CEO’s core responsibilities: strategy, team and a culture of challenge

A CEO’s job is to set a clear strategy, assemble the right team and build a culture that helps the team succeed, according to an executive’s view. A clear direction makes it easier to set priorities and decide what the company will not pursue; as the business grows, the team may also need to change. The executive said business-building fundamentals matter more than a strong Rolodex, since professional connections come and go.

The executive also described culture as a product that can help attract and retain employees through connection to the mission, learning and meritocracy. CEOs should welcome trusted feedback that challenges their beliefs, reconsider strategy as markets change and make room for hard conversations, so the best idea—not the most senior person’s—wins.