What questions to put before hiring CEOs and his management team?

The fine evaluation of the CEO and the management team is important to the company’s performance. The evaluation course can be sum up into two main areas; company strategy formulation as well as implementation.

In line with a best performance study performed by a leading management institute in India, the CEO’s key challenge in planning and implementing the company strategy is not in coming across answers to the tough questions, the challenge is in asking over the correct questions. Putting the incorrect question will cause skewed operational plans.

Following are the top questions that every CEO must answer as well as the top questions that each CEO should ask his management team.

The top questions, a CEO should be asked:

Are we in the correct trade and market? What are the expansion areas to put in money and weakening areas to part from?

What are the financial and market study facts that support our plan?

What are our strong points, weak points, opportunities and threats (SWOTs)?

What are we doing to deal with every one of the SWOTs?

What is our core expertise? How can we be in command of them?

What are the important strategic as well as operational threats? How do we deal with them?

What are our key performance objectives?

How do we plan to accomplish those objectives?

How can we put up a continual competitive advantage?

How can we perk up dominance, management and reporting functions?

The top questions that should be answered by the management team:

Do we have a big expansion plan?

Do we have the correct expansion engine (business model, infrastructure, assets and set of connections)?

Does our operations management competently and successfully support our performance objectives? How do we identify?

Which dealers, partners, patrons and workers are delivering the real value? How do we acquire more out of the others?

What are the main SWOTs in every function, and how do you deal with them?

How can we build a sustainable competitive benefit in every function (promotion, IT, etc)?

What plans are required to implement our plan? How do we make sure that they are lined up and carried out with the right quality, in good time and inside the budget?

What are the major performance goals and motivation for every manager (CFO, COO and CHO)?

Do we have the suitable organization in place to meet the objectives? (The 5D strategy outline: financial plan, tools, goods, procedures and people)?

How can we communicate our strategies better to our stakeholders to win their support and accomplish our goals? 

By asking the above questions, we can surely expect to have excellent CEOs and his subordinate managers.

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