Are all executives’ good directors?
Are all executives’ good directors? There are noticeable different behaviours between a director and an executive. As the roles are very different. As a director, you need to have a consensus mindset. Whereas an executive is quite the opposite they need a move-fast, non-consensus mindset.
Looking well ahead
Directors will track the executive team are meeting goals. They will also track the short-term health of the business. But for most directors will need to see beyond the executive horizon. They need to help build the company’s long-term path forward.
What makes a successful director?
A director tends to be confident but not arrogant. They will have a complex mixture of professional competency, work ethic, and collaborative skills. Directors do not all have the same skills, these can vary depending on the industry. For example, a banking COO with 20 years’ experience has operational expertise in the banking industry. Whereas another director’s skill will include the growth of companies. This including logistics and risk of offshore expansion.
What do companies look for?
Boards in our days are very different from the past. They consist of an array of industry-relevant specialist where all are expected to contribute.
Companies will look for skill set they would like to put in place onto the board. Then they will look for a candidate that matches this expertise.
It is important that in preparing yourself for a board position you must identify exactly the skills and experiences you can offer. As successful directors will bring a relevant, unique and most importantly current sills set to the board.
But skillset is only one part of being a good director. The other and probably one of the most important things is your mindset.
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