Who would want to be CEO?
The pressure on global business leaders has always been intense. However, I feel that the challenge is particularly serious now.
Top leaders oversee companies that employ hundreds of thousands of people around the world. You can no longer rely on the increasingly inefficient old-style hierarchical management techniques. They must manage technology as both a great threat and a great opportunity. And many are being urged by employees, investors, and opinion makers to speak up and address social issues, even if it costs them a lot.
“Frankly, it’s a terrible job. I wouldn’t want to do it.” Nicholas BloomAs a Stanford University professor who studies CEOs once said: “Being the CEO of a big company is a 100 hour work week. It eats up your life. It eats up your weekends. It’s super stressful. Of course, there are tons of perks, but that’s all inclusive.” There is also.”
Of course, multinational bosses are highly paid. They are ambitious and often seek the power and thrills that come with positions of power. No one becomes CEO by chance.And many of those who have had to deal with the stress of financial crises, activist attacks and hostile takeovers say they would. Again, despite everything.
But what does modern management look like, and how are business leaders tackling their toughest challenges? We delved into how we overcome that dilemma.
In an age of rising populism and tense geopolitics, how should businesses engage with governments? The story of the post-Cold War world has been one of deepening economic integration, international supply chains and trade ties. China’s economic development underpinned global growth for decades and laid the groundwork for helping the West recover after the 2008 financial crisis.
Now, tensions between Washington and China are putting businesses in a tough spot. The pressure for secession is growing bipartisan. But it has come after decades of companies trying to make the most of China not only as a manufacturing base but also as a huge market. Last year, bilateral trade hit a record $690 billion. This shows that not everyone is ready to run away from this economy to please the political rulers of the world’s second largest economy.
Closer to home, management’s positions and commercial decisions on key political issues, from abortion to access to transgender rights, come under close scrutiny. In a country as fragmented and vast as the United States, this means that a solid moneymaker in one market or state can be a political and reputational nightmare in another.
All of this suggests it’s more important than ever to make a corporate case for policy makers, but CEOs who speak out publicly should expect to be stymied. Matthew Gwither writes.
Is there a way to overcome the climate crisis without being politically targeted? The battle over corporate environmental commitments has escalated into a political-culture war. Shareholders, policy makers and commercial imperatives are pushing companies to put sustainability at the heart of what they do. But some influential officials, such as Republican governors of Florida and Texas, have bashed the companies that promote such policies and have political gains in doing so. Some companies believe it’s best not to say too much, as reported by Michael Skapinker.
What is the correct way to integrate artificial intelligence? ChatGPT, an AI-powered chatbot backed by Microsoft, has reshaped conversations. Google has declared its long-dominant search business “Code Red,” accelerating a major shift in AI operations.
More broadly, the transformative potential of rapidly advancing technology is forcing CEOs everywhere to balance the opportunities technology presents with the disruption it will inevitably cause. Kevin Delaney writes about how his business leader is looking to deploy his AI while preparing his employees for what’s next.
What does the struggle to get employees back into the office reveal about the end of top-down management? The parameters of the post-pandemic world of work are still negotiable. Some companies are forcing employees to return to the office, but with mixed results. What is certain is that there will be a shift to new, decentralized ways of operating. The system continues to stick because many workers want it. Management used to be able to decide how we work, but I’m starting to realize that it’s a bit complicated. Stefan Stern reports that establishing the right atmosphere and employee relationships is more important than ever.
Business leaders constantly have to make difficult decisions. But as each of these dilemmas shows, one wrong step now can have rapid and brutal consequences. And no matter how high the salary, there is no fixed or obvious solution.
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