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The 10 Best Performing CEOs Show What It Takes to Be a Great Manager

The 10 Best Performing CEOs Show What It Takes to Be a Great Manager

Often we look upon CEOs merely as the top dogs of organizations who take away the spotlight and the largest share of the rewards, without actually doing anything themselves. They’re thought of as crooked and tyrannical people who focus solely on the benefits for themselves and their organizations without any empathy for their subordinates and customers. Very little of this is true, however. CEOs need to work much harder than any of the subordinates and their job is constantly under scrutiny, more so than anyone else. Of course, they receive their fair share of rewards for this, but not everybody can mentally, physically and spiritually handle being a CEO, although almost everyone aspires to be one.

What does it take to be a CEO, and a very good one? Harvard Business Review released the list of top 100 best performing CEOs in the world for 2014. Now, let’s take a look at the top 10 on the list to discover what unique qualities they possess that set them apart from everyone else. We hope it will serve as something to look up to for all the upcoming CEOs and CTOs of the world.

1. Jeffrey Bezos (Amazon)

After the passing away of Steve Jobs, Jeffrey Bezos has become the leading philosopher/CEO in the tech world. The founder of Amazon.com has had a great role in the growth of e-commerce. He was born in Albuquerque, New Mexico in 1964. He graduated from Princeton University in 1986 with a Bachelor’s degree in computer science and electrical engineering. He started Amazon.com in June of 1995, initially as an online book store. The start-up saw remarkable growth, sales reached $20,000 a week within the first two months.

An important leadership lesson we can learn from him is: “If you want to be inventive, you have to be willing to fail.” In the early days of Amazon, they used to hire editors to write book and music reviews. Later they tried to focus on customer opinions only. This didn’t produce desired results but it was an opportunity for them to learn something. They later started using both. We should never be afraid of failing if we really want to create something new.

2. John Martin (Gilead Sciences)

John C. Martin is the CEO of Gilead Sciences, a bio-pharmaceutical company that focuses on research. He was born in 1952. He holds an MBA from Golden Gate University and a Ph.D from the University of Chicago, but his Bachelor’s degree is in chemical engineering from Purdue University and thus, he is a chemist at the soul.

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What is inspiring about Martin is that he has made it to the top in business, although he is primarily a scientist. It’s generally believed that scientists do not make good managers, but Martin has challenged the norm successfully and inspires others who aren’t primarily educated in business to do the same.

3. John Chambers (Cisco Systems)

John Chambers, the CEO and chairman of Cisco Systems, was born in Cleveland, Ohio in 1949. He started his career at IBM in 1976 as a salesman after obtaining an MBA from Indiana University. His rise from an IBM salesman to CEO of Cisco Systems, one of the largest tech companies in the world, has been an incredible journey.

In an interview with The New York Times, Chambers was asked, “What are the most important leadership lessons you’ve learned?” Chambers replied, “People think of us as a product of our successes. I’d actually argue that we’re a product of the challenges we faced in life.” This is a very important leadership lesson to learn. He frequently quotes Jack Welch, “It takes major setbacks and overcoming those to make a great company.” It’s very important to know that what is needed is not to never fall but to rise every time after falling.

4. David Pyott (Allergan)

Allergan Inc. is a leading health care company, and lot of the credit for that goes to its CEO, David Pyott. Since taking over the Irvine-based medical aesthetics giant in 1998, he has turned it into a five-billion-dollar-a-year enterprise. Pyott was born in 1953 in London to Scottish parents. He has received an MBA from London Business School, an MS from University College London and an MA from the University of Edinburgh.

The essence of his leadership can be encapsulated in his quote, “I never saw the next five steps. I only saw the next one.” Most of us plan for several years down the road, and quite pointlessly. We plan the future assuming certain things to happen at a point in future. But we might actually never reach that point. So remember this wise man’s words and plan for and work one step at a time.

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5. David Simon (Simon Property Group)

David Simon has served as CEO of Simon Property Group for 17 years, and has been with the company for 22 years. He was born in 1962 the son of Jewish-American real estate developer Melvin Simon. He received his MBA from Columbia University and a BS degree from Indiana University. Simon Property Group is the largest real estate company in the U.S.

