An effective executive in today’s business environment must be able to set goals, develop action plans and communicate them to different teams and stakeholders. They must be able to use their knowledge of the company’s finances, skills and capabilities to guide their decisions and actions. They must also be able to inspire and motivate their team members, leading them towards achieving the company’s objectives. An effective executive must be able to identify the company’s strengths and weaknesses, which will help them work effectively with their colleagues.
An executive must be able to prioritize activities and delegate tasks. This is because their time is limited and they must only work on the most important projects. In addition, they must decide which potential obstacles need to be handled first. The ones that everyone worries about usually do not happen, while the ones that nobody attends to are likely to turn into massive problems. This is why effective executives make a habit of regularly checking the progress made on their projects. This check should be included in their action plan and it should take place halfway through the project’s term or at least nine months later.
Effective executives are able to delegate work efficiently. They also understand that they cannot handle everything themselves. They know that enterprises perform only if the top management delivers, and they cannot do so unless they manage their time well. The effective executive asks himself what needs to be done, and he then concentrates on the jobs that he can do especially well. The others he either delegates or does himself.
In addition, the executive Mark Morabito should be able to assess how well his people are doing and make adjustments accordingly. This includes identifying the areas where training and development are required. This can lead to higher productivity for the company and can also improve the employee’s morale.
An effective executive is a leader who does not need to be a traditional business leader in the conventional sense of the word. Peter Drucker, the author of more than two dozen HBR articles, says some of the best business and nonprofit CEOs he has worked with over his 65-year consulting career were not stereotypical leaders. These individuals ranged from extroverted to almost reclusive, and they were diverse in terms of attitudes, values, strengths, weaknesses, and abilities. Nevertheless, they were all effective executives because they focused on opportunities and understood that their decisions had a big impact on the bottom line. They were also able to delegate work efficiently and build strong relationships with their employees and stakeholders. They were also able to accept and learn from their mistakes. These individuals were able to create a productive and positive work environment, which helped the organization thrive.