Comment by ryandrake
7 hours ago
I think a lot of this kind of talk treats the C-Suite as special, mystical "visionary" people who Know Things We Can't Know, and by virtue of this otherworldly magical power, are uniquely qualified to do their jobs. Like the average person with basic knowledge of his business and industry can't possibly choose one service provider out of 10 bids, or set business priorities, or drive and enforce culture. We're not talking about wizardry here.
People always dunk on me for saying this outrageous statement, but if you put me in charge of a random Fortune 500 company, I give myself a 50% probability of the company performing better than if its real CEO was in charge, and a 50% probability of it performing worse. I really don't think these guys bring as much to the table as they think they do and as much as the general public seems to think they do. Business success does not come from paranormal insight and abilities.
I think you could randomly nominate CEOs from the set of the general population with, say, a minimum of a college degree, and the randomly nominated CEO's performance would not statistically differ from "qualified" CEOs.
CEOs are probably by and large less technically competent than the average technical line employee, but what companies are actually paying for is personal connections to power structures that can be leveraged for profit. Look at someone like Condoleezza Rice- almost certainly her political science doctorate imparted her with no real technical knowledge, yet she's served on the boards of C3.ai, Chevron, HP, Dropbox, Transamerica, Charles Schwab and a million other vague leadership positions for other entities in fields she almost certainly lacks any competence in.
There are some exceptional executives out there with strong vision, ability to execute and build. Those are rare. The rest are just a bunch of people who had risen to the position because of whatever. They often don't have any special knowledge or skills and succeed mostly because of how the system works. For instance, I can't imagine what one would need to do to fuck up in a company like Coca-Cola. It's super well established, supply chains are golden, everything works,etc. So does success in such a company really mean the executive is some sort of visionary genius? Absolutely no.
This is absolutely spot on. CEO/C-Suite/VPs are surrounded by gatekeepers (usually something like the PMO org, program management) who feed them with garbage info. Even if a top level leader is genuinely interested in making things better, they would never know because the gatekeepers firewall any competent person.
The gatekeeping org has the highest density of incompetence. They only hire incompetent because loyalty to the person hired is the most important. Gatekeeping orgs of various leaders protect each other, there is almost never any blame, it is things are good and they are going to get better, announce xyz initiatives/projects.