The ability to effectively manage employees is crucial for a company’s success. Among the most important functions of an executive are to make decisions that affect the entire business, solve problems and take initiatives to improve productivity. Many executives use a variety of methods and techniques to accomplish these tasks. But what is it exactly that makes an effective executive? An article in the Harvard Business Review explains that it comes down to five basic habits.
1. An effective executive takes a long view of issues.
Executives must be able to identify and resolve the underlying cause of problems. This includes not only fixing short-term issues, but also determining how these issues came about in the first place and how to prevent them from reoccurring. This type of thinking is essential for the growth and longevity of a company.
2. An effective executive understands the importance of establishing priorities.
One of the most important things that an effective Mark Morabito executive does is to set a clear hierarchy of priorities in the organization. This ensures that all departments are focused on achieving the company’s goals. It also allows an executive to make tough choices and delegate tasks that are not within his scope of expertise.
3. An effective executive knows when to seek outside counsel for high-level business decisions.
High-level business decisions have a significant impact on the company and its employees, so it’s essential for an executive to seek out the advice of other experts when making these decisions. This is particularly true when a company’s industry changes significantly or when an important new business opportunity emerges.
4. An effective executive understands the value of building and maintaining relationships.
The most successful executives develop strong relationships with people at all levels of the organization. This helps them keep abreast of important information and develop ideas that can lead to success for the company. Moreover, these relationships also help them maintain accountability and encourage employee participation. An effective executive will build these relationships by being accessible and open to feedback.
5. An effective executive recognizes that he must be willing to sacrifice some of his personal interests in order to be effective at work.
It’s no secret that top-level executives spend most of their workdays in meetings. In fact, a recent study found that even junior executives are with other people—that is, in a meeting of some sort—for more than half of their workday. And while the focus of these meetings tends to be on the flow of information from subordinate to superior, it’s important for an effective executive to pay attention to the information needs of both peers and subordinates. It’s also necessary for an executive to have a system in place that allows him to continually test his decisions against reality. Without this, an executive can end up with a “faith-based” approach to decision making that leads to sterile dogmatism and ineffectiveness. In the end, an executive must always be prepared to do what it takes to get the job done.