Non-Strategic CEOs Weaken Businesses
Two articles this morning underscore my very strongly held belief that strategy is the most powerful management tool there is. The justaposition of these two articles infers that non-strategic CEOs weaken or even destroy their businesses.
The first article is from HBR, “Strategic Insight is Not on the CEO Radar“. It tells us that for most of a number of recently surveyed CEOs, “…creating the ability to generate strategic insight…was not considered to be a top ten priority.” Wow.
The second article is from today’s Globe and Mail, “RIM’s Marketing Challenge: Revive the ‘Crackberry’ Addiction“. In it, the newly-hired CEO, Mr. Thorsten Heins, says that one of his key priorities is to hire a new chief marketing officer (CMO) and “focus more on consumer marketing.”
This will merely lipstick the pig and investors, who have been abandoning RIM stock for months, know it. The new CEO’s insistence on staying the strategy course has caused investors to leave even faster.
Mr. Heins must understand that the current strategy has caused RIM’s slide and won’t reverse it. He should immediately muster the courage to thoroughly re-think RIM’s business strategy. This new strategy, by definition, must be sharply different from Apple’s or anybody else’s. Without a new strategy, hiring a new CMO to pursue consumers is simply riding out to battle stronger foes on their turf. You might win, but it’s not very likely.
What about you? Is strategy among your top ten priorities?