Harvard Business Review Time Management Pdf – 01 How CEOs manage time 02 What do CEOs actually do? 03 A CEO’s approach to managing his calendar
Summary. In 2006, Harvard Business School’s Michael E. Porter and Nitin Nohria launched a study that tracked how large company CEOs spent their time, 24/7, for 13 weeks: where they were, with whom, what they were doing and what they focused on. on To date, Porter and Nohria have collected 60,000 hours worth of data on 27 executives, interviewing them—and hundreds of other CEOs—about their schedules. This article presents the results, offering insight not only into best time management practices, but into the role of the CEO itself. CEOs must learn to simultaneously manage the seemingly contradictory dualities of the job: integrating direct decision-making with indirect levers such as strategy and culture, balancing internal and external constituencies, proactively pursuing an agenda while responding to unfolding events, exercising leverage while being aware of constraints . , focus on the concrete impact of actions while recognizing their symbolic meaning, and combine formal power with legitimacy. What do CEOs actually do? A look at the data on how CEOs have divided their time between different activities, locations, priorities and constituencies. One CEO’s approach to managing his calendar In an interview, Tom Gentile, the CEO of the $7 billion aviation supplier Spirit AeroSystems, shares what he has learned. tracing his time in Porter and Nohria’s study – and what he is trying to change as a result. The complete spotlight package is available in a single reprint.
Harvard Business Review Time Management Pdf
Managing the immense demands on their time is one of the biggest challenges for CEOs. But knowledge about how CEOs actually use time is almost non-existent.
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The authors followed the activities of CEOs at 27 large companies 24/7 for 13 weeks and then held intensive debriefs with them. The resulting data set offers deep insights not only into time management but into the role of the CEO itself.
Leaders must simultaneously learn to manage seemingly contradictory dualities—integrate direct decision-making with indirect levers such as strategy and culture, balance internal and external constituencies, proactively drive an agenda while responding to unfolding events, exercise leverage while being aware of constraints, focus on concrete decisions. and the symbolic meaning of each action, and combine formal power and legitimacy.
In the lexicon of management, the CEO is the epitome of leadership. But surprisingly little is known about this unique role. While CEOs are the ultimate power in their companies, they face challenges and constraints that few others recognize.
Running a large global company is an extremely complex job. The scope of the management work of the organization is huge, includes functional agendas, business unit agendas, different organizational levels, and many external issues. It also includes a wide range of constituencies – shareholders, customers, employees, the board of directors, the media, government, community organizations and more. Unlike any other executive, the CEO must engage with all of them. In addition, the CEO must be the internal and external face of the organization through good times and bad.
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CEOs naturally have a lot of help and resources at their disposal. However, she, more than anyone else in the organization, faces an acute scarcity of a resource. That resource is
There is never enough time to do everything a CEO is responsible for. Nevertheless, CEOs remain responsible for
The way CEOs allocate their time and their presence – where they choose to participate personally – is crucial, not only for their own effectiveness, but also for the performance of their companies. Where and how CEOs are involved determines what gets done and signals priorities to others. It also affects their legitimacy. A CEO who doesn’t spend enough time with colleagues will seem insular and out of touch, while one who spends too much time in direct decision-making risks being seen as a micromanager and eroding employee initiative. A CEO’s schedule (in fact, every leader’s schedule), is then a manifestation of
A crucial missing link in understanding CEOs’ time allocation—and making it more effective—was systematic data on what they actually do. Research on this has tended to either cover a small handful of CEOs, such as the 1973 study in which Henry Mintzberg observed five CEOs (some of whom led nonprofits) every five days, or rely on large surveys covering short periods ( such as our HBS colleague Raffaella Sadun’s 2017 study based on daily telephone surveys with 1,114 CEOs from a wide variety of companies in six countries over one week).
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Our study, which we launched in 2006, provides the first comprehensive and detailed examination of CEO time use in large, complex companies over an extended period. To date, we have tracked the time allocation of 27 CEOs – two women and 25 men – for a full quarter (three months) each. Their companies, which are primarily public, had an average annual revenue of $13.1 billion during the study period. These leaders were all participants in the New CEO Workshop, an intensive program that annually brings newly appointed CEOs of large companies to Harvard Business School in two cohorts of 10 to 12 each. In total, over 300 CEOs participated.
In the study, each CEO’s executive assistant (EA) was trained to code the CEO’s time in 15-minute increments, 24 hours a day, seven days a week, and regularly check this coding with the CEO. The resulting data set shows where, how and with whom the CEO spent his or her time and on what activities, topics and tasks. Because it also covers what CEOs do outside of work, we have visibility into how CEOs balance work and personal life. In total, we collected and coded data on nearly 60,000 CEO hours.
After the CEOs completed the time tracking phase, we shared their data with them, and compared it with anonymized data from the other CEOs we had studied up to that point. These intensive debriefings often include the CEOs’ reflections on the pressures they faced in time management, and on their mistakes and lessons learned. We also shared our collected data with the participants in each New CEO workshop. In our discussions, CEOs routinely described time management as one of their biggest challenges. The observations, questions and personal approach to allocating time that they shared further enriched our understanding.
First, we will provide a descriptive analysis of the data. How much time do CEOs spend on work versus personal activities? How much do they spend in meetings versus thinking and reflecting alone? How much do they rely on email versus face-to-face conversation? Do they spend more time inside the company or outside, more with customers or investors? We answer these questions – and many more.
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Second, we offer prescriptions for how CEOs can manage their time more effectively across their many responsibilities. One of our most striking observations is that the way leaders allocate their time varies significantly. Some of this variation reflects differences in their businesses and management practices. However, many time allocation decisions, such as participation in corporate rituals that provide limited returns, reflect legacy norms and cultures, as well as the CEO’s own habits. In our debriefings, the CEOs all acknowledged that there were important areas where they could make better use of their time. Based on these discussions and those with the hundreds of other CEOs in our workshops, we are convinced that every leader can improve his time management.
Finally, we will reflect on what our rich data reveals about the general role of the CEO. A CEO must simultaneously manage multiple dimensions of influence, which all include dualities, or apparent contradictions, that effective CEOs must integrate. Understanding this broader view of the role is essential to success and also provides an important perspective on managing time well.
While our research focuses on the role of the CEO in large, complex companies, its findings have implications for all leaders (including executives of nonprofits) looking for ways to use their time and influence more effectively.
CEOs are always on, and there is always more to do. The leaders in our study worked an average of 9.7 hours per weekday. They also did business on 79% of weekend days, an average of 3.9 hours per day, and on 70% of holidays, an average of 2.4 hours per day. As these numbers show, the CEO’s job is tireless.
Time Management: Harvard Managementor
About half (47%) of a CEO’s work was done at corporate headquarters. The rest was carried out while visiting other company locations, meeting external constituencies, travelling, traveling and at home. In total, the CEOs in our study worked an average of 62.5 hours per week.
Why such an exhausting schedule? Because it is essential to the role. Every constituency associated with a company wants direct contact with the person at the top. As much as CEOs rely on delegation, they cannot delegate everything. They need to spend at least some time with each constituency to provide direction, create alignment, win support and gather the necessary information to make good decisions. Traveling is also an absolute must. You cannot run a domestic company, let alone a global one, from headquarters alone. As a CEO you have to be out and about.
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