24 is a small, low-cost operation, what their shows may lack in spectacular lighting or slick graphics, they more than make up for in the quality of their guests and the strength of their editorial independence.

“One of the reasons that we can survive in this market is because we’re a trustworthy source,” says Mlodkowski. “The news is something that we never sell; you can’t buy an interview. We’re very strict about making sure that the viewer knows which content is independent editorial and which is promotional or commercial content.”

Mlodkowski’s life is dominated by television. He admits that the long hours can sometimes make family life challenging, but he wouldn’t have wanted a different career. “When you have a creative job, it’s a blessing. Just like a painter or sculptor doesn’t go to work, they just paint or sculpt, I don’t go to work either: I make television. My job is my passion.”

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Marc Coma. When the Dakar champion becomes CEO of KTM. Success stories

IESE Standout — Fri, 28 May 2021 13:57:33 +0000

Marc Coma, CEO of KTM AG in Spain, won the Dakar Rally five times on his motorcycle before making the leap to business management.

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Hardly anyone expected it. So when he said that he was retiring from top-level competition, it was like a bomb. He had achieved international legend status as a rider, he was at the peak of his career and his fans and sponsors didn’t even want to imagine a future without him.

It was 2015 and, in the two years prior to his surprising announcement, Marc Coma had won the Dakar and Qatar rallies twice in a row and had also been crowned rally champion in the Morocco Rally and in the world championship of Rally Cross-Country. He was a fierce, cunning and unstoppable rider. How was someone like this going to retire in their prime?

That question, which many were asking at the time, was a trick question. Coma wasn’t thinking of retirement. Quite to the contrary. What he needed was a change in his life and profession, to take on new challenges and compete in a different kind of way. A legendary rider was aspiring to become an extraordinary manager.

“The most difficult thing is managing the moment where you stop competing. It is the most complicated step an athlete has to take. Managing this stage in your sporting career well is a victory in itself, ” the rider admitted months later to Spanish news agency Agencia EFE.

But, in 2015, after a career full of successes, Coma was almost forty years old … If he wanted to become a manager, he had to get moving.

How to design a professional transformation strategy

Coma knew that he had to first analyze his main strengths, identify the sector where he could develop them, acquire some business experience and choose the right training program that would provide him with the knowledge and contacts he needed in a short period of time.

His strengths seemed clear: it takes exceptional leadership and temperance to prevail in competitions that force you to cross the desert. There the conditions are extreme and you have to make decisions extremely fast. In parallel, he had been managing his assets and his sports career for years – he was his own manager – and he knew what it meant to lead a project, since he had launched a team to help younger motorcyclists.

Shortly after stepping away from racing in 2015, Marc Coma assumed the sports management of the Dakar Rally as number two in the organization, below its director, the Frenchman Étienne Lavigne. There, as he himself acknowledged in numerous interviews, he immersed himself in the organizational and business side of the competition. He was there for almost three years thrilling years.

Coma reached his next goal in 2018. He wanted to stop, take time, get perspective and train as a manager. And he chose an Executive Education programa at IESE to do so. He was looking for a different vision of business management and a network of contacts with whom he could grow professionally and personally, beyond motorcycling.

And beyond the program itself, he found himself immersed in an environment that gave him the opportunity to collaborate with other future senior executives, soak up different ideas, experiences and dreams and put his leadership to the test in a different way. “The feeling when you start learning again – he acknowledged – is fantastic”.

From the classroom to the company

True to his career, after going through IESE, Marc Coma continued to accomplish his objectives. In 2019 he joined the senior management of KTM Spain, the brilliant Austrian motorcycle firm that he knew all too well from his time as a rider and that has more than 100 dealerships in Spain.

There he made the most of the opportunity to learn for an entire year alongside César Rojo, the CEO who had placed the company on the map for major competitions, along with Husqvarna Motorcycles. The Spanish subsidiary of KTM had become one of the fastest growing in the group and, in addition, Rojo was another great reference in the sector: he had won nine world titles as team leader with Derbi and Bultaco.

After this period of adjustment, Coma was more than prepared. His great opportunity had come. In 2020, he rose to the top leadership of KTM in Spain and completed an impressive transition from the deserts of Dakar to the demanding offices of the Austrian multinational.

