Being a CEO comes with a lot of responsibility, hard work, and dedication. It also takes a lot of patience because the demand of the position is so high. That’s why a large number of CEO’s are not successful, and those that are, only build success for a short period of time. Did you know that forty percent of them last on the job for only two years? This is an extremely low number and it could be because of a variety of factors. I’ve come to the conclusion that there are a number of different reasons why CEO’s fail. The following are fifteen of the most common ones that I have come up with:
- The CEO is lacking integrity
- A lot of CEO’s have issues with bridging the gap between strategies and results
- Most CEO’s will not engage their organization in their business strategy
- They don’t look at the big picture
- Lack of understanding the market around them
- Groups or divisions misinterpret strategy as it relates to them and goes off in different directions.
- They don’t involve their team rather try to be involved in every situation which is bigger than anyone can handle
- Employees are not allowed to free-think but are force fed ideas
- Not adhering to their budget
- Lack of passion for the present company or where it can go in the future. This is a huge sign of being burnt out
- They take their eyes “off the ball” and are distracted from leading the company. An example of this may be a potential acquisition
- CEO’s often forget to stay connected with customers. Strategic accounts can feel slighted without high-level attention.
- CEO’s just run out of new ideas or their ideas are old. This leads to them failing in a short amount of time.
- The CEO doesn’t fit the culture of the company that often leads to the CEO trying to change a successful business culture to that of their own.
This isn’t an easy job, It takes strategy, patience, the ability to work well with others, adaptability to rapid change and so much more. I hope reading this gave you some insight on why they fail. I would welcome any feedback you would be willing to give. Please also let me know if there is a topic you would like me to discuss in the future!