The study measured leadership strengths outlined by IBM Watson‘s content analysis tools, historical performance reviews and seven other factors related to strong organizational performance. It was conducted through 2,700 leadership interviews and rigorous statistical analysis. Four practices came out of this study as the best way to be a successful executive.
They Know the Whole Business
The reason former sports stars make such good coaches is because they have experienced the trials and tribulations that they aim to lead players through. The same goes for successful executives. The more an executive knows about the business they hope to run, the more successful they will become.
They Are Great Decision Makers
For executives, hard decisions are part of the job description. Whether you have to fire a popular coworker for insubordination or pull funding from a particular department, there is no room for flimsy backbones. Successful executives don’t only make the unpopular decisions when necessary, but they also keep employees and managers abreast of all decisions, inspiring and engaging them in the process.
They Know the Industry
Being a successful executive means dealing with competition and market shifts. You have to change with the times and no industry stays the same for very long. Not only do they have a general grasp of how the industry works, they also are inherently curious about the new innovations and developing trends that are happening. This curiosity keeps them focused on what they need to do to keep their business running.
They Form Deep, Trusting Relationships
While successful executives make their companies great, they can’t do it alone. After all, Michael Jordan needed Scott Pippen and executives need competent managers that can delegate work in a comprehensive and effective way. Establishing these relationships can foster a positive view of the company from on-lookers and employees alike. In addition, executives won’t fear the accusatory glances of employees who don’t believe they are doing a good job.
