Executive Presence and Risk-Taking Characteristics - Research Paper Example

? Week 10 Research Paper: Executive Presence al Affiliation Table of Contents Table of Contents 2 4 Executive Presence 5 Business Intelligence Characteristics 5 Strategic vs. Tactical 5 Whole Company Perspective 6 Financial Framework 6 Risk-Taking Characteristics 7 Capitalize on Change and Ambiguity 7 Leaping Ahead in Career 7 Beyond the Comfort Zone 8 Interpersonal Relationship Characteristics 9 Communication in a Clear, Concise, and Persuasive Manner 9 Managing vs. Leading 9 Share the Limelight 9 Performance Improvement Characteristics 10 Prioritize Projects 10 Solid Thinking Skills Development 10 Developing Discernment 10 Self-Development Characteristics 11 Know Thyself 11 Seek Feedback 11 Gain Confidence 11 Training 12 Conclusion 12 References 14 Appendix 15 Abstract Executive presence is possessed by a person who has a confident and a strong persona. This charismatic personality of the individual makes him attractive to people, thus the people follow him. Ultimately, people trust the leadership of the executive and they are assured of the sense of self. There are five classes of executive presence, which contain the sixteen executive traits. These classes include business intelligence, risk taking, interpersonal relationship, performance improvement, and self-development characteristics. The business intelligence characteristics include strategic vs. tactical, whole company perspective, and financial framework. Risk taking characteristics entail capitalizing on change and ambiguity, leaping ahead in one’s career, and going beyond the comfort zone. Interpersonal relationship characteristics include clear communication, managing vs. leading, and sharing the limelight. Performance improvement characteristics are composed of prioritizing an individual’s projects, developing solid thinking skills, and developing discernment. Lastly, self-development characteristics include knowing thyself, seeking feedback, gaining confidence, and training. These executive traits are important for the creating the executive presence in any organization. For instance, effective communication in a clear and precise manner is crucial for the development of executive presence. Executive Presence Executive presence is possessed by an individual who has a confident and a powerful persona. The charismatic personality of the individual attracts people and makes them follow the individual. Then, people trust in the executive’s leadership and they are assured of the sense of self. The individual is a strong force within the organization. The individual does not hesitate; he or she takes immediate action. He is confident and decisive with the choices and he is not wavered by anything. Even if the individual is wrong, his or her outward demeanor is not affected. He just tries again because taking risks is his part of the natural approach (Garfinkle, 2011). The individual is assertive and constantly moves forward with what he wants. He believes in something and directs all his force and energy towards it. He is not forceful but very firm with his opinions and ideas. The respective with which the individual treats others prevents them from seeing his or her aggressiveness and assertiveness. The individual creates consensus with the others so that they feel included in the concepts that he or she encourages. When he or she leverages his expertise and the areas in which he is experienced, executive presence follows. As individual develops executive traits, he or she builds executive presences into an important component of the current state (Garfinkle, 2011).There are five categories of executive presence which encompass the sixteen executive traits. These categories include business intelligence, risk taking, interpersonal relationship, performance improvement, and self-development characteristics. Business Intelligence Characteristics Strategic vs. Tactical Having tactical skills (that is, the capability to manage day-to-day tasks and actions) is crucial to the success of the career. However, the capability to see business in a strategic and universal manner will set the individual apart from his peers (Monarth, 2009). Proactive thinking or strategic thinking is also referred to as gaining political advantage. It is important to note there are a fewer positions in comparison to the number of talented and ambitious individuals, thus, it is crucial for one to inform others what he has done and what he can do, and why he is best candidate for the job (Businessday Staff, 2012). Whole Company Perspective The individual must gain the whole company perspective. It is imperative that they increase their sensitivity and broaden their perspective to the ins and outs of the organization, from the competitors in the industry to procedures and operations that impact daily life in the company (Monarth, 2009). In other words, the individual must outside the box, and study the ins and outs of the organization. That way, he will be able to discover opportunities important to demonstrate his value and improve his career (Garfinkle, 2012). Financial Framework The common characteristic of the current executive leaders is the ability to communicate from a strong financial framework. These leaders speak about virtually everything in terms of requests, goals, accomplishments, and finances. The higher the individual advances, the further bottom-line, financial responsibilities, the individual will assume. It is important for the individual to know the means of communicating achievements in terms of measurable and specific results. This clearly demonstrates the value of the executive and it enhances his or her credibility. Effective financial communication will assist the individual to get more resources, receive proper financial backing, obtain the desired head-count, and to secure the required buy-in so that the projects can be effective (Garfinkle, 2012). Financial communication is not a difficult task; rather, it is a skill learned that can be developed by anyone. It is important for the executive to explain the departmental or professional goals and accomplishments in concrete