Simon led the efforts to make the group public with nearly $1 billion initial public offering (IPO) in 1993 and the company has never had to look back. Back then, it was the largest real estate stock offering. What Simon inspires in us is to challenge the status quo and go beyond the point where anyone has ventured before.

6. Lars Rebien Sørensen (Novo Nordisk)

Novo Nordisk is a Danish company established in 1923 whose principal aim was to produce insulin for the Danish population. Now the company exports insulin all over the world and is an unrivaled leader in its industry. Lars Rebien Sørensen, the CEO, was born in 1954 in Copenhagen. He holds an MSc in Forestry from the Royal Veterinary and Agricultural University, Denmark and a BSc in International Economics from the Copenhagen Business School. Sørensen started with the company in 1982, working in the marketing department. He has served as president and CEO of the company since 2000.

The company under Sørensen’s initiative released a vision statement for the company called the “Novo Nordisk Way”, which very much sums up the values of the company and also how the efficacious CEO manages it. The vision of the company focuses on Scandinavian values, emphasizing individual respect for everyone, social responsibility and a sense of duty towards the environment.

7. Hugh Grant (Monsanto)

Monsanto is a Missouri-based multinational agrochemical and agricultural biotechnology corporation. Since 2003, Hugh Grant has served as the CEO of this company, which was founded way back in 1901. Grant was born in Larkhall, Scotland in 1958. He has received a BSc degree in agricultural zoology and molecular biology from Glasgow University, a MSc. in agriculture from the University of Edinburgh, and an MBA from the International Management Centre in Buckingham. He has been involved with Monsanto since 1981, when he worked in Scotland for the then US-based company.

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In an interview with Leader’s Magazine, on being asked about the key priorities of the company to ensure its stature as leader in the industry, Grant answered, “The leadership I hope we can provide at Monsanto is a focus on the success of farmers.” Grant believes that when the farmers succeed, the company succeeds. A leadership should focus on sustainability and providing something of value to the customers rather than accomplishing a few short-term goals. That way, a company can go on to retain customers and grow step by step.

8. J. Michael Pearson (Valeant Pharmaceuticals)

J. Michael Pearson has served as CEO of the Montreal-based Valeant Pharmaceuticals, which was founded in 1960, since only January 2014. However, he has led a remarkable rise of the company within the year and is the eighth-best performing CEO as per The Harvard Business Review. Pearson received BS and BSE from Duke University and an MBA from University of Virginia. He worked at McKinsey & Company for 23 years before joined Valeant as CEO in 2008.

Pearson proves that it doesn’t take much to produce useful results if we do things right. Much of his success has depended upon effective measurement of his sales force. Proper monitoring of the growth of sales activities, which directly correspond to meeting of sales objectives and ultimately the yield of business results, has been his principal leadership style.

9. Mark Donegan (Precision Castparts)

Precision Castparts was founded by Joseph B. Cox in 1953. Mark Donegan has served as the CEO of this Oregon-based industrial goods and metal fabrication company for 10 years, having been with the company for 27 years. Aged 57 years old, Donegan joined the company in 1985 from General Electric Company. He earned nearly $9.7 million in 2014.

The leadership of Donegan at this global leader in aerospace manufacturing has focused on acquisitions and discovering ways to increase efficiency. Rather than creating something on their own, the company takes over other companies who have achieved some level of achievements in their target area. Precision, which is one of two Fortune 500 companies in Oregon, recently acquired Titanium metals manufacturer Timet.

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10. William Doyle (PotashCorp)

PotashCorp is the world’s largest fertilizer company in terms of its capacity. William Doyle, the highest earning Canadian CEO, has served as the company’s CEO since 1999. He has planned to retire in July of 2015 and, by then, he will have overseen remarkable growth of the company and enrichment of its shareholders. Doyle was born in 1961 and is a Georgetown University graduate. The 39-year fertilizer industry veteran initially started his career at International Minerals and Chemical Corporation.

PotashCorp has created a document containing core values and a code of conduct for directors, officers, employees and representatives of the company. The document very much summarizes the leadership style of Doyle. One of the metrics for success has been listed as, “The long-term value we create for our shareholders.” Doyle and the company’s aim has been always to provide something valuable and sustainable for the shareholders as well as the customers of the company.

