Critical Leadership Knowledge

Question – Is there critical knowledge we should have, or be developing, as leaders that would help us be and stay successful? What would a knowledge strategy look like?

One of my business colleagues recently retired after serving in seven chief executive positions (primarily turn-arounds) and 27 years in leadership consulting in family businesses. We worked together for several years, so I had ample opportunities to “compare notes.” One topic that we had numerous conversations about: repetitive failures because the business grows but the leaders don’t. It’s the leadership and operations know-how that enables the business to thrive in an increasingly competitive marketplace. Business practices cannot be allowed “to go stale.”

My colleague called himself a teaching CEO. When recruited to a new CEO position, one of his first tasks was to evaluate his leadership team and the extent to which they were embracing core best business practices. His findings guided him to two initiatives: (a) replace those who would not fit into an aggressive learning environment, and (b) start intensive coaching to get on the path of operations improvements to enable the people and performance to keep getting better. A path to core best business processes was developed as well as an action plan for implementation. They particularly focused on where they needed to be in 2-3 years with each core practice as part of their strategic planning process.

In Jim Collins’ book, Good to Great, he described “Level 5” leadership that is needed to lift a company’s performance from good to great. Collins summarized the two main characteristic of a Level 5 leader needed to support the move to “great” as (a) compelling modesty and (b) unwavering resolve.¹  This is the kind of leadership needed to achieve great business results. The Academy of Family Business has the knowledge, curriculum and coaches to help you become a Level 5 leader. To learn more about great performance, visit us at: info@myAFB.org