Is Your Business Ready to Refocus Its C-Suite?

Refocus the C-Suite
The new age of CXOs are innovating within their organizations to ignite growth

Editor’s note: This article concludes a multipart series on the 6Rs

The world is changing faster than ever before and today’s small business executives must think holistically and act personally to stay ahead of the curve. Making this a reality requires organizations to refocus their approach to the C-Suite. New titles for CXOs such as chief of reason, chief resilience officer, chief of reputation, chief revenue officer, chief relationships officer and chief rouser will open the door to innovation like never before.

 

 

Problems with the Current C-Suite Model

The conventional structure of our organizations and management teams was well suited to many of the challenges of the 20th century, but not today’s world. For example, a focus was needed on marketing and customer service, so companies appointed a chief marketing officer. Financial skills and management expertise are clearly vital, hence the rise of the chief financial officer. And when it comes to the black art of managing people, the chief people officer (HR director) takes responsibility.
However, this approach has always had one major flaw, and now another problem has evolved. The perennial problem is that the responsibility for delivering to customers doesn’t rest on one individual or even one department. It has never been solely the responsibility of the CMO. Rather, everyone works in service of current and potential clients.

Similarly, when managing people or finance, having one person who has the necessary skills and is working constantly to improve his area of the company is great, but these advantages are outweighed by the benefits of holding everyone responsible for important issues. Or, to put it another way, the mere presence of a CFO means that some people can choose to neglect their financial responsibilities, safe in the knowledge that the CFO and her team will provide cover.

Another problem with this approach has been present for a while and has recently become acute. Appointing a CFO, CMO, COO or any of the conventional C-Suite members is too internally focused and fails to take into account the changes necessary to accomplish the following:

• Think holistically and recognize that issues cut across these functions
• Act personally and take responsibility for improving the organization and delivering its strategy or goals
• Refocus everyone in the organization on six vital issues: the 6Rs

Renaming the C-Suite is vital not only because of the external changes shaping the world in which we live, but also because of the need to understand the big picture and balance this with a practical, execution-oriented approach that reflects the desire for strong, capable leadership.

RELATED POSTS

4 Definitive Examples to Understand and Serve Your Customers

4 Definitive Examples to Understand and Serve Your Customers

These four company case studies have yielded success across industries Running on Innovation, A New Solution for City Dwellers, Focus on Customers. Learn from these companies that are doing it right. Recently, I attended a public forum called Healthcare in the 21st...

4 Components of Small Business Agility in a Diverse Market

4 Components of Small Business Agility in a Diverse Market

Small business leaders need to understand diversity in order to be connected and create opportunities for success   The model of how to effectively navigate business leadership is changing. For decades stability and homogeneity were hallmarks of business across...

Top 7 Ways to Show Your Customers You Care

Top 7 Ways to Show Your Customers You Care

Even a small gesture can go a long way with a client and will be appreciated.   Nowadays, having a good product or service isn’t enough. Relationships are the differentiator. Today many companies are making investments in customer advocacy and loyalty programs...

Video Gallery

Modern version of Stoic philosopher Epictetus
A professional leads a cybersecurity training session for employees, emphasizing best practices. The photography captures the engagement of participants, showcasing the educational aspect of safeguard
Hispanic bearded male businessman trainer teaching coaching new recruitment African American female businesswoman employee in formal suit sitting studying learning company graph chart strategy
The presence of a robot using a computer. Office keyboard being typed on by machine. future IT group,.
Latino Streetwear Entrepreneur Latin Biz Today
Chef Lorena Garcia cooking with a wok
Latina Chef Loren Garcia
Latin Biz Today partner Johanna at the San Sebastián Festival

Polls

Which item currently represents the greatest hurdle in the growth of your business?(Required)

Sign Up for the Latin Biz Today Newsletter

PR Newswire

Featured Authors

Innovation & Strategy

Money

Four Basic Principles for Raising Capital

Four Basic Principles for Raising Capital

Outside investors want to understand a business' strategy as well as its financial statements.   The need to raise capital from outside investors requires a great deal of preparation across multiple dimensions. Among many things, investors look to understand...

Talent/HR

Legal

Marketing

Culture

Fashion

Food

Music

Sports

Work & Life

Mindfulness

Health & Fitness

Travel & Destinations

Personal Blogs

Pin It on Pinterest