Marc Coma: 5 keys to reinvent yourself professionally

You don’t know how to run if you don’t know how to stop. Get it in your head.
Realistically identify your skills. And learn to develop them.
Find a great school. And great teachers.
Already know how to lead? Learn to collaborate.
In the desert or in the office, always believe in yourself.

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What are you: A boss or leader?

IESE Standout — Tue, 04 May 2021 10:55:45 +0000

No, they aren’t the same thing. Giving orders is one thing and leading is another. When it comes to giving orders, all you need is hierarchy, rank and a desire to achieve objectives. To lead, you need a whole lot more.

The productivity, satisfaction and loyalty of teams are firmly linked to a manager’s ability to inspire, motivate and transmit passion to their employees. Ultimately, great bosses are great leaders. And you can become one.

Leader vs. boss. 4 differences.

If you want your team to produce more, be happier, be more committed to the project and last longer in the company, you have to be more than just a boss. And the only way to achieve this is for you to learn to identify the four traits that distinguish giving orders from leading:

To be a leader is to know how to communicate

Leading is in large part mobilizing, influencing and guiding other professionals towards continuous improvement and achieving ambitious goals. That’s why leaders are extraordinary communicators. And here we’re not just talking about giving impressive speeches at important events. We’re talking about humility, empathy and close, daily contact.

Leadership is based on trust

A boss who goes to every single meeting and who is involved in absolutely everything going on is not a good leader. And not just because they don’t know how to delegate. That, of course, creates inefficiencies and friction. But the bigger problem is that their subordinates don’t feel that they’re trusted. And when you think someone doesn’t trust you, you lose interest, motivation, and even start to doubt your own ability.

A good leader empathizes

A leader sees and treats their team members as individuals, including and beyond their working capacity. Hence the importance of emotional intelligence and understanding personal difficulties that may temporarily reduce team performance. The most talented professionals are fully committed to projects because they remember how their bosses engaged with them and with their peers.

To lead is to be honest

Honesty is a core value for any leader. The best leaders lead with straightforwardness, with a clear strategic vision, recognizing their employees’ merits. Leaders fulfill their promises when it is in their hands to do so, and when they can’t, they explain why it’s impossible. They aren’t afraid to admit that there are factors beyond their control. This is one of the great signs of their humility.

Discover the Guide to the main types of leaders, which one are you?

The impact of good leadership

There are countless stories that exemplify what it means to be a leader and what impact they can have on their teams.

Raúl Bartolomé remembers how Jesús Luis Yu, his boss, urged him to attend an extremely important meeting on his own. Yu needed to get ahead on another project he was leading and he simply told Bartolomé: “You’re invaluable and you can manage on your own.” And he did.

Carlos López explains how Javier Ventura-Traveset never misses the opportunity to acknowledge every good decision he makes. And this has led them to become close and sincere with one another.

Ana Navas highlights the advice she receives from her boss, Ana López Ranz, to continue growing professionally every day. She knows what she expects of her and that she can count on her support, her understanding and her enthusiasm to achieve whatever needs to happen. And not just at work.

Because nothing starts and ends simply in the office. Perhaps that’s why Javier Pérez Blanco was so impressed that his boss, Miguel Ángel Leal, asked him to prioritize taking care of his father, who was seriously ill, over his obligations at the company.

Discover the 13 questions to find out if you are a good leader.

Miguel Ángel Leal, Ana López Ranz, Javier Ventura-Traveset, Jesús Luis Yu and many other professionals have trusted IESE to guide them in their growth as managers through the Programa de Alta Dirección de Empresas (PADE). The equivalent in English are the Advanced Management Program (AMP) and the Global CEO Program (GCP). In addition to these programs, IESE offers a wide range of executive programs for you to develop your full potential as a leader.

Read the article Keys to Being a Good Leader.

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Iván Tintoré. From a parachute jump to a general management course. Success stories

IESE Standout — Fri, 23 Apr 2021 10:39:43 +0000

Iván Tintoré, director at iContainers Solutions, enrolled in IESE’s General Management Program after losing a bet to his wife. Want to know what the bet was?

