A big problem with many group and team sessions is the ability to discuss freely – the ability to get all of the information and opinions on the table. The role of the CEO in any company is to be a leader, someone that ensures all opinions and questions are heard and answered. Someone that makes wise decisions based on a plethora of information and opinions. The CEO of Video Media failed to trust and listen to his team, and was not able to read his team in order to understand that all members had concerns.
As a CEO you should not make a decision without having all of the information on the table. Before making a decision that effects so many people, especially of the partners in this situation, the CEO should have sat down and calmly discussed all of the reasons why they should or should not invest more funds in the company. The CEO may have also let all of his power as the CEO hinder his ability to make wise decisions. The power may have made him feel more able to take risks, especially with the reinvestment of capital.
The CEO should also have trusted his team, as far as their abilities, skills, and opinions are concerned. He lacked the emotional intelligence to read the situation and instead attacked his partners during the board meeting. He should have treated each new investment like a new investment without thinking about the initial capital they had already invested. As a CEO he needs to know when it is time to cut his loses, and he needs to look at all of the information, not just the fact that the partners had already invested so much capital.
Additionally, as a CEO he should have the ability and humility to read people and ask for feedback. If one of his team members is uncertain about the decisions to reinvest, he should have calmly asked the individual to explain his/her side. He should have also asked the other partners what their opinions were, and also tried to read their facial expressions to see how they fel View More »