CEOs are expected to effectively handle and control many obvious and unrelenting challenges, on both a micro and macro level, from strategic leadership to day-to-day management, strategic/operational planning, and business operations. Inability to properly address these challenges casts doubt on the CEO’s ability to lead the organization.
The role of a CEO demands attention in every aspect of a business, especially in terms of decision-making. This is a duty of CEOs that cannot be taken lightly due to its fundamental impact on the continuity of a business. Business decisions have the potential to either make the business grow/thrive or fail/cease to exist.
The cost of CEO decision-making is arguably immeasurable, and may be fatal to the business in certain circumstances. The implications of inadequate information, error, immediate interest, basic values and self-defeating prophecy on a CEO’s ability to correctly predict the consequences of the actions she/he plans to take can be severe.
Surrounding oneself with peer CEOs on a regular basis and attending group learning events equips business leaders with the cognitive competence needed to take on business challenges, correctly predict the outcomes of purposeful action, and prevent the pitfalls of unintended consequences.
As a safe launch pad for CEOs, peer learning provides business leaders the opportunity to strengthen their judgment without pressure or urgency to make premature or unnecessary decisions. Rather, they are empowered to make sound decisions and improve confidence in predicting the outcomes and consequences of their actions.
Through peer/group learning, a CEO can multiply his/her critical thinking and scenario planning with increased exposure to new business ideas and advice, current business trends and best practices. By building peer relations through a professional network, CEOs are encouraged to broaden their outlook beyond the normative behavior of their company, with a robust consideration of potential outcomes and possible solutions.