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Discover his story in this video:

Elena Fontelles, CEO at Happets.com, had it very clear: when challenges arise at work, you need a clear method for finding the best solution in record time. And that can be learned. What’s more, you have to learn it as soon as possible.

Elena had completed the IESE General Management Program (PDG) in 2017. And it had served her precisely to learn this approach to problem solving. The case method had given her a new strategic vision and she believed that the same path would also be very useful for her husband, Iván Tintoré. But she also knew that it wouldn’t be easy to convince him to do it.

Iván acknowledges that his working hours are extremely long and that he turns off his cell phone around eleven or twelve at night. All this, plus his family responsibilities barely leaves him time for another one of his passions: flying. Occasionally he also enjoys parachuting. Where was he going to find the time to go back to school?

But Elena hadn’t reached where she was professionally by giving up on the first try. So, she started a campaign to persuade her husband that the program was going to be as useful to him as it had been for her. Ivan, however, was hiding an ace up his sleeve to avoid pressure. Aware of his wife’s respect for heights, he told her: “I’ll do the PDG, if you parachute.”

Contradicting how well Iván believed he knew his wife, in less than a week they had already jumped out of a plane. Elena smiles whenever she remembers how everything happened: “They say that you always have to find new ways to surprise your partner, right?”

Both agree that there is a clear parallel between doing a management program and parachuting: they are both experiences that prepare you to know how to react to pressing challenges without being overwhelmed by confusion or fear.

Exactly one year after Elena finished her General Management Program (PDG) at IESE, Iván began his. The equivalent to this Spanish-imparted program for English speakers is the Advanced Management Program (AMP).The first day of classes, when a professor asked participants why they had decided to do it, he got up “with great humility”, smiled and said: “I’ve been forced to do it because I lost a bet to my wife.” And it didn’t take long for him to plunge into the experience with the same giddy illusion with which his wife had jumped out of that plane.

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The 10 top C-suite leadership skills

IESE Standout — Fri, 05 Mar 2021 15:13:02 +0000

From CEOs to CMOs, CIOs to CFOs, C-suite executives share some common leadership traits: the ability to inspire and align others around shared objectives, an agile mindset and a robust understanding of the overall business, to name a few.

While these core qualities have withstood the test of time, it is also true that different times call for additional skills. So what does effective leadership look like in the post-COVID era? What new qualities should the C-suite embrace to navigate a world spinning off its axis?

IESE professors and other thought leaders have looked at what characteristics – some classics and others newer – an ideal CEO needs.

10 C-Suite leadership skills you need

1. Strong, inclusive and inspiring

Capable of motivating, inspiring and aligning the entire team behind a shared goal. Crucial to this is emotional intelligence (EQ), which has two sides to it: first, the ability to recognize, understand and effectively manage one’s own emotional state, and second, the capacity to engage empathetically with others and appreciate their emotional states. Leaving this textbook definition aside, the maxim “People join companies; people leave bosses” perhaps best captures the essence of EQ.

While often deemed a “soft skill” – and as such, less critical than technical proficiency and bottom-line results – EQ is critical for leaders who aspire to unite, motivate and align others.

2. A strategic vision

For the medium-long term, balancing prudence and practicality.

Read the article about How to improve your strategic thinking

3. Flexible and able to manage change

In the post-COVID era, staying put in a comfort zone is no longer an option.

4. Principled and able to lead by example

Solidarity, closeness, humility, optimism and courage are values that have gained traction in society and in companies. 

The ambiguity unleashed by the pandemic has made it glaringly obvious that no one has all the answers, highlighting the need for humility and a willingness to listen to dissident voices. It’s also important to define humility as a concept since some mistake it for passivity or submissiveness, according to Edward D. Hess, a professor at UVA-Darden. “Rather, it’s the ability to tame one’s ego and connect with others creatively. […] This is the gateway to an open mind, partly because it allows you to process new information without reacting fearfully or defensively,” Hess says.

IESE Prof. Sebastian Reiche agrees: “Research supports the positive notion of humility, linking it to inquisitiveness and openness towards learning and being taught by others.”

5. Resilient and capable of managing adversity

By focusing on the available resources and what’s possible. 

