Fred Wilson is known in the tech world and venture capitalist world because he has been very involved in both for many years & posts lots of content on his personal website, or blog.
Today he has a great post in a series titled MBA Mondays about the role of a CEO.
It tells of the basic criteria that he evaluates CEOs on:
“A CEO does only three things. Sets the overall vision and strategy of the company and communicates it to all stakeholders. Recruits, hires, and retains the very best talent for the company. Makes sure there is always enough cash in the bank.”
I tried to shorten that and not lose any meaning, with no great success.
Any organization will falter or fail if someone does not fulfill those three tasks, and they really are keys to success.
Another way to look at it is:
- promote where we are going – general direction
- get the right people on the bus
- make sure the bus does not run out of gas
As far as “all the other stuff that a CEO could do†… that is addressed in the post, and I agree.
Thanks to Fred Wilson for taking the time to share his thoughts to others.
