It is, as we have said before, important that the owner/MD/CEO of a business is focused on strategy and leadership, but this can be a very lonely place.
There is also the danger of becoming isolated or out of touch if the position prevents people from offering ideas and input into strategy development.
So how can a business leader stay in touch and where can they find support?
The traditional way is to look outside a business for support; however there is another source that might be considered.
There is an inspirational example in Paul Walsh, the former CEO of the drinks company Diageo. He used to pretend that he was not the boss and ask other executives what decisions should be taken.
The purpose was to encourage them not only to have the confidence to speak up when necessary but also to question him when they had more knowledge than he did.
This is a great example of a business leader involving subordinates in strategy development. It achieves a number of key objectives for any company; it builds a sustainable long term business by accepting input from everyone; it develops managers and prepares them for leadership; it establishes a culture of valuing people and their role in shaping the future; and it ensures that a CEO/owner does not become isolated.
Please share other examples of best practice by leaders who have inspired you.
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