1: “Most companies don’t execute well,” says JPMC CEO Jamie Dimon. “This is about execution and getting disciplined, like it’s exercise. It’s about getting to the specifics, looking at the right measures and making the right decisions.”
Yesterday, we looked at the importance of metrics and analytics. The next important lever is leading team meetings. It starts with setting expectations for attendance.
“Unless you’re in the hospital or something, you’re there,” says DuPont CEO Ed Breen in CEO Excellence by Carolyn Dewar, Scott Keller, and Vikram Malhotra.
Being present is step one. But Westpac CEO Gail Kelly wants her team to be 100% present as well: “I don’t let anyone look at their mobile phones or go in and out of meetings. We push ourselves to talk about difficult subjects in those meetings and that means everyone has to be engaged.
“We literally have a toy elephant sitting on a side table—the elephant in the room,” she shares. “Whenever there is tension, we put the elephant in the middle of the conference table and say, ‘All right, there’s an elephant in the room. Let’s talk about the elephant in the room.’ ”
2: JPMC’s Jamie Dimon believes the CEO must set the tone. “I always read the reports, so I’m completely engaged,” he shares. “I read a tremendous amount over the weekends and I make a list of questions. ‘Why are we losing money in a certain area? How come we spoke about adding 500 bankers and we’ve only added 100? Why is our attrition fifteen percent and not eight percent? I’m usually a little frustrated—why didn’t someone ask this question before I did?”
He wants his team prepared in advance. “Very rarely do I allow a presentation. It’s all pre-reads and recommendations. We prepare in advance so that we’re using meeting time to make decisions.”
Galderma CEO Flemming Ørnskov takes a similar approach: “I really prepare for meetings, and make sure the agenda is tight and focused. I read the pre-reads, I think about it, I start and finish meetings on time. All meetings start and end with a recap of action items and follow-ups. And I think that discipline is something people observe.”
3: The best CEOs alter their approach to fit the situation. “In areas that are running well with great leaders who understand the vision, they’re going to get a lot of independence,” says GM CEO Mary Barra. “In areas that we’re transforming, I’m more involved. I’m making sure the organization moves with them and works to remove roadblocks.”
The key is to have “a well-designed operating rhythm [that] connects strategy and tactics in a synchronous way that allows the CEO to know what’s happening and to get involved where it matters most,” Carolyn, Scott, and Vikram observe.
“Where things are going well,” says Adidas CEO Kasper Rørsted, “I’m not really interested in interfering. In those areas, the conversation is about where we’re going, whether we’re hitting milestones and strategic implications.
“But where things aren’t going well,” he notes, “then I have very operational-related reviews with the relevant people where we dig down where the problems are. We’ll figure out a plan, and I’ll hold them accountable to deliver on it.”
More tomorrow.
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Reflection: Some questions to ask: Do I connect dots for people, orchestrate the right interactions, and roll up my sleeves as needed to ensure progress is being made in priority areas? Are discussions characterized by both data and dialogue and do decisions get made in a timely manner? Have I created an efficient and effective annual operating rhythm of meetings? Does every one of my team members have the right aptitude and attitude? If not, am I courageously acting fast but fair to remediate the situation? If an outsider came in, would they keep this team—and if not, does it mean we’ve grown too close? Does the team do only the work that it can do when it meets, or is team time spent on low-priority things that could be done outside the room? Am I investing methodically in team building?
Action: Journal my answers to the questions above.