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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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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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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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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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