Seemingly “Safe” People Bets That Can Trip Up CEOs
According to experts, nearly 50% of executive transitions fail. With a track record like that, it’s no wonder new leaders sometimes resist making changes, especially to existing leadership teams. But playing it safe can be just as problematic as being too aggressive. Follow these guidelines to step out on the right foot: 1) Realize that new business and talent strategies often go hand-in-hand. 2) Look for track records in candidate performance versus impressive diplomas. And 3) build a team that’s diverse in thought, background, and style.
by Elena Botelho, Shoma Chatterjee, and Kim R. Powell on Chief Executive
Why Building a Company to Last and Building a Company to Sell Are the Same Thing
Cigna. Dupont. Colgate-Palmolive. The origins of these companies can be traced back more than 200 years. Want to build a business with that kind of longevity? Follow these simple rules: 1) Don’t take shortcuts. 2) Always make decisions with the long-term health of the company in mind. And 3) implement best practices (like nurturing strong customer relationships and getting certified financials) that will continue to add value to your business and make it attractive to potential buyers—even if you have no intention to sell.
by Norm Brodsky on Inc.
Say Goodbye to the Information Age: It’s All About Reputation Now
In a world where “fake news” seems to run rampant, it’s easy to feel overwhelmed and confused by the items reported in the media each day. Instead of spending endless hours trying to track down the “truth” on the Web, stop and ask yourself these key questions: Is the information coming from a reputable source? Who are the authorities who believe in it? What are your reasons for deferring to those authorities? Taking time to question and assess the reputation of a source will help you ascertain whether the information should be believed.
by Gloria Origgi on Fast Company
Emerging Trends in Financial Analytics
Savvy entrepreneurs know that businesses should invest most of their time in activities that will create the most shareholder value. This idea applies to every area of a business, including finance. Fortunately, social platforms, data science, enterprise mobility, and other tech trends are making it easy for finance teams to focus on high-value activities, such as artificial intelligence, a “crowd-sourcing mindset,” and multi-dimensional graphics, that will drive digital business transformations and create competitive advantage.
by Rob Jenkins on Digitalist