I have been in the tech ecosystem for quite sometimes now and I have, all along, seen how business organisations start to crumble, immediately the CEO of the organisation steps down from the day-today running of the organization, or meets with an unfortunate ailment that restricts his/her activities, or, death.
The growth of an organisation depends on the kind of leader that is steering the affairs of the organisation.
If the organisation grows, one of the reasons is because, the leader was able to galvanize and effectively use all the resources at his /her disposal.
If the organization, eventually fails, the leader must, also, take the bulk of the blame, as he/she, calls the final shot.
Once in a while, business organisations, do undergo some changes and sometimes, the changes may require new leadership.
This might happen, because the incumbent leadership, may lack the right skill set, to lead the organization, to the next level, or, it may just be the right time, for the CEO, to step down.
The period, when an organisation’s leadership is, transiting, from an existing CEO, to a new one, will always be a defining period in the organisation’s fundamentals, culture, values and futurE.
There is a high probably that, the new CEO, will have to deal with some lingering issues, (if there are any), that has been limiting the growth of the organisation.
Most high networth business organisations, like Microsoft, Apple, Walt Disney and a host of others had, at one time, or, the other, experienced leadership changes, which has gone on to affect the organization, positively.
It is, highly, important to note that, as a CEO, there are some specific plans that you must put in place, before you step down from your position.
Failure to do these, may trigger the slow death of the organisation, after you have stepped down.
Below are some fundamental things, every CEO must do, before passing on the leadership baton, to another individual:
Clearly define your culture
It is very important that you build a strong and well thought out culture that, you know will stand the test of time and stay relevant, even, when you have left.
A strong culture, defines the organisation and it is that, footpath that, other CEOs after you, will tread on because, it is what, really, keeps the company standing.
It should be in writing and ensure that, every worker in the organization, knows about it.
There is, a huge difference, between culture and strategy, but they are both, extremely, important in an organisation.
It ensures that, everybody works with a common goal, geared towards the growth and profitability of the organisation.
Culture and Business Strategy should be, in perfect equilibrium
There should be a synergy, between the organisation’s culture and business strategy.
The absence of one, will slow the growth of the organization, which may accelerate the death, of the business.
It is, highly, essential that, you drum this, into all the staff.
Test and Teach as you slowly pull back
It is essential that, before you step down, you should become more, of a teacher and your staff, students.
Pour into them, all that you know and how you built the company.
Share with them, all the challenges you encountered and how you overcame them.
Open up and tell them, your dreams and aspirations, for the organisation.
The more you share these things with them, the more they will be interested in seeing to the success, of your organisation.
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