6. Innovative

Profound changes that were already afoot pre-pandemic are now accelerated by crisis.

7. Decision-maker

Armed with a good decision-making process and data that’s appropriate for the question at hand.

Download our ebook 8 decision-making pitfalls for executives

8. Efficient and results-oriented

Since the business environment is increasingly competitive.

9. Collaborative

Able to work as part of a team and humanize the company.

Global leadership often conjures an image of the lone hero rousing the troops and leading his or her subordinates into battle, but the pandemic turned this notion on its head, according to Prof. Reiche.

“Successful leadership is the result of a collective and collaborative effort, so there is a little of ‘Batman’ in this concept,” says Reiche. Batman didn’t have any supernatural powers like flight, laser vision or lightning-fast speed but he was smart enough to surround himself with others that did – and still hold his own.

“The COVID-19 crisis perfectly illustrates the need for cooperation.”

Sebastian Reiche, IESE professor

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“No leader alone can battle the crisis without the collective effort to physically distance, wear masks, take responsible decisions and seek collaborative efforts to develop treatments, save small businesses and adapt to virtual realities”.

10. Communicative and a good listener

Not only must corporate goals and values be clear, but they must also be conveyed.

The pandemic has also taught us that people have different reactions to risk and uncertainty, which is why C-suite leaders need to communicate clearly and empathetically and create forums for connection, not one-way channels.

In this regard, IESE Prof. Yago de la Cierva says overcommunicating is far better than a lack of communication: “Silence never works. Don’t be afraid to say ‘I don’t know’. Even if we think we’ve said everything we know, keep insisting. Transparency is the only element that works”.

Learn more about IESE’s top-ranked programs for high-level executives like you, including the Advanced Management Program and Global CEO Program. 

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How to become a CEO

IESE Standout — Tue, 02 Mar 2021 09:09:25 +0000

The executive roles of the C-suite are the target destinations for ambitious business leaders, and the position of CEO is the ultimate prize for many. A recent study of 965 global CEOs by Heidrick found a diverse pathway to become a CEO, but something a majority of the CEOs had in common was advanced degrees.

Paths to become CEO

The modern CEO

Heidrick’s study found that companies hiring externally favored other CEOs, ready to tackle the challenges of global business in a pandemic. Internally, division leaders were favored, particularly COOs. But these more traditional paths only accounted for 20% of CEOs. The rest followed a diverse range of paths, with companies valuing a wider range of backgrounds, skills and levels of experience.

“Though CEOs expect to rely ever more on their teams, boards are also increasingly seeking diversity of experience and thought in the CEOs themselves,” says the report. So how do you ensure your CEO strategy will secure you the top role?

Set your CEO agenda

To ensure you’re on the right track, you need to plan like a CEO and get into the mindset. Create your own CEO agenda and consider what you want to accomplish with it. What are your goals? How will you judge at year’s end if you were successful in reaching them? Are you heading in the right, proactive direction toward success?

A Global CEO Program can help potential CEOs better grasp the knowledge, mindset, skills and capabilities needed to lead companies to the next level of excellence.

Plan your succession

Heidrick’s 2020 CEO report found that companies are increasingly developing internal successors as CEOs. In today’s extraordinary business conditions, companies are bringing in potential CEOs at one or two positions below CEO level to allow executives to immerse themselves in the business culture.

This gives companies a range of candidates to choose from, so it’s essential that you are strongly aligned with the company’s vision if your goal is to emerge as the natural successor to the CEO.

“The case for a functional CEO is strongest when his or her expertise is core to a company’s critical business challenges,” say Michael Birshan, Thomas Meakin and Kurt Strovink from global strategy and corporate finance firm McKinsey. “Organizations in the midst of a major digital transformation might benefit from a CTO in the top spot, and a CMO-turned-CEO could be just what the doctor ordered for a company rethinking its brand portfolio.”

Look to the future, not the past

In a somewhat prescient survey of 800 global executives in 2013, leaders suggested that an increasingly disruptive environment makes past performance an unreliable indicator of future CEO success. “The great majority see their companies’ ability to effectively identify and nurture great future leaders being significantly hampered by an increasingly complex business landscape,” the report correctly projected.

