A CEO Not in Fear of Failure is Beautiful
Overcoming adversity is one of the best virtues of CEO… “CEO is a navigator”

Hyeonman Shin(CEO)
Careercare Newsletter(January, 2015)

               It is very important, but also very hard to find a person whom we can entrust company management. An executive is required to represent the company in the public, and to have better understanding on business and experiences in organization management. There are numerous qualities to be fulfilled to become a CEO, and it is not true that a CEO simply does only one thing since he or she is supposed to do combination of works to achieve goals of the organization. Yet, if an achievement can only be gained when a CEO deals with all the works, that organization or business is not normal.

               In this sense, above all, CEO should be good at work which only a CEO can handle. In general, a CEO deal with three things: First, he or she needs to map out and leads the vision for the company. Creating visions reflecting company’s main objects, internal and external conditions of the company, and passion of company employees is the area which a CEO can present his or her ability.

               Only with a meaningful vision, a company can make a step forward undauntedly and bring employees together. Voluntary participation of employees, one of the most important factors making good results, can be made only when right vision is set up. Accordingly, the first prerequisite of CEO is ability to set up, to lead and to reach out a vision for the company.

               Second, a CEO has to convince employees. Having a vision does not mean it can be realized, and employees continuously doubt and falter so that they frequently would like to confirm if company’s vision can be realized. In other words, it is necessary to convince the employees that the company’s vision is achievable. For this, a CEO is the very first one who believes in the vision. It is not so hard for the employees to be aware of whether the vision is a simple picture or a well-planned and feasible one with blue print.

               In addition, a CEO has to communicate the vision with his or her members to convince them by all means. When those members trust the feasibility of the company’s vision, they will put their best efforts and voluntarily participation in the works to make the vision come true. They are not forced to do so, but willing to do to realize the vision.

               Third, a good CEO helps the employees who devote themselves to make the vision come true. Works are done by the employees, not by a CEO. So, a CEO is supposed to make his or her best efforts in shaping the workplace environments and atmosphere that the employees can do their duties well. Once a vision is built up and become assured, the next step is putting everything for making it to be realized.

               Sometimes, some of CEOs hesitate in committing themselves in the vision they’ve proposed by themselves. In this situation, it is understandable that displeased employees saying, “We have no idea why such vision was made at all.” It is hard to expect the organization to move forward when a CEO is not willing to step on. Helping employees does not mean watching them from a distance, but taking the initiative and setting an example. A CEO must take the lead in realizing the vision along with the employees.

               In addition, there is one more responsibility of CEO, and this plays more important role than those 3 mentioned above. The reason why a lot of CEOs who are good at doing those 3 things but left behind as a failure at the end, is they failed in doing this: This is to overcome adversity. A CEO goes through a lot of hardships from establishing the company till it becomes stable. Not many of CEOs overcome the adversities, and it is no exaggeration to say that the ability to triumph over adversity is one of the best virtues of CEO. In order to expand the company, CEO has to pass numbers of crises, and once a CEO has a doubt about ‘Why is it just me who has to endure hardships?’, it leads to a downfall of the company.

               When they are confronting crises, lots of management teams are on the constant moves to prepare measures. However, most of the time, it seems helpless, and closing the company seems better to minimize the loss. Even, continuing the business seems to be unduly stubborn and stupid.

               However, successful CEO does not give up to the end. Joo-Young Jeong, the former honorary chairman of Hyundai Group, said that “Unless I think I’ve failed, it is nota a failure’. He meant that, if we do not give up, we can not fail, and challenges are still ahead. Because of his attitude, he could develop a global group of “Hyundai” from nothing.

               Matsumoto Kenichi, the chairman of Sakura Electricity, emphasizes that “CEO is a person who does not give up even in the hardships, but seeks for a way to live.” Believing a way going through the hardship is the important virtue for a CEO.

               We will be successful some days if we do not give up. Not giving up and going through the ordeal, this is a must-have quality of CEO.

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