CEO School by Stanislav Shekshnia Kirill Kravchenko & Elin Williams

Author:Stanislav Shekshnia, Kirill Kravchenko & Elin Williams
Language: eng
Format: epub
Publisher: Springer Singapore, Singapore

The second challenge is that the context is forever changing—and the pace of change is only increasing with time. This means that you have to keep learning about the business environment on a continuous basis not from time to time. Chul-Kyoon Lee of Daelim (South Korea) concludes: “As CEO, I need to forecast the future to have a corporate foundation for both shareholders and employees.” Alas, however, only you can decide where best to concentrate your efforts. But your own industry is a good place to start….

The Industry

Although the borders between industries blur as “blue oceans” open up and create new markets, the notion of sectors still remains relevant for most companies. The CEO should get to know the customers , competitors, suppliers, technology and regulators that define the sector—and constantly update his or her own mental models of what constitutes the industry. This knowledge cannot come from only one source and requires great personal engagement. The worst mistake is to leave the intelligence gathering to subordinates or a marketing department. Although these are important sources of information, the CEO should have his or her own access to primary sources. The CEO should meet with customers, speak with competitors, visit suppliers and attend technology conferences.

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