Three things CEOs must do to focus on the Big Picture
Clear vision and ability to focus on the big picture are qualities that all CEOs must possess. Big picture approach will ensure that organizations are prepared to not only execute their plans in the short term but also focus on initiatives that contribute to long term growth and sustainability of business performance.
Businesses will be successful when led by visionaries with definite plans and ability to prepare the organization for long term success. Leaders gifted with these skills often find themselves doing it unconsciously. However, CEOs who need to develop such skills can do so by adopting several techniques.
Three things CEOs must do to focus on the big picture are as follows:
Focusing on customers' requirements and expectations
Understanding customers' requirements is the key to the success of any business. CEOs need to realize the importance of anticipating future needs of customers in light of changing technological, socio-economic and cultural scenarios. This will require maintaining and managing a strong internal database of past and potential customers to analyse important trends.
Government and research publications containing demographic, psychographic and behavioural changes will be of immense help to catch up with the latest trends. Strategies developed by analyzing marketing data and customer feedback will help companies in meeting not only customers' current expectations but future aspirations too.
Concentrating on all products or services rather than just one or two
To develop a holistic vision, CEOs need to assess the consequences of every decision on all the products and services of the company. At times, leaders tend to evaluate plans keeping their flagship products alone in mind. However, it is important to see the effect of a decision on all current and new products and services offered by the company. Any step that proves to have a negative impact on any of the company's product portfolio, say, loss of revenue, discounted value proposition, dampening of brand image or giving in to competition should be avoided.
Pressure on generating immediate cash flow is found to be one of the chief reasons for myopic decision making by CEOs and this should be avoided as much as possible.
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