The Broad Vision of Strategy
The CGO bridges internal organizational gaps between business units which drive organizational growth. These include marketing, sales, research and development, finance, and more. A Chief Growth Officer develops a broad vision for executing strategies aimed specifically at generating sustained organizational growth.
Here are three questions you should ask yourself while searching for your next Chief Digital Officer:
1. Does your organization cultivate a workplace culture that is open to innovation?
The role of a Chief Growth Officer is inherently innovative and requires a certain level of experimentation. A Chief Growth Officer has to be able to make bold decisions in order to successfully drive organizational growth. There are many ways to measure how open your workplace culture is to innovation.
Do teams frequently brainstorm ideas outside of the typical scope? Do teams feel comfortable offering less-than-fully formed ideas? Are management teams supportive and encouraging of expression of ideas which don’t necessarily conform to convention?
Organizational structure is a critical determinant of whether a particular candidate could be successful in the role of Chief Growth Officer for that particular organization. Curiosity about contemporary trends in the broader industry, keeping tabs on the latest technological advancements, and the ability to translate those observations into actionable consumer-centric solutions are organizational systems which will allow a Chief Growth Officer the structure they need to successfully drive organizational growth.
2. What specific strategies has a candidate used to drive growth, and how do those strategies align with your organization’s needs?
Determine where exactly your organization is in its growth, then prioritize the responsibilities of the Chief Growth Officer accordingly. Different organizations are at different stages of growth, and individual organizations require different tactics and strategies in order to reach their goals.
A candidate’s specific experiences in driving organizational growth are indicative of that candidate’s vision. In order for that candidate to be successful as Chief Growth Officer, their vision needs to be aligned with the organization’s specific needs.
A Chief Growth Officer does have to be innovative and act boldly, but they need to do so in a way that fulfills the organization’s specific goals. Does a given candidate have the experience of growing organizations at the stage your organization is currently in? If so, how successful were the strategies employed by that candidate? When searching for your next Chief Growth Officer, first determine what specific strategies a candidate has used to drive organizational growth.
Then, consider how (or if) those specific strategies align with your organization’s needs.
3. What opportunities for personal growth will your Chief Growth Officer role have?
The leadership talent you’re seeking for your organization’s Chief Growth Officer is highly sought after. Given the bold and highly-innovative nature of a successful Chief Growth Officer, the talent in this area is interested in what personal growth opportunities will be available to them. The role of a Chief Growth Officer is a highly-evolving one. When searching for your next Chief Growth Officer, consider what opportunities for personal growth are reflected in the role.
Few C-suite roles are as bold or as risk-taking as the Chief Growth Officer. The person your organization hires for this role will be critical in achieving organizational goals and determining the overall direction of the organization’s growth moving forward into the future. When searching for your next Chief Growth Officer, ask these three questions: do you have a workplace culture that is open to innovation, does a candidate’s vision and strategies for growth align with organizational needs, and what opportunities for personal growth will your Chief Growth Officer have?
We used to live in a world where the big ate the small. Now, we live in a world where the fast eat the slow. The velocity of business may be rapidly increasing, but the business world is facing a talent shortage. An organization’s ability to identify and hire talent will be directly proportional to their success, so talent acquisition should be a core strategic focus for today’s business leaders.
As author Roy T. Bennett once said, “If you want to fly, you have to give up what weighs you down.”
Marketing changed drastically when the internet became everyone’s main source of information. Digital marketing is now cheaper, faster, more measurable and more engaging than traditional marketing.
The Chief Digital Officer (CDO) is typically a company’s principal leader in the digital transformation process. 84% of companies fail at digital transformation, and the average tenure of a CDO is shorter than other C-Suite roles. Of course, there are many reasons for this; it isn’t easy to serve as the primary transformation leader and intermediary between other executives and functions in the creation and rollout of digital initiatives. In order to be successful as a CDO, you must have a champion mindset.