Excellent CEOs systematically prioritize, proactively schedule, and use interactions with their companies’ important external stakeholders to motivate action.
CEOs of B2B companies typically focus on their highest-value and largest potential customers. CEOs of B2C companies often like to make unannounced visits to stores and other frontline operations to better understand the customer experience that the business provides. They also spend time with their companies’ 15 or 20 most important “intrinsic” investors (those who are most knowledgeable and engaged) and assign the rest to the CFO and the investor-relations department.
Other stakeholder groups (such as regulators, politicians, advocacy groups, and community organizations) also will require a portion of the CEO’s time. The efficacy of these interactions isn’t left to chance. Excellent CEOs know what they want to accomplish, prepare well, communicate audience-tailored messages (always centered on their company’s “Why?”), listen intently, and seek win–win solutions where possible.
Source: McKinsey - The mindsets and practices of excellent CEOs