In today’s fast-paced and constantly evolving business environment, being a CEO is more challenging than ever before. CEOs face a multitude of responsibilities, including leading the company, making strategic decisions, managing employees, and fostering growth. To excel in this role, CEOs must continuously hone their skills, knowledge, and expertise. One of the most effective ways to achieve this is through mentoring, according to Alfonso “Chito” Zulueta.
At the end of 2021, Zulueta retired from his positions at Lilly as President of the company’s international business unit, executive committee member, corporate officer, and head of all business operations outside of the United States and Canada. Previously, he held the positions of president of Lilly’s Emerging Market business unit, president of Japan, president of the global oncology and critical care product group, vice president in charge of U.S. sales and marketing for the neuroscience and diabetes/family health business unit, and vice president of global marketing.
Additionally, Zulueta is an independent board director of various US public and private companies, and is CEO of his own investment company. Previously, he served as the chairman of the international committee for the European Federation of Pharmaceutical Industries and Associations, the chairman of the Japan Business Executive Committee for PhRMA, the governor of American Chamber of Commerce – Kansai and was awarded the Hyogo, Japan Award presented by Governor Ido for his exemplary contributions to the prefecture.
He maintains that the primary definition of an effective CEO, or leader for that matter, is one who delivers great results. To deliver strong results, CEOs would benefit from having mentors who can guide and support them in enhancing their skills and achieve excellence in their roles. Here are some ways mentoring can help CEOs today towards excellence:
Providing Insight and Guidance
Mentors can offer valuable insights and guidance based on their own experiences and expertise. This guidance can help CEOs navigate complex business challenges and make better-informed decisions. A mentor can serve as a ‘sounding board’ and provide a fresh perspective on business problems and offer new solutions that may not have been considered before.
Developing Leadership Skills
CEOs need to possess strong leadership skills to succeed. Mentors can help CEOs hone their leadership skills by providing feedback on their leadership style, guiding them through challenging situations, and helping them develop strategies for leading their team effectively. A mentor can also help CEOs develop a leadership development plan that aligns with their business goals.
Building Networks
Networking is critical for any CEO’s success. Mentors can help CEOs build their professional networks by introducing them to new contacts, providing advice on how to network effectively, and connecting them with industry leaders. A mentor can also provide valuable insights into the culture and norms of the industry, helping CEOs navigate their professional relationships more effectively.
Offering Emotional Support
The role of a CEO can be incredibly stressful and isolating. A mentor can provide emotional support to CEOs, offering a sounding board for their ideas and concerns. A mentor can also help CEOs manage their work-life balance, helping them to prioritize their time effectively and avoid burnout.
Fostering a Learning Culture
Mentoring can help CEOs foster a learning culture within their organization. By demonstrating a commitment to their own professional development, CEOs can inspire their employees to do the same. CEOs who embrace mentoring can create a culture of continuous learning and improvement, leading to a more dynamic and innovative organization.
Encouraging Risk-Taking
One of the key ingredients of success is the ability to take calculated risks. Mentors can encourage CEOs to take risks by providing support and guidance throughout the process. By helping CEOs to identify the potential benefits and risks of a particular course of action, mentors can help CEOs make more informed decisions and take more calculated risks.
Providing Accountability
Mentors can hold CEOs accountable for their actions and decisions. By providing regular feedback and holding CEOs to their goals, mentors can help CEOs stay focused and motivated. A mentor can also help CEOs stay on track with their development plans, ensuring that they are making progress towards their goals.
In conclusion, mentoring is a powerful tool for CEOs seeking to achieve excellence in their roles. By providing guidance, support, and feedback, mentors can help CEOs hone their skills, knowledge, and expertise. Mentoring can also help CEOs build their networks, foster a learning culture, and take calculated risks. CEOs who embrace mentoring can create a more dynamic and innovative organization, leading to greater success in
