g-f(2)2653 Navigating CEO Success: A Three-Act Approach

 

genioux Fact post by Fernando Machuca and ChatGPT

Introduction

In his enlightening article "The CEO’s Journey Is a 3-Act Play," published in Harvard Business Review on July 19, 2024, Nitin Nohria presents a structured approach to CEO leadership, breaking it down into three distinct phases. These phases, or acts, offer a roadmap for CEOs to navigate their tenure with strategic intent, ultimately increasing their odds of success. By viewing their role as a journey with a clear beginning, middle, and end, CEOs can better plan and execute their responsibilities, ensuring a legacy of positive impact and sustained performance.

genioux GK Nugget

"A CEO's tenure is most successful when approached as a three-act play: establishing legitimacy, recalibrating strategies, and preparing for succession." — Fernando Machuca and ChatGPT, July 23, 2024

genioux Foundational Fact

Planning a CEO's tenure as a series of three distinct phases—taking charge, recalibrating and reenergizing the organization, and preparing for a smooth transition—helps in achieving long-term success and leaving a lasting positive impact.

The 10 Most Relevant genioux Facts

1. Three-Act Framework: Nohria suggests viewing the CEO's tenure in three acts: establishing legitimacy, recalibrating strategies, and preparing for succession.
2. Act One - Taking Charge: The initial phase involves assessing the current situation, building a top team, setting a change agenda, and establishing a clear leadership style.
3. Act Two - Recalibrating and Reenergizing: In the second phase, CEOs revisit earlier decisions, correct mistakes, institutionalize changes, inject new energy, and strengthen the leadership bench.
4. Act Three - Preparing for Succession: The final phase focuses on planning for an orderly transition, ensuring the organization’s stability, and making bold moves to keep the company energized.
5. Importance of Early Wins: Achieving early wins in Act One helps build legitimacy and sets a positive tone for the CEO’s tenure.
6. Continuous Reassessment: CEOs must continuously reassess their strategies and be open to course corrections to ensure ongoing relevance and effectiveness.
7. Building Relationships: Effective communication and relationship-building with key stakeholders are crucial for gaining trust and support.
8. Avoiding Complacency: CEOs must guard against complacency and risk aversion, especially after initial successes, to maintain momentum and drive continuous improvement.
9. Orderly Succession Planning: Proactively planning for succession and engaging with the board to ensure a smooth transition is critical to maintaining organizational stability.
10. Leaving a Legacy: CEOs should aim to leave the organization stronger and better prepared for future challenges, ensuring their legacy is one of sustained success and positive impact.

Conclusion

Nitin Nohria's article "The CEO’s Journey Is a 3-Act Play" offers a valuable framework for CEOs to structure their tenure strategically. By approaching their role in three distinct phases—taking charge, recalibrating and reenergizing the organization, and preparing for succession—CEOs can increase their chances of success and leave a lasting legacy. This structured approach allows for continuous reassessment and improvement, fostering a culture of growth and resilience within the organization. Embracing this framework can help CEOs navigate the complexities of their role with greater confidence and clarity, ultimately leading to a tenure marked by achievement and lasting positive impact.

REFERENCES

The g-f GK Context

Nitin Nohria, The CEO’s Journey Is a 3-Act Play, Harvard Business Review, July 19, 2024.

ABOUT THE AUTHOR

Nitin Nohria is the George F. Baker Jr. and Distinguished Service University Professor. He served as the 10th dean of Harvard Business School, from 2010 to 2020.

Classical Summary of the Article

In his article "The CEO’s Journey Is a 3-Act Play," published in Harvard Business Review on July 19, 2024, Nitin Nohria provides a strategic framework for CEOs to navigate their tenure successfully. Nohria proposes that CEOs should approach their leadership role as a three-act play, each with distinct phases that contribute to long-term success and a positive legacy.

Act One: Taking Charge

In the first phase, which typically lasts two to three years, a new CEO must establish their legitimacy by assessing the organization's current state, setting a clear agenda, building a top leadership team, and communicating effectively with key stakeholders. This phase is crucial for achieving early wins and setting a positive tone for the rest of the tenure.

Act Two: Recalibrating and Reenergizing

The second phase involves reassessing earlier decisions, correcting mistakes, institutionalizing changes, and injecting new energy into the organization. This phase, occurring two to three years into the role, is about maintaining momentum and driving continuous improvement. It includes strengthening the leadership bench and exploring new initiatives that may have been too risky in the initial phase.

Act Three: Preparing for Succession

The final phase focuses on planning for a smooth transition and ensuring the organization’s stability after the CEO’s departure. This involves deciding when to step down, enabling an orderly succession, and making bold moves to keep the organization energized. CEOs must also address any lingering issues to avoid burdening their successors.

Nohria emphasizes that CEOs who plan their tenure with these three distinct phases in mind are more likely to achieve sustained success and leave a lasting positive impact. This structured approach allows for continuous reassessment and improvement, fostering a culture of growth and resilience within the organization. By viewing their role as a journey with a clear beginning, middle, and end, CEOs can navigate the complexities of their position with greater confidence and clarity.

Nitin Nohria

Nitin Nohria, born on February 9, 1962, is an Indian-American academic known for his significant contributions to the field of business administration¹. He is the George F. Baker Jr. and Distinguished Service University Professor at Harvard Business School³.

Nohria was born in New Delhi, India, into a Hindu Baniya family originally from Nohar, Rajasthan¹. His father, Kewal Nohria, was the former chairman of Crompton Greaves in India, and was one of the reasons Nohria decided to embark upon a career in business¹.

He attended high school at St. Columba's School in New Delhi, India¹. He earned a B.Tech in Chemical Engineering at the Indian Institute of Technology Bombay, graduating in 1984, and then received an MBA from Jamnalal Bajaj Institute of Management Studies at the University of Mumbai¹. He earned a PhD in Management from the Sloan School of Management at Massachusetts Institute of Technology in 1988¹.

Nohria served as the tenth dean of Harvard Business School from 2010-2020¹³. He previously served as co-chair of the Leadership Initiative, Senior Associate Dean of Faculty Development, and Head of the Organizational Behavior unit². His intellectual interests center on leadership and corporate performance³⁴.

He is the co-author of 16 books and over 100 articles and cases³⁴. His work has significantly influenced the understanding of leadership and the factors that contribute to corporate success³⁴.

In summary, Nitin Nohria is a distinguished academic and thought leader in the field of business administration. His work at Harvard Business School and his extensive research on leadership and corporate performance have made a significant impact on the field¹²³⁴.

Source: Conversation with Copilot, 7/24/2024

(1) Nitin Nohria - Wikipedia. https://en.wikipedia.org/wiki/Nitin_Nohria.

(2) NITIN NOHRIA - EXOR. https://www.exor.com/sites/default/files/person-cv/CV%20Nitin%20Nohria%202024.pdf.

(3) Nitin Nohria - Faculty & Research - Harvard Business School. https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6523.

(4) NITIN NOHRIA - Exor. https://www.exor.com/sites/default/files/person-cv/CV%20Nitin%20Nohria_0.pdf.

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