More important than past performance, they overwhelmingly agreed, is identifying the personal traits that indicate leadership potential.

Executive education programs, such as an Advanced Management Program, exposes you to the latest trends, ideas and concepts shaping global business and gives you the knowledge, insight and mindset you need to drive and sustain competitive advantage to become great leader.

The post How to become a CEO appeared first on IESE Standout.

6 C-suite strategies to navigate through uncertain times

IESE Standout — Fri, 11 Dec 2020 12:02:52 +0000

C-suite leaders were already familiar with the need for corporate resilience, positive change management and disruption strategies when the pandemic hit and changed everything. Overnight, “leadership under uncertainty” took on an entirely new meaning.

As we continue to forge ahead in a context of ambiguity, the following insights – drawn from the fields of business, academia, social science and psychology – offer broad-based strategies for C-suite leaders to navigate the present while planning for the future.

6 C-level strategies for managing in these uncertain times

1. Embrace a new definition of happiness

C-suite executives are charged with generating long-term sustainable value for their firms, but successful leadership entails more than steering corporate operations. To be effective, executives need to stay keenly attuned to their well-being and happiness levels, says Tal Ben-Shahar, an expert on positive psychology.

“To be effective, executives need to stay keenly attuned to their well-being and happiness levels.”

Tal Ben-Shahar

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The first task at hand might be embracing a new definition, since study after study has found external markers like job titles, financial success and corner offices bear little correlation with happiness. According to psychologists, strong interpersonal relationships, health and longevity are the ultimate predictors of happiness, which should be viewed as falling on a continuum rather than a destination.

When it comes to fostering happiness in the workplace, a little goes a long way according to Ben-Shahar’s research. “In organizations, we find that even small increases in happiness lead to significant upturns in productivity, creativity, teamwork, engagement and motivation. It’s not about radically increasing levels of happiness but rather driving incremental increases.”

2. Complete the stress cycle

Stressors come in all shapes and forms and accumulate on a daily basis, from getting cut off in traffic to dealing with contentious clients. According to Dr. Emily Nagoski, health expert and co-author of the bestseller Burnout, it’s important to differentiate the stress from the stressors and controllable versus uncontrollable stressors, and take steps to “complete the stress cycle” to return to a state of relaxation after escaping the proverbial tiger. To this end, the first lines of defense include moving – even for short lengths of time – breathing, talking to others and laughing, among others.

Ben-Shahar offers similar advice. “The problem is not stress per se,” he explains. “The problem is not allowing time for recovery. We need to energize our lives with recovery.” He recommends building recovery into our routines through exercise, regular breaks from our work and delineations between our personal and professional schedules, which brings us to the next point…

3. Establish clear boundaries and transitions

Temporary work-from-home mandates have now become the norm in many companies, blurring the lines between our personal and professional spheres. In order to smooth this transition, Prof. Nancy Rothbard of the Wharton School of Business recommends putting clear time and spatial boundaries when working from home.

“As many knowledge workers and their managers face more months of remote work, it’s vital to understand how you and your employees navigated work-family boundaries in more traditional office environments — and how mandatory working from home affects these approaches,” she says. “Only then can you begin structuring remote work that is not only productive but honors everyone’s boundaries over the long term.”

4. Script the future

As the saying goes, “The best way to predict the future is to invent it.” This is precisely what Bill Gates does during his famous twice-yearly “think weeks” and what Amazon’s senior leadership team does every Tuesday for four-hour sessions: they distance themselves from distractions to reflect and deliberate about the future.

According to Miquel Lladó, IESE professor and author of Falling in Love With the Future, “The world is changing so fast that it’s not enough for companies to have a 5- or 10-year corporate strategy. Rather, this strategy must be changing continuously to keep up with market shifts. Today’s senior executives must think strategically all the time.” In his view, strategy definition starts with clarifying end objectives and devising a roadmap to get there.

“Today’s senior executives must think strategically all the time.”