Featured photo credit: KRISTOFFER TRIPPLAAR/SIPA/AP IMAGES via img.qz.com

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Published on August 4, 2020

How Smart Goal Setting Helps You Make Lasting Changes

How Smart Goal Setting Helps You Make Lasting Changes

SMART goal setting is one of the most valuable methods used by high achievers today to actualize their life goals time after time. SMART goal setting is the inverse of random or carefree goal setting without strategy.

Perhaps, you’ve always wished to get back in shape, get an annuity, or take control of your finances, but you failed to act. When you approach your goals with a care-free and nonchalant attitude, you’re less likely to achieve them.

You should have a strategic goal setting method in place, and learning how to set smart goals is imperative in this case. The method is time-tested and purposeful, meaning it can help you achieve your goals now.

To achieve your goals consistently and join the pack of high achievers out there who have consistently achieved many of their goals, you must be prepared to do what these people have been doing, and be ready to do the right thing: SMART goal setting.

What Is the SMART Model for Setting Goals?

SMART goal setting is a goal-setting method that considers certain factors about a goal relative to the person setting it. These factors are simply the five different letters in the SMART acronym for goal setting.

It is relative to the person setting the goal because what is true for A may not be true for B; or what is possible for A or within A’s ability to achieve may not be possible for B or within B’s ability to achieve.

What does the goal setting acronym SMART stand for?

  • S—Specific
  • M—Measurable
  • A—Achievable
  • R—Realistic/Relevant
  • T—Time-bound

Is it possible that this acronym can make a long lasting impact in your life?

Is it possible that a mere goal setting metric like SMART can help you achieve so many of your unfulfilled goals?

Is it possible that if you practice SMART goal setting, you will be able to have faster results, understand your goals better, overcome the habit of procrastination, and achieve a lot?

The power to achieve your goals is in your hands.

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It is important to extend the inquiry by asking: How many times have you said you’ll do “X,” but failed to do so?

We all have goals, and we all have 24 hours each day at our disposal. While some people find it easy to achieve their goals without procrastinating, some find it difficult to do so.

For some people who have succeeded again and again in achieving their goals, they have simply found an easy way of doing this. Is there something they know that you don’t?

How Smart Goal Setting Makes a Lasting Impact

Smart goal setting examples can be found all around you. Through SMART goal setting, Stephen Cooley was able to grow his real estate business to the point of closing at $110 million in sales when the average price point of homes was between $100,000 – $200,000 in South Carolina[1].

Through SMART goal setting, Steve Jobs was able to improve the fortunes of Apple and prevent the company from going bankrupt, even when it had barely 90 days left before being declared so.

SMART goal setting can make a lasting impact in your life in several ways.

Make Your Goal Clearer

When you use the SMART criteria to set goals, it is easier for you to understand the various phases of your goal.

By using SMART goal setting, you’re able to ask yourself relevant questions pertaining to your goal.

Motivate You Into Acting on Your Goals

When you use SMART goal setting and break down the goal into smaller goals or milestones, the bigger goal no longer looks intimidating or impossible.

Jack Canfield, co-author of Chicken Soup for the Soul, wrote in his book How to Get from Where You Are to Where You Want to Be about how they applied the rule of five in marketing their book, Chicken Soup, and were able to make the book a best seller after some months[2]. The rule of five simply means doing five specific things every day that will move you closer to achieving your goal.

In order not to be overwhelmed, you would have to measure your performance using the right metrics. Here we are considering the Measurable and Achievable aspects of the SMART acronym. It is critical that you measure yourself in terms of lead measures.

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What are lead measures? They are the things you do that leads you closer to your goals. On the other hand, you would have to avoid “lag measures.”

While lag measures mean a successful outcome that you wished for and got, they can be emotionally draining and deceitful because, whenever they don’t happen, you can become discouraged.

Therefore, it is better to stick to lead measures.

Help You Save Time

You can achieve more when you use SMART model goal setting.

To be strategic, your goal would have to be specific, measurable, achievable, realistic, and time-bound. If you can’t identify any of these points in your goal, you probably will be wasting your time on a wild goose chase.

