One of the CEO’s greatest challenges is the ability to respond to change. Change is inevitable, particularly as companies endeavor to keep pace with technological advances. Seventy-five percent of business leaders say their organizations require “substantial or extensive change” to become more digital and remain or become competitive in today’s world.
Capital One responded to this shift back in 2016. Already among the first in banking to implement Apple’s Touch ID biometric software, the company leveraged Amazon’s voice technology to enable customers to transact business through Echo. This is just one example of how Capital One continuously reinvents itself. In this case, they stayed ahead of technology and consumer trends by being an early adopter of tomorrow’s most exciting innovations.
An organization that’s adaptable stays competitive. It better serves customers and ensures continued growth — that is, as long as the CEO drives change as the company’s “chief change officer.” In my 25 years of advising boards and CEOs, I’ve observed countless successes and failures, and the successful CEOs have a very similar approach.
In October, former Google Talent Chief Laszlo Bock will keynote Chief Executive’s CEO Talent Summit at West Point, sharing exclusive insights into what makes great teams, and great leaders. Click Here for event information.
If you want the benefit of this collective wisdom, do these five things:
No matter what industry you’re in, change is the only constant. If the company is your ship and change is the weather constantly threatening its ability to get where it needs to go, your job as CEO is to inspire the right people to join you, share your vision of where you’re going, and encourage everyone to give their all to the effort. By doing these things, you will be the one to navigate through the inevitable storms.
Related: How To Help Your Senior Team Rediscover Its Core Purpose
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