Miquel Lladó

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From his years of experience as a top-level executive, consultant and academic, he has identified four powerful frameworks to guide this strategic reflection:

The PESTEL analysis – short for Political, Economic, Social, Technological, Environmental and Legal – to help pinpoint macro forces
Porter’s five-forces analysis, to better understand the changes in your competitive landscape
The strategy choice cascade outlined in Playing to Win: How Strategy Really Works
The “blue ocean” theory, to exploit untapped market opportunities

Discover in this article how to improve your strategic thinking.

5. Remember that management is about people

Successful strategies stem from your ability to inspire and align your team by fostering motivation, energy and meaning to the task at hand. In this regard, C-suite executives need to assess and harness what everyone brings to the table, including their own roles as leaders. As Prof. Lladó observes, “In life and in business, you are the most important person you report to. Think about what you want and move toward the future you’ve designed.”

6. Take concrete steps to continue learning

Increasing international competitiveness, demographic shifts and technological innovations have all led to important changes in the global workplace in recent years, a transformation accelerated by the pandemic. Lifelong learning at all organizational levels will be key for businesses to navigate the changing world of work. So ask yourself: what are you learning at the moment?

Learn more about IESE’s top-ranked programs for high-level executives like you, including the Advanced Management Program and Global CEO Program.

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The new C-level executives

IESE Standout — Wed, 02 Dec 2020 14:42:10 +0000

In recent years, the use of the expression “C-level” has become more and more widespread when referring to the top-level executives who occupy the highest positions within a company. In some cases, these senior managers form part of their company’s board of directors.

The “C” refers to “chief” and the “C-executive” almost everyone is familiar with is the CEO (Chief Executive Officer). But there are many other top managers in positions starting with the third letter of the alphabet. Just what are these positions? Here you’ll discover who’s who in an executive organizational chart and some of the new emerging roles on board of directors.

Traditional C-level executives titles and responsabilities

Executives responsible for the strategic decisions of a company make up what’s known as the C-level echelon. For this reason, some C-suite executives form part of the board of directors.

Common C-levels on boards include:

CFO (Chief Financial Officer)

The CFO is in charge of the financial planning, cost monitoring and control, fiscal management, and other aspects related to the health and financial optimization opportunities of the company. They’re usually in charge of business administration, risk management and auditing. They offer support to management when it comes to strategic analyses and defining company policies.

COO (Chief Operating Officer)

The Chief Operating Officer is the senior manager whose responsibility is to supervise the day-to-day activities and administrative aspects of a company. Often times this includes human resources management, which is why the role includes key areas such as recruitment, training, payroll management and legal and administrative matters. However, this role varies a lot from company to company. In some, this function is closely related to production and service management (i.e., factory management, logistics or office or store operations), leaving people management to the responsibility of another C-level manager under the title of CHRO (Chief of Human Resources Officer).

In many companies, the COO is considered a deputy director to the CEO, making them second in the executive chain of command.

CIO (Chief Information Officer)

Although the information systems managerial role has existed for more than two decades, in recent years it’s gained more relevance because of the digital transformation. The CIO’s functions go beyond systems management to include innovation strategy and aspects related to value creation, such as obtaining and managing key data for the business. In some cases, this manager’s position is known as the Chief Digital Officer or Chief Transformation Officer.

Discover the keys to become a CEO in this article.

New C-suite executives titles, roles and responsibilities

Although boards continue to prioritize profiles with experience in financial matters and administrative aspects within companies, new needs and trends are emerging that are leading to the formation of more diverse senior management teams with new skills. These new profiles include:

Chief Digital Officer
Chief Security Officer
Chief Experience Officer
Chief Marketing Officer
Chief Communications Officer
Chief Sustainability Officer
Chief Wellbeing Officer
Chief Happiness Officer

Among the new skills required in top management are those related to the digital transformation of companies and the need to be more customer-centric. Hence, in recent years, chief executives with titles as varied as Chief Digital Officer, Chief Security Officer, and Chief Experience Officer have come on the scene.

Another trend that’s had a direct effect when it comes to appointments is the need to direct growth and market access strategies (efforts led by the Chief Marketing Officer), as well as the reputation of the company, a task usually taken on by the Chief Communications Officer. The latter is also in charge of managing the interest groups close to the company.

