For senior executives of a company who are aiming for the corner office with a great view, it is not just another promotion that you are aiming at. You don’t have to just convince you boss about this, you may have to convince the CEO and the major investors/ board of directors about your promotion. Having a good track record and good relations with senior people is not enough as the key decision makers have to think about thee future of the company when appointing someone senior like a Vice President or a Director. They have to assess if the skills that the person has are at par with what the company needs in future in order to beat competition.
It is these strict parameters that one has to abide by in order to make the cut and get the top job. Many times, in case the management is unable to get an appropriate replacement for a certain position internally, they look for a replacement externally. As you move up the corporate ladder, the number of positions available start reducing; ex: there can be only 1 CEO; and hence you have to be well networked to be in know of all the important decisions.
One of the most important factor here is that while impressing the investors and directors, one should be able to win their confidence by convincing them that you truly understand your industry, your customers/ clients and have plan to grow the company and make it a leader in future. This is a tough task and this distinguishes a leader from a manager. As a manager you take and implement the decisions that are conveyed to you, but as a leader you need to develop a vision for the company that lets you create a plan which is then implemented by managers.
This is where the knowledge of the Blue Ocean Strategy is important. Blue ocean strategy is defined as the creation by a company of a new, uncontested market space that makes competitors irrelevant and that creates new consumer value often while decreasing costs. If you are able to suggest a new way ahead which results in 0 competitions for your company in a way that involves minimum capital expenditure and as little effort as possible.
This basically means that you either solve a problem for your customers with your existing product & completely destroy your competition or you come up with a new product that takes you miles ahead of your competition. Whether you are able to tap into this wide Blue Ocean of opportunity that has been so far untapped is what the management of any company would want to see from its new leader. It is your ability to lead the company into the new century that will truly help your company and get you that corner office.
BSE Institute Ltd (BIL) offers an Advanced Management Program (AMP) that equips you with the techniques that are used by Senior Management executives. The AMP is designed specially for senior managers who are looking to make the transition to the next level.
Making the transition is not just about using advanced marketing/ sales/ management concepts, but rather about understanding and implementing them. This is a tough thing as there are many marketing gurus that promote complex concepts, but very few who tell you how to implement this in your company with the set of products that you have. In order to win a war, strategies are planned in the comforts palaces while sitting on leather sofas and furniture, but they are implemented and executed on the battlefield. The same is true for the modern corporates, but the difference is that the goal posts keep shifting daily. Read more, study more and network more to stay ahead in this race!