As business leaders, we understand the importance of setting and tracking goals for individuals, teams and our organization as a whole — a concept that dates back to the 1950s and Peter Drucker’s watershed work on “management by objectives.” And, since the 1980s, most top-performing companies have relied on SMART goals that are specific, measurable, achievable, realistic and time-bound.

Recently, MIT Sloan Management Review asked the question: “Are SMART goals really working?” and offered up a fascinating alternative. According to Donald and Charles Sull, goals should be FAST — embedded in frequent discussions; ambitious in scope; measured by specific metrics and milestones; and transparent for everyone in the organization to see.

As a CEO, you have ultimate accountability for your company’s performance. Your decisions not only impact profits, but also the culture of the company and the lives of your employees and stakeholders. No one is held to higher scrutiny. 

As we head towards 2020, it’s the right time to reexamine the common characteristics of the most successful CEOs and make these a priority for the coming year. 

As we head towards the fourth quarter of 2019 and into 2020, it’s critical that your entire team understands and fully buys into your organizational purpose, values, goals and the shared roadmap for success. A Company Playbook can help ensure company-wide clarity and alignment and will pave the way for scalable growth. 

We’re currently in one of the most competitive job markets in the history of business. Top talent has become a precious commodity, and the ability to recruit and retain A-players can be a differentiator between a stagnant or declining company and one that is vibrant and poised for growth. 

According to a recent study by IBM’s Smarter Workforce, 1 in 6 employees are actively looking for a new job and 46% of employees would consider a better job opportunity even if they weren’t actively looking. 

Most leaders agree that the customer experience (CX) can be the difference between a vibrant, growing business and one on the decline or stagnant. The strongest companies regularly monitor their CX and constantly look for areas to improve. 

But how many companies put the same focus on the employee experience (EX)? 

In his iconic business strategy book, Good to Great, Jim Collins shares what he calls the “flywheel effect” — a transformational phenomenon that he observed in some of the world’s most successful companies.  

It’s not about a single big idea or innovation, nor one groundbreaking marketing campaign or lucky moment. Instead, it’s a gradual, focused progression — much like pushing a massive flywheel forward, turn by turn, accelerating momentum until it reaches a breakthrough point. 

the clearest vision, the perfect strategic plan and an exceptional product or service, but without the right team, you won’t get too far. 

Legendary business guru Patrick Lencioni, author of The Ideal Team Player, says to look for three essential values in every team member. “It’s the combination of the three where the magic happens.”