Companies’ top management is also adapting to a series of demands from society, which is increasingly more aware of the need to preserve the sustainability of our planet and the quality of life of employees. To this end, the presence of Chief Sustainability Officers is becoming more common, tasked with going beyond compliance with regulations (that until recently were managed by the Directors of Operations or Compliance Departments) to setting goals and designing strategies that lead to greater environmental responsibility and a greater sense of purpose for the business.

In some sectors, caring for employees and concern for attracting younger talent – whose professional preferences and values have changed – have given rise to new positions such as the Chief Wellbeing Officer and Chief Happiness Officer. Although they don’t generally have a place on the board, the mere fact that they exist on senior management organizational charts reveals the importance of the human dimension in current management.

3 competencies for C-level senior management

Regardless of the positions they occupy, today’s C-suite managers are required to have a solid understanding of the reality of their organizations so that they are able to lead transversally (that is, across the organization) and can achieve the objectives of the company in collaboration with its different teams.

Specifically, there are three competencies that are increasingly required in senior management:

1. Organizational agility

The business world has become much more uncertain and fast-paced. Managers capable of thinking in a transversal way with a sense of urgency are needed, equipped to make decisions and direct their implementation in an agile fashion. New agile work methodologies can help, but only a leader with a comprehensive vision of the organization and the ability to “untangle” the organizational complexity of their company will achieve positive results.

2. Ability to align

Because of inertia, organizations tend to create silos and prevent projects from forming part of an overall strategy. Here’s where a manager’s ability to persuade and align the different teams towards more ambitious goals than those of specific departments or projects comes into play.

3. Customers at the core

As much as they move up the organizational chart, managers cannot lose focus of the customer. This trend forces senior managers to constantly listen to customers and clients and to question the user experience and their relationship with the company.

If you are a C-suite executive or aspire to become one, knowledge and experience in your area isn’t enough. Your role now is to step outside your specific area to lead the organization towards new horizons. IESE’s programs for C-suite and senior executives offer the ideal setting to develop these competencies alongside other senior managers. Learn more about them

What worries CEOs the most? Learn about their concerns in this article.

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How to convince your boss to do an executive education program

IESE Standout — Mon, 30 Nov 2020 13:01:22 +0000

You know that learning is crucial to continued career progress. You realize that you could use some upskilling in certain areas. You’ve found a course that you’re confident will help you do your job better, as well as make you feel positive about your personal and professional growth.

Now, how to convince your boss to support you, in terms of financing the program or giving you the time you need to do it?

8 tips for how to persuade your boss that you need to do a professional development course

These are the eight steps you need to follow in order to succeed. In addition, we’ve created this personalizable letter template with which you can craft your email or letter to send your message to your manager or HR representative. Download it for free and take the first step toward obtaining the career training you need.

1. Find out exactly what your company’s policy on professional development is.

Every company’s is different. In order to begin the process with reasonable expectations, find out how much time you’re allotted, whether your company funds it and what steps you have to take to request it. Very early on, you might want to mention to your boss what you’re thinking, which gives them a heads-up and also creates the space for them to make suggestions if they want.

2. Think about how the executive education program or course benefits you.

It’s not enough to say that you’re interested in a topic. Instead, you need to have clear exactly what the benefits will be for you personally and professionally. A focused executive education course can give you the specific skills or knowledge you need to perform better. Longer-format programs can be transformational experiences that give you a new perspective on your company and industry.

3. Now think about benefits for your boss and your company.

At the end of the day, an employer will be most eager to support you if there’s a decisive case for benefits to the company. Think about how your learning fits into the larger goals and needs of your company, and prepare an argument around the return on investment. You might also want to have thought about three benefits for your boss.

An employer will be most eager to support you if there’s a decisive case for benefits to the company.

4. Do your homework on what you’re asking for.

Find a specific course, understand what time and money commitment it entails, and learn about the institution offering it. Also, find out about possible grants or scholarships available – many universities have extensive financial aid programs, and government agencies can also be a source for funding.

Once you have narrowed your choice, try to draw on an internal network of alumni. If there are other people who have done programs at the same institution, reach out to them and bring them onto your side.

