Today, CEOs and senior management teams face challenges like never before in the history of organizational management. Change inside and outside organizations distract leadership teams from doing what is right to achieve results. Where leaders focus their attention ultimately determines the success and viability of their companies.

What should business leaders be doing to ensure their success? CEOs are responsible for everything. However, a CEO’s duties are what he/she actually does - the things that cannot be delegated and matter most to the organization’s success.

Develop leadership throughout the organization. Most CEOs agree that leadership is critical, but few truly understand the leadership gap within their organization, let alone the effect it has on their organization‘s results.

Establish the vision and direction. The senior management team can help develop strategy, but the CEO must establish the “big picture.” What business are we in and what products and markets will we compete in?

Lead strategy development. The simple aspect of strategy is that if you do not plan on being in business next year, you do not need to establish strategy.

Build a culture which supports the achievement of the vision and strategy. Company leadership can change the culture by changing how they do what they do. Culture is the foundation on which success is built.

Why is it so difficult?

Doing what is right requires personal courage and risk, and brutal honesty.  CEOs must move out of the comfort zone of their functional discipline to accept the responsibility of a strategic thinker. Most CEOs have had no training in how to be an effective strategic leader and simply struggle with how to start or put something together that is practical.

Stuck in the past. Leaders that have had some degree of success in the past believe it will continue forever. The more a company is set on doing things the same way, the more it seems to have lost track of why it is doing something. Can you really continue to do the same things and expect different results?

In small and mid-sized companies, CEO time and resources are usually stretched thin. Many CEOs mistakenly conclude that strategic planning and people development cost too much, is not worth the time or is just for large companies, when in fact,investments in effective planning and development can produce dramatic results.

With the complex challenges that lie ahead for businesses, CEOs are challenged to take on more of a role of strategic thinker. By doing so, they will be able to successfully make the decisions that have greater and greater strategic impact and ultimately determine the success and viability of their companies.