111. Leadership lessons from the world’s best CEOs. Ep 2
Feb 15, 2022
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Scott Keller and Carolyn Dewar, senior partners at McKinsey, co-lead the CEO Excellence practice alongside Vik Malhotra, a former chair in the Americas region. They dive into the essential role of cultural management, likening it to financial strategy, and discuss how top CEOs cultivate a unified cultural vision. The trio shares insights on evolving leadership mindsets post-pandemic, emphasizing resilience and 'stagility.' Personal anecdotes highlight the importance of humility, authenticity, and trust in effective leadership.
Resilience enables exceptional CEOs to learn from failures, adapt to challenges, and empower their organizations for lasting success.
Top CEOs strategically manage organizational culture as a competitive advantage, emphasizing growth mindsets and measurable actions to foster alignment.
Deep dives
The Power of Resilience in Leadership
Resilience is a critical trait that exceptional CEOs possess, allowing them to navigate challenges and learn from failures. Successful leaders often reflect on their experiences, separating themselves from setbacks and leveraging these lessons to foster growth. This ability to bounce back and adapt is supported by the rapid cycles of learning and reflection that many CEOs undergo throughout their careers. By embracing resilience, leaders can empower their organizations to achieve lasting success through adversity.
Treating Culture as a Strategic Priority
Top CEOs recognize the significance of organizational culture and approach it with the same discipline applied to traditional business metrics. They emphasize the importance of managing the so-called 'soft stuff' rigorously, understanding that a strong culture can serve as a competitive advantage. For instance, leaders like Satya Nadella at Microsoft prioritize a singular growth mindset that is consistently reinforced through measurable actions, demonstrating that cultural elements can be defined and pursued strategically. This focus on a single cultural theme helps create clarity and alignment within the organization.
Evolving CEO Strategies Post-Pandemic
The pandemic has reshaped the expectations of the CEO role, highlighting the need for agility and responsiveness in a rapidly changing environment. Many CEOs learned the importance of connecting with their peers and realizing the value of collaborative learning during challenging times. Additionally, there is a growing recognition of the necessity to balance bold decision-making with the well-being of their organizations and employees. As leaders adapt to post-pandemic realities, they are expected to continue embracing multi-stakeholder approaches and fostering inclusive cultures.
In the upcoming book, CEO Excellence: The Six Mindsets That Distinguish the Best CEOs from the Rest, three McKinsey senior partners offer leadership lessons from 67 CEOs of some of the world’s most successful companies. In this second episode, we discuss culture, managing stakeholders, and how the pandemic has impacted the CEO role. Carolyn Dewar and Scott Keller, who co-lead McKinsey’s global CEO Excellence practice, are joined by Vik Malhotra, former chair of our firm’s Americas region.