The Boston Consulting Group assessed the tenures of 450 CEOs in the U.S. and Canada who began their tenures between 2009 and 2011. Their analysis found that only 18 percent of these leaders ranked in the top tier of performance.
“In our study, the criteria for success were grouped under three broad headings: great company, great stock and great legacy. Great company relates to improved competitive position and business economics. And great stock relates to delivering strong total shareholder return,” said Gerry Hansell, a senior partner at Boston Consulting Group and the study’s lead author. “Great legacy is more subjective and relates to the company’s future prospects. To meet all of these criteria is no easy task, but CEOs who draw on our five success factors consistently and harmoniously will certainly improve their chances.”
Here are the five key factors the study’s authors found for success:
1. A fact-based, clearly defined strategic narrative.
2. Interactions with stakeholders that respect but also reshape their expectations.
3. Incessant organizational mobilization that reinforces company values through extended communication with the leadership team.
4. A long-lasting positive imprint.
5. Competitively advantaged strategic moves that challenged but don’t overwhelm the workforce.
More articles on leadership and management:
HHS issues RFI on potential innovation, investment workgroup
What do healthcare, capitalism and a nun have in common? They’re all topics on Dr. Alan Pitt’s podcast, ‘Healthcare Pittstop’
Erlanger CEO sued by physician claiming he ignored discrimination issues for 5 years
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
