A skilled, talented, and knowledgeable CEO is vital for any business organization. They are the ones responsible for setting the vision and strategy of a firm, and positioning it on a nation, or even global scale. Ram V Chary points out that the primary focus of a CEO should revolve around developing and championing the core growth strategies of a firm. Mr. Chary is the former President and CEO of the Everi Holdings Inc., and hence has a good knowledge about what the actual duties of these professionals actually entail.
Due to the huge responsibilities lying on the shoulders of a CEO, it is crucial for them to have certain important qualities and characteristics. Ram V Chary points out that becoming a CEO is not at all easy. It, in fact, takes a great deal of consistent dedication and hard work. There are a few qualities that CEOs must strive to excel in to take their company to new heights of progress, and well as level-up in their careers. A good CEO would be a person that has the capacity to juggle multiple critical duties at once, while holding his position as a trusted and respected decision-maker.
While there are many qualities that a good CEO must have, according to Ram V Chary, their top skills should be:
- Foresight: This implies to have critical thinking in regard to future planning and possibilities. CEOs have to deal with a lot of money, investors, and business decisions every day, and often all at once. Having the capacity to effectively forecast what could happen in a few months within the organization would help them to prepare for the possible outcomes, and subsequently, reduce the chances of any losses being witnessed by the enterprise.
- Adaptability: The world is constantly changing and evolving, and so is the business landscape. To meet up with the ever rising competition levels, it is vital for business to keep pace with circumstances around them. CEOs are the ones who have to steer a company successfully through these changes, and hence it is vital that they have high adaptability. They must keep themselves up-to-date with the latest business trends, and be proactive in incorporating them into their company. They must also be prepared to deal with any loss faced by a company due to these changes, such as the frustration of board members about declining revenue.
- Reliability: All good employees have to be reliable, no matter their ranking. However, this quality is doubly important for CEOs, as if they lose their reliability, then they may end up losing the trust of their employees and the board of directors. Hence, CEOs must always try to be as transparent with their decisions as possible, and always prioritize and deliver on commitments.
In the opinion of Ram V Chary apart from the qualities mentioned above, a good CEO must also have good communication skills and the ability to learn from past mistakes.