financial terms, that is, precisely what has been achieved, such as the percentage of dollars gained or the amount of money saved. The following financial terms are important for the executive to understand if he or she has to speak the language of finance. They include balance sheets, cash flows, net present value, accruals, budget planning, capital vs. revenue, free cash flow, discounted cash flow, liabilities and risks, gross profit and ratios, performance ratios, ROI (return on investment), EVA (economic value added), ROIC (Return on Invested Capital), cost of capital, and EPS (Earnings per Share) (Garfinkle, 2012). Risk-Taking Characteristics Capitalize on Change and Ambiguity Capitalizing on change and ambiguity is an important component in risk taking. Thus, it is crucial for the individual to be flexible, nimble, and responsive. It is very essential to be comfortable with change and ambiguity and to discover means through which one can increase his or her tolerance of ambiguity and become more pro-active (Monarth, 2009). The individual must stand in a confident way above those who are threatened or wavered by uncertainty. Careers are made and leaders revealed for those who are able to withstand the stormy seas (Garfinkle, 2012). Leaping Ahead in Career Climbing the corporate hierarchy and leaping ahead in the company is all about going beyond the expectations. Doing everything in the right way (such as taking part in appropriate training sessions and meetings, achieving what is asked for and doing your responsibilities) is just sufficient to gain the status quo. Leaping ahead is all about surpassing beyond what is expected, standing out and leaving a lasting impact. When an individual does so, he or she is able to go to the next level of the organization. The next level in the organization requires the individual to take concerted efforts and willingness to take risks, and attempt new things once the individual has proved that he can do the current job very well, he or she has a firm foundation from which he can leap ahead (Garfinkle, 2012). Having a reputation for reliability and an exemplary work record will assist the individual when he is suggesting new ideas, asking to venture into more challenging projects, and assuming other work-related risks. Superiors and colleagues are most likely to take a chance or listen to someone who has proved to be an important asset to the company. Innovative improvement is one of the ways through which an individual can leap ahead in his or her career. It is important for the individual to look for more innovative improvements concerning his or her division, the company, and the projects (Garfinkle, 2012). Beyond the Comfort Zone It is important for the executive to stretch his abilities, take risks, and go beyond his comfort zone. Settling for the average and maintaining the status quo will permit others to overtake the individuals, regardless of the skill or the talent. When one takes risks, fear comes with the territory. The uncomfortable feeling or anxiety, and the uncertainty of whether the task or project can be done is one way through one can know if he has gone beyond his comfort zone. When one works through these fears and gets to the other side of self-doubt-inducing situation, he gains more control of the potential limiting situation, and feels more comfortable and competent. The resultant effect would be excellent performance and better compensation for the newly enhanced skills (Garfinkle, 2012). Interpersonal Relationship Characteristics Communication in a Clear, Concise, and Persuasive Manner Communication with others in a clear, persuasive, and concise manner delivers the intended message effectively (Monarth, 2009). The executive or the individual must build trust, credibility, and confidence through speaking persuasively and clearly (Garfinkle, 2012). Thus, it is important for the leaders with executive presence to communicate in a structured and logical way. The individual can make use of numbers to guide the people who are listening such as four reasons why the company is achieving its goals. Or the individual can break his verbal communication into sections, for instance, the individual can begin by breaking the statements and explaining each statements in a clear and comprehensive manner. Lastly, the individual can package all the ideas in a manner that all the audiences can follow (Antrim, 2009). Managing vs. Leading There is a big difference between being a manager and being a leader. The individual must know the distinction between the two. He should also learn how to express leadership capabilities and move beyond the usual role of the manager (Monarth, 2009). The individual should not just manage but lead. It is important to beyond the role of the manager so as to influence events and people surrounding you. As a leader, one is capable of motivating and inspiring others what is best for the work group as well as the organization (Garfinkle, 2012). Share the Limelight The executive has to share the limelight. It is not within the reach of everyone to share acknowledgment with colleagues, and develop chances for others to get exposure and their performance rewarded. It is important for the individual to learn the different strategies of sharing limelight to boost their careers and those of others (Monarth, 2009). Sharing recognition with others enhances the reputation of an individual as a confident leader. Sharing recognition boosts teamwork, trust, and morale. It also boosts opportunities for individual advancement (Garfinkle, 2012). Performance Improvement Characteristics Prioritize Projects It is important for the individual to prioritize his or her projects, and consider all the projects he or she is working on. It is also important for the individual to evaluate their impact and importance and prioritize to gain maximum results (Monarth, 2009). This can be done by improving productivity, reputation, and influence for high-level attainment when the individual focuses on the things that are very important. The individual will become both a peak performer and maintain a healthy balance in his or her life (Garfinkle, 2012). Solid Thinking