I came across the following quote in the most recent edition of Becker’s Hospital CEO Report:

“[CEOs] only make about five real decisions a year and if you make three of those decisions right you are going to be successful. But the challenge is recognizing those decisions.”

– Edward Howell, President and CEO, University of Virginia Medical Center

It got me thinking about my role as CEO of The Bailey Group and also about the CEOs I am privileged to work with. Specifically, it got me thinking about the decisions that I and they have made this year that might qualify as one of those “real decisions”.  Obviously, confidentiality prevents becoming too specific, but the tough decisions seem to fall into consistent categories:

– Strategic decisions regarding entering and exiting businesses

– Decisions regarding major investments in technology

– Decisions regarding the composition of the Senior Team, in particular when a team member must   be asked to leave the organization

– Decisions related to reducing expenses to better reflect current reality related to revenue and profitability

– Decisions regarding the values and culture of the organization

The best CEOs, in my experience, understand that these are decisions that the organization holds them responsible for making. This does not mean that the CEO makes the decision without consulting her Senior Team and her advisors. But at the end of the day, there are some decisions where consensus cannot be reached and the CEO needs to make the call, with urgency and absolute clarity.

The consequences are serious when CEOs fail to take responsibility for these leadership decisions. Team members become frustrated. Execution slows. Innovation and collaboration are stymied. High potential employees leave. Transformations fail.

One of our clients commented last week that the most important thing he has learned from his Bailey Group CEO Advisor is to make decisions with urgency. If you are a CEO challenged with uncertainty and facing decisions that must be made with urgency, clarity and confidence, perhaps a CEO Advisor from The Bailey Group can help. Call 763-545-5997 and ask for Michael Kithcart or Leigh Bailey. It could be one of the best CEO decisions you make this year!