5. Prepare for the conversation.

Now spend a few minutes thinking about the convincing arguments you’ll make to your boss and how you’ll articulate them. It’s unlikely to go exactly as planned, but it’s worth rehearsing. Approach it like you would any business negotiation, which involves preparation, considering the other side, putting forth proposals, etc. Prof. Kandarp Mehta always recommends seeking advice rather than claiming in negotiations. That could mean instead of saying, “I want to do this program,” asking first, “What kind of program do you think would benefit me?”.

6. Be prepared to compromise.

Maybe your boss won’t be on board to fund 100% of your course and give you 100% of the days off. But it may well still be worth it if they are willing to pay a portion of it, or grant you some time. Establish what your priorities are – time off? economic support? — and what you’re willing to give up.

In addition, everything doesn’t have to be closed before the start of the program. Particularly if you’re doing a longer-term program, you can continue to negotiate even after the program has started.

7. Spread your new knowledge around.

Think about the ways you can share what you’ve learned with your colleagues. You’ll be in a much better position to negotiate if by paying for one program, many people benefit.

8. Now request a meeting with your boss.

Since professional development goes hand in hand with broader career goals, it’s probably best to discuss your request in person or in a video call. That will also give you the opportunity to respond to any doubts or questions your boss may have. Take into account when your boss is most receptive to this kind of conversation – don’t ask for it at a time when you know they’re facing deadlines or are otherwise stressed

Think about how your learning fits into the larger goals and needs of your company.

At IESE we have programs and courses for every level of commitment and in a wide variety of formats. Our focused programs hone in on a specific skill or topic, from artificial intelligence to communications. Our longer-format programs such as the Advanced Management Program and Program for Management Development offer you a holistic approach.

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Time management strategies for CEOs

IESE Standout — Mon, 30 Nov 2020 11:15:11 +0000

High-achieving professionals like you juggle a multitude of demands from your own department and beyond. That makes managing your time well and setting your priorities fundamental to achieving your goals as a leader.

Here are some tips for determining what can’t be missing from your calendar and how to improve your organizational skills.

Tips on setting an executive agenda

Ask yourself some questions

Before you begin work on your agenda, consider what you want to accomplish with it. What are your goals? How will you judge, at year’s end, whether you were successful in reaching them? Are you heading in the right, proactive direction toward success?

Now think of the steps you can take in two different areas: designing your agenda and implementing it. Here’s a helpful tip for you based on analysis of business leader agendas: they consistently spend about 30% of their time on developing strategies and 70% of their time following them.

What must a CEO agenda include?

What are the must-have items in your executive agenda?

Strategy

This includes both your short-term strategizing, specifically its positioning and implementation. Long term, consider your business portfolio and investments.

People & Leadership Development

The focus on your employees spans the early stages of analyzing recruitment practices to, eventually, molding future leaders and solidifying employee commitment to your organization.

CEO

You’ve also got to think and plan like a CEO, starting with self-assessments and running all the way through your succession planning.

Financial Performance

The financial portion of your agenda planning will center on analyzing your firm’s ROI and liquidity, risk management, value creation and getting to know the markets.

Customers and Innovation

First, pay attention to customer satisfaction with your company and keep on eye on efficient resource allocation. Then examine ways to boost customer loyalty and other growth boosters.

Institutional Development

This agenda item first focuses on your stakeholder relations before considering the long-term matter of helping make your company a respected institution.

6 tips for managing your time like a CEO

1. Own your schedule, and don’t let people arrange meetings for you via online calendars.

2. Organize your time, not your work.

3. Schedule “buffer zones” between meetings that will let you analyze meeting content and give room to handle unexpected events.

4. Set aside two hours each week for quiet self-reflection on the issues you’re currently facing and the progress you’ve made.

5. Avoid multitasking. It’s important that you give people your full attention, even if only for a limited time.

6. Take a course or training workshop every five years. Read relevant news, but focus on making news.

A program like the IESE Global CEO Program helps CEOs like you better grasp the knowledge, mindset, skills and capabilities needed to lead your company to the next level of excellence. Another option is the Advanced Management Program (AMP), which exposes you to the latest trends, ideas and concepts shaping global business.

And IESE’s other Executive Education programs cover a wide range of formats and topics that will improve your leadership skills and help you become the best leader for your team and company.

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