When your goals are written down, it’s easier for you to go into action mode.

Improve Your Self-Discipline

Self-improvement is an important thing for everyone to do periodically. When you set SMART goals, it makes you realize that you have to sit up and work on achieving them.

How to Set SMART Goals

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    To make your SMART goals work, use the following tips:

    Specific

    Every goal ought to be specific. It is important to guard against making vague goals because even when they have been achieved, you may not know. This is because you weren’t specific enough.

    For example, “I will start planning toward retirement” is vague. Rather than write that, you could say, “I will start planning toward retirement by starting an annuity plan.” This is more specific.

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    When you are specific on your goal, it’s easier for you to identify all its components and work accordingly toward achieving it.

    Measurable

    Your goals must be measurable. When they are measurable, it’s easier for you to follow through.

    A goal like this is not measurable: “I want to make millions of dollars.” You can make it more measurable by saying, “I want to make one million dollars selling one hundred thousand copies of my book at ten dollars each.”

    Also, using our SMART goal setting examples while explaining the Specific acronym, you can make the goal more measurable by saying, “I will start planning toward retirement by starting an annuity plan and saving $500 every month.”

    Achievable

    How realistic or actionable is your goal? Is it practical enough to fit into a given time frame? Is it something you are able to achieve in your capacity?

    You would only be setting yourself up for failure if you sets goals that are not reasonable.

    A goal like this is highly unrealistic and, therefore, not achievable: “I want to be the Governor of Texas in six months,” especially since the elections will be coming up in three years.

    Goals must be written down relative to the experiences of the one setting them. They must resonate with you. It is important that you have at least some of the resources needed to actualize this goal.

    It is also important that you consider your time frame. When the time frame to achieve a complex goal is too short, it is rare that such goal will be completed.

    Thus, using our previous example, if you write “I want to make one million dollars in ten days selling one hundred thousand copies of my book at ten dollars each,” you would only be setting up yourself for failure.

    This is especially true if you’re not a popular author or if you’ve never sold even up to one thousand copies of any of your previous books, whether e-copy or in print.

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    Realistic/Relevant

    Before you proceed to making the commitment toward that goal, you need think about how realistic and relevant it is.

    Being realistic means you should be willing to make all the commitments required for that goal to be achieved. If your goal is relevant, it fits into the life you’ve imagined for yourself.

    Time-Bound

    Every goal must have a commencement date and an end date written down. It is also important that you break down your goals into phases, chunks, bits, or milestones.

    The act of having deadlines set to your goals is ample motivation that drives you into action. Without a deadline, it is not possible for you to know if you’re making headway with your goals.

    “I will start planning toward retirement by starting an annuity plan and saving $500 every month for the next twenty five years” is a time-bound goal.

    Remember that some goals are short-term while some are long-term. It is important to always bear this in mind, because this will help you in making a clear and realistic strategy when SMART goal planning.

    Without SMART goal setting in view, much of our goals may likely end in our minds, on paper, or just midway into implementation. SMART goal setting reveals to us all the action points of our goals and helps us to have an awareness of every aspect of our goals.

    The Bottom Line

    What matters at the end of the day is what you do with the contents of this article because the power to achieve your goals is in your hands.

    It is not enough to have a goal. It is not enough to put it down in writing. It is important to have a strategy in mind while putting it down. This strategy is a guideline or set of rules that point you in the right direction. It is SMART goal setting in the given circumstance.

    After writing down your goals, you will have to be ready to take action. There should be a clear action point. Write down what you need to do on daily, weekly, or monthly basis.

    When your goals are realistic, they make them worth the chase. One of the things to bear in mind is that, in order not to be overwhelmed by the daunting nature of your goals, remember to always break them into milestones, chunks, or bits. In fact, take one day at a time.

    Do not bother yourself with the one-year, three-year, five-year or ten-year plan as this may likely overwhelm you with fear and doubt. Let your focus be on each day. What will I be doing today? Consider this and go for it.

    More on the SMART Model for Setting Goals

    Featured photo credit: Kelly Sikkema via unsplash.com

    Reference

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