Skills Development Developing solid thinking skills is also another important performance improvement characteristic. The individual is required to understand how to utilize creative thinking in solving problems, evaluating concerns/issues, understanding complex tasks, and making the best decisions (Monarth, 2009). In other words, the individual must refine his thinking skills. Best decisions are made through solid thinking skills. The individual will get recognized and rewarded for his or her capability to comprehend and solve sophisticated tasks, evaluate concerns and issues and his response to the desired outcome (Garfinkle, 2012). Developing Discernment Developing discernment is also another important performance improvement characteristic. The individual has to learn how to analyze different situations, whether personnel- or project-related and utilize what they observe to make sound decisions (Monarth, 2009). In other words, the individual must be capable of navigating the difficult and stormy waters through his inner compass. It is important for the individual to follow the truth that is inside him and make the most ethical decisions for himself and the organization (Garfinkle, 2012). Self-Development Characteristics Know Thyself Knowing thyself is the act of acknowledging ones value in the company and effectively sharing it with the rest. It encompasses being aware of all what an individual has achieved. This level of awareness is not possible without the process of tracking and processing information about ones accomplishments (Businessday Staff, 2012). Professional success and personal fulfillment is achieved when one capitalizes on the strengths and reduces mistakes (Garfinkle, 2012). Seek Feedback The executive or the individual must seek feedback. The individual must learn how to request (ask) and who to request for developmental feedback. He must also know how to express gratitude for that feedback (Monarth, 2009). It is important for the individual to encourage feedback to express his or her desire to contribute to the success of the company, and to demonstrate his passion for personal development. This way, the individual will achieve his full potential and assist others in achieving it as well (Garfinkle, 2012). Gain Confidence Gaining confidence is another important characteristic for self-development. Confidence is built through motivating others, improving performance, and influencing decisions. As a self-developed and confident leader, self-imposed limitations and failures will not intimidate him (Garfinkle, 2012). It is important for the individual to be secure for who he is, what he can do, and how he can do it. His talents, intellect, and abilities will give him the results he desires most (Monarth, 2009). Training The last characteristic of self-development is sharpening and expanding ones skills through training. The growth potential is increased by making investments in the most important assets possessed by the individual. This makes the individual more competitive and marketable within the global marketplace and the company respectively (Garfinkle, 2012). Training is important in career advancement. The success of an individual is not limited to his willingness to get whatever support he requires to grow, experience, and learn (Monarth, 2009). Conclusion In conclusion, executive presence is achieved by an individual who possesses a strong and confident persona. This individual is capable of attracting people, and ultimately people follow him. In the end, people trust the executive leadership and thus, they are assured of the sense of self. There are sixteen executive traits under the five categories of executive leadership. These categories include business intelligence characteristics, risk taking characteristics, interpersonal relationship characteristics, performance improvement characteristics, and self-development characteristics. For each category, there are various executive traits. For instance, in business intelligence characteristics, there are traits such as strategic vs. tactical, whole company perspective, and financial framework. These traits give more information about the characteristic in question. For example, the financial framework (in business intelligence characteristics) is a common feature of the present executive leaders. Thus, the leaders must have the ability to communicate from a strong powerful framework. They speak virtually about everything in terms of accomplishments, requests, finances, and goals. It is imperative for the person to know the ways of communicating accomplishments in terms of measurable and specific outcomes. Financial communication that is effective will assist the person to get more resources, get proper financial backing, and obtain the needed head-count. It is imperative for the individual to elaborate the departmental or professional goals in concrete financial terms, for instance, the amount of money saved. Some of financial terms that are important for the executive to understand for effective financial communication include balance sheets, net present value, budget planning, free cash flow, and performance ratios. References Antrim, L. (2009). Executive presence: 7 steps to develop your executive presence. Retrieved from http://www.articlesbase.com/leadership-articles/executive-presence-7-steps-to-develop-your-executive-presence-885578.html Businessday Staff. (2012). Creating executive presence’ as strong personal brand. Retrieved from http://businessdayonline.com/NG/index.php/work/33439-creating-executive-presence-as-strong-personal-brand Garfinkle, J. (2012). Executive presence. Retrieved from http://www.dreamjobcoaching.com/downloads/executivepresence/sample.pdf Garfinkle, J. A. (2011). Getting ahead: Three steps to take your career to the next level. Hoboken, NJ: John Wiley & Sons. Garfinkle. (2012). 5 categories of executive presence and the sixteen executive traits. Retrieved from http://www.garfinkleexecutivecoaching.com/ep_16.html Monarth, H. (2009). Executive presence: The art of commanding respect like a CEO. Columbus, OH: McGraw-Hill Professional. Appendix Figure 1: The five categories of executive presence. Read More