Recasting the Role of the CEO: Transferring the Responsibility for Change-How Leaders Can Tap the Creative Energy of Employees

By: Vineet Nayar

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Synopsis: Everyone agrees that leadership is fundamental to a company, yet its role is difficult to define in companies that compete in a knowledge economy. According to Vineet Nayar, CEO of HCL Technologies, a leading global IT services company, the greatest impact of the "employees first, customers second" approach to management is that it unleashes the power of those working in what he calls the value zone-where direct interaction with customers actually creates customer value-and lessens the inhibiting effect of those in top-level positions, thus increasing the speed and quality of innovation and decision making. In fact, according to Nayar, if you are a leader who wants to create sustainable change and prevent your company from periodically falling out of the race, you must stop thinking of yourself and your leadership team as the only source of new ideas. Instead, you must begin to transfer ownership of your company's growth to the next generation of leaders who are closer to the value zone. Only then can you create a company in which employees feel like owners, are excited by their work, and focus every day on change and innovation. This chapter was originally published as Chapter 4 of "Employees First, Customers Second: Turning Conventional Management Upside Down."