Role of SME CEO / MD
Many SMEs become a “one man army” where the Owner /CEO /MD gets himself / herself involved in every little decision and action. Even worse, some end up micro-managing all staff. One major reason is that the role of CEO / Owner / MD’s role in not fully understood. Instead of creating a shared purpose, articulating values, formulating a strategy, building a business model and developing a passionate team, most SME Owners rely on their own skills and technical knowledge to run the business. There is a severe need in SMEs to redefine the role of the Owner/MD.
Key Responsibilities of an SME Owner / CEO / MD:
- Mission & Vision:
- First, set company mission and create a vision of future.
- Values & Culture:
- Second, put foundation of a values driven culture. Explicitly articulating beliefs and expected behaviors.
- Corporate Strategy:
- Third, to formulate a competitive strategy aligned with the company mission and vision.
- Business Model:
- Fourth, to build a business model that reinforces the strategy. Following are the building blocks of a business model:
- Building a Team:
- Fifth, build and retain a team of talented, passionate, humble and resilient, and committed team.
- Performance Management:
- Sixth, Practice Differentiation. Foster a culture of meritocracy based on a fair performance management system.
- Learning Organization:
- Seventh, make “learning a new way every day” a way of life in your company.