Friday, October 12, 2012

Role of a CEO

A CEO's role is very important for any organization especially a startup. Recently, had a chance to read an article on problems that Elop is causing as the CEO of Nokia at this link

Probably I would put all these blunders in the following buckets
  1. he wanted to go after the US market (where Nokia has been weak) at the cost of the markets where Nokia was strong (Emerging markets). You got to keep your strengths while addressing your weaknesses; not try a burn your bridges strategy while fixing your weaknesses.
  2. In addition I guess he was trying to minimize the number of product lines he had. But he was trying to do this  by cutting the profitable products prematurely. 
  3.  And he destroyed the strong relationship that Nokia had with their existing customers (Carriers in this case).
  4. And finally give control of Nokia’s destiny to a partner (Microsoft) who are jerking them around. 

I am sure we can all relate to these.