Rob Morris, managing director and general manager of intellectual property at leadership consultancy firm YSC believes CEOs may feel the burden of growth more than other members of the C-suite. He refers to the CEO operating "like an island, despite the stereotypical image of a CEO projecting confidence and stability". A recent study in Harvard Business Review examined how the burden of being responsible for tough business decisions can make a difference. It found that "93% of CEOs require more preparation for the role than they typically get" and are typically unready for the "loneliness and accountability that lies ahead".
A variety of new technology roles could also be aggravating the tension within the C-suite. As a Wall Street Journal article reports, CIOs and CTOs are struggling to "differentiate their responsibilities". The article goes on to say, "With so many roles, even other C-levels may not know where to turn to address a particular IT-related issue or problem. And the overlaps and conflicts may well lead to infighting."
But while it is normal to have differing opinions and views-it is when these conflicts turn unhealthy and prevent the business to stay strong and healthy that it becomes a problem. As Morris says, "conflict in a healthy team climate can lead to more effectiveness, but when the conflict remains hidden, confined to disagreements between only one or two key stakeholders, it can quickly become dysfunctional."
So how can business leaders turn disagreements into opportunities for innovation? Ideas and opinions can be quickly shut down if they lack clear data to back them up. Having access to real-time information and insight can solve this. This means that key business discussions can be based on detailed metrics rather than simple "hunches" or gut-feelings. Senior business executives can then propose new ideas based on facts, changing the conversation from perceived issues and problems to actionable steps designed to promote business growth.
As the Epicor research reveals, it is natural for the members of the C-suite to have different ideas. But it is equally important to be aware that discussions that are based on biased agendas can hinder business growth.
Some CEOs have already noted the positive impact the use of data can bring to ease the burden of managing business growth. The research, which questioned over 1,800 business leaders, revealed that 40% of CEOs agreed that access to information is of very significant importance to them, compared to 34% of CFOs, COOs and CIOs on average. Furthermore, 35% of CEOs agreed that having the right technology has made growth possible. Interestingly, one-in-ten blamed a lack of technology in hindering business growth.
"It's essential to be able to interpret the data you have, and make good strategic judgements based on that data. But alignment of goals and information is key if the use of data is to be effective. Like rowers in a boat, C-suite members need to work together, if they are to make conflict a force for healthy